May 24, 2024
Global Feeding Tubes Market

Global Feeding Tubes Market Estimated To Witness High Growth Owing To Rising Prevalence Of Chronic Diseases

The global feeding tubes market is characterized by the presence of a large number of players. Feeding tubes are medical devices that help provide nutrition or medication when someone cannot eat normally or retain enough nutrition orally. Feeding tubes are commonly used when someone cannot swallow properly or needs extra nutrition due to illness, surgery or long-term treatment. They can be used for both short-term nutrition needs or long-term as a permanent feeding option. The increasing prevalence of chronic diseases such as cancer, gastrointestinal disorders, neurological disorders etc. has led to a rise in the usage of feeding tubes over the recent years.

The Global Feeding Tubes Market Size Is Estimated To Be Valued At Us$ 6.34 Bn In 2024 And Is Expected To Exhibit A Cagr Of 6.2% Over The Forecast Period 2024-2031.

Key Takeaways

Key players operating in the global feeding tubes market are Boston Scientific Corporation, Vygon, BD, Cardinal Health, Amsino International, Inc., Fidmi Medical, Vesco Medical, Mckesson Medical-Surgical, Medela AG, ALCOR Scientific, Nutricia, Medline Industries, Inc., Mead Johnson & Company, LLC., Abbott, Meiji Holdings Co., Ltd., Fresenius Kabi AG, B. Braun SE, Trovita Health Science, Victus Inc., Avanos Medical Inc., Cardinal Health, Moog Inc, Conmed Corporation, and Cook Medical. The growing prevalence of chronic and critical medical conditions has increased the demand for feeding tubes for effective patient nourishment care. Additionally, rising investments in healthcare infrastructure and growing awareness about nutrition and feeding tubes is expected to create lucrative opportunities for players operating in this market. Geographically, North America dominates the global feeding tubes market owing to increasing healthcare spending, growing geriatric population and rising prevalence of chronic diseases in the region. However, Asia Pacific market is expected to witness highest growth over the forecast period.

Market Drivers

One of the major drivers propelling the growth of this market is rising prevalence of chronic diseases globally that require long-term tube feeding for medical nutrition support or enteral nutrition. Diseases like cancer, neurological disorders, gastrointestinal disorders are increasing at an alarming rate worldwide due to changing lifestyles and living conditions. This growing prevalence has increased the usage of feeding tubes considerably over the years for effective patient care. Additionally, rising number of pre-term births each year requiring tube feeding in the neonatal intensive care units is also fueling the feeding tubes demand. Other growth promoting drivers include increasing number of surgical procedures requiring post-operative nutritional support, rising healthcare expenditure and expanding medical tourism across developing regions of the world. However, risk of complications associated with tube feeding and preference of patients towards parenteral mode of feeding are some of the factors hindering the market growth.

Pest Analysis

Political: The government policies related to healthcare expenditure, reimbursement policies for feeding tubes and approval norms will impact the market growth.

Economic: Factors such as disposable income, rising healthcare expenditure and insurance coverage will drive demand for feeding tubes over the forecast period.

Social: Growing elderly population, increasing prevalence of chronic diseases and cancer requiring tube feeding will influence market expansion.

Technological: Advancements in design and material of feeding tubes have improved functionality, safety and comfort. Development of thinner tubes have increased adoption.

Geographical Regions With Highest Market Value

North America currently holds the largest share in the global feeding tubes market in terms of value, due to rising geriatric population, increased healthcare expenditure and presence of major players. Europe is the second largest regional market driven by increasing cancer cases. Asia Pacific is expected to be the fastest growing region supported by growing healthcare infrastructure and medical tourism in countries like India, China and Japan.

Fastest Growing Region

Asia Pacific region is poised to witness the highest growth over the forecast period. This is attributed to rising incidence of chronic diseases, increasing health awareness, improving access to healthcare facilities and rapidly expanding medical technology industry in emerging countries. In addition, growing preference for minimally invasive procedures will spur demand for feeding tubes. Initiatives by governments to strengthen public healthcare systems also support feeding tubes market growth in Asia Pacific.

What are the key data covered in this Global Feeding Tubes Market report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Global Feeding Tubes Market’s growth between 2024 and 2031.

:- Accurate calculation of the size of the Global Feeding Tubes Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behavior

:- Global Feeding Tubes Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Global Feeding Tubes Market vendors

FAQ’S

Q.1 What are the main factors influencing the Global Feeding Tubes market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Global Feeding Tubes Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Global Feeding Tubes market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:

  1. Source: CoherentMI, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it