Neonatal and Preterm Infants Enteral Feeding Devices Market is Expected to Reach USD 2.62 Billion Globally by 2018
According to a new market report published by Transparency Market Research "Neonatal and Preterm Infants Enteral Feeding Devices Market - Global Industry Analysis, Size, Share and Forecast, 2012 - 2018," the global neonatal and preterm infants enteral feeding devices market revenue is estimated to reached USD 2.06 billion in 2013 and then reach USD 2.62 billion by 2018, growing at a CAGR of 4.9% from 2013 to 2018. The nasogastric tube market is expected to be the second largest revenue generating segment after enteral feeding pumps by 2018.
The global neonatal and preterm enteral feeding devices market has shown a healthy growth rate over the past few years and this trend is expected to continue till 2018 due to the increase in the number of preterm infants in critical care. Price still remains the major concern however; increases in demand of private healthcare along with technological advancement and rise in disposal family income overcomes this constraint and will drive the future growth of the market.
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In 2011, the enteral feeding pumps market was the largest revenue generating segment, accounting for 59.0% of the total neonatal and preterm enteral feeding devices market revenue. The nasogastric tube market is the second largest revenue generating segment, accounting for 14.0% of the overall market, followed by PEG tube and gastrostomy tube segment in 2011.
Amongst all the geographical regions, Asia-Pacific is forecast to lead the global market in terms of usage of infant enteral feeding devices followed by Europe and North America in 2018. The Asia-Pacific market is driven by increasing preterm incidences, rise in standard of living and rise in disposable incomes. The North American market is expected to experience sedentary growth rate due to maturity of the market and is forecast to have a market share of 27.4% of the overall market in 2018.
The opportunities in the neonatal and preterm infants' enteral feeding devices market are huge, as many market players are continuously investing and focusing on new product development. Abbott Nutrition is a market leader in the enteral nutrition formulation market accounting for 24% of the overall market share. The other major players include Nestle with 22% of the market share and Danone with 20% of the market share.
This report helps to identify factors, which will be the driving force behind the neonatal and preterm infants' enteral feeding devices market and sub-markets in the next six years. The report provides extensive analysis of the neonatal and preterm infants' enteral feeding devices industry, current market trends, industry drivers and challenges for better understanding of the market structure. The report has segregated the neonatal and preterm infants enteral feeding devices industry in terms of its product types and geography.
Major Segments Analyzed
By product type
- Enteral Feeding Pump
- Low Profile Gastrostomy
- PEG Tube
- Nasogastric Tube
- Gastrostomy Tube
- Giving Set
- North America
- Asia Pacific
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