North America Feeding Tubes Market 2023 Size, Share, Revenue Trends and Growth Drivers
The North America Feeding Tubes Market 2023 Size Forecast to 2030 research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the industry, as well as predicted future growth, technological advancements, investment prospects, market economics, and financial data.
The North America feeding tubes market size was valued at USD 478.5 million in 2021. The market is projected to grow from USD 504.3 million in 2022 to USD 890.7 million by 2029, exhibiting a CAGR of 8.5% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with feeding tubes experiencing lower-than-anticipated demand across North America compared to pre-pandemic levels. Based on our analysis, the market exhibited a slower growth of 2.5% in 2020 as compared to 2019. North America Feeding Tubes Market Size, Share & COVID-19 Impact Analysis, By Type (Nasogastric Tube, Nasojejunal Feeding Tube, Gastric Tube (G Tube), Jejunostomy Tube (J Tube), and Orogastric Tube), By Age (Adult and Pediatric), By Application (Oncology, Gastroenterology, Diabetes, and Others), By End-user (Hospitals, Specialty Clinics, Homecare, and Others), and Forecast, 2022-2029
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Market Growth Drivers:
Tube feeding is a necessary alternative for children who are unable to ingest food orally due to a chronic illness. However, there are certain difficulties that medical professionals face during tube feeding such as tube placement errors. Hence, to avoid such hazards, various companies are focusing on research and development activities with the aim of manufacturing novel technology-based feeding tube systems.
For instance, in May 2021, QMD, a subsidiary of Q Holding Company, expanded its enteral feeding portfolio with the addition of nasogastric tubes to the Degania enteral feeding product family. This product range includes a number of pediatric and adult designs along with enhanced patient safety. Hence, such advancements will strongly surge the demand for these tubes.
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Who are the Major North America Feeding Tubes Market Vendors?
- Q (U.S.)
- Amsino International, Inc. (U.S.)
- ALCOR Scientific (U.S.)
- Fresenius Kabi Ltd. (Germany)
- Cardinal Health(U.S.)
- BD (Becton, Dickinson, and Company) (U.S.)
- B. Braun SE(Germany)
- Avanos Medical Inc.(U.S.)
- Baxter (U.S.)
- Applied Medical Technology, Inc. (U.S.)
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favourable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period [2022 – 2029].
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