The latest market report published by Credence Research, Inc. “Enteral syringes Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the enteral syringes market was valued at US$ 528.6 Mn in 2018, expected to grow at a CAGR of 5.3% during the forecast period from 2019 to 2027.
The global enteral syringes market is increasing proficiently from 2019 to 2027 accredited to increase in hospital admissions for cancer, lifestyle diseases, malnutrition and others. Increased U.S FDA (510k clearance) approvals for new enteral syringes with upgraded tip technology will enhance the market growth on a global scale. Increasing partnerships, technology expansion and new product launch will contribute a significant revenue share internationally. In Feb 2017, Baxter International Inc. expanded its nutrition care portfolio by adding up the new ENFit enteral syringe and accessory line for patients requiring tube feeding. Enteral syringes mainly utilized for oral and enteral drug administration and nutrition.
Increasing NICU patients along with hospital admissions for pediatric or adult patients in hospitals will further spur revenue growth for enteral syringes market. Enhanced regulatory policies in the manufacturing of syringes will also drive market growth. For e.g. ENFit is intended to improve overall patient safety. Additionally, compliant with the new ISO 80369-3 standard. It supports neonate, pediatric to adult patients requiring nutrition therapy. Top corporations mainly focused on new invention and FDA 510k clearance on a global scale, mainly in the U.S. market. An increasing number of newborns with hospital admissions, patients with late-stage disease, gastrointestinal diseases, neurological and hypermetabolism will increase the demand for enteral syringes.
Each year, more than 100,000 newborn babies are cared for in neonatal units in the UK, mainly due to premature birth or sickness. For e.g. in 2016, 100,762 newborn babies received neonatal care in Scotland, England, and Wales (born before 25-26 weeks). The U.S. market contributed maximum revenue share attributed to increasing prevalence of chronic disorders, urinary disorders, end-stage renal disease, diabetes, hypertension, a large pool of geriatric population, and domicile of key manufacturers in North America region. The key factors responsible for driving the market growth are an expansion in-home care settings for a smooth transition, rising preference for single-use products, increasing awareness associated with advanced techniques and nutritional therapy procedures in the developing nations globally.
Key Market Movements:
• Globally, the enteral syringes is growing at a CAGR of 5.3% for the period from 2019 to 2027
• Increased general health awareness along with huge hospital admissions will drive the market growth the Asia Pacific region owing to developments in healthcare infrastructure, rise in medical expenditure, and medical tourism
• Increased funding by government and private organizations for better treatment options
• New product launch along with U.S FDA approval and technology expansion will drive the market growth
• Major players in this vertical are Cardinal Health Inc., Merit Medical Systems Inc., B. Braun Melsungen AG, Baxter International, Inc., Terumo Corporation, Vygon S.A., Koninklijke Philips N.V., Retractable Technologies Inc., Medline Industries Inc., Gerresheimer AG, Abbott Laboratories Inc., Kentec Medical, Inc., Miktell Ltd., Thermo Fischer, Inc. and others
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