Published Date: 31-Mar-23
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According to a new report, published by KBV research, The Global Nasogastric Tube Market size is expected to reach $669.5 Million by 2028, rising at a market growth of 5.2% CAGR during the forecast period.
The Dysphagia segment acquired maximum revenue share in the Global Nasogastric Tube Market by Indication in 2021 thereby, achieving a market value of $170.1 million by 2028. In clinical practice, a nasogastric tube (NGT) is frequently used to give enough nourishment and a channel for medicine administration to individuals with dysphagia. The NGT is an easily inserted and relatively noninvasive device. As the older population grows, so does the danger of dysphagia, resulting in a greater demand for nasogastric tubes.
The Geriatric segment is showcasing a CAGR of 5.6% during (2022 - 2028). The increased incidence of chronic illnesses in the US, such as cancer and gastrointestinal (GI) problems, is one of the primary growth-stimulating factors.
The Small-bore Feeding Tubes segment is leading the Global Nasogastric Tube Market by Type in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $474 million by 2028. For individuals who are unable to swallow enough calories orally, a small-bore feeding tube is inserted to allow access to the gastrointestinal tract. It is possible to use the tube to give medications, fluids, and nutrients. As a result, the patient population and end-user have more demand for these tubes.
The Home Care segment has shown the growth rate of 5.9% during (2022 - 2028). Elderly individuals are more susceptible to digestive problems and more likely to require nasogastric tubes for treatment or management. Thus, the need for nasogastric tubes in the homecare setting has increased, which is expected to fuel the growth of the nasogastric tube market.
The North America market dominated the Global Nasogastric Tube Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $247.7 million by 2028. The Europe market is exhibiting a CAGR of 4.7% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 5.6% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/nasogastric-tube-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Becton, Dickinson and Company, Medtronic PLC, Cardinal Health, Inc., QMD, Angiplast Pvt. Ltd., Securmed Spa, Vygon SAS, Andersen Products, Inc. (Weiler Abrasives Group), Guangdong Baihe Medical Technology Co., Ltd. and Poly Medicure Ltd.
By Patient Type
Unique Offerings from KBV Research
North America Nasogastric Tube Market size & Opportunities 2022-2028
Europe Nasogastric Tube Market & Growth Forecast 2022-2028
Asia Pacific Nasogastric Tube Market Share & Industry Outlook to 2028
LAMEA Nasogastric Tube Market Growth, Trends & Forecasts 2022-2028