Transparency Market Research in its new report titled, “Nasogastric Tube Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the nasogastric tube market. The TMR report anticipates that the increase in the number of hospitalized pediatric patients will drive the nasogastric tube market during the forecast period i.e, 2018-2026.
Growing prevalence of pediatric disorders is a primary reason for the rise in hospital admission of pediatric patients. Almost on a regular basis, these patients are observed to require nasogastric tube for gastric decompression and the remedial need to control enteral medications and feedings. Bidirectional potential and adaptable nature of nasogastric tube could bode well for the demand in the market. The multimillion-dollar market is expected to have a positive growth outlook for the next few years, says the report.
The report has segmented the global nasogastric tube market according to application, channel, type of tube, and type of product. Anesthesia and feeding are anticipated to be prominent applications of nasogastric tube. Each segment of the market is carefully analyzed by the researchers with key focus on its growth potential.
The global nasogastric tube market is foreseen to attain growth while riding on increasing chronic disease rates, rise in the number of preterm births, and expanding geriatric population base. Among various types of tubes available in the market, Salem sump catheter is predicted to gain faster demand in the near term. Furthermore, it could secure a handsome share of the market due to certain advantages over other tube types. It prevents the formation of inordinate vacuum at the tip of the tube because it carries a vent.
However, the report has also discussed market restraints of the market such as developmental delays and side effects such as skin irritation, tube dislocation, tube perforation, gagging, and retching that could negatively affect market growth for nasogastric tube. Nonetheless, the global nasogastric tube market is forecasted to offer rewarding prospects with improvement in healthcare facilities in emerging economies.
A regional analysis of the international nasogastric tube market envisages Europe to gain pace for its growth in the near future. This is ascribed to the availability of exceptionally sophisticated healthcare facilities, rising geriatric population, high healthcare outlay, and increasing patient awareness. Additionally, development of product portfolio as a result of increasing research and development and the implementation of promising healthcare policies could help the region to increase its market share.
Moreover, the TMR report anticipates Asia Pacific to be on the brink of becoming a more lucrative region of the international nasogastric tube market with opportunities available in India and China. Another factor that could support growth of this regional market is the presence of multitudinous geriatrics in Japan. The global nasogastric tube market includes some of the top names of the industry to give a better competitive analysis and these include Guangdong Baihe Medical Technology, Degania Silicone, Bicakcilar, Bard Medical, and Andersen Products. Each player is comprehensibly studied in the report while focusing on their recent developments, market shares, and other aspects.
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