Global Nasogastric Stabilization Devices Market: Introduction
- Nasogastric stabilization devices are used to hold aspiration and nasogastric feeding tubes, ensuring their security
- Increase in the number of minimally invasive procedures leading to rise in the use of nasogastric stabilization devices is anticipated to drive the market
Key Drivers of and Opportunities for Global Nasogastric Stabilization Devices Market
- Increase in the prevalence of chronic diseases and inclination toward minimally invasive procedures are factors anticipated to drive the global nasogastric stabilization devices market during the forecast period
- Moreover, surge in the number of elderly people with lifestyle diseases is likely to fuel the global market in the next few years. Furthermore, rising demand for nasogastric stabilization devices is also likely to boost the market in the near future.
- Furthermore, growth of the global nasogastric stabilization devices market can also be attributed to increase in the rate of incidence and prevalence of gastrointestinal diseases. For instance, according to an article published in The New England Journal of Medicine, in 2014, approximately 266,000 new individuals were diagnosed with gastrointestinal cancer and around 18 million endoscopic procedures were performed in the U.S.
- Increase in expenditure on the treatment of gastrointestinal diseases is likely to fuel the global market during the forecast period. For instance, according to an article published in Gastroenterology in United States, the annual expenditure on the treatment of gastrointestinal diseases in the U.S. was US$ 135.9 Bn in 2015.
- Increase in awareness about and prevalence of gastrointestinal diseases and inclination toward minimally invasive procedures in developing regions create lucrative opportunities for the global nasogastric stabilization devices market. For instance, according to Australian Institute of Health and Welfare, in Australia, the total estimated burden of gastrointestinal diseases was distributed evenly between women and men aged 65 years or above in 2011.
- According to Indian Council of Medical Research, in India, approximately 57,394 new cases of stomach cancer were recorded in 2018 and the disease is more prevalent in men
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North America to Hold a Major Share of Global Nasogastric Stabilization Devices Market
- North America is expected to hold a major share of the global nasogastric stabilization devices market between 2019 and 2027, due to increasing health care expenditure, rising prevalence of gastrointestinal diseases, and growing adoption of technologically advanced products in the region. According to an article published in Gastroenterology Journal, around 3.0 million hospital admissions and 54.4 million visits to ambulatory surgery centers for primary diagnosis of gastrointestinal diseases are recorded in the U.S. every year.
- Asia Pacific is expected to hold a considerable share of the global nasogastric stabilization devices market from 2019 to 2027. The market in the region is expected to expand at a rapid pace during the forecast period. Growth of the market in the region can be attributed to surge in the number of elderly people with chronic diseases. Moreover, rise in the number of gastrointestinal procedures in Asia Pacific is projected to fuel the market in the region between 2019 and 2027. According to an article published in Annals of Gastroenterological Surgery, in Japan, approximately 949,824 gastroenterological procedures were performed from January 2011 to December 2012 and, of these, 35.4% procedures were performed on the small intestine and the colon.
- According to an article published in Public Library of Science, between 2011 and 2013, around 2,336 gastrointestinal procedures were performed in Japan
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Key Players Operating in Global Market
Key players operating in the global nasogastric stabilization devices market are engaged in expanding their presence. Demand for nasogastric stabilization devices has increased in developing and developed markets. Market players are adopting the practice of appointing third-party distributors to expand their presence. This has led to surge in the number of distributors and suppliers in emerging markets. Henry Schein, Inc., Medical Monks, Inc., ATC Medical, McKesson Medical-Surgical Inc. are distributors of nasogastric stabilization devices. Leading players operating in the global nasogastric stabilization devices market are:
- Becton Dickinson & Company
- Hollister Incorporated
- Dale Medical Products, Inc.
- BRAIDLOCK Limited
- Zibo Qichuang Medical Products Co., Ltd.
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