Report : Europe Gastric Buttons Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Offerings (Products and Accessories), Application (Children and Adults), Usage (Enteral Nutrition, Medications, Fluids, and Others), and End User (Hospitals, Clinics, and Others)
At 7.1% CAGR, the Europe Gastric Buttons Market is speculated to be worth US$ 152.24 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe gastric buttons market was valued at US$ 100.71 million in 2022 and is expected to reach US$ 152.24 million by 2028, registering a CAGR of 7.1% from 2022 to 2028. Growing prevalence of cancer, neurological disorders, diabetes, and gastrointestinal diseases and increasing geriatric population are the critical factors attributed to the Europe gastric buttons market expansion.
The demand for better delivery systems, enteral feeding in-home care settings, and enteral nutrition (EN) is expected to increase the sales of gastric buttons. Leading market players are increasing their penetration across emerging markets by expanding their distribution networks and augmenting manufacturing capabilities. This can be attributed to the rise in the aging population; high prevalence of cancer, neurological disorders, diabetes, and gastrointestinal diseases; increased disposable income; improved healthcare infrastructure; and growth of medical tourism in these countries.
High investments in life science and health research in emerging countries play a key role in upgrading the latest technologies in these countries. This factor, in turn, will support the inclination toward gastric button use.
On the contrary, difficulties associated with gastric buttons hurdles the growth of Europe gastric buttons market.
Based on offerings, the Europe gastric buttons market is bifurcated into products and accessories. The products segment held 66.7% market share in 2022, amassing US$ 67.16 million. It is projected to garner US$ 104.05 million by 2028 to expand at 7.6% CAGR during 2022–2028. Further, accessories are segmented into button feeding sets, button decompression sets, and others.
Based on application, the Europe gastric buttons market is bifurcated into children and adults. The children molding segment held 57.6% market share in 2022, amassing US$ 57.96 million. It is projected to garner US$ 90.54 million by 2028 to expand at 7.7% CAGR during 2022–2028.
Based on usage, the Europe gastric buttons market is categorized into enteral nutrition, medications, fluids, and others. The enteral nutrition molding segment held 43.4% market share in 2022, amassing US$ 43.72 million. It is projected to garner US$ 68.41 million by 2028 to expand at 7.7% CAGR during 2022–2028.
Based on end user, the Europe gastric buttons market is categorized into hospitals, clinics, and others. The hospitals molding segment held 55.8% market share in 2022, amassing US$ 56.16 million. It is projected to garner US$ 87.93 million by 2028 to expand at 7.8% CAGR during 2022–2028.
Based on country, the Europe gastric buttons market has been categorized into the UK, Germany, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that the UK captured 27.7% market share in 2022. It was assessed at US$ 27.86 million in 2022 and is likely to hit US$ 42.63 million by 2028, exhibiting a CAGR of 7.3% during the forecast period.
Key players dominating the Europe gastric buttons market are Avanos Medical Inc., Medicina Ltd, Danumed Medizintechnik GmbH, Boston Scientific Corp, QMD, Nutricia Ltd, Shin-Etsu Polymer Europe BV, Vygon (UK) Ltd, and Fresenius Kabi AG among others.
- In Feb 2021, Fresenius Kabi expands its operations in Graz, Austria.
- In May 2021, QMD Expands Enteral Feeding Portfolio.
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