Rising Geriatric Population Fuels Gastric Buttons Market Growth
According to our new research study on "Gastric Buttons Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Offerings, Application, Usage, and End User," the market is expected to reach US$ 617.9 million by 2028 from US$ 400.0 million in 2022, with an estimated CAGR of 7.5%. The report highlights trends prevailing in the market and drivers and restraints pertaining to the gastric buttons market growth.
The geriatric population has been rising significantly worldwide. The rise in geriatric population in developed countries, such as the US, the UK, Canada, and Japan, and developing countries, such as China, India, and South Korea, is driven by the modernization of healthcare facilities and improvements in healthcare services, which has boosted the life expectancy in these countries. An increase in life expectancy is leading to a rising geriatric population globally. According to the data presented by the World Health Organization (WHO) in February 2018, the geriatric population is estimated to rise from 12% in 2015 to 22% by 2050. In addition, according to the US Census Bureau, the number of people in the US with age 65 and above is anticipated to grow from 46 million in 2016 to more than 98 million by 2060; their population share would increase from ~15% to ~24% during this period. According to the United Nations World Population Ageing 2017 report, in 2017, Europe had the highest percentage of people over the age of 60 (25%). Other regions of the world are also experiencing accelerated aging. By 2050, all regions except Africa will have approximately a quarter or more of their populations aged 60 and over. The geriatric population in the world is anticipated to reach US$ 1.4 billion, US$ 2.1 billion, and US$ 3.1 billion by 2030, 2050, and 2100, respectively. Moreover, underdeveloped and developing countries would account for ~80% of this growth.
Various physiological, physical, and cognitive changes in the human body are marked by aging. Prolonged chronic disorders such as type II diabetes, atherosclerosis, and coronary heart disease may result in difficulty in swallowing among the elderly. By using enteral nutrition, the nutritional requirement can be attained in such patients, thereby driving the gastric buttons market.
North America held the largest market share of the gastric buttons market in 2021. Rise in the prevalence of chronic diseases, increase in the geriatric population, a developed healthcare system, rise in healthcare expenditure, and the presence of major market players are among the prominent factors propelling the gastric buttons market growth. In North America, the US is the largest market for gastric buttons. The growing prevalence of diseases and conditions, such as cancer, stroke, neurological disorders, and paralysis, and the presence of major market players in this country primarily drive the growth of this market. According to the National Cancer Institute, head and neck cancers account for ~4% of all cancers in the US. Maintaining proper nutrition during cancer treatment is essential. When cancer patients struggle with nutrition, gastric buttons can help provide vitamins, minerals, calories, protein, and fluids required to help the patient fight infection, heal, and stay healthy during cancer treatment. Thus, the adoption of the gastrostomy button for the administration of food and medicine has been progressing rapidly over the last five years, which is driving the market in North America.
The COVID-19 pandemic positively impacted gastric buttons market growth as the hospitalization rate increased considerably, raising the demand for enteral feeding devices such as gastric buttons for critically ill patients. The critically ill patients had lowered oral intake due to anorexia, nausea, and taste impairment, which increased the need for enteral feeding devices such as gastric buttons to provide nourishment. Various hospitals in the US administered enteral nutrition to critically ill COVID-19 patients. As per the study "Role of Early Enteral Nutrition in Mechanically Ventilated COVID-19 Patients" conducted in the US, administration of early enteral nutrition in critically ill patients led to shorter ICU and hospital stays, liberation from mechanical ventilation, and reduced cost. Therefore,
Avanos Medical Inc, Medicina Ltd, danumed Medizintechnik GmbH, Boston Scientific Corp, QMD, Nutricia Ltd, Shin-Etsu Polymer Europe BV, Applied Medical Technology Inc, Fresenius Kabi AG, and Vygon (UK) Ltd. are among the leading companies operating in the global gastric buttons market.
The global gastric buttons market is segmented based on offerings, application, usage, end user, and geography. Based on offerings, the gastric buttons market is bifurcated into products and accessories. By application, the gastric buttons market is bifurcated into children and adults. Based on usage, the gastric buttons market is segmented into enteral nutrition, medication, fluids, and others. Based on end user, the gastric buttons market is segmented into hospitals, clinics, and others. Based on geography, the gastric buttons market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
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