Global Gastric Button Market Share Forecasted to Reach USD 817.18 Million By 2032, at 7.5% CAGR Growth: Polaris Market Research
Global gastric button market size & share is currently valued at USD 400.44 million in 2022 and is anticipated to generate an estimated revenue of USD 817.18 million by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 7.5% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2023-2032.
New York, NY, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a recent study report titled *"Gastric Button Market Share, Size, Trends, Industry Analysis Report by Offerings (Products and Accessories), Application; Usage; End User; By Region, Segment Forecast, 2023-2032"* in its research database.
According to the research report, the global gastric button market size & share is currently valued at USD 426.63 million and is *anticipated to generate an estimated revenue of USD 817.18 million by 2032*, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a *robust 7.5% Compound Annual Growth Rate (CAGR)* over the forecasted timeframe, 2023-2032.
*What is a Gastric Button? How Big Is the Gastric Button Market*
· *Overview*
A gastrostomy is a surgical opening made through the skin of the abdomen to the stomach. It is also known as a G-button that is used to feed or administer medication to a child or adult through a gastrostomy. Silastic components that are not reactive are used to make gastrostomy buttons. A balloon on the interior of the button keeps it in place.
Also, a gastrostomy feeding tube or gastrostomy button implantation is a possibility for patients who need long-term or continuous enteral feeding. Common neurological conditions that affect the movement of the gastrointestinal tract include parkinsonism, multiple sclerosis, stroke, and diabetic neuropathy. The prevalence of neurological illnesses has dramatically increased during the last few decades. Therefore, the gastric button market demand has increased.
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*Essential Takeaways from the Report*
· Some of the main drivers propelling the market include the rising incidence of neurological disorders, including seizures, dementia, and Alzheimer's disease, as well as chronic diseases like stroke and cancer.
· The growing aging population also contributes to the market's growth.
· The gastric button market segmentation is mainly based on usage, offering, end-user, application, and region.
· North America is anticipated to witness substantial growth during the forecast period.
*Leading Players Appeared in the Report*
· Medicina
· Avanos Medical
· Applied Medical Technology
· Abbott Nutrition
· Boston Scientific
· Halyard Health
· Medizintechnik
· C.R. Bard.
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*Gastric Button Market: Report Scope*
*Report Attribute* *Details*
*Revenue Forecast in 2032* USD 817.18 Million
*Market size value in 2023* USD 426.63 Million
*Expected CAGR Growth* 7.5% from 2023 - 2032
*Forecast Year* 2023 – 2032
*Segments Covered* By Offering, By Application, By Usage, By End-user, By Region
*Customization Options* *Customized purchase options are available to meet any research needs. *Explore customized purchase options
*Important Growth Aspects of the Market *
· *Increased Geriatric Population: *When feeding elderly patients, nasogastric tubes and percutaneous endoscopic gastrostomies are the two methods most frequently used. Currently, instances lasting less than four weeks are advised to use a nasogastric tube (NGT). In contrast, cases lasting more than four weeks are advised to use a percutaneous endoscopic gastrostomy (PEG). Overall, the gastric button is highly recommended in geriatric populations because of its ease of use, decreased danger of dislodgement, extended use, and flexibility for the delivery of food and medications. As a result, the gastric button market size is expanding.
*Market’s Latest Key Trends*
· *Rising Dysphagia Disorder in the Elderly Patients: *Research indicates that dysphagia is the most prevalent condition affecting senior citizens. A gastric button is a safe and effective way to deliver nutrients to the stomach without passing through the mouth or throat in such circumstances. This helps to guarantee that the patient receives the nutrients they need to stay healthy and prevent the negative effects of malnutrition.
*Segmental Overview*
· *The Product Sector Witnesses Fastest Growth*
For individuals who suffer from illnesses like stroke, cancer, or other neurological diseases that prevent them from eating or swallowing normally, gastric button devices offer a safe, dependable way to provide enteral nutrition. Furthermore, a variety of gastric button designs are widely accessible to accommodate the demands and preferences of a wide range of patients. The many forms of gastrostomy tubes on the market are Radiologically Inserted Gastrostomy (RIG) tubes, Percutaneous Endoscopic Gastrostomy (PEG) tubes, low-profile or button tubes, and Gastrojejunostomy (GJ) tubes.
· *The Children's Sector Accounts for the Largest Share*
Although gastric buttons can be utilized for both adult and pediatric patients, due to developmental differences, pediatric patients represent the majority of patients who receive them. Due to their age, children are less likely to learn how to eat and drink, so using the gastric button is more important to meet their nutritional demands.
Also, because of any tube displacement, children are typically less likely than adults to experience difficulties, making them a safer option to employ. Furthermore, the gastric tube's tiny size makes it a better choice for kids to use for nutritional needs, boosting the gastric button market growth.
· *The Hospital Sector Holds the Largest Market Share*
Complications after G-tube insertion include infection, bleeding, necrotizing fasciitis, and gastrointestinal tract perforation. In order to avoid further injury to patients, quick medical action is necessary to address the issue. Compared to outpatient settings, hospitals have more medical facilities available to handle these kinds of issues.
Furthermore, managing a gastrostomy tube at home can be challenging due to the numerous adjustments that are needed. Therefore, rather than at home or in an outpatient setting, gastrostomy tube insertion is usually done at a hospital or other medical facility.
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*Geographical Outlook*
*North America: *North America has the greatest rate of both cancer and neurological disorders, making it the region's biggest market for gastric buttons. According to a 2021 study by the Pan American Health Organization, neurological disorders account for the biggest number of deaths in the United States, posing a significant threat to public health. Because of this, compared to other nations, there is a marked increase in demand for gastric button technology.
*Asia Pacific: *With a CAGR of 7.9% throughout the projection period, the gastric button market in the Asia Pacific region is anticipated to increase at the quickest rate. Over the last few decades, the region's aging population has grown dramatically. The usage of gastrostomy tubes and other enteral feeding techniques will increase as the population in the area ages.
Browse the Detail Report *“Gastric Button Market Share, Size, Trends, Industry Analysis Report by Offerings (Products and Accessories), Application; Usage; End User; By Region, Segment Forecast, 2023-2032”* with in-depth TOC:
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*Market’s Common Questions Answered in the Report*
· What is the study period of the market?
· How big is the market size and the growth rate during the forecast period?
· What are the growth factors of the market?
· Which segment is holding the largest gastric button market share?
· Who are the prominent market players in the industry?
· What are the key market trends and opportunities?
· Which region is leading the gastric button market?
*Polaris Market Research has segmented the gastric button market report based on offering, usage, application, end user, and region:*
*By Offering Outlook*
· Products
· Accessories
*By Application Outlook*
· Children
· Adults
*By Usage Outlook*
· Enteral Nutrition
· Medications
· Fluids
· Others
*By End User Outlook*
· Hospitals
· Clinics
· Others
*By Region Outlook*
· North America (U.S., Canada)
· Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
· Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
· Latin America (Brazil, Mexico, Argentina)
· Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
*About Polaris Market Research:*
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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