Based on current analysis the global medical foods market was valued at USD 19.90 Billion in 2020 and is expected to reach USD 19.90 Billion by 2028, at a CAGR 6.7% Medical foods are planned for specific dietary management of a disease or a condition for which distinctive nutritional requirements, based on recognized scientific principles are established by medical evaluation. It is mandatory to consume medical foods under the supervision of a physician. Medical foods are to be consumed or administered enterally. Specially formulated and intended for the dietary management of a disease that has distinctive nutritional needs that cannot be met by normal diet alone are known to be medical foods. Medical foods are not required to undergo premarket review or approval by FDA. Besides, they are relieved from the labeling requirements for health claims and nutrient content claims under the Nutrition Labeling and Education Act of 1990. Medical foods are customized for both pediatric and adult use and are available in a variety of forms, including powders, liquids, capsules, tablets, and bars. Moreover, they are specialized blends of macronutrients, vitamins, minerals, phytochemicals, and botanicals or preparations composed of a single nutrient.
The rising elderly population is a major driver for the global medical foods market. They are more likely to advance nutritional disorders as well as to fall prey to other diseases that affect their capacity to absorb nutrients from their diet. Nutrition deficiency disorders are also more common among the geriatric demographic than in other patient classes, leading to the elderly population becoming a key consumer sector for the global medical foods market. The increasing prevalence of diabetes across the world is another key driver for the global medical foods market.
Top Companies Profiled in the Report Include:
Protruding players operating in the market include Danone, Primus Pharmaceuticals, Inc., Nestlé, Abbott, Meiji Holdings and Co., Targeted Medical Pharma, Inc., Mead Johnson Company, LLC., Accera, Inc., and Alfasigma.
Medical Foods Market Overview:
The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
Major Highlights of the Medical Foodss Market Report:
- Due to high disease prevalence, diabetic neuropathy held the largest market share of 51.1% in 2020. Also, chronic kidney disorder is expected to emerge with the fastest CAGR of 6.6%
- In the United States, Alzheimer is the 6th leading cause of death. An estimated 5.8 million Americans of all ages are living with Alzheimer's dementia in 2019. This number includes an estimated 5.6 million people age 65 and older and roughly 200,000 individuals under age 65 who have younger-onset Alzheimer's
- Worldwide, 300 million people of all ages are suffering from depression. Depression is termed to be leading cause of disability around the world and is a key contributor to the overall global burden of disease
- VAYA Pharma, Inc. introduced Vayarin Plus, extending its medical food offerings. The extra-strength formula in Vayarin, is indicated for the clinical dietary management of ADHD in adolescents and adults weighing over 97 lbs. Constant innovations and new product launches by leading manufacturers are the major factors boosting the demand for medical foods market
- Orally administered medical foods accounted for the highest market share and are projected to maintain the dominance in future owing to ease in administration and their marketable probability. Enteral route of administration of medical foods registered highest CAGR and will continue to grow faster during the forecast period
- Institutional sales of medical foods accounted the highest market revenue in the market while, online sales are expected to register the highest CAGR of 8.9% during the forecast period
- North America is dominating the market with the largest market share of 44.0% due to technological developments, high prevalence of the target disease and overall awareness among the people to avoid further complexities caused by these diseases
Additionally, the report consists a detailed analysis of the segmentation of the Medical Foodss Market based on product types and end-use/application offered in the Medical Foodss Market –
Type (Revenue in USD Million; 2020–2028)
- Pills and tablets
Applications (Revenue in USD Million; 2020–2028)
- Chronic kidney disease
- Minimal hepatic encephalopathy
- Chemotherapy-induced diarrhea
- Pathogen-related infections
- Diabetic neuropathy
- Alzheimer's disease
- Nutritional deficiency
- Orphan diseases
- Eosinophilic esophagitis
Route of Administration (Revenue in USD Million; 2020–2028)
Sales Channel (Revenue in USD Million; 2020–2028)
- Online Sales
- Institutional Sales
- Retail Sales
Key Regional Markets Studied in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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