Medical Foods Market

Global Medical Foods Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027, The increasing adoption of healthy alternatives in daily lives due to the rising costs of medical services is one of the major factors driving the growth of global medical foods market.

Global Medical Foods Market is valued at USD 19.25 Billion in 2020 and is expected to reach USD 27.82 Billion by 2027 with a CAGR of 5.4% over the forecast period.

Scope of Global Medical Foods Market Report:

Medical foods are specially formulated and formulated for disease management of diseases that have specific nutritional needs that cannot be met by a normal diet alone are known as medical foods. Under the supervision of a physician, the intake or administration of medical substances is ingested and planned for the specific dietary management of disease and for a condition for which specific nutritional requirements, formulated on recognized scientific principles, are established by medical evaluation. Medical foods do not require FDA premarket review or approval.

Furthermore, they also have an exemption from labeling requirements for health claims and nutrient claims under the Nutrition Labeling and Education Act of 1990. Medical substances are customized for both pediatric and adult use and are available in a variety of forms, including powders, liquids. Capsules, tablets, and bars. In addition, they are a special blend of macronutrients, vitamins, minerals, phytochemicals, and preparations made from botanical or single nutrients.

Covid-19 has impacted the growth of the global medical foods market. The demand for medical foods has grown significantly as a result of the COVID-19 pandemic. These types of medical foods help patients to strengthen their immunity. However, the disruption in supply chain network and various challenges in manufacturing during the pandemic have also affected the market growth.

The global medical foods market is segmented on the basis of administration, application, product, and region & country level. Based upon the administration, the medical foods market is classified into oral and enteral. Based upon the product, the medical foods market is classified into pills, powder, and others. Based upon the application, the medical foods market is classified into diabetic neuropathy, depression, Alzheimer's disease, nutritional deficiency, and others.

Medical Foods Companies :

The key players of the global medical foods market are Nestle S.A., Danone S.A., Abbott Laboratories, Fresenius SE & Co. KGaA, Targeted Medical Pharma, Inc., Primus, Pharmaceuticals, Inc., Reckitt Benckiser Group plc. Meiji Holdings, and Co., Ltd., Cerecin Inc., Metagenics, Inc., and others.

Global Medical Foods Industry Segmentation:

By Administration:

• Oral
• Enteral

By Product:

• Pills
• Powder
• Others

By Application:

• Diabetic Neuropathy,
• Depression
• Alzheimer's Disease
• Nutritional Deficiency
• Others

The regions covered in this global medical foods Industry report are North America, Europe, Asia-Pacific, and the Rest of the World. On the basis of country level, the market of medical foods is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.

News: Nestle Completed the Acquisition of The Bountiful Company Core Brands

On April 30^th, 2021; that Nestle S.A. has entered into an agreement to acquire the majority of The Bountiful Company’s brands. Nestle Health Science has completed the successful completion of its acquisition of the core brands of The Bountiful Company, including Nature’s Bounty, Solgar, Osteo Bi-Flex, Puritan’s Pride, Ester-C, and Sundown.

Increasing Prevalence of Long-Term Conditions, Rising Geriatric Population and Increasing Adoption of Healthy Alternatives in Daily Lives Due to the Rising Costs of Medical Services are Some of the Major factors Driving the Market Growth

One of the major factors driving to the growth of the global medical food market is the increasing prevalence of long-term conditions followed by a growing geriatric population. According to the Centers for Disease Control and Prevention, 6 out of 10 adults in the United States have heart disease, cancer, chronic lung disease, stroke, diabetes, or any other illness. According to a report released by the WHO, in 2020, an estimated 462 million adults will lose weight, and medical food and external diets were considered the first choice to provide nutritious food to malnourished patients.

In addition, the growing awareness regarding clinical nutrition among healthcare professionals and patients is another factor supplementing the growth of the market. Patients suffer from nutritional deficiencies mainly due to chronic conditions and the negative effects of the drugs used in their treatment. For example, malnutrition is one of the most common conditions during cancer treatment. Helps to get rid of various medical food shortages, which is increasing the market for medical food.

In addition, the increasing number of mergers and acquisitions in the medical food market and rising promotional activities by key players are also fostering market growth. In 2018, Fresenius Kabi AG offered a grant of 1, 17,657.50 United States dollars to support clinical nutrition research in Latin America for individuals having malnutrition. Thus, this factor has a positive impact on the growing demand of the medical food market. Furthermore, many people suffer from malnutrition, chronic conditions, and side effects of medications. For example; malnutrition is a common condition during cancer treatment. Medical foods can be beneficial in getting control of such shortages, creating growth opportunities for the medical food market.

However, a lack of knowledge among consumers about medical foods is a major impediment to the growth of the medical food market. In spite of that, growing awareness and increasing advancements in this field may create more opportunities for the further growth of the market.

Asia-Pacific is Expected to Witness the Fastest Growth in the Global Medical Foods Market.

The Asia-Pacific region is expected to witness the fastest growth in the medical foods market. The rising prevalence of various diseases such as diabetes, cancer, obesity, and cardiovascular diseases is one of the major factors driving the demand for medical food products in Asian countries. As per International Diabetes Federation, India has an 8.95 prevalence rate of diabetes in the adult population, while the total number of diabetic patients in adults is around 77,005,600. Additionally, the increasing adoption of medical food products by healthcare professionals and patients is further driving the growth of the Asia-Pacific market.

North America is expected to dominate the global medical foods market. Major market players are focusing on United States regional expansion to increase their market share in emerging markets. In July 2019, U.S. DuPont Chemical Corporation, headquartered in New York, has opened a new fermentation unit at its plant in New York to increase its supply of probiotics and sell health and fitness products on the New York market. As a result, demand for medical foods in North America is on the rise.

North America

• U.S.
• Canada

Europe

• U.K.
• France
• Germany
• Italy

Asia Pacific

• China
• Japan
• India
• Southeast Asia

Latin America

• Brazil
• Mexico

The Middle East and Africa

• GCC
• Africa
• Rest of the Middle East and Africa

Key Benefits of Global Medical Foods Industry Report–

• Global medical foods Industry report covers in-depth historical and forecast analysis.
• Global medical foods Industry research report provides detailed information about medical foods market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Medical Foods Companies, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
• Global medical foods Industry report helps to identify opportunities in the marketplace.
• Global medical foods Industry report covers extensive analysis of emerging trends and competitive landscape.

Medical Foods Trends

• Sustainable nutrition
• Proactive health
• Immunity
• Plant power

To know More Medical Foods Trends contact

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