The latest research study “Medical Foods Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global medical foods market size reached US$ 20.69 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 29.18 Billion by 2027, exhibiting a CAGR of 5.80% during 2022-2027.
Industry Definition and Application:
Medical foods are intended for the dietary management of a disease, which cannot be met through a normal diet alone. They are prepared for the partial or exclusive feeding of the patient through oral intake or enteral feeding by tube under the supervision of a medical specialist. They are formulated under the supervision of a physician according to scientific principles and medical evaluation. They are composed of food additives, color additives, and a combination of vitamins, minerals, and botanicals for better dietary management. Medical foods support the therapeutic effects of the drug and offer an effective therapeutic tool for managing pain, sleep, and cognitive disorders. Presently, they are available in pills, liquid, and powder forms across the globe.
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Global Medical Foods Market Industry Trends and Drivers:
At present, the growing global geriatric population and increasing cases of medical ailments, such as cancer, attention-deficit or hyperactivity disorder (ADHD), depression, diabetes, cancer, and Alzheimer’s, represent one of the key factors positively influencing the market. In line with this, the rising prevalence of metabolic and gastrointestinal diseases due to sedentary lifestyles is catalyzing the demand for medical foods. Moreover, the development in the healthcare sector and the introduction of favorable initiatives for the manufacturing of medical foods to meet the specific requirement of patients are currently bolstering the growth of the market. Apart from this, the growing research and development (R&D) activities to offer novel medical food products, fulfill the nutritional demand of consumers, and enhance the shelf-life of food items without compromising on their taste and nutritional values are anticipated to drive the market in the coming years.
Moreover, the widespread adoption of natural sources, bioactive compounds, and food rich in phytochemicals for manufacturing medical foods is supporting the market growth. Besides this, as medical foods aid in boosting the immune and digestive systems of individuals, they are gaining immense traction across the globe. Furthermore, inflating income levels and changing dietary patterns worldwide are creating a favorable market outlook. Furthermore, strict government requirements encourage investors to invest in efficient production and effective product upkeep. Specific emphasis on nutritional requirements adhering to clinical guidelines is positively influencing the market. Additionally, the easy availability of medical foods in grocery stores and pharmacies is creating a positive market outlook. In line with this, rapid digitization, increasing sales of smartphones, and the rising penetration of high-speed internet are contributing to the increasing sales of medical foods through e-commerce platforms.
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Global Medical Foods Market 2022-2027 Competitive Analysis and Segmentation:
The report has been segmented the market into the following categories:
Breakup by Component:
Pills
Powder
Others
Breakup by Route of Administration:
Oral
Enteral
Breakup by Application:
ADHD
Depression
Diabetes
Cancer
Alzheimer’s Disease
Metabolic Disorders
Others
Breakup by Distribution Channel:
Supermarkets
Hospital and Retail Pharmacies
Online Pharmacies
Others
By Geography:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
List of Major Key Players:
Abbott Healthcare Private Limited (NSE: ABBOTINDIA)
Alfasigma S.p.A
Danone S.A (EPA: BN)
Fresenius Kabi AG (ETR: FRE)
Mead Johnson & Company
Medtrition Inc
Meiji Holdings Co., Ltd (TYO: 2269)
Metagenics, Inc., Nestlé S.A
Primus Pharmaceuticals, Inc
argeted Medical Pharma Inc
Victus, Inc
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