Medical Foods Market

Market Overview:

The global medical foods market reached a value of 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. The increasing occurrence of various chronic diseases, rising emergence of novel viruses, and the growing geriatric population represent some of the key factors driving the market.

Medical foods refer to formulated food items that are consumed or administered enterally under the guidance of a physician and intended for specific dietary management or fulfilling distinctive nutritional requirements. They comprise vitamins, folic acid, selenium, omega-3 fatty acids, taurine, calcium, magnesium, and other minerals. They are specially processed for the patient who requires a comprehensive and specific diet for a disease or condition that possesses chronic or therapeutic needs. Medical foods can be consumed during various diseases, such as ulcerative colitis, gastroesophageal reflux disease, chronic intestinal pseudo-obstruction, insomnia, Crohn's disease, Parkinson's disease, Alzheimer's disease, and inherited diseases of metabolic disorders of amino acids and organic acids. These foods are available in the form of powders, pills, and capsules and given to patients who cannot ingest, digest, absorb, and metabolize ordinary foods or nutrients through enteral feeding tubes or regular oral feeding.

Medical Foods Market Trends:

At present, the increasing demand for medical foods among critical care patients to overcome difficulty in swallowing represents one of the primary factors influencing the market positively. Besides this, there is a rise in the occurrence of various chronic diseases around the world due to the adoption of unhealthy lifestyle habits and the consumption of inappropriate diets. This, coupled with the growing geriatric population, is offering a favorable market outlook. In addition, increasing hospitalization rates worldwide due to the rising occurrence of road accidents and the emergence of novel viruses infecting the masses is propelling the growth of the market. Apart from this, the increasing smoking and drinking habits among the masses to deal with work-related stress are contributing to the growth of the market. Additionally, the rising burden on critical care services due to the increasing demand for nutritional support and dietic care is supporting the market growth. Moreover, the rising preference for consuming liquid-formulated medical foods to maintain proper hydration and electrolyte balance in the body is strengthening the market growth. Furthermore, key market players are manufacturing medical foods for cancer patients dealing with chemotherapy-induced diarrhea and nausea caused by taking various cytotoxic drugs, which is bolstering the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global medical foods market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on product, route of administration, application, and distribution channel.

Product Insights:

• Pills
• Powder
• Others
   

The report has provided a detailed breakup and analysis of the medical foods market based on the product. This includes pills, powder, and others. According to the report, powder represented the largest segment.

Route of Administration Insights:

• Oral
• Enteral
   

A detailed breakup and analysis of the medical foods market based on route of administration has also been provided in the report. This includes oral and enteral. According to the report, oral accounted for the largest market share.

Application Insights:

• ADHD
• Depression
• Diabetes
• Cancer
• Alzheimer's Disease
• Metabolic Disorders
• Others
   

A detailed breakup and analysis of the medical foods market based on the application has also been provided in the report. This includes ADHD, depression, diabetes, cancer, Alzheimer’s disease, metabolic disorders, and others. According to the report, diabetes accounted for the largest market share.

Distribution Channel Insights:

• Supermarkets
• Hospital and Retail Pharmacies
• Online Pharmacies
• Others
   

A detailed breakup and analysis of the medical foods market based on the distribution channel has also been provided in the report. This includes supermarkets, hospital and retail pharmacies, online pharmacies, and others. According to the report, hospital and retail pharmacies accounted for the largest market share.

Regional Insights

• 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
     

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (the United Kingdom, China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, North America was the largest market for medical foods. Some of the factors driving the North America medical foods market included the growing construction of healthcare facilities, increasing advancements in treatment procedures, rising rates of hospitalization, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global medical foods market. Detailed profiles of all major companies have also been provided. Some of the companies covered Abbott Healthcare Private Limited, Alfasigma S.p.A., Danone S.A., Fresenius Kabi AG, Mead Johnson & Company LLC (Reckitt Benckiser), Medtrition Inc., Meiji Holdings Co. Ltd., Metagenics Inc. (Alticor), Nestlé S.A., Primus Pharmaceuticals Inc., Targeted Medical Pharma Inc., and Victus Inc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the medical foods market from 2016-2027.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global medical foods market.
• The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the medical foods industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.