Medical Foods Market

Medical Foods Market witnessed USD 19,215 Million in 2019, growing at a robust CAGR of 5.2% during forecast period.

Introduction of the Global Medical Foods Industry Report

Medical food refers to the food products that are formulated for the specific dietary management of diseases that required distinctive nutritional needs that cannot be met by a normal diet pattern. These food products should comply with all applicable FDA needs for foods, including various regulations related to current good manufacturing practices.

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Market Dynamic

Key Drivers and Emerging Trends

One of the biggest factors that is contributing to the growth of the global medical foods market share includes the rising prevalence of chronic conditions followed by the growing geriatric population, which is opting for medical food products. According to the Centers for Disease Control and Prevention, 6 in 10 adults in the U.S. have chronic diseases such as heart disease, cancer, chronic lung disease, stroke, diabetes, or any other illness. As per a report released by WHO, in 2020, approximately 462 million adults were underweight and medical foods and external feeding were considered as a first choice for offering nutrients to malnourished patients. In addition to this, the increasing awareness related to clinical nutrition among healthcare professionals and patients is another factor that is boosting the market’s growth. The patients are suffering from nutrient deficiencies mainly because of chronic conditions and the negative impact of drugs used in their treatments. For example, nutritional deficiency is one of the commonly found conditions during the treatment of cancer. Various medical food helps in recovering from deficiencies, which in turn, is further propelling the medical foods market growth.

Various initiatives such as mergers and acquisitions and expansion in the product offering is increasing the awareness among consumers related to medical foods and clinical nutrition. In 2018, Fresenius Kabi AG offered a grant of EUR 100,000 to support clinical nutrition research in Latin America for individuals having malnutrition. Thus, this factor will have a positive impact on the growing demand of the market.

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Product Type – Segment Analysis

Based on the product type, the nutritionally complete formulas segment is anticipated to grow at a higher CAGR during the forecast period. The increasing consumer awareness regarding the various benefits offered by medical food products, such as offering a combination of vitamins and minerals, and are formed to manage specific nutritional deficiencies, is one of the significant factors that is surging the segment’s growth. Moreover, this product type is easy to consume, which is a major reason for its growing preference among geriatric and pediatric populations.

Application – Segment Analysis

Based on the application, the diabetes segment is expected to witness a faster CAGR during the forecast period. The rising prevalence of diabetes at the global level is a key driver that is boosting the segment’s growth. As per International Diabetes Federation (IDF), in 2019, the total number of people having diabetes amounted to around 463 million, which is predicted to touch 700 million by 2045. Diabetic neuropathy is considered a major application of the medical foods market. It is increasingly adopted among diabetic patients owing to their unhealthy diet pattern. Thus, this factor will further propel the segment’s demand.

Distribution Channel – Segment Analysis

Based on the distribution channel, the others segment is projected to grow at a higher CAGR over the forecast period. The significant shift towards e-commerce platforms as they provide a convenient shopping experience is a major factor that is surging the segment’s growth. Furthermore, 24*7 availability and various discount offer offered by various brands are attracting consumers towards this segment.

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Regional – Segment Analysis:

Based on the region, Asia-Pacific region is predicted to dominate the market during the forecast period. The rising prevalence of various diseases such as diabetes, cancer, obesity, and cardiovascular diseases is increasing the demand for medical food products. As per IDF, 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. In addition to this, the rising adoption of medical food products by healthcare professionals and patients is further driving the regional market growth.

Top Market Players

Various notable players operating in the market include Danone, Nestlé, Abbott, TARGETED MEDICAL PHARMA INC., Primus Pharmaceuticals, Inc., Mead Johnson & Company, LLC, Medtrition, Inc., Fresenius Kabi India Pvt. Ltd., Meji Holdings Co., Ltd., and Alfasigma Group, among others.

Segments covered in the Report:

The global Medical Foods market has been segmented on the basis of Product Type, Application, Distribution Channel, and regions. Based on product type, the market is segmented into nutritionally complete formulas, nutritionally incomplete formulas, and oral rehydration products. Based on application, the market is segmented into diabetes, cancer, metabolic disorders, and others. Based on Distribution Channel, the market is segmented into supermarkets and hypermarkets, specialty stores, drug stores, and others. 

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Key questions answered in this research report:

• • At what pace is the global medical foods market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global medical foods market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global medical foods market?
  • Which product type generated maximum revenues in 2019 and identify the most promising product type during the forecast period?
  • What are the various application areas of global medical foods market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Medical Foods Market by Product Type

• • Nutritionally Complete Formulas
  • Nutritionally Incomplete Formulas
  • Oral Rehydration Products

Global Medical Foods Market by Application

• • Diabetes
  • Cancer
  • Metabolic Disorders
  • Others

Global Medical Foods Market by Distribution Channel

• • Supermarkets and Hypermarkets
  • Specialty Stores
  • Drug Stores
  • Others

Global Medical Foods Market by Region

• • North America Medical Foods Market (Option 1: As a part of the free 25% customization)
    • North America Medical Foods Market by Product Type
    • North America Medical Foods Market by Application
    • North America Medical Foods Market by Distribution Channel
    • US Medical Foods Market All-Up
    • Canada Medical Foods Market All-Up
  • Europe Medical Foods Market (Option 2: As a part of the free 25% customization)
    • Europe Medical Foods Market by Product Type
    • Europe Medical Foods Market by Application
    • Europe Medical Foods Market by Distribution Channel
    • UK Medical Foods Market All-Up
    • Germany Medical Foods Market All-Up
    • France Medical Foods Market All-Up
    • Spain Medical Foods Market All-Up
    • Rest of Europe Medical Foods Market All-Up
  • Asia-Pacific Medical Foods Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Medical Foods Market by Product Type
    • Asia-Pacific Medical Foods Market by Application
    • Asia-Pacific Medical Foods Market by Distribution Channel
    • China Medical Foods Market All-Up
    • India Medical Foods Market All-Up
    • Japan Medical Foods Market All-Up
    • Rest of APAC Medical Foods Market All-Up
  • RoW Medical Foods Market (Option 4: As a part of the free 25% customization)
    • RoW Medical Foods Market by Product Type
    • RoW Medical Foods Market by Application
    • RoW Medical Foods Market by Distribution Channel
    • Brazil Medical Foods Market All-Up
    • South Africa Medical Foods Market All-Up
    • Saudi Arabia Medical Foods Market All-Up
    • UAE Medical Foods Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Medical Foods Market All-Up

Major Players Operating in the Global Medical Foods (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Danone
  • Nestlé
  • Abbott
  • TARGETED MEDICAL PHARMA INC.
  • Primus Pharmaceuticals, Inc.
  • Mead Johnson & Company, LLC
  • Medtrition, Inc.
  • Fresenius Kabi India Pvt. Ltd.
  • Meji Holdings Co., Ltd.
  • Alfasigma Group