Medical Foods Market To Rise Up At Exponential Growth Due To Increasing Effort For The Dietary Management Of Diseases

  

Medical Foods Industry Overview

 

The global medical foods market size was valued at USD 21.2 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.2% from 2022 to 2030. The growing prevalence of communicable and non-communicable diseases and increasing effort for the dietary management of those diseases are anticipated to propel the market growth over the forecast years. For instance, as per the research data published by the University of Liege, it has been estimated that in Europe, the sarcopenia population will increase to 12.9% by 2045 from 11.1% in 2016. The increasing geriatric population suffering from several chronic and neurogenic disorders such as dementia, stroke, multiple sclerosis, and difficulty in swallowing requires specific dietary management, which, in turn, is expected to drive the market over the forecast years.

 

Gather more insights about the market drivers, restrains and growth of the Global Medical Foods Market

 

For instance, according to the WHO, the world population aged over 60 years of age is expected to be doubled from 12% to 22% between the years 2015 and 2050. Furthermore, increasing preference to consume specific foods in order to manage chronic diseases such as obesity, diabetes, and other nutritional diseases is anticipated to drive the adoption of medical foods. In addition, medical foods are intended for specific dietary management with distinctive nutritional requirements to treat specific diseases, which are expected to drive the market.

 

Growing product launch activities by the manufacturers and constant innovations in product development are the major factors anticipated to propel the product demand. Besides, in order to treat new inherited metabolic disorders and manage their incurable condition, there is a growing demand for the development of new food for special medical purposes. For instance, in October 2020, Nestle Health Science launched protein-based ready-to-drink nutritional food in China for special medical purposes (FSMPs). The main component of that drink is a galactomannan, a highly soluble dietary fiber, which can improve and prevent gastrointestinal intolerance and diarrhea. In addition, in June 2018, VAYA Pharma, Inc. introduced Vayarin Plus, an extra-strength formula, and expanded its medical food product offerings, which offer clinical dietary management for ADHD adults weighing more than 97 lbs and in adolescents. 

 

In addition, increasing consideration of medical foods to manage and control diabetic neuropathy and diabetes is expected to accelerate the market growth. Diabetes is one of the major chronic diseases and the prevalence has been constantly rising. According to the WHO data published in 2019, approximately 1.5 million deaths are caused directly due to diabetes and it was considered to be the ninth leading cause of death. An unhealthy lifestyle and diet are the leading causes of diabetic neuropathy and medical foods act as a remedy to improve and manage these kinds of disorders. For instance, as per the International Diabetic Federation data in 2019, about 463 million adults are living with diabetes and this number will rise to 700 million by 2045. 

 

Several industry consolidation activities by the manufacturers in the clinical nutrition industry are also expected to propel the market growth over the forecast years. Activities by the manufacturers such as acquisitions, mergers, product launches, and partnerships to enhance their product reach are expected to propel market growth over the coming years. For instance, in January 2020, Nestle entered into an Asset Purchase Agreement to expand its business of clinical nutrition by acquiring Zenpen. 

 

Browse through Grand View Research's Pharmaceuticals Industry Research Reports.

• Pediatric Vaccines Market - The global pediatric vaccines market size was estimated at USD 22.4 billion in 2016. An increase in government and non-government funding for the development of novel vaccines, along with initiatives for raising awareness about immunization, is likely to have a positive impact on market growth.
• Geriatric Medicine Market - The global geriatric medicine market was valued at nearly USD 540 billion in 2015. One of the key factors attributing to its rapid growth includes rapidly increasing geriatric population base. According to the estimates published by the United Nations in 2012, the global geriatric population was estimated to be nearly 809.4 million, and is anticipated to reach nearly 1.13 billion by 2022 and exceed a value of over 2 billion by 2050.

 

Medical Foods Market Segmentation

Grand View Research has segmented the global medical foods market on the basis of route of administration, product, application, sales channel, and region:

Medical Foods Route of Administration Outlook (Revenue, USD Million, 2016 - 2030)

• Oral
• Enteral

Medical Foods Product Outlook (Revenue, USD Million, 2016 - 2030)

• Pills
• Powder
• Liquid
• Others

Medical Foods Application Outlook (Revenue, USD Million, 2016 - 2030)

• Chronic Kidney Disease
• Minimal Hepatic Encephalopathy
• Chemotherapy-induced Diarrhea
• Pathogen Related Infections
• Diabetic Neuropathy
• ADHD
• Depression
• Alzheimer's Disease
• Nutritional Deficiency
• Orphan Diseases
  • Phenylketonuria
  • Eosinophilic Esophagitis
  • FPIES
  • MSUD
  • Homocystinuria
  • Tyrosinemia
  • Others
• Wound Healing
• Chronic Diarrhea
• Constipation Relief
• Protein Booster
• Dysphagia
• Pain Management
• Parkinson's Disease
• Epilepsy
• Other Cancer Related Treatments
• Severe Protein Allergy
• Other

Medical Foods Sales Channel Outlook (Revenue, USD Million, 2016 - 2030)

• Online Sales
• Institutional Sales
• Retail Sales

Medical Foods Regional Outlook (Revenue, USD Million, 2016 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

 

Market Share Insights

• January 2022: Danone launched Souvenaid, a powder version of medical nutrition drink. 
• August 2020: Nestle Health Science acquired IM HealthScience to expand its medical food portfolio. The companies are also focusing on new product development to broaden their product portfolio for different indications, which assists to hold a strong grip on the market.

 

Key Companies profiled:

Some prominent players in the global medical foods market include

• Nestle
• Danone
• Abbott
• Mead Johnson & Company, LLC
• Fresenius Kabi
• Targeted Medical Pharma, Inc.
• Primus Pharmaceuticals, Inc.
• Medtrition, Inc.

 

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