The global medical foods market size is expected to reach USD 30.4 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 6.3% over the forecast period. This market is driven by rising geriatric population, increasing prevalence of chronic diseases, and growing focus of policymakers on the management of malnutrition. Dietary management of chronic diseases and rare disorders is the emerging focus area for manufacturers of medical foods, which is also positively impacting the market growth. Patients with chronic diseases develop nutritional deficiencies owing to adverse effects of the disease or the drugs that are used for treatment. Medical foods address these nutritional deficiencies, further driving their consumption.
Moreover,
rising prevalence of chronic diseases requiring nutritional management of
patients is a key factor which is expected to drive the market growth.
According to WHO Noncommunicable Diseases Progress Monitor (2017), chronic
diseases such as cancer, diabetes, and cardiovascular diseases are among the
leading causes of death globally, accounting for nearly 70.0% of the deaths
worldwide. According to Milken Institute, the economic burden of chronic
diseases in U.S. was estimated to be USD 1.1 trillion in 2016. A constant rise
has been observed in the prevalence of chronic diseases such as Alzheimer's
disease, attention deficit hyperactivity disorder (ADHD), osteoporosis,
osteoarthritis, and central nervous system disorders, which require clinical
dietary management. Medical foods, also known as foods for special medical
purposes, are intended for the dietary management of patients with impaired or
limited capacity to digest, ingest, absorb, and metabolize a normal diet and
for patients with special nutrient requirements.
Diabetic
neuropathy emerged as the largest application segment in 2019 owing to the
increase in prevalence of diabetes and rise in the number of patients that are
at risk of developing some level of neuropathy. Various initiatives are being
undertaken for dietary management of diabetes and are among the key market
drivers. However, the chronic kidney diseases segment is expected to witness
the highest growth rate over the forecast period.
Full Research Report On Medical Foods Market Visit Here:
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Further key
findings from the report suggest:
- Orally administered medical
foods held the largest share in 2019 due to ease in administration along
with high commercial availability
- Diabetic neuropathy emerged
as the leading application segment in 2019; however, chronic kidney
disorder is expected to register the highest growth rate over the forecast
period owing to the rising prevalence of chronic diseases such as
cardiovascular diseases and cancer
- Asia Pacific dominated the
global market in 2019 due to the presence of several target diseases cases
such as obesity and malnutrition in the region
- Key players operating in the
medical foods market include Danone S.A., Abbott Laboratories, Nestle
S.A., Mead Johnsons & Company, LLC, and Fresenius Kabi.
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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 - 2027)
- Oral
- Enteral
Medical Foods
Product Outlook (Revenue, USD Million, 2016 - 2027)
- Pills
- Powder
- Others
Medical Foods
Application Outlook (Revenue, USD Million, 2016 - 2027)
- 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
- Others
- Other
Medical
Foods Sales Channel Outlook (Revenue, USD Million, 2016 - 2027)
- Online Sales
- Institutional Sales
- Retail Sales
Medical Foods
Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Spain
- Italy
- Russia
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- Singapore
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company, registered
in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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