Overview and Scope
Medical foods refer to a food that has been prepared to be ingested or given orally under the direction of a doctor and designed for the particular dietary. It is designed to help control an existing disease or condition through food. Medical foods are exempt from the labelling requirements for nutrition content claims and health claims.
Sizing and Forecast
The medical foods market size has grown strongly in recent years. It will grow from $21.35 billion in 2023 to $23.07 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to increased prevalence of chronic diseases, advances in medical and nutritional science, growing aging population, rise awareness of the role of nutrition in managing health conditions, regulatory support for medical foods.
The medical foods market size is expected to see strong growth in the next few years. It will grow to $31.23 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to growing focus on preventive healthcare, increasing demand for personalized nutrition, expansion of applications in metabolic disorders, advances in nutrigenomics and personalized medicine, rising consumer interest in functional foods. Major trends in the forecast period include development of condition-specific medical food formulations, collaboration between food and pharmaceutical industries, expansion of distribution channels, including e-commerce, integration of digital technologies for personalized nutrition, emphasis on clean-label and natural ingredients in medical foods.
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/medical-foods-global-market-report
Segmentation & Regional Insights
The medical foods market covered in this report is segmented –
1) By Type: Pills, Powder, Other Types
2) By Application: Alzheimers Disease, Diabetic Neuropathy, Nutritional Deficiency, ADHD, Other Applications
3) By Sales Channel : Retail Sales, Online Sales, Institutional Sales
North America was the largest region in the medical foods market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical foods market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6353&type=smp
Major Driver Impacting Market Growth
The increase in the geriatric population is significantly contributing to the growth of the medical foods market. At the molecular and cellular level, aging is caused by the accumulation of a range of biomolecular damage throughout time. This results in a gradual loss of functional capacity, as well as an increased risk of disease and eventually, death. These changes are not linear or continuous, and they have been only distantly related to a person’s chronological age. As people get old, their dependency on certain nutritional foods increases especially medical foods to manage their health from chronic and age-related diseases. For instance, in October 2022, according to a report published by the World Health Organization (WHO), a Switzerland-based agency responsible for international public health, one in six people is expected to be 60 or older by the year 2030, in the entire world. By 2050, there will be 2.1 billion people worldwide who are 60 years old or older. Therefore, the increase in the geriatric population is expected to propel the growth of the medical foods market.
Key Industry Players
Major companies operating in the medical foods market report are Nestlé SA, Danone SA, Fresenius Kabi AG, Mead Johnson & Company LLC, Primus Pharmaceuticals Inc., Abbott Nutrition Inc., Accera Inc., Ajinomoto Cambrooke Inc., Applied Food Sciences Inc., Axcan Pharma Inc., Cambrooke Therapeutics Inc., Danone Nutricia North America Inc., Health and Happiness (H&H) Group Limited, RFI Ingredients LLC, Scientific Hospital Supplies Ltd, Solace Nutrition LLC, Synthetic Biologics Inc., Targeted Medical Pharma Inc., VAYA Pharma Inc., Baxter Healthcare Corporation, Braun Melsungen AG, DuPont Nutrition & Biosciences, Enteral Nutrition Holdings Inc., Fresenius Medical Care AG & Co. KGaA, Hill’s Pet Nutrition Inc., Hollister Incorporated, Intensive care unit Medical Inc., Medtronic plc, Nestlé Health Science S. A., Nutricia North America Inc., Otsuka Pharmaceutical Co. Ltd., Pfizer Nutrition Inc., Koninklijke DSM NV, Stryker Corporation, Total Parenteral Nutrition Solutions Inc.
The medical foods market report table of contents includes:
1. Executive Summary
2. Medical Foods Market Characteristics
3. Medical Foods Market Trends And Strategies
4. Medical Foods Market – Macro Economic Scenario
5. Global Medical Foods Market Size and Growth
.
.
.
31. Global Medical Foods Market Competitive Benchmarking
32. Global Medical Foods Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Medical Foods Market
34. Medical Foods Market Future Outlook and Potential Analysis
35. Appendix
Top Major Players:
Nestlé SA
Danone SA
Fresenius Kabi AG
Mead Johnson & Company LLC
Primus Pharmaceuticals Inc
Explore the trending research reports from TBRC:
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
