Medical Foods Market Size To Reach $33.4 Billion By 2030


 

Medical Foods Market Growth & Trends

The global medical foods market size is anticipated to reach USD 33.4 billion by 2030, growing at a CAGR of 5.1% during the forecast period, according to a new report by Grand View Research, Inc. Rising geriatric population, prevalence of chronic diseases, a shift toward consuming disease-specific formulas, and a growing demand for neonatal and preterm enteral feeding are some of the factors driving this growth.

The oral route of the administration segment dominated the market in 2023. The major factors contributing to this growth include a high preference for oral medical foods owing to the ease of consumption and high commercial viability of products administered orally. In addition, these foods are available in a variety of forms such as pills, powder, puddings, and pre-thickened products, thereby fueling the segment’s growth.

In 2023, the powder product segment accounted for the largest revenue share. Factors contributing to the growth include the rising application areas of powdered medical foods, ease of administration, and higher commercial viability. The liquid segment is anticipated to grow at the fastest CAGR from 2024 to 2030, owing to the ease of consumption of liquid-based foods for special medical purposes by the pediatric and geriatric population.

The chemotherapy-induced diarrhea emerged as the largest application segment in 2023. Diarrhea caused by chemotherapy treatment is one of the common problems among cancer patients and the rising prevalence of cancer is one of the major reasons for this increasing the revenue share. For instance, according to the National Cancer Institute statistics, about half of the patients develop diarrhea when treated with chemotherapy agents and the rate can reach 80% with respect to certain chemotherapy agents.

The institutional sales channel segment dominated the market in 2023. Higher penetration and adoption of oral and enteral medical foods in the healthcare institutions such as clinics, hospitals, and care centers and the rising consumption of these products are some of the major factors contributing to the large revenue share. In addition, the rising demand for such products in inpatient facilities and increasing adoption for such products are boosting the market growth.

North America dominated the market with a revenue share of approximately 30% in 2023.. The presence of major players and high revenue generated by them in the region are the key factors contributing to this growth. In addition, strategic developments, the growing prevalence of chronic conditions, and the increasing adoption of medical foods by patients and healthcare professionals are the other factors supporting the growth.

 

Request a free sample copy or view the report summary: https://www.grandviewresearch.com/industry-analysis/medical-foods-market

 

Medical Foods Market Report Highlights

  • The oral route of the administration segment dominated the market in 2023

  • The powder product segment accounted for the largest revenue share in 2023

  • Chemotherapy-induced diarrhea emerged as the leading application segment in 2023

  • The institutional sales channel segment held the largest revenue share in 2023

  • In 2023, North America held the largest revenue share, due to the increasing prevalence of chronic diseases and the presence of key players

  • Key players in the medical foods industry are driving growth through strategies like collaborations, acquisitions, and product launches. For instance, in May 2022, Nestlé Health Science acquired a premium Brazilian health and nutrition lifestyle brand, Puravida. This acquisition aims to expand Nestlé's customer base in Brazil.

 

Medical Foods Market Segmentation

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

Medical Foods Route of Administration Outlook (Revenue, USD Million, 2018 - 2030)

  • Oral

  • Enteral

Medical Foods Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Powder

  • Pills

  • Liquid

  • Other

Medical Foods Application Outlook (Revenue, USD Million, 2018 - 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

  • Cachexia

  • Other

Medical Foods Sales Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Online Sales

  • Retail Sales

  • Institutional Sales

Medical Foods Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S

    • Canada

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • Sweden

    • Denmark

    • Norway

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Africa (MEA)

    • Saudi Arabia

    • UAE

    • South Africa

    • Kuwait

    • Qatar

List of Key Players in the Medical Foods Market

  • Danone S.A.

  • Nestlé S.A.

  • Abbott

  • Targeted Medical Pharma Inc. (Physician Therapeutics LLC, a division of the company)

  • Primus Pharmaceuticals Inc.

  • Fresenius Kabi AG

  • Mead Johnson & Company, LLC

 
Browse Full Report: https://www.grandviewresearch.com/industry-analysis/medical-foods-market

Comments

Post a Comment

Popular posts from this blog

Virtual Clinical Trials Market Size Reaches USD 12.9 Billion By 2030

Image
  The global  virtual clinical trials market  size is expected to reach USD 12.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.7% from 2022 to 2030. The COVID-19 pandemic has significantly impacted the market. The growing need for patient diversity clubbed with enhanced data collection in clinical trials is boosting the market growth. There has been a rise in the R&D of new drugs and vaccines that has increased the volume and complexity of clinical trials. Virtual clinical trials eliminate challenges posed by traditional clinical trials for example delays in patient recruitment and time-consuming procedures. Also, studies have revealed that around 75.0% of people favored a mobile trial over traditional ones and 80.0% of patients are more likely to participate in a clinical trial that uses mobile technology. The market is recovering at a significant pace after the pandemic as it offers various benefits to pati
Read more

Industrial Refrigeration Systems Market Size, Share & Trends Report, 2030

Image
  Industrial Refrigeration Systems Market Growth & Trends The global  industrial refrigeration systems market  size is anticipated to reach USD 27.66 billion by 2030, registering a CAGR of 4.4% from 2023 to 2030, according to a new report published by Grand View Research, Inc. The demand for industrial refrigeration is increasing due to the fast-moving consumer goods and retail food which needs efficient storage for perishable edible items. Governments are taking initiatives to support and strengthen the cold chain infrastructure and shifting towards eco-friendly refrigeration systems. Global warming and climate change have alarmed nations to take the necessary step to curb the crisis. As a result, industrial refrigeration system manufacturing companies have expressed concerns regarding the potential of global warming and ozone depletion of their refrigerants. As a result, companies are focusing on technologies to offer improved cost-effectiveness, lesser toxic refrigerants, lower
Read more

U.S. Virtual Visits Market Size To Reach USD 105.5Bn By 2030

Image
  U.S. Virtual Visits Market Growth & Trends The  U.S. virtual visits market  size is expected to reach USD 105.5 billion by 2030, expanding at a CAGR of 29.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing demand for telehealth and teleconsultation and introduction of new and advanced technologies has positively impacted the growth of the market in the U.S. Increasing penetration of smartphones and assisted technologies has also been a key factor for the fast growth of the market. In the service segment, cold and flu management had the largest market share in 2022. The major factor behind the growth of the market is the growing demand for teleconsultations for patients for treatment of common conditions like cold and flu to reduce the chances of contracting additional illnesses due to hospital visits. The availability of specialists through telehealth and teleconsultations, even in remote areas has brought about a revolution in the virtual
Read more