Fact.MR – A Market Research and Competitive Intelligence Provider: The global medical foods industry has a market value of US$ 20 billion in 2021, and is predicted to grow at a CAGR of 5% between 2022 and 2032, amassing a market value of US$ 32.6 billion.
Covid-19 Outbreak has Resulted in Preference for Immunity Boosting Supplements, Hence Propelling the Medical Foods Demand
The latest Fact.MR market study on the global medical foods market provides insights into key developments registered across segments in terms of route of administration, product, application and distribution channel. The study also highlights organic and inorganic growth strategies adopted by key players to gain a competitive edge in the medical foods market.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global medical foods industry has a market value of US$ 20 billion in 2021, and is predicted to grow at a CAGR of 5% between 2022 and 2032, amassing a market value of US$ 32.6 billion.
Medical food manufacturers are developing new items aimed at different age groups. Furthermore, the new coronavirus boosted demand for immune-boosting medicinal foods. Because persons with chronic illnesses are more likely to get the virus, medical food sales have increased in the last two years.
Sales have risen principally as a result of a growing reliance on health-enhancing supplements and an increase in the prevalence of chronic lifestyle disorders.
In response to the COVID-19 pandemic, medical food manufacturers have released a variety of tablets, powders, and liquids. As the demand for immunity-boosting foods grew, producers focused on developing new products with a variety of flavors that appealed to people of all ages.
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Furthermore, the rising prevalence of diabetes and blood pressure disorders, as well as the coronavirus infection, has increased demand for medical meals. Furthermore, in the previous two years, growing awareness of health-related issues has boosted medical food sales by leaps and bounds.
According to the National Health Council, chronic diseases affect more than 40% of Americans. Diabetes, heart disease, and depression are all common ailments among Americans. Furthermore, the rising cancer prevalence in the United States is a cause for concern. As a result, individuals are investing in medical food products in order to live a healthy lifestyle that helps them cope with illnesses and boosts their immunity.
Furthermore, international companies’ dominance in North America is paving the road for medical food product innovation. As a result, the region’s production of medical foods has increased significantly.
“Growing prevalence of chronic ailments along with the dominance of coronavirus has accelerated the demand for medical foods. New product launches are playing a key role in the escalating demand for medical foods.” states a Fact.MR analyst.
| Report Attributes | Values |
| Market Size Value in 2021 | US$ 20 Bn |
| Expected Market Value for 2022 | US$ 22.6 Bn |
| Project Market Forecast Value in 2032 | US$ 32.6 Bn |
| Global Growth Rate (2022-2032) | 4% |
Key Takeaways:
- By application, chemotherapy-induced diarrhea is predicted to account for more than 18% of the medical food industry by application.
- By distribution channel, institutional sales are estimated to account for more than 45% of the medical foods industry.
- The medical foods business is predicted to have a market share of approximately 35% in North America.
- In Asia Pacific, the medical foods business is predicted to have a nearly 30% market share.
- By the end of 2022, the global market for medical foods is expected to reach $22 billion.
Growth Drivers:
- Increasing dependence on health boosting supplements and growing prevalence of chronic lifestyle diseases to boost the sales of medical foods.
- Covid-19 outbreak has resulted in rising demand for immunity boosting medical foods, hence stimulating the medical foods market.
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Competitive Landscape
The ever-increasing demand for medical foods has driven major producers to strengthen their market positions by pursuing methods such as developing new product formulations, working with current market participants, or purchasing small or medium-sized businesses. The following are some noteworthy developments in this area:
- In October 2020, Nestle launched a ready-to-drink nutritional meal for patients suffering from indigestion and diarrhoea in China. The organisation focuses on offering gastrointestinal problems with solutions.
- In June 2018, Vaya plus, a drug for ADHD patients weighing more than 97 pounds, was launched by VAYA Pharma. By expanding its product portfolio, the company is focusing on delivering solutions for a variety of diseases.
Key Companies Profiled by Fact.MR –
- Nestle
- Mead Johnson & Company, LLC
- Fresenius Kabi
- Danone
- Primus Pharmaceuticals, Inc
- Medtrition, Inc.
- Abbott
- Targeted Medical Pharma, Inc.
More Valuable Insights on Medical Foods Market
Fact.MR provides an unbiased analysis of the medical foods market, presenting forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global medical foods market with a detailed segmentation on the basis of:
- By Route of Administration
- Oral Medical Foods
- Enteral Medical Foods
- By Product
- Medical Food Pills
- Medical Food Liquids
- Medical Food Powder
- Other Medical Food Products
- By Application
- Medical Foods for Chronic Kidney Disease
- Medical Foods for Minimal Hepatic Encephalopathy
- Medical Foods for Diabetic Neuropathy
- Medical Foods for Depression
- Medical Foods for Nutritional Deficiency
- Medical Foods for Chemotherapy Induced Diarrhoea
- Medical Foods for Alzheimer’s Disease
- Medical Foods for Pathogen Related Infections
- Medical Foods for ADHD
- Medical Foods for Wound Healing
- Medical Foods for Chronic Diarrhoea
- Medical Foods for Parkinson’s Disease
·By Distribution Channel
- Online Sales of Medical Foods
- Institutional Sales Medical Foods
- Retail Sales Medical Foods
Key Questions Covered in the Medical Foods Market Report
- The report offers insight into medical foods market demand outlook for 2022-2032
- The market study also highlights projected sales growth for medical foods market between 2022 and 2032
- Medical Foods market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Medical foods market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
Explore Fact.MR’s Coverage on the Healthcare Domain –
OTC Vitamins And Dietary Supplements Market Forecast - Self-medication for primary health conditions is becoming more popular, and dietary supplements are becoming more popular in daily use, which is predicted to raise sales of OTC vitamins and dietary supplements.
Parenteral Drug Market Analysis - The increased frequency of chronic illnesses such as cancer, cardiovascular disease, and diabetes has been the primary revenue driver for parenteral drugs around the world, and this trend is unlikely to change very soon.
Self-Administered Medication Market Scope - The self-administered medication market players are focusing on developing drugs and vaccinations that can be used for treatment at home in response to rising demand for self-treatment and healthcare management.
Geriatric Medicines Market Insights - Continuous research is contributing to the development of innovative drugs, which is positively impacting the geriatric medicine industry’s sales. In the forecast term, the geriatric medicines market is expected to gain traction due to the increasing prevalence of high-quality geriatric care management systems.
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Source: Fact.MR