The global Medical Foods market size is expected to be worth around US$ 30.40 billion by 2028, according to a new report by Vision Research Reports.
The global Medical Foods market size was valued at US$ 20.18 billion in 2020 and is anticipated to grow at a CAGR of 5.5% during forecast period 2021 to 2028.
The growing prevalence of chronic conditions along with the increasing geriatric population adopting medical foods and rising awareness regarding clinical nutrition amongst healthcare professionals and patients are the key growth drivers. The rising adoption of healthy alternatives in daily lives due to the rising costs of medical services is yet another factor driving the market growth. Many patients suffer from nutrient deficiencies, due to chronic conditions and the side effects of the drugs used for their treatments. For instance, nutritional deficiency is one of the common conditions during the treatment of cancer. Medical foods can be beneficial in addressing such deficiencies, creating growth opportunities for the market.
Oral administration dominated the market with a share of 70.9% in 2020. This high share is attributable to the high commercial viability of orally administered products and high preference for orally administered medical foods owing to ease in consumption. Oral supplements are available in various forms such as powders, pills, puddings, and pre-thickened products. For instance, Modulen, a medical food provided by Nestle is useful in the restoration of nutritional requirements in patients suffering from Crohn’s disease.
The enteral administration segment is expected to register lucrative growth over the forecast period. The rising prevalence of chronic conditions such as cancer, cardiovascular diseases, resulting in several metabolic disorders that lead to difficulty in consumption of diet during the treatment and technological advancements in allied markets such as enteral feeding devices is positively impacting the market growth.
In 2020, the others' segment accounted for the highest revenue share of 52.0% in the medical foods market owing to increasing application areas of medical foods, high commercial availability, and easy administration of these products. The others' segment comprises of liquid, semi-liquid, and semi-solid products. Furthermore, owing to ease of consumption, liquid formulations are preferred by geriatric as well as pediatric populations, thereby increasing its overall market share. Some of the examples of liquid formulations are Nutrison Energy by Danone, Glucerna (Therapeutic Nutrition Shake) by Abbott, and Novasource by Nestle.
In 2020, diabetic neuropathy accounted for the highest revenue share of 23.2% owing to an increase in diabetes prevalence and a rise in the number of patients that are at risk of developing some level of neuropathy. For instance, according to Healthline, around 60 to 70% of people suffering from diabetes have some or other form of neuropathy. Furthermore, the risk of neuropathy significantly increases with aging, change in diet, and unhealthy lifestyle and this leads to an increased focus on nutritional management, thereby fueling the market growth.
In addition, the chronic kidney disease (CKD) segment is expected to expand at the highest CAGR during the forecast period. Changes in nutritional requirements of patients suffering from CKD and the rising prevalence of kidney diseases, mainly in the geriatric population are some of the major factors boosting the segment growth. For instance, according to the CDC estimates, in 2019, the prevalence of CKD in the U.S. was around 38% in people aged 65 years or above.
The institutional sales segment dominated the market with the highest revenue share of over 40% in 2020. Medical foods are consumed under medical supervision and the consumption of enteral and oral products is high in healthcare institutions such as hospitals, clinics, and care centers. In addition, there is an increase in demand for these products in inpatient facilities. These factors are responsible for the high market share of the institutional sales segment.
The online sales segment is expected to register lucrative growth over the forecast period. The shift in the trend toward e-commerce platforms, along with the convenience offered by this sales channel is positively impacting the market growth. Thus, with the penetration of e-commerce, there is a gradual shift toward the online purchase of medical foods, thereby offering lucrative market opportunities.
North America dominated the global market with a revenue share of 29.9% in 2020. The key factors contributing to the highest revenue share include the presence of key market players and high revenue generated by these players in this region. In addition, strategic initiatives by players, increasing prevalence of chronic conditions, and rising adoption of medical foods by healthcare professionals and patients are other factors supporting the regional market growth.
Targeted Medical Pharma, Inc.
Primus Pharmaceuticals, Inc.
Mead Johnson & Company, LLC.
Fresenius Kabi AG
By Route of Administration
Chronic Kidney Disease
Minimal Hepatic Encephalopathy
Pathogen Related Infections
By Sales Channel
Middle East Africa
The Medical Foods market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Medical Foods market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Medical Foods market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Medical Foods market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Medical Foods market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Medical Foods capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Medical Foods by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Medical Foods market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Medical Foods market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Medical Foods market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Medical Foods industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Medical Foods market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Medical Foods market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Medical Foods market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Medical Foods market. These factors have benefited the growth of the global market for Medical Foods. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Medical Foods. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Medical Foods are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are: