Global Medical Foods Market Report 2023: Increasing Geriatric Population Drives Growth
DUBLIN, May 8, 2023 /PRNewswire/ -- The "Medical Foods Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global medical foods market grew from $19.65 billion in 2022 to $21.04 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The medical foods market is expected to grow to $27.62 billion in 2027 at a CAGR of 7.0%.
Major players in the medical foods market are Nestle, Mead Johnson & Company LLC, Fresenius Kabi AG, Danone, Primus Pharmaceuticals Inc., Abbott Laboratories, Metagenics Inc., Targeted Medical Pharma Inc., Medtrition Inc., Cerecin Inc., Entera Health Inc., Vaya Pharma Inc., Physician Therapeutics LLC, Alfasigma spA, and MicroBiome Therapeutics LLC.
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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.
The main types of medical food include pill, powder, and others. The medical food pills refer to a small pellet or a tablet often coated and consumed by swallowing whole or by chewing. Medical food pills are specially formulated to meet nutritional requirements of patients with various medical conditions such as digression, ADHD, and others. They are used in treatment of Alzheimer's Disease, Diabetic Neuropathy, Nutritional Deficiency, ADHD, and others. They are sold through online, retail, and institutional channels.
The medical foods market research report is one of a series of new reports that provides medical foods market statistics, including medical foods industry global market size, regional shares, competitors with a medical foods market share, detailed medical foods market segments, market trends and opportunities, and any further data you may need to thrive in the medical foods industry. This medical foods market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Constant innovations in product development is a key trend gaining popularity in the medical foods market. The companies operating in the medical foods sector are developing innovative products with greater efficacy to cater the demand from customers with specific niche diseases such as metabolic disorders, ADHD, and others. For instance, In February 2020, Galen US Inc., an Ireland-based pharmaceutical company launched PKU EASY Microtabs, a palatable alternative to protein substitutes, and it helps patients above 8 years to manage incurable condition "inherited metabolic disorder, phenylketonuria".
North America was the largest region in the medical foods market in 2022. 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 and Africa.
The countries covered in the medical foods market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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, according to the US agency for international public health WHO, the global population aged 60 years and older will increase to 1.4 billion by 2030 from 1 billion in 2020. By 2050, the global population of adults aged 60 and up will have doubled (2.1 billion). Between 2020 and 2050, the number of people aged 80 and more is predicted to triple, reaching 426 million. Therefore, the increase in the geriatric population is expected to propel the growth of the medical foods market.
The medical foods market consists of sales of oral rehydration products, amino acids, and probiotics. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Key Topics Covered:
1. Executive Summary
2. Medical Foods Market Characteristics
3. Medical Foods Market Trends And Strategies
4. Medical Foods Market - Macro Economic Scenario
4.1 COVID-19 Impact On Medical Foods Market
4.2 Ukraine-Russia War Impact On Medical Foods Market
4.3 Impact Of High Inflation On Medical Foods Market
5. Medical Foods Market Size And Growth
5.1. Global Medical Foods Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Medical Foods Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Medical Foods Market Segmentation
6.1. Global Medical Foods Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Other Types
6.2. Global Medical Foods Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Alzheimers Disease
- Diabetic Neuropathy
- Nutritional Deficiency
- Other Applications
6.3. Global Medical Foods Market, Segmentation By Sales Channel , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Retail Sales
- Online Sales
- Institutional Sales
7. Medical Foods Market Regional And Country Analysis
7.1. Global Medical Foods Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Medical Foods Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/7pyah
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