Medical Foods Market - Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast 2017 - 2025
Global Medical Foods Market: Overview
One of the key factors boosting the growth of the global medical foods market is the rising awareness among the people regarding medical foods. The rising focus of the regulatory bodies on the manufacturing and labelling of medical foods will also be a key factor fuelling the growth of the medical foods market. In addition to this, the high focus by manufacturers on developing disease specific formulas effective patient's nutrition or diet care are also anticipated to result in the growth of the global medical foods market.
The report also enlists various factors which are anticipated to pose a challenge for the growth of the market. The current trends in the market and those that are anticipated to shape the future of the market have been discussed in detail in the report.
By product, the medical food market is segmented into powder, pill, and others. Of these the powder segment has held a key share in the market as many medical food products are manufactured in powdered form and consumed in a semi solid or liquid form. By application, the global medical foods market is segmented into depression, diabetic neuropathy, ADHD, Alzheimer's disease, and nutritional deficiency. Of these, diabetic neuropathy has been accounting for key shares within the market. The risk of neuropathy is boosted with age, diet changes, and unhealthy lifestyle.
In the years to come, it is anticipated that the nutritional deficiencies segment will develop a strong CAGR, as patients being treated for ADHD, autoimmune diseases, and cancer are likely to have high nutritional requirements, which is subsequently anticipated to boost the demand for medical foods.
Global Medical Foods Market: Snapshot
The global medical foods market has become increasingly important in the healthcare sector in recent years due to the rising awareness about its importance in complementing the treatment. Medical food comprises diets designed specifically to overcome the nutritional deficiencies caused by some diseases or to fulfill the specific dietary needs in the management of some diseases. The global medical foods market is likely to receive steady support from the healthcare sector in the coming years due to the rising prevalence of diseases such as Alzheimer’s among the elderly and ADHD among children, as these diseases are among the prime diseases that necessitate specific diet plans.
Global Medical Foods Market: Key Trends
The rising geriatric population is a major driver for the global medical foods market. Old people are more likely to develop nutritional disorders as well as to fall prey to other diseases that affect their ability to absorb nutrients from their diet. Nutrition deficiency disorders are also more common among the geriatric demographic than in other patient classes, leading to the geriatric population becoming a key consumer segment for the global medical foods market.
The increasing prevalence of diabetes across the world is another key driver for the global medical foods market. Diabetic neuropathy is the leading application of the global medical foods market and is likely to retain dominance in the coming years. Diabetic neuropathy is becoming common among diabetic patients due to their often unhealthy lifestyles, with close to three-quarters of all diabetes likely to also suffer from some form of neuropathy. This is a key driver for the global medical food market, as the rising prevalence of diabetes in emerging regions has, in conjunction with the rising investment in the healthcare sector, created a conducive environment for growth of the market.
The rising prevalence of ADHD among children is also likely to remain a key driver for the global medical foods market. The growing prevalence of the disease has led to intensive research into its causation and treatment. The role of nutrition in the management of psychological problems such as ADHD has thus come under the scanner. On the opposite end of the spectrum, the rising prevalence of neurodegenerative conditions among the geriatric population is also likely to remain a key driver for the global medical foods market in the coming years.
Global Medical Foods Market: Market Potential
The global medical foods market is likely to witness a steady shift towards pills and away from powders. While powders can be easily mixed with various types of food, many patients don’t enjoy their taste. This has led to pills becoming a preferred mode of delivery for many, and are thus likely to rise in demand in the global medical foods market in the coming years.
Apart from leading diseases such as diabetic neuropathy and Alzheimer’s, other diseases such as phenylketonuria (PKU) are also likely to come under the ambit of the medical food market in the coming years. In April 2017, PKU Sphere, a new medical food for patients of PKU was launched. PKU Sphere is claimed to contain a balanced mix of amino acids and glycomacropeptide, a protein essential for patients of PKU, who can’t digest phenylalanine and have to fulfill their protein requirements in alternate ways.
Global Medical Foods Market: Geographical Dynamics
North America is likely to remain the leading regional contributor to the global medical foods market in the coming years due to the ready availability of advanced healthcare technology and a solid database regarding the dietary needs of patients suffering from various diseases. The rising prevalence of diabetes in North America, due primarily to the unhealthy lifestyle practiced by citizens in developed countries such as the U.S., is also likely to be crucial for the medical foods market in North America in the coming years.
Global Medical Foods Market: Competitive Dynamics
The leading players in the global medical foods market include Abbott, Fresenius Kabi AG, Targeted Medical Pharma Inc., Danone, and Primus Pharmaceuticals Inc. The steady support to development of sophisticated disease-specific formulas is likely to benefit the medical foods market in the coming years.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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