Global Medical Foods Market Report and Forecast 2024-2032

Global Medical Foods Market Size

The global medical foods market stood at a value of around USD 25.02 billion in 2023. The market is further expected to grow at a CAGR of 6% in the forecast period of 2024-2032 to attain a value of USD 42.26 billion by 2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Medical Foods Market Growth

Based on application, the diabetic neuropathy segment is predicted to hold a significant market share in the medical foods industry. This growth can be attributed to the increased incidences of diabetes across the globe. According to the WHO statistics, an estimated 1.5 million people succumbed to diabetes in 2019. In addition, diabetes can also lead to other severe health conditions such as blindness, kidney failure, strokes, and heart attack, among others.

Diabetic neuropathy involves nerve damage, which is a direct result of diabetes, wherein keeping the blood sugar under control is essential. In this regard, medical foods are being preferred to help manage the proper diet of patients, as diabetes can be controlled and treated by maintaining a healthy diet, engaging in physical activities, and going for regular medical check-ups. These factors are predicted to enhance the demand for medical foods to treat diabetic neuropathy in the forecast period.

Global Medical Foods Market Share

North America is estimated to hold a significant share of the medical foods industry in the forecast period. This growth can be attributed to the presence of leading market players in the region. The heightened investments in the healthcare industry and the availability of state-of-the-art healthcare infrastructure are also aiding the regional market growth. Moreover, the growing geriatric population with a heightened risk of acquiring diseases is also predicted to bolster the industry growth. The rising disposable incomes and improved living standards are also expected to contribute to the overall market growth in the coming years.

Medical Foods Industry Segmentation

Medical foods are specialised foods, which are consumed or enterally administered under the supervision of a medical practitioner. These are generally utilised in specialised dietary management. In addition, medical foods comprise highly purified therapeutic ingredients to provide nutrition and help treat certain diseases or a particular health condition. These foods are modified to add specific nutritional elements based on the medical requirement of patients.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

By route of administration, the market is bifurcated into:

• Oral
• Enteral

On the basis of product type, the market can be segmented into:

• Pills
• Powders
• Others

Based on application, the industry can be distributed into:

• Chronic Kidney Disease
• Minimal Hepatic Encephalopathy
• Chemotherapy-induced Diarrhea
• Pathogen Related Infections
• Diabetic Neuropathy
• ADHD
• Depression
• Alzheimer’s Disease
• Nutritional Deficiency
• Orphan Disease
• Others

Among these, the orphan disease segment can be further divided by type into phenylketonuria, eosinophilic esophagitis, FPIES, and others. 

Based on sales channel, the market can be categorised into:

• Online Sales 
• Institutional Sales
• Retail Sales

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Increased Incidences of Chronic Disorders to Augment the Global Medical Foods Industry

The increasing incidences of chronic diseases are anticipated to drive the medical foods industry growth in the coming years. According to the WHO statistics, approximately 17.9 million people succumbed to cardiovascular diseases in 2019, representing 32% of all deaths globally. In addition, a 5% increase was observed in diabetes-related premature deaths between 2000 to 2016. In this regard, medical foods are increasingly being adopted to help meet the nutritional requirements of patients and help reduce their mortality risk. Moreover, the growing geriatric population, which is more susceptible to severe ailments and injury, is also anticipated to propel the demand for medical foods. Furthermore, the rising awareness pertaining to medical foods and the increasing consciousness regarding health and well-being are also predicted to aid the industry growth. These factors are estimated to positively impact the market growth in the forecast period.

Key Industry Players in the Global Medical Foods Market

The report gives a detailed analysis of the following key players in the global medical foods market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Danone S.A
• Nestle S.A
• Abbott Nutrition 
• Targeted Medical Pharma Inc.
• Primus Pharmaceuticals, Inc.
• Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.

Key Highlights of the Report