According to a report “Medical Foods Market Size, Share & Trends Analysis By Route Of Administration (Oral, Enteral), By Product (Pills, Powders, Others), By Application, By Sales Channel (Retail, Online, Institutional), And Segment Forecasts, 2019 – 2025” published by Grand View Research, Inc, The global Medical Foods Market size is expected to reach USD 27.20 billion by 2025, registering a CAGR of 6.7% from 2019 to 2025, according to a new report by Grand View Research, Inc. Rising geriatric population and increasing prevalence of chronic diseases are among the key factors driving the market. According to the WHO estimates published in February 2018, the population aged 60 years and above is expected to increase from 12% in 2015 to 22% by 2050. Non-communicable diseases impose a high economic burden on health systems globally. According to a study conducted by the researchers from University of Liège, Belgium, the population suffering from sarcopenia in Europe is expected to increase from 11.1% in 2016 to 12.9% in 2045.
Key Takeaways from the report:
- Orally administered medical foods accounted for the highest revenue share and are projected to maintain the dominance in future owing to ease in administration and their commercial viability
- Enteral administrationis expected to witness the fastest CAGR of 7.2% over the forecast period
- Diabetic neuropathy held the largest revenue share in 2018 owing to high disease prevalence. However, chronic kidney disorder is expected to emerge with the fastest CAGR of 9.7% from 2019 to 2025
- Institutional sales emerged as the largest sales channel segment in 2018. However, the online sales segment is projected to register the fastest CAGR during the forecast years
- Asia Pacific is among the prominent regions owing to huge geriatric population base and high burden of chronic diseases
- Danone S.A., Nestle S.A., Abbott Laboratories, Fresenius Kabi, and Mead Johnsons & Company, LLC are the major companies in the medical foods market
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Medical foods help treat and prevent age-related sarcopenia. Thus, the demand for medical foods in the management of chronic conditions, such as sarcopenia, is expected to augment the market development. Moreover, various public and private initiatives in the field of clinical nutrition is projected to boost the market further. A number of manufacturers are extending their capabilities in the sports nutrition market with various strategic initiatives, such as M&A and new product launches, to fulfill the escalating demand. For instance, in May 2016, Hormel Foods introduced HORMEL VITAL CUISINE, a range of Ready-to-Eat (RTE) meals, whey protein powders, and nutritional shakes. This product line was specially designed to meet the nutritional requirements of cancer patients.
Grand View Research has segmented the global medical foods market on the basis of route of administration, product, application, sales channel, and region:
Medical Foods Route of Administration Outlook (Revenue, USD Million, 2014 – 2025)
Medical Foods Product Outlook (Revenue, USD Million, 2014 – 2025)
Medical Foods Application Outlook (Revenue, USD Million, 2014 – 2025)
- Chronic kidney disease
- Minimal hepatic encephalopathy
- Chemotherapy-induced diarrhea
- Pathogen-related infections
- Diabetic neuropathy
- Alzheimer’s disease
- Nutritional deficiency
- Orphan diseases
- Eosinophilic esophagitis
Medical Foods Sales Channel Outlook (Revenue, USD Million, 2014 – 2025)
- Online Sales
- Institutional Sales
- Retail Sales
Medical Foods Regional Outlook (Revenue, USD Million, 2014 – 2025)
- North America
- Asia Pacific
- New Zealand
- South Korea
- Latin America
- South Africa
- Saudi Arabia
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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