The expanding senior population requires specialised nutritional treatment for a number of chronic and neurogenic disorders such as dementia, stroke, multiple sclerosis, and swallowing difficulties, which is likely to drive the medical foods market throughout the forecast period. According to the World Health Organisation, the global population of persons aged 60 and more is predicted to double between 2015 and 2050, rising from 12% to 22%. Furthermore, rising demand for specialised meals to address chronic illnesses such as obesity, diabetes, and other nutritional ailments is projected to push the usage of medicinal foods.
Medical Foods Market Report Scope and Research Methodology
The study examines the most important Medical Foods market trends and how they will affect new business investments and industry development. Market trends influence new technology, new rules, government investment, new uses, foreign entry, and other industry dynamics. This research contains a detailed trend analysis to help clients make decisions about expanding their presence in the Medical Foods market.
The Medical Foods Market Research offers unique important statistics, facts, information, trends, and competitive landscape insights in the specific industry. The current state of the Medical Foods The market is examined, and the market is projected through 2029. The report is likely to include company profiles, capacity, production, price, cost, revenue, and contact information for the world's major manufacturers of Medical Foods market share.
Medical Foods Market overview:
According to market research, the entire Medical Foods Market is predicted to rise rapidly. The study discusses the Medical Foods market's growth drivers, main restraints, emerging difficulties, and current opportunities. The research includes a region- and segment-specific analysis of the dynamics and Medical Foods market size.
Medical Foods Market size was valued at US$ 17.03 Bn. in 2020 and the total revenue is expected to grow at a CAGR of 6.5% through 2021 to 2027, reaching nearly US$ 26.46 Bn.
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Medical Foods Market Regional Insights:
The report includes a detailed analysis of all the regions and their countries mentioned below:
- Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
- North America (the United States, Mexico, and Canada.)
- South America (Brazil etc.)
- The Middle East and Africa (GCC Countries and Egypt.
Medical Foods Market Segmentation:
The market is divided into two sections based on the route of administration: oral and enteral. The growing usage of the oral route for therapeutic meal administration is likely to boost segment expansion in the global market during the forecast period. A growth in the manufacture of oral goods such as powders, pills, and pre-thickened products is also likely to boost sector adoption over the projection period. Modulen, for example, is a Nestle medical food product that helps Crohn's disease sufferers restore nutritional requirements. These are the reasons projected to fuel the growth of this sector in the Medical Foods market between 2021 and 2027.
The medical foods market is divided into four categories: pills, powder, liquid, and others. This is owing to the widespread commercial availability of powdered medical meals. Furthermore, the segment growth is being fueled by rising demand and convenience of consumption among paediatric and geriatric patients suffering from a variety of chronic ailments. Powder formulations, which can be administered to patients of all ages via enteral and oral methods, are also widely suggested by clinicians and are likely to boost segment expansion. Manufacturers are also focusing on creating consumer-friendly medical meals.
The market is divided into three segments based on the sales channel: online sales, institutional sales, and retail sales. In 2021, the institutional sales channel, which includes hospitals, home care settings, and disability facilities, accounted for over 40.0% of total revenue. An growth in patient visits to hospitals and other healthcare institutions for the diagnosis and treatment of a variety of chronic and dietary disorders is driving the market. Medical meals are recommended by doctors for the treatment of various ailments. Furthermore, patients' increased preference for contacting a doctor at a hospital for chronic disease care is likely to fuel the market.
Medical Foods Market Key Players include:
Nestle
Danone
Abbott
Mead Johnson & Company, LLC
Fresenius Kabi
Targeted Medical Pharma, Inc.
Primus Pharmaceuticals, Inc.
Medtrition, Inc.
Reckitt Benckiser Group plc.
Metagenetics, Inc.
Cerecin Inc.
Alfasigma USA, Inc.
Key Questions answered in the Medical Foods Market Report are:
- What is Medical Foods Market?
- What is the expected CAGR of the Medical Foods market during the forecast period?
- What is the expected Medical Foods market size by 2029?
- What factors are affecting the Medical Foods market growth?
- Which region held the largest share of the Medical Foods market?
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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