Market Overview
Global Medical Foods Market is projected to grow at a CAGR of 6.4% over the forecast period. Medical foods are principally formulated food products intended to be used under the supervision of medical and other appropriate health professionals. Their main function is to supply nutrients which is not available to the consumers through normal diet. They can be administered through oral or enteral route depending on the absorption capacity of the patient. Moreover, medical foods are made with Generally Recognized as Safe (GRAS) ingredients which include vitamins and minerals, proteins, omega-3, isoflavones, phytosterols, and others. North America is dominating the medical foods market and is expected to have a substantial growth over the forecast period 2017-2023. In North America, the U.S. is the major contributor for medical foods. Growing problem of Alzheimer’s diseases, majorly among the Americans is driving the market for medical foods in this region.
Increasing awareness for nutritional benefits related to various diseases is further boosting the growth of medical foods market. Moreover, growing geriatric population is further having a positive impact on the growth of medical foods in this region. All these factors will lead to the growth of North America market at a CAGR of 7.2% during the forecast period 2017-2023.
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Medical Foods Market Key Players
This report includes a study of strategies such as mergers, acquisitions, and product launches by the major medical food’s players. It further includes product portfolios, developments of leading players, which includes Some of the key players profiled in the Global Medical Foods Market are Danone (France), Nestlé (Switzerland), Abbott (U.S.), Primus Pharmaceuticals Inc. (U.S.), Mead Johnson & Company, LLC (U.S.), Targeted Medical Pharma Inc. (U.S.), Fresenius KABI AG (Germany)
Medical Foods Market Segments
Medical foods market is segmented based on nutritional ingredients such as vitamins and minerals, proteins, omega 3, isoflavones, phytosterols, and others. Among all, proteins segment is dominating the market. However, omega-3 is witnessed to be the fastest growing segment in nutritional ingredients used for medical foods.
Based on the form, Medical Foods Market is segmented into pills, powder and others. Among all, pills segment is projected to be growing at the fastest rate and includes tablets and capsules. However, powder form is dominating the market over the past years.
On the basis of ailment, medical foods market is segmented into Alzheimer’s diseases, diabetic neuropathy, nutritional deficiency, depression, and others. Among all, diabetic neuropathy is dominating the market as majority of the diabetic consumers suffer from some kind of neuropathy. However, nutritional deficiency segment is witnessed to be the fastest growing segment over the forecast period.
Medical Foods Market Regional Analysis
Global Medical Foods Market is segmented into Europe, North America, Asia Pacific and rest of the world (RoW). North America is dominating the global market followed by Europe. Increasing awareness of medical foods in the U.S. and growing problem of Alzheimer’s diseases is driving the market for medical foods in this region.
Asia Pacific is projected to be the fastest growing region in which the major contributor is China. Continuous innovation and improved education towards medical foods will positively impact the market for rest of the world.
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