Market Overview
The most significant market driver for the global Medical Foods Market growth is growing awareness regarding a healthy lifestyle. Awareness of medical foods that are required for nutrition as well as the prevention of chronic disorders is strengthening the market growth. Other factors elevating the global medical foods market towards growth include growing consumer requirements, consumer awareness regarding dietary supplements, trend of adopting healthy diet, increasing geriatric population, increasing chronic ailments among the growing population, increasing research & development (R&D) in medical sector, government aid for increased growth of the organized retail sector, nutritional deficiency, and new innovations in medical sector.
Medical foods can be described as foods that are specially formulated and intended for the dietary management of any ailment that requires distinctive nutritional needs that cannot be met by normal diet alone. A new report on the global medical foods market, published by Market Research Future (MRFR), predicts that this market can see growth during the forecast period (2017-2023).
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Key Players
Big players in the global Medical Foods Market are Abbott (USA), Danone (France), Fresenius Kabi AG (Germany), Nestlé (Switzerland), Mead Johnson & Company LLC (USA), Primus Pharmaceuticals Inc. (USA), and Targeted Medical Pharma Inc. (USA).
Latest Industry News
At the 10th China (Taizhou) International Medical Expo between 18-20 SEP 2019, many Chinese medicines, as well as medical foods, were launched and showcased. 30 SEP 2019
Market Segmentation
The global medical foods market segmentation encompasses ailment, form, and nutritional ingredients. MRFR’s research on the market highlights many factors of the market in-depth.
The ailment-based segmentation of this market covers Alzheimer’s disease, depression, diabetic neuropathy, and nutritional deficiency. The diabetic neuropathy is defined as a type of nerve damage that diabetic people are prone to. The four types of diabetic neuropathy are autonomic neuropathy, peripheral neuropathy, mononeuropathy, and radiculoplexus neuropathy.
Regarding form, the market has been segmented into pills, powders, and others. Based on nutritional ingredients, the market has been segmented into isoflavones, minerals, proteins, phytosterols, Omega-3, and vitamins. Isoflavones are the substituted derivatives of isoflavone, which is a type of naturally occurring isoflavonoids. Many isoflavones act as phytoestrogens in mammals. Present in plant cell membranes, phytosterols are a group of naturally occurring compounds.
Regional Segmentation
A geographical outlining of the global medical foods market covers North America, Europe, Asia Pacific, and Rest of the World (RoW).
Not only North America holds the largest market share in the global market, but it is also expected to retain its spot during the forecast period due to the presence of established market players in medical food products in the USA and many product promotions via celebrity endorsements. Other factors that can help the market growth in this region include advanced medical research and various innovations. After the USA, Canada and Mexico generate maximum revenue in the market.
Europe’s performance closely follows the North American market and its prominence can be attributed to the availability of government funding for medical research, health-conscious lifestyle among consumers, increasing geriatric population, investment by food brands in medical foods, regular launches of new medicines, and the presence of some key market players. The markets that generate maximum revenue in this region are France, Germany, Italy, and the UK. The survey of the remaining countries in Europe featured in this report calculates the strong addition to market revenue from various other countries in this region.
In the Asia Pacific region, the market is surging due to escalating consumption of dietary supplements for enhanced body metabolism, the presence of multi-national companies involved in the production of medical foods, growing awareness campaigns, and rising per capita disposable income of the consumers. The weighty markets in this region are China, India, and Japan. An examination of the remaining countries in the Asia Pacific region featured in this report adds the extra market revenue from some other countries.
The RoW segment covers uncategorized regions and countries. Countries that are important markets in this region are Argentina, Brazil, and South Africa.
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