June 20, 2024

Medical Foods Market Size to Worth USD 38.90 Billion By 2033

The global medical foods market size is expected to increase USD 38.90 billion by 2033 from USD 23.59 billion in 2023 with a CAGR of 5.13% between 2024 and 2033.

Key Points

  • The North America medical foods market size accounted for USD 7.75 billion in 2023 and is expected to rise around USD 12.45 billion by 2033.
  • North America led the global market with a major market share of 32% in 2023.
  • Asia Pacific will be the fastest-growing region in the global market during the projected period.
  • By route of administration, the oral segment has generated more than 71% of market share in 2023.
  • By route of administration, the enteral segment is expected to witness the fastest growth over the forecast years.
  • By product type, the powder segment accounted for the largest market share in 2023.
  • By product type, the liquid segment is anticipated to grow at the fastest rate during the forecast period.
  • By application, the cancer segment has held the largest market share in 2023.
  • By sales channels, the institutional sales channel segment has captured more By sales channels, the online sales segment will be the fastest-growing segment during the forecast period.

Medical Foods Market Size 2024 to 2033

The global medical foods market is experiencing significant growth driven by increasing awareness about nutritional therapy for managing specific medical conditions. Medical foods are specially formulated and intended for the dietary management of diseases with distinctive nutritional needs. These products are not considered conventional foods or drugs but play a crucial role in supporting patients’ health and well-being. The market encompasses a diverse range of products tailored for various conditions such as metabolic disorders, gastrointestinal diseases, and neurological disorders.

Get a Sample: https://www.precedenceresearch.com/sample/4244

Growth Factors

Several factors contribute to the growth of the medical foods market. One key driver is the rising prevalence of chronic diseases and conditions that require specialized nutritional interventions. With a growing aging population and increasing incidence of lifestyle-related diseases, there is a greater demand for targeted nutritional solutions. Additionally, advancements in food technology and scientific research have enabled the development of more effective and palatable medical food formulations, expanding their acceptance and adoption among patients and healthcare professionals.

Region Insights

Regionally, the market for medical foods varies based on healthcare infrastructure, regulatory frameworks, and disease prevalence. Developed regions like North America and Europe lead the market, driven by robust healthcare systems and a higher awareness of nutritional therapies. In emerging economies of Asia-Pacific and Latin America, increasing healthcare expenditure and a rising burden of chronic diseases are fueling market growth. Localized preferences and cultural dietary practices also influence product demand and market dynamics across different regions.

Medical Foods Market Scope

Report CoverageDetails
Growth Rate from 2024 to 2033CAGR of 5.13%
Global Market Size in 2023USD 23.59 Billion
Global Market Size in 2024USD 24.80 Billion
Global Market Size by 2033USD 38.90 Billion
Largest MarketNorth America
Base Year2023
Forecast Period2024 to 2033
Segments CoveredBy Route of Administration, By Product, By Application, and By Sales Channel
Regions CoveredNorth America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Medical Foods Market Dynamics

Drivers

The main drivers of the medical foods market include the growing focus on personalized nutrition and precision medicine. Tailoring nutritional interventions based on individual health profiles and genetic factors is gaining traction, driving demand for customized medical food solutions. Furthermore, collaborative efforts between healthcare providers, food manufacturers, and research institutions are fostering innovation in medical food development, leading to the introduction of more effective and evidence-based products.

Opportunities

The market presents opportunities for expansion through strategic partnerships and investments in research and development. Collaborations between pharmaceutical companies and food manufacturers can accelerate product innovation and regulatory approvals. Moreover, targeting specific disease segments with unmet nutritional needs, such as rare genetic disorders or oncology-related conditions, can open up niche markets and drive growth opportunities for industry players.

Challenges

Despite growth prospects, the medical foods market faces challenges related to regulatory complexities and market access. Differentiating medical foods from conventional foods and dietary supplements requires clear guidelines and compliance with regulatory standards across regions. Additionally, pricing pressures and reimbursement policies for medical foods pose challenges for market penetration, particularly in less developed healthcare systems.

Read Also: Infertility Drugs Market Size to Worth USD 6.73 Bn By 2033

Medical Foods Market Recent Developments

  • In July 2022, Nestle launched the first Food for Medical Purpose (FSMP) for cancer patients suffering from tumor conditions. The product was called Oral Impact Su Yi Su. It took five years to approve this product. It contains arginine, fish oil omega-3, and nucleotide on top of other ingredients. The product was designed to address the problem of inflammation and compromised immunity.

Medical Foods Market Companies

  • Danone
  • Nestlé
  • Abbott
  • Targeted Medical Pharma Inc.
  • Primus Pharmaceuticals Inc.
  • Fresenius Kabi AG
  • Mead Johnson & Company, LLC

Segments Covered in the Report

By Route of Administration

  • Oral
  • Enteral

By Product

  • Powder
  • Pills
  • Liquid
  • Other

By Application

  • Chronic Kidney Disease
  • Minimal Hepatic Encephalopathy
  • Chemotherapy-induced Diarrhoea
  • Pathogen-related Infections
  • Diabetic Neuropathy
  • Adhd
  • Depression
  • Alzheimer’s Disease
  • Nutritional Deficiency
  • Orphan Diseases
    • Tyrosinemia
    • Eosinophilic esophagitis
    • Fpies
    • Phenylketonuria
    • Msud
    • Homocystinuria
    • Others
  • Wound Healing
  • Chronic Diarrhea
  • Constipation Relief
  • Protein Booster
  • Dysphagia
  • Pain Management
  • Parkinson’s Disease
  • Epilepsy
  • Other cancer-related Treatments
  • Severe protein Allergy
  • Cancer
  • Cachexia
  • Other

By Sales Channel

  • Online Sales
  • Retail Sales
  • Institutional Sales

By Geography

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East & Africa

Contact Us:

Mr. Alex

Sales Manager

Call: +1 9197 992 333

Email: sales@precedenceresearch.com

Web: https://www.precedenceresearch.com

Blog: https://www.expresswebwire.com/

Blog: https://www.uswebwire.com/

Blog: https://www.dailytechbulletin.com/

Blog: https://www.autoindustrybulletin.com/