PUBLISHER: Polaris Market Research | PRODUCT CODE: 1421740
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1421740
The global medical foods market size is expected to reach USD 37.65 billion by 2032, according to a new study by Polaris Market Research. The report "Medical Foods Market Share, Size, Trends, Industry Analysis Report, By Product (Pills, Powder, Liquid, Others); By Route of Administration (Oral, Enteral); By Application; By Region; Segment Forecast, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The market for medical foods is a fast-growing segment within the broader healthcare and nutrition industry. Medical foods are different from conventional foods and dietary supplements because they are specially formulated to address specific medical conditions and dietary requirements. Healthcare professionals commonly prescribe these products to manage or treat conditions such as metabolic disorders, nutritional deficiencies, and other medical conditions where a specialized diet can be beneficial.
The global market for medical foods is expanding due to the increasing prevalence of chronic diseases, a growing aging population, and heightened awareness of the importance of nutrition in managing health. This market encompasses a wide range of products, from enteral nutrition formulas for patients with digestive disorders to amino acid-based products for individuals with metabolic disorders, making it a diverse and dynamic industry.
The medical foods sector involves pharmaceutical companies, food and beverage manufacturers, and specialized medical food companies. The regulatory framework for medical foods varies from one country to another, with different definitions and requirements. This can be challenging but also presents opportunities for market growth. As the demand for personalized nutrition and targeted dietary interventions increases, the medical foods market is expected to see sustained growth. Innovative products and solutions will emerge to meet the diverse needs of patients and consumers looking to improve their health through nutrition. The market's trajectory is influenced by medical research advances, changes in healthcare policies, and shifting dietary preferences of consumers, making it a field of continuous interest and investment in the broader healthcare and nutrition industry.
The medical foods industry is evolving in response to changing healthcare requirements and customer preferences. Personalized nutrition is gaining traction as customized medical foods are being developed to match individual genetic and metabolic profiles. Additionally, there is a growing emphasis on natural and clean-label ingredients, as consumers demand products with fewer additives and allergens. Digital health and telemedicine are also playing a crucial role in distributing and prescribing medical foods, making it simpler for patients to obtain them.
The powder segment dominated the market in 2022, driven by its extensive availability, convenience, and customization to cater to various age groups and patient needs.
The liquid segment is poised for rapid growth, driven by increased adoption, particularly among pediatric and geriatric populations.
The oral segment dominated the market with the highest revenue share, as oral administration remains the prevalent and expanding choice for medical food products in various formats, including powders, pills, and pre-thickened products.
North America led the market due to the presence of major global players, along with strategic initiatives like acquisitions, mergers, and product launches by industry players.
The global key market players include: Abbott, Danone, Fresenius Kabi, Friso, Mead Johnson & Company, LLC, Medtrition, Inc., Morinaga Milk Industry, Nestle S.A., Primus Pharmaceuticals, Inc., Targeted Medical Pharma, Inc.
Polaris Market Research has segmented the Medical Foods market report based on product, route of administration, application, and region: