Medical Foods Market Size in 2020 - 2030

Medical Foods Market: Overview

• According to the latest report published by Transparency Market Research on the global medical foods market for the historical period 2018-2019 and forecast period from 2020 to 2030, high demand for medical food products is projected to be a major driver of the global medical foods market during the forecast period

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• The global medical foods market was valued at US$ 18 Bn in 2019 and is anticipated to expand at a CAGR of ~6% from 2020 to 2030
• The report analyzes the current and future scenario of the global medical foods market
• The global medical foods market report comprises an elaborate executive summary, which includes a snapshot that provides information about various segments of the market. It also provides information and data analysis of the global medical foods market with respect to the segments based on product type, application, distribution channel, and region.
• A detailed qualitative analysis of drivers, restraints, and opportunities of the global medical foods market has been provided in the overview section. Additionally, the section comprises competitive matrix and company profiles, along with business overview to understand the competition landscape of the global medical foods market.
• This section of the report also provides market attractiveness analysis by region and market share analysis by key players, thereby presenting a thorough analysis of the overall competitive scenario in the global medical foods market

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Medical Foods Market: Key Drivers

• Providing adequate nutritional support is a central component for the care of prolonged or chronically ill patients. Hence, demand for clinical nutrition is constantly increasing among patients with chronic disorders such as gastrointestinal disorders, short bowel syndrome, ischemic bowel disease, Crohn's disease, and renal failure. Rise in prevalence of these diseases drives the demand for medical foods.
• Statistics from various government organizations indicate that incidence of chronic diseases such as gastrointestinal disorders and chronic kidney diseases is increasing rapidly
• For instance, incidence of inflammatory bowel diseases such as Crohn's disease and ulcerative colitis is rising. This drives the demand for medical food products across the globe. As per the statistics provided by the Crohn's & Colitis Foundation of America, around 1.6 million people in the U.S. have Crohn's disease or ulcerative colitis. The organization also stated that more than 70,000 new cases are diagnosed with Crohn's disease and ulcerative colitis in the U.S. each year.
• Moreover, the National Kidney Foundation stated that around 10% of the world's population is affected by chronic kidney disease each year. The Centers for Disease Control and Prevention also noted that more than 20 million people in the U.S. have chronic kidney disease each year.
• Hence, factors and statistics mentioned above indicate that increase in incidence of various chronic disorders is likely to fuel the growth of the global medical foods market

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Rise in Cases of Malnutrition

• Malnutrition is when the body is not able to get enough nutrients, which may be caused due to poor diet, chronic diseases, or digestive conditions. The effects of malnutrition on morbidity result chiefly from delayed wound healing, decreased functional status, impaired immune function, and convalescence from illness.
• Oncology patient groups are at high risk of malnutrition. Multiple studies have found that malnutrition is a considerable financial drain on healthcare systems, as it affects 70% of hospitalized patients across the world. The high cost burden is caused due to frequent hospital visits, extended hospital stays, and a greater risk of complications.
• Parenteral nutrition plays a significant role in cases where malnourished patients need to be administered nutrition; however, enteral nutrition is inadequate to meet their body nutritional requirements
• Rise in prevalence of malnutrition coupled with an increased use of nutrition for cancer treatment is expected to propel the global market

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Medical Foods Market: Key Segments

• In terms of product type, the global medical foods market has been classified into pills, powder, liquids, and others
• Based on application, the global medical foods market has been categorized into diabetes, cancer, neurological & psychological disorders, metabolic disorder, pain management, gastrointestinal disorders, ophthalmology, and others
• Based on distribution channel, the global medical foods market has been categorized into pharmacies & drug stores, online channels, supermarkets & hypermarkets, and others
• The market size and forecast for each of the segments have been provided in terms of US$ Mn from 2018 to 2030, along with their respective CAGRs for the forecast period from 2020 to 2030, considering 2018 as the base year

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Medical Foods Market: Regional Outlook

• Geographically, the global medical foods market has been segmented into four major regions: North America (the U.S. and Canada), Europe (the U.K., Germany, France, Spain, Italy, and Rest of Europe), Asia Pacific (China, India, Japan, Australia & New Zealand, and Rest of the Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa)
• The market size and forecast for each of these regions and the mentioned countries/sub-regions have been provided for the period from 2018 to 2030, along with their respective CAGRs for the forecast period from 2020 to 2030, considering 2018 as the base year. The research study also covers the competitive scenario in these regions.

Companies Mentioned in Report

• The report also profiles the following major players in the global medical foods market based on various attributes such as company overview, financial overview, product types, business strategies, and recent developments. These include
o Nestlé S.A.
o Danone S.A.
o Abbott Laboratories
o Fresenius SE & Co. KGaA,
o Targeted Medical Pharma, Inc.
o Primus Pharmaceuticals, Inc.
o Reckitt Benckiser Group plc
o Meiji Holdings and Co., Ltd.
o Cerecin Inc.,
o Metagenics, Inc.

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About Us

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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