Global Medical Food Market to Reach USD 49.91 Billion by 2034, Growing at a 6.2% CAGR | FMI

The Global Medical Food Industry reached USD 20,721.9 million in 2019. Demand for Medical Food registered a 5.4% Compound Annual Growth Rate from 2019 to 2023, indicating that the global industry would reach USD 27,351.0 million in 2024. Over the projection period (2024 to 2034), global sales of Medical Food are expected to exhibit a 6.2% CAGR, ultimately totaling a sales value of USD 49,913.5 million by the end of 2034.

The Global Medical Food Industry is a rapidly growing healthcare-related activities sector that deals with the research & development, and manufacturing of nutritional products for the management of different disease states. Such products are usually recommended by healthcare specialists for the medical care of patients with special medical necessities such as eating disorders, digestive problems, and hereditary diseases.

Currently, the industry is undergoing various trends that are influencing its growth and development. First, there is a trend that involves the growing interest in personalized nutrition, which deals with customizing medical foods according to the patient's needs. Another trend is the increase in the use of clean-label and sustainable products as consumers are becoming aware of the health of natural ingredients.

Unlock Exclusive Insights! Get Your Sample Report at a Discount - Don't Miss Out on Key Market Trends: https://www.fmisamplereport.com/sample/rep-gb-19856

Besides, the industry is experiencing the reorientation towards more efficient and patients' centered targeted nutritional therapy due to the development of medical science. The industry is also experiencing a rise in awareness of gut health and microbiome as more studies show why these aspects are important in health. All in all, the Global Medical Food industry is an active and changing market that is influenced by several factors including science, regulation, and industry consumption.

"Companies should invest in research and development to create innovative and targeted nutrition solutions and to build strong relationships with healthcare professionals and patients to better understand their needs and preferences to become market leaders" - says Nandini Roy Choudhury, Client Partner at Future Market Insights

Who is winning?
Successful Global Medical Food companies are the ones that can develop and adjust according to changing consumer demands and behaviors. They are funding R&D in pursuit of targeted and effective nutrition solutions, and are also making concerted efforts on sustainability and clean label products. At the same time, these organizations are establishing effective connections with healthcare providers and patients to gain insight into their needs and preferences. To succeed in this market, other companies should focus on innovation, stakeholder engagement, and sustainability. In addition, they should have patient-dimensional marketing strategies and deliver specialized solutions for specific patients.

Prominent players in the landscape include Abbott Nutrition, Danone Nutricia, Nestle Health Science, Mead Johnson Nutrition, Fresenius Kabi, Nutricia, Sanofi, and Baxter International.

Moreover, the players involved in the global market for medical foods are focusing on forming strategic alliances and partnerships to enhance their market share. Such players can increase their coverage, broaden the availability of their products and stay competitive by collaborating with healthcare providers, research organizations and distribution channels.
•In 2022, Abbott Nutrition developed the Ensure Max Protein Plus shake brand which contains extremely high-protein nutritional shakes that were aimed at enhancing muscle health and recovery for people with certain medical problems.
•In 2021, Fresenius Kabi, who is mainly active in the manufacture of parenteral and enteral nutrition products, launched Dipeptiven, a unique mixture of medical food for critical patients.
•In 2021, Danone, a multinational food and beverage corporation, carried out the acquisition of Follow Your Heart, a plant-based dairy alternative producer. This acquisition extended the reach of Danone in the fast-growing plant-based medical nutrition market.

Leading Companies
• Abbott Nutrition
• Danone Nutricia
• Nestle Health Science
• Mead Johnson Nutrition
• Fresenius Kabi
• Nutricia
• Sanofi
• Baxter International
• B. Braun
• Victus
• Meiji Holdings
• Ajinomoto Cambrooke
• Medtrition
• Hormel Health Labs
• Kate Farms
• Others

Discover the Full Details in Our Report: https://www.futuremarketinsights.com/reports/medical-food-market

Get valuable insights into Global Medical Food Market:

Future Market Insights, in its new offering, provides a thorough, detailed and unbiased analysis of the Global Medical Food Market, presenting Historical Demand data for the years 2019-2023 and Forecast statistics for the years 2024-2034.

The study categorises the valuable insights on the Global Medical Food Market based on Product Type, Route of Administration, Application, Distribution Channel and Region. As per Product Type, the industry has been categorized into Amino Acid-Based, Vitamin / Mineral-Supplemented, Lipid-Based, Carbohydrate-Based, Protein-Based and Others. As per Route of Administration, the industry has been categorized into Oral, Enteral and Parenteral. As per Application, the industry has been categorized into Nutritional deficiencies, Gastrointestinal disorders, Metabolic disorders, Neurological disorders, Renal disorders, Paediatric nutrition and Others. As per Distribution Channel, the industry has been categorized into Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Nursing Homes and Others. Industry analysis has been carried out in key countries of North America, Latin America, Western Europe Eastern Europe, Balkans & Baltic, Russia & Belarus, Central Asia, East Asia, South Asia & Pacific and Middle East & Africa.

Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.