Medical Foods Market Size, Share, Growth, Trend and Key Brand Analysis Report

The global medical foods market size is expected to reach USD 27.20 billion by 2025, registering a CAGR of 6.7% from 2019 to 2025, according to a new report by Grand View Research, Inc. Rising geriatric population and increasing prevalence of chronic diseases are among the key factors driving the market. According to the WHO estimates published in February 2018, the population aged 60 years and above is expected to increase from 12% in 2015 to 22% by 2050. Non-communicable diseases impose a high economic burden on health systems globally. According to a study conducted by the researchers from University of Liège, Belgium, the population suffering from sarcopenia in Europe is expected to increase from 11.1% in 2016 to 12.9% in 2045.

Medical foods help treat and prevent age-related sarcopenia. Thus, the demand for medical foods in the management of chronic conditions, such as sarcopenia, is expected to augment the market development. Moreover, various public and private initiatives in the field of clinical nutrition is projected to boost the market further. A number of manufacturers are extending their capabilities in the sports nutrition market with various strategic initiatives, such as M&A and new product launches, to fulfill the escalating demand. For instance, in May 2016, Hormel Foods introduced HORMEL VITAL CUISINE, a range of Ready-to-Eat (RTE) meals, whey protein powders, and nutritional shakes. This product line was specially designed to meet the nutritional requirements of cancer patients.

Further key findings from the study suggest:

• Orally administered medical foods accounted for the highest revenue share and are projected to maintain the dominance in future owing to ease in administration and their commercial viability
• Enteral administration is expected to witness the fastest CAGR of 7.2% over the forecast period
• Diabetic neuropathy held the largest revenue share in 2018 owing to high disease prevalence. However, chronic kidney disorder is expected to emerge with the fastest CAGR of 9.7% from 2019 to 2025
• Institutional sales emerged as the largest sales channel segment in 2018. However, the online sales segment is projected to register the fastest CAGR during the forecast years
• Asia Pacific is among the prominent regions owing to huge geriatric population base and high burden of chronic diseases
• Danone S.A., Nestle S.A., Abbott Laboratories, Fresenius Kabi, and Mead Johnsons & Company, LLC are the major companies in the medical foods market
  
  

Access full research report on global medical foods market: 

www.grandviewresearch.com/industry-analysis/medical-foods-market

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Created on Sep 11th 2019 07:52. Viewed 314 times.

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