According to the latest report from the IMARC group, entitled, “Medical Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027″, The Global medical food market size reached a value of US$20.7 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$29.2 billion by 2027, growing at a CAGR of 5. 8% in 2022-2027
Medical foods are intended for consumption or enteral administration under the supervision of a physician. Their consumption helps in the specific dietary management of a condition or disease for which distinctive nutritional needs are prescribed according to a medical assessment. They are advised for patients with a limited or impaired ability to ingest, digest, absorb or metabolize ordinary foods or certain nutrients due to chronic therapeutic or medical requirements.
Reference year: 2022
Forecast year: 2022-2027
The growth of the geriatric population, in conjunction with the increasing prevalence of chronic diseases, represents one of the major factors driving the sales of medical foods across the world. They help manage symptoms of dementia, multiple sclerosis, and various neurological conditions. Additionally, increasing patient awareness of clinical nutrition is bolstering the growth of the market. Apart from this, the booming e-commerce sector, increasing sales of smart devices, and increasing internet penetration have led to increased purchases of medical foods through online platforms. Other factors propelling the growth of the market include increasing funding for research and development (R&D) activities of several manufacturers and increasing adoption of healthy alternatives due to escalating costs of medical services.
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Note: We regularly track the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
Global Medical Food Market Analysis and segmentation 2022-2027:
Abbott Laboratories, Alfasigma SpA, Danone SA, Fresenius Kabi AG, Mead Johnson & Company LLC (Reckitt Benckiser), Medtrition Inc., Meiji Holdings Co. Ltd., Metagenics Inc. (Alticor), Nestlé SA, Primus Pharmaceuticals Inc., Targeted Medical Pharma Inc. and Victus Inc.
The report has segmented the market based on region, product, route of administration, application, and distribution channel.
Breakdown by product:
Distribution by route of administration:
Breakdown by application:
- The Depression
- Alzheimer’s disease
- Metabolic disorders
Breakdown by distribution channel:
- Hospital and retail pharmacies
- Online pharmacies
Breakdown by region:
- North America: (United States, Canada)
- Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, RussiaOthers
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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