Medical foods Market Report Overview:
The global medical foods market is experiencing a major growth, and will grow considerably in next few years. Medical foods are specially framed and processed foods for dietary management and for people in need of distinctive nutrition’s that cannot be met by normal diet alone. The medical food also helpful for specific disease such as Alzheimer’s, diabetic neuropathy, nutritional deficiency, depression, and others. The route of administration can be through oral or enteral route depending on the absorption capacity of the patient. The medical foods formulated to be consumed or administered enterally under the supervision of doctors. Further, it is recommended by a physician as part of an overall diet to manage and reduce the risk of a disease or condition or symptoms.
COVID-19 scenario analysis:
- The nutrition management/treatment is very important to enhance immune response against RNA viral infection. Thus, prevention, diagnosis and treatment of malnutrition should therefore, be routinely included in the management of COVID-19 patients. For instance, according to the Food and Agriculture Organization, 2019, around 256.1 million people of the globe are undernourished.
- Initiatives’ taken by the governments to improve the health of the patients during this pandemic for medical supplies deliveries implemented in various countries.
- Disruption of the supply chain across the globe has affected the distribution of the medical cooling equipment market. Thus, this discontinuity in proceedings of business operations directly influences revenue drift of the medical foods market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Rise in number of geriatric population with chronic diseases such as sarcopenia and increase in awareness among population regarding medical foods. In addition, nutritional deficiency among the population and increase in shift of the population towards more healthy foods supplements are major factors driving the medical foods market. However, absence of regulations and proper standards for medical foods are the hampers the market growth to some extends. Conversely, growing focus by manufacturers on developing disease specific formulas effective patient's nutrition or diet care has propelled the growth of medical foods in near future.
The global medical foods market trends are as follows:
New product launches and collaborations to flourish the market
The launches of new products and constant innovations have significantly driven the market growth. For instance, For instance, in 2019, Ironshore pharmaceuticals launched Jornay PM extended-release capsule, a CNS stimulant approved by the FDA for the treatment of ADHD patients. Further in 2020, innovative medical food has launched an innovative medical food PKU EASY Microtabs for people diagnosed with rare metabolic disorder in UK. Furthermore, In January 2020, Nestlé entered into an asset purchase agreement (APA) to expand its business of medical nutrition by acquiring Zenpen.
Surge in usage in medical applications
Manufacturers have been focusing on producing new products. Therefore, the medical foods market is in rising phase, where manufacturers are coming up with products used for new disease symptoms. Further, Companies in the medical foods market are increasing their R&D muscle to develop products that meet requirements of the FDA such as products intended for oral intake or administered enterally. Therefore, new products development for most of the companies for medical foods helps in leading their way through this market.
Key benefits of the report:
- This study presents the analytical depiction of the global medical foods industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global medical foods market share.
- The current market is quantitatively analyzed to highlight the global medical foods market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed global market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Medical foods Market research report:
- What are the leading market players active in the medical foods market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Medical foods Market Report Highlights
By Route of Administration
By Distribution Channel
Key Market Players
Targeted Medical Pharma, Inc, Abbott Laboratories, Fresenius SE & Co, KGaA, Danone S.A, Reckitt Benckiser Group plc, Primus Pharmaceuticals, Inc, Cerecin Inc, Nestlé S.A, Meiji Holdings and Co., Ltd, Metagenics, Inc.
Boston Scientific Inc