Number of pages: 100 | Report Format: PDF | Published date: April 17, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
Report Attribute |
Details |
Market Size Value in 2022 |
US$ 21.51 billion |
Market Size Value in 2031 |
US$ 33.85 billion |
CAGR |
5.17% |
Base Year For Estimation |
2022 |
Forecast Period |
2023 to 2031 |
Historical Year |
2021 |
Segments Covered |
Route of Administration, Product, Application, and Region |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global medical foods market was valued at US$ 21.51 billion in 2022 and is expected to register a revenue CAGR of 5.17% to reach US$ 33.85 billion by 2031.
Medical Foods Market Fundamentals
Medical food is defined as edibles formulated to be consumed or administered enterally under a physician’s supervision and intended for the specific dietary management of a disease or condition for which distinct nutritional requirements are established by medical evaluation based on recognized scientific principles.
The demand for medical foods is majorly for managing chronic diseases and the increased adoption of personalized nutrition. The market revenue is driven by the growing awareness among consumers about the benefits of medical foods in managing various health conditions. Moreover, the rise in healthcare expenditure and the government’s increased focus on improving healthcare settings, mostly in developing countries, is expected to drive the demand for medical foods in the forecast years. Moreover, nutrigenomics and nutrigenetics are increasingly investigating the interaction between nutrition and genes that potentially transform customized nutrition. Medical foods may be created based on a person’s genetic profile, considering their specific dietary needs and genetic predispositions. This precision nutrition method may pave the way for medicinal foods specifically designed to target gene-nutrient interactions and improve health outcomes.
Additionally, market players are constantly involved in developing various strategies to advance in this field and frequently engage with research institutes, healthcare providers, and other stakeholders. These alliances allow for the sharing of information, access to expertise, and the mobilization of resources to accelerate innovation in medical food development, clinical validation, and market access. Partnerships may also include combined product development, clinical trials, and co-marketing campaigns to raise awareness and encourage the use of medicinal foods.
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Medical Foods Market Dynamics
A key factor supporting the global medical foods market revenue is the growing incidences of disease-related malnutrition. Disease Related Malnutrition (DRM) is a condition defined by insufficient intake of calories, protein, and micronutrients, which results in altered body composition (lower muscle mass), reduced physical and mental performance, and poor clinical outcomes. According to the 2022 estimates by Danone Nutrica Research, on average, 1 in 4 hospitalized patients suffer from disease-related malnutrition (DRM). Additionally, DRM is particularly prevalent in older adults, patients with chronic diseases, and those who have undergone surgery or experienced trauma. Early identification and treatment of DRM can improve patient outcomes and reduce healthcare costs.
Additionally, many new market players are coming with new products in the medical foods market. For instance, in September 2020, Dutch Medical Food Made its debut in the market. The organization is driven to provide quality products with universal pertinence. Moreover, Dutch Medical Food products may be prescribed by healthcare professionals or can be obtained over the counter to complement daily nutritional intake and may be utilized in a clinical or at-home context. The business is also intended to manufacture its products in facilities that are Food and Drug Administration (FDA), European Commission (EC), and Therapeutic Goods Administration (TGA) certified.
The advancements in food science and technology have enabled the development of innovative medical food products with improved formulations, delivery formats, and palatability. These advancements have led to the development of medical foods that are more effective and convenient for patients to consume, thereby driving their demand in the market.
One of the restraining factors in the medical foods market is the lack of awareness among consumers and healthcare professionals about the benefits of medical foods. Additionally, regulatory challenges related to labeling, marketing, and distribution of medical foods also challenge the medical foods market revenue growth.
Medical Foods Market Ecosystem
The global medical foods market is analyzed from four perspectives: route of administration, product, application, and region.
Medical Foods Market by Route of Administration
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Based on the route of administration, the global medical foods market is segmented into oral and enteral.
In 2022, the oral segment dominated the global medical foods market in terms of revenue share. Medical foods in the oral route of administration have the advantage of being easily consumed and absorbed by the body, making them a convenient option for patients with specific nutritional needs. Additionally, oral medical foods can be formulated to provide targeted nutrients and ingredients that may not be found in a regular diet. Additionally, when taken orally, medical foods allow for a slower and more controlled drug distribution into the bloodstream.
Medical Foods Market by Product
Based on product, the global medical foods market is segmented into pills, liquids, powders, and others.
The powder segment accounted majority of the global medical foods market revenue share in 2022. Medical foods in powder are specially formulated to meet the unique nutritional needs of individuals with certain medical conditions. They can be mixed with water or other liquids to create a drink that provides the necessary nutrients for managing their condition. Moreover, they can be formulated to deliver precise amounts of nutrients and therapeutic ingredients tailored to specific medical needs.
Moreover, the liquid form is expected to account for the fastest-growing segment with the highest revenue CAGR in the global medical foods market during the forecast period. Therapeutic exercise equipment in physiotherapy offers many benefits, including improved mobility, increased strength and flexibility, reduced pain and inflammation, and enhanced overall physical function. Furthermore, this equipment is designed to provide personalized treatment plans that cater to each patient’s unique needs.
Medical Foods Market by Application
Based on application, the global medical foods market is segmented into chemotherapy-induced diarrhea, pathogen-related infections, chronic kidney diseases, diabetic neuropathy, Alzheimer’s disease, and others.
In 2022, the chemotherapy-induced diarrhea segment accounted for a prominent revenue share of the global medical foods market. Medical foods are specially formulated to provide targeted nutrition for specific medical conditions. In the case of chemotherapy-induced diarrhea, medical foods can help alleviate symptoms and improve the overall quality of life for patients undergoing cancer treatment. Moreover, medical foods are prescribed for chemotherapy-induced diarrhea because they contain specific nutrients that help to reduce inflammation and promote healing of the intestinal lining. They can also help manage symptoms such as abdominal pain, bloating, and diarrhea, improving the quality of life for cancer patients undergoing chemotherapy.
The diabetic neuropathy segment is expected to show lucrative revenue growth in the global medical foods market. Medical foods for diabetic neuropathy may contain ingredients such as alpha-lipoic acid, which has been shown to improve nerve function and reduce pain. Moreover, Medical foods are crucial in managing diabetic neuropathy as they provide targeted nutritional support to help manage the condition. They are specifically formulated to address the unique nutritional needs of patients with diabetic neuropathy and can improve nerve function and reduce symptoms.
Medical Foods Market by Region
Based on the region, the global medical foods market is segmented into North America, Europe, Asia Pacific, Latin America, & the Middle East & Africa.
North America accounted for the highest revenue share in 2022. The medical foods market in North America is expected to experience significant revenue growth due to the increasing prevalence of chronic diseases and the rising demand for personalized nutrition. The market revenue is also driven by the growing awareness among consumers about the benefits of medical foods in managing various health conditions.
The European medical foods market is expected to experience significant revenue growth due to the increasing prevalence of chronic diseases and the rising demand for personalized nutrition solutions. The growing aging population and increasing healthcare expenditure are also expected to drive market revenue growth in the forecast years. The demand for medical foods is also likely to increase due to the growing trend of self-management of chronic diseases and the rising awareness about the benefits of medical foods in managing these conditions. Furthermore, introducing innovative products with improved taste and convenience is also expected to boost market revenue growth.
The medical foods market in Asia Pacific is expected to grow significantly in terms of revenue share during the forecast period, driven by the rising prevalence of chronic diseases and the increasing demand for personalized nutrition. The market revenue will also likely benefit from technological advancements and the growing focus on preventive healthcare. Furthermore, Asia Pacific is surging in geriatric population, which is expected to boost the demand for medical foods. Additionally, the growing awareness regarding the benefits of medical foods among consumers is expected to propel market revenue growth.
Medical Foods Market Competitive Landscape
The medical foods market is highly competitive due to the presence of several established players and the emergence of new entrants. Companies are focusing on product innovation, strategic partnerships, and mergers & acquisitions to gain a competitive edge in the market. Moreover, the increasing prevalence of chronic diseases and the growing demand for personalized nutrition are expected to further drive the revenue growth of the medical foods market. As a result, companies are also investing in research and development activities to develop advanced medical food products that cater to specific health conditions.
The prominent companies operating in the global medical foods market with the largest revenue share are:
Medical Foods Market Recent Developments
The medical foods market revenue is expected to grow significantly during the forecast period due to the increasing prevalence of chronic diseases and the growing demand for personalized nutrition. This revenue growth is also fueled by advancements in technology and research, which enable the development of innovative medical food products.
The global medical foods market was valued at US$ 19.86 billion in 2022.
Some major strategies key market players adopt in the medical foods market include mergers, acquisitions, and collaborations.
The chemotherapy-induced diarrhea segment accounts for the major revenue share in the global medical foods market.
The global medical foods market is expected to register a revenue CAGR of 5.17% during the forecast period.
*Insights on financial performance are subject to the availability of information in the public domain