Medical Foods Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of the medical foods market was valued at USD 24.1 billion in 2022, and a CAGR of 5.2% is expected during the forecast period. Increasing growth in the number of patients with Alzheimer, osteoarthritis, and other nervous system disorder diseases. Rising healthcare expenditure and increasing emphasis on early and rapid diagnosis of the diseases are driving growth in the market.

The increasing prevalence of chronic diseases is the key reason behind the significant growth in the market. The rise in consuming disease-specific formulae is driving growth in the market. Increasing demand from key players like Nestle is contributing significantly to the growth of the market.

Growth Drivers

Increasing growth in cardiovascular cases and rise in cancer patients all over the world is driving growth in the market. Demand for medical foods is increasing with the increasing number of patients all over the world. Growing geriatric population is leading to higher demand for medical foods that address age-related health issues and nutritional needs. Ongoing research and development are creating more effective and specialized medical foods, and their role in managing health conditions is boosting market growth.

Better access to healthcare costs continues to rise in demand for medical foods. Greater focus on preventive care and managing chronic diseases through medical foods to reduce overall health expenditure. Supportive regulatory frameworks and guidelines for medical foods help ensure their safety and efficacy, promoting market growth. Increasing demand for medical food products in different forms is driving growth in the market.

Segmentation

Products

·         Powder

·         Pills

·         Liquid

·         Others

Route of Administration

·         Oral

·         Enteral

Food Sales Channel

·         Online Sales

·         Retail Sales

·         Institutional Sales

Medical Foods Application

·         Chronic Kidney Disease

·         Chemotherapy induced Diarrhea

·         Depression

·         Alzheimer’s Disease

·         Nutritional Deficiency

·         Wound Healing

·         Chronic Diarrhea

·         Parkinson’s Disease

·         Other Cancer Related Treatments

·         Pain Management

·         Service Protein Allergy

·         Cancer

·         Cachexia

·         Severe Protein Allergy

·         Dysphagia

·         Others

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

Medical Foods Market Food Sales Channel Segmentation

On the basis of the sales channel, the medical foods market is segmented into online sales, retail sales, and institutional sales. Retail sales are the leading segmentation and are expected to dominate the market during the forecast period. Pharmaceuticals, health food stores, and supermarkets provide direct access to the medical foods for the consumer, allowing them to purchase products efficiently. Medical foods are widely distributed through retail channels, making them readily available to a brand consumer base. With more consumers becoming aware of medical foods and their benefits, retail sales are boosted by increased consumer demand.

Online sales are another leading segment in the market due to increasing growth in the e-commerce sector. Consumers do easily purchase medical foods comfortably without needing to visit a medical store. Increasing growth in the range of products that are not available locally is driving growth in the market. Online shopping allows consumers to compare prices and find better deals, often leading to increased sales. Online shopping had become the most preferred option after the pandemic, and it facilitates easy reordering, which is convenient for users.

Medical Foods Market Product Type Segmentation

On the basis of the product type, the global medical foods market is segmented into powder, pills, liquids, and others. Powders are often the leading segment due to their flexibility and versatility. It is easily mixed with liquids or foods, making them versatile and convenient for patients who have specific dietary needs and restrictions. Powder allows for more precise dosage adjustments compared to pre-measured pills or liquids. Powders are often cost-effective to produce and package than pills or liquids.

Powders are often cost-effective to produce and package than pills or liquids. Powdered forms generally have a longer shelf life, which is advantageous for both consumers and manufacturers. Pills and liquids are also among one of the leading segments. Pills are a convenient and portable option for users, making them easy to take and carry without the need for preparation. Pills provide precise and consistent dosage, which is important for managing specific health conditions.

Many consumers prefer pills due to the ease of use and the familiarity compared to powders and liquids. Pills typically have a longer shelf life than liquids, reducing the risk of spoilage and making them more durable for storage and distribution. Unlike powders or liquids, pills reduce the threat of wastage of products as well. 

Regional Outlook

On the basis of the regions, the medical foods market is segmented into North America, Latin America, the Middle East and Africa, Europe, and Asia Pacific. North America is the leading segment and is expected to dominate the market during the forecast period due to the early diagnosis of chronic diseases. The region is blessed with great healthcare infrastructure and is witnessing significant growth in the market. The presence of key players in the market is driving growth in the market significantly.

North America has a high incidence of chronic diseases like diabetes, obesity, and cardiovascular diseases. The region benefits from well-developed healthcare systems, which facilitate the availability and use of specialized medical foods. Higher disposable incomes in North America enable consumers to invest in specialized medical foods and health management solutions.

Asia Pacific is another leading segment due to rapidly increasing populations in emerging economies like India and China, and increasing consumption of medical food is driving growth in the market. The region has established regulatory frameworks and guidelines that support the safety and efficacy of medical foods, which is a growth driver in the market. Higher disposable income levels in North America enable consumers to invest in specialized medical fields and health management solutions.

Europe countries like Germany, Italy, France, Russia, Spain, and the UK have well-established healthcare infrastructure. An increasing number of aging people is driving growth in the market. Rising healthcare expenditure has driven the consumption of medical foods to a new height. The presence of key players in the region is driving growth in the market.

Key Players

·         Nestle

·         Abbott

·         Mead Johnson and Co. LLC

·         Fresenius Kabi AG

·         Primus Pharmaceuticals Inc.

·         Targeted Medical Pharma Inc.

·         Danone

·         Primus Pharmaceuticals

·         Cerecin inc.

·         Other Players