Medical Foods Market To Witness A Significant Growth Of USD 33.5 Billion By 2030

 San Francisco, 21 Apr 2022: The Report Medical Foods Market Size, Share & Trends Analysis Report By Route of Administration (Oral, Enteral), By Product (Pills, Powder, Liquid), By Application, By Sales Channel, And Segment Forecasts, 2022 - 2030

The global medical foods market size is expected to reach USD 33.5 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.2% from 2022 to 2030. Increasing incidences of chronic diseases, the rising geriatric population, and the growing burden of malnutrition are the major factors responsible for the substantial growth of the market over the years. For instance, according to a WHO report, about 149 million children under 5 were stunted and 38.9 million were obese or overweight due to undernutrition in 2020. The emerging focus of the policymakers to manage chronic disorders and nutritional deficiency is also anticipated to drive the adoption of medical foods over the years. 

The oral route of the administration segment dominated the market with a revenue share of over 65.0% in 2021. The major factors contributing to the segment growth include a high preference for oral medical foods owing to the ease of consumption and high commercial viability of products administered orally. In addition, these foods are available in a variety of forms such as pills, powder, puddings, and pre-thickened products, thereby fueling the growth of the segment. 

In 2021, the powder product segment accounted for the largest revenue share of over 35.0%. Factors contributing to the growth are rising application areas of powdered medical foods, ease of administration, and higher commercial viability. The liquid segment is anticipated to grow at the fastest rate during the forecast period owing to the ease of consumption of liquid-based foods for special medical purposes by the pediatric and geriatric population. 

The chemotherapy-induced diarrhea segment emerged as the largest application segment in 2021. Diarrhea caused by chemotherapy treatment is one of the common problems among cancer patients and the rising prevalence of cancer is one of the major reasons for increasing the revenue share. For instance, according to the National Cancer Institute statistics, about half of the patients develop diarrhea when treated with chemotherapy agents and the rate can reach 80% with respect to certain chemotherapy agents. 

The institutional sales channel segment dominated the market in 2021. Higher penetration and adoption of oral and enteral medical foods in the healthcare institutions such as clinics, hospitals, and care centers and the rising consumption of these products are some of the major factors contributing to the large revenue share. In addition, rising demand for such products in inpatient facilities and increasing adoption for such products are boosting the market growth. 

North America dominated the market with a revenue share of over 30.0% in 2021. The presence of major players and high revenue generated by them in the North American region are the key factors contributing to the regional market growth. In addition, strategic developments, the growing prevalence of chronic conditions, and the increasing adoption of medical foods by patients and healthcare professionals are the other factors supporting the growth. 

Furthermore, the ongoing outbreak of the COVID-19 pandemic has led to an increase in the consumption of medical foods. Growing preference by healthcare professionals to consume these products in patients suffering from comorbidities and chronic conditions is beneficial in supporting the market growth. In addition, increasing complications in the patients suffering from chronic disorders due to COVID-19 disease are fueling their adoption and consumption, thereby supporting the growth. 

Access Research Report of Medical Foods Market @ https://www.grandviewresearch.com/industry-analysis/medical-foods-market

Medical Foods Market Report Highlights 

• The oral route of the administration segment dominated the market in 2021. The major factors contributing to the large share of the segment include a high preference for oral medical foods owing to the ease of consumption and high commercial viability of products administered orally
• The powder product segment accounted for the largest revenue share in 2021 owing to the factors such as rising application areas of powdered medical foods, ease of administration, and higher commercial viability
• Chemotherapy-induced diarrhea emerged as the leading application segment in 2021. The diabetic neuropathy segment is expected to register the fastest growth rate over the forecast period
• By sales channel, the institutional sales segment accounted for the largest revenue share in 2021 owing to the higher penetration and adoption of these products in the healthcare institutions such as clinics, hospitals, and care centers
• North America accounted for the largest revenue share in 2021 due to the increasing prevalence of chronic diseases and the presence of key players

List of Key Players of Medical Foods Market

• Nestle
• Danone
• Abbott
• Mead Johnson & Company, LLC
• Fresenius Kabi
• Targeted Medical Pharma, Inc.
• Primus Pharmaceuticals, Inc.
• Medtrition, Inc.

Access Press Release of Medical Foods Market @ https://www.grandviewresearch.com/press-release/global-medical-foods-market