Medical foods are principally formulated food products intended to be used under the supervision of medical and other appropriate health professionals. They work by supplying nutrition, not available in a normal diet, for the management of certain diseases such as Alzheimer’s, diabetic neuropathy, nutritional deficiency, depression, and others. They can be administered through oral or enteral route depending on the absorption capacity of the patient. Moreover, medical foods are made with Generally Recognized As Safe (GRAS) ingredients which include vitamins and minerals, proteins, omega-3, isoflavones, phytosterols, and others.
Medical foods Market: Key Players
The research study includes profiles of leading companies operating in the global medical foods market. Key players profiled in the report include: Danone, Primus Pharmaceuticals, Inc., Nestle, Abbott, Meiji Holdings and Co., Ltd., Targeted Medical, Pharma, Inc., Mead Johnson & Company, LLC., Accera, Inc., Alfasigma USA, Inc. & Fresenius Kabi.
Drivers for the Global Medical foods Market:
The rising elderly population is a major driver of the global medical foods market. They are more likely to advance nutritional disorders as well as to fall prey to other diseases that affect their capacity to absorb nutrients from their diet. Nutrition deficiency disorders are also more common among the geriatric demographic than in other patient classes, leading to the elderly population becoming a key consumer sector in the global medical foods market. The increasing prevalence of diabetes across the world is another key driver of the global medical foods market.
Opportunities for the Global Medical foods Market:
Growing awareness among individuals about medical foods in developing economies, high prevalence rate of chronic diseases such as diabetes, Alzheimer disease, and increasing unhealthy lifestyle among individuals are key factors driving growth of the global medical foods market. Additionally, high expenditure in the healthcare sector by governments in developing economies, and continuous innovation in medical foods are other factors fueling growth of the global medical foods market over the forecast period.
Restrains for the Global Medical foods Market:
Lack of awareness related to proper use of medical foods is a key factor restraining growth of the global medical foods market. Additionally, comparatively high costs of medical foods as compared to traditional food products, and low availability of medical foods in developing economies are other factors expected to hamper growth of the global medical foods market.
Region Wise, Global Medical foods Market Analysis:
The report covers the region wise analysis, global medical food container market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all, Asia-Pacific leads the global medical food container market share, followed by North America & Europe. While the Asia-Pacific leads the global medical food container market due to the Increasing target disease cases, such as obesity, malnutrition, CVDs, and cancer in the region is the key factor driving the demand for medical foods. Rising geriatric and pediatric population base is also contributing to the market growth. Moreover, increasing rates of diabetes and cancer patients along with several initiatives taken by the government in the healthcare segment drives the market growth in the regional market.
Covid-19: Impact and Recovery Analysis of Global Medical foods Market:
The world is greatly affected by the uncertain raise of the covid-19 Pandemic among the population. The Corona virus outbreak has disrupted & disturbed every sector of business as well as human activity. In most parts of the world, there has been a complete restriction set by governments regarding various activities and in turn this is greatly affecting the financial stability of industries like: medical foods market globally. Most of the industries and businesses like: medical foods market are shifting to manufacturing equipment that can support the covid-19 spread from increasing and spreading. The medical foods market has been impacted due to government restrictions on public activity, halting business activities, shutting down of manufacturing companies and many other impacts that have been caused due to lockdown in various parts of the world. The market is focusing on drug development trials to control the spread of covid-19 which can help the market recover.
Global Medical foods Market: Product analysis
Global Medical foods Market: Application analysis
- Diabetic neuropathy
- Alzheimer’s disease
- Nutritional deficiency
Global Medical foods Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East