Medical Foods Global Market to Reach $24.11 Billion by 2026 at a CAGR of 5.61% - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Medical Foods Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global medical foods market is expected to grow from $18.36 billion in 2021 to $19.38 billion in 2022 at a compound annual growth rate (CAGR) of 5.59%. The medical foods market is expected to grow to $24.11 billion in 2026 at a compound annual growth rate (CAGR) of 5.61%.
The main types of medical food include pill, powder, and others. The medical food pills refer to a small pellet or a tablet often coated and consumed by swallowing whole or by chewing. Medical food pills are specially formulated to meet nutritional requirements of patients with various medical conditions such as digression, ADHD, and others. They are used in treatment of Alzheimer's Disease, Diabetic Neuropathy, Nutritional Deficiency, ADHD, and others. They are sold through online, retail, and institutional channels.
North America was the largest region in the medical foods market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical foods market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increase in the geriatric population is significantly contributing to the growth of the medical foods market. At the molecular and cellular level, aging is caused by the accumulation of a range of biomolecular damage throughout time. This results in a gradual loss of functional capacity, as well as an increased risk of disease and eventually, death. These changes are not linear or continuous, and they have been only distantly related to a person's chronological age.
As people get old, their dependency on certain nutritional foods increases especially medical foods to manage their health from chronic and age-related diseases. For instance, according to the US agency for international public health WHO, the global population aged 60 years and older will increase to 1.4 billion by 2030 from 1 billion in 2020. By 2050, the global population of adults aged 60 and up will have doubled (2.1 billion). Between 2020 and 2050, the number of people aged 80 and more is predicted to triple, reaching 426 million. Therefore, the increase in the geriatric population is expected to propel the growth of the medical foods market.
Constant innovations in product development is a key trend gaining popularity in the medical foods market. The companies operating in the medical foods sector are developing innovative products with greater efficacy to cater the demand from customers with specific niche diseases such as metabolic disorders, ADHD, and others. For instance, In February 2020, Galen US Inc., an Ireland-based pharmaceutical company launched PKU EASY Microtabs, a palatable alternative to protein substitutes, and it helps patients above 8 years to manage incurable condition "inherited metabolic disorder, phenylketonuria".
1) By Type: Pills; Powder; Others
2) By Application: Alzheimers Disease; Diabetic Neuropathy; Nutritional Deficiency; ADHD; Others
3) By Sales Channel : Retail Sales; Online Sales; Institutional Sales
Key Topics Covered:
1. Executive Summary
2. Medical Foods Market Characteristics
3. Medical Foods Market Trends And Strategies
4. Impact Of COVID-19 On Medical Foods
5. Medical Foods Market Size And Growth
6. Medical Foods Market Segmentation
7. Medical Foods Market Regional And Country Analysis
8. Asia-Pacific Medical Foods Market
9. China Medical Foods Market
10. India Medical Foods Market
11. Japan Medical Foods Market
12. Australia Medical Foods Market
13. Indonesia Medical Foods Market
14. South Korea Medical Foods Market
15. Western Europe Medical Foods Market
16. UK Medical Foods Market
17. Germany Medical Foods Market
18. France Medical Foods Market
19. Eastern Europe Medical Foods Market
20. Russia Medical Foods Market
21. North America Medical Foods Market
22. USA Medical Foods Market
23. South America Medical Foods Market
24. Brazil Medical Foods Market
25. Middle East Medical Foods Market
26. Africa Medical Foods Market
27. Medical Foods Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Medical Foods Market
29. Medical Foods Market Future Outlook and Potential Analysis
- Mead Johnson & Company LLC
- Fresenius Kabi AG
- Primus Pharmaceuticals Inc.
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