New York, According to a new market research report published by Global Insight Services “Medical Foods Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Medical foods are foods that are specially formulated and intended for the dietary management of a disease or condition. They are designed to be used under medical supervision and are not intended for use as a sole source of nutrition. Medical foods must be safe and must meet certain nutritional requirements. They must also be labeled as such and must not be represented as conventional foods.
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Key Trends
The increase in the number of malnourished people and the rise in the prevalence of chronic diseases are the major factors driving the growth of this market. The increase in the number of malnourished people is due to the lack of access to nutritious food and the lack of knowledge about the importance of nutrition. According to the World Health Organization (WHO), approximately 2 billion people worldwide are affected by malnutrition. Malnutrition is a major problem in developing countries and is one of the leading causes of death in children under the age of five years.
The prevalence of chronic diseases is increasing due to the sedentary lifestyle and the changing food habits of people. The most common chronic diseases include cardiovascular diseases, diabetes, and cancer.
Key Drivers
There are a few key drivers of the medical foods market.
Firstly, the rising prevalence of chronic diseases and conditions is a key driver. This is because medical foods can help to manage and treat these conditions.
Secondly, the aging population is another key driver. This is because as people age, they are more likely to develop chronic diseases and conditions, and thus, need medical foods.
Thirdly, the increasing awareness of the benefits of medical foods is another key driver. This is because as more people become aware of the potential benefits of medical foods, they are more likely to use them.
Finally, the increasing availability of medical foods is also a key driver. This is because as more medical foods become available, more people have access to them and can use them to improve their health.
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Market Segments
By Product
- Pills
- Powder
- Liquid
- Others
By Application
- Parkinson’s Disease
- Epilepsy
- Severe Protein Allergy
- Others
Key Players
The medical foods market report includes players such as Nestle, Danone, Abbott, Fresenius Kabi, Medtrition, Inc. , Cerecin Inc. Metagenics, Inc, Targeted Medical Pharma, Inc., Primus Pharmaceuticals, Inc., Alfasigma USA, Inc.
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Reasons to buy Medical Foods Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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