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.
Medical Foods (FMs) 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
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Medical food is formulated to be consumed for the specific dietary management of a disease that has distinctive nutritional needs that cannot be met by normal diet alone, based on recognized scientific principles, are established by medical evaluation and administered under the supervision of a physician for therapeutic or management use of a disease. They are used to treat various conditions including Alzheimer’s disease, osteoarthritis, diabetic neuropathy, and depression. Despite their similarity to prescription drugs, they aren’t classified as drugs and aren’t subject to drug approval requirements and are exempt from federal nutrition labeling requirements and those for health claims. Special infant formulas, formulations for metabolic disorders, oral rehydration products or products for chronic diarrhea, and special nutritional formulas for patients with diabetes, AIDS, kidney disease, or inborn errors in metabolism are some examples. They can partially, or wholly, replace a normal diet to provide patients with the essential nutrients they need to survive, recover and thrive.
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.
COVID-19 Impacts On Medical Foods Market
A significant increase in clinical food adoption has been noticed during the COVID-19 pandemic, attributed to the increasing preference for dietetic care and nutritional support. The surge in the utilization of medical foods during the pandemic will balance in the coming years, however, the penetration and adoption will increase owing to its significant role in the recovery and rehabilitation process of the patients. Owing to the rising burden on critical care services due to the pandemic, the demand for nutritional support and dietetic care is rising, thereby propelling the market growth, penetration, and adoption of medical foods. Hence, the COVID-19 pandemic is projected to fuel the growth of the market during the forecast period. Key players such as Abbott, Fresenius Kabi, and Nestle are planning and taking up various strategic initiatives for increasing their foothold in the market and growing their penetration.
Medical Foods Market Insights By Region
North America held the largest revenue share. The presence of international companies such as Abbott Laboratories and Mead Johnson & Company and the high revenue generation of these companies are driving the market. The Asia Pacific region is anticipated to be the fastest-growing regional market over the forecast period owing to the increasing rate of cancer and diabetic patients, along with several government initiatives in the healthcare segment. Larger population in the region and growing awareness among patients with chronic diseases to consume medical food for better health management are anticipated to drive the market in the Asia Pacific.
Competitive Analysis By Major Brands
Increasing demand for medical foods by patients and healthcare professionals and the growing market consolidation activities by the market players to hold a strong position is resulting in strong competition among the competitors. Several strategies have been adopted by the key players such as high investments in new product development and geographic expansion to increase their revenue share. In addition, the top market players are looking for strategic acquisitions, mergers, and partnerships to expand their product reach and increase revenue share in the global market. Some prominent players in the global medical foods market include:
- Nestle
- Danone
- Abbott
- Mead Johnson & Company, LLC
- Fresenius Kabi
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Medical Foods Market Segmentation
Grand View Research has segmented the global medical foods market on the basis of route of administration, product, application, sales channel, and region:
- Medical Foods Route of Administration Outlook (Revenue, USD Million, 2016 – 2030)
- Medical Foods Product Outlook (Revenue, USD Million, 2016 – 2030)
- Medical Foods Application Outlook (Revenue, USD Million, 2016 – 2030)
- Medical Foods Sales Channel Outlook (Revenue, USD Million, 2016 – 2030)
- Medical Foods Regional Outlook (Revenue, USD Million, 2016 – 2030)
- List of Key Players of Medical Foods Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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