Global Medical Foods Market Growth Rate 2024, Forecast To 2033
22 Feb, 2024
The medical foods market has seen strong growth, escalating from $21.35 billion in 2023 to $23.07 billion in 2024, with an 8.0% CAGR. Increased chronic disease prevalence and regulatory support fueled historic growth. The forecast indicates growth to $31.23 billion by 2028, driven by preventive healthcare and personalized nutrition demand. Trends include condition-specific formulations and digital technology integration.
Global Medical Foods Market Key Driver
The medical foods market is growing due to the increase in the geriatric population. With one in six people expected to be 60 or older by 2030 and 2.1 billion people aged 60 or older by 2050, the geriatric population's demand for medical foods to manage health is contributing to the market's growth.
Get A Free Sample Of The Global Medical Foods Market ReportGlobal Medical Foods Market Segments
The medical foods market covered in this report is segmented –
1)By Type: Pills, Powder, Other Types
2)By Application: Alzheimers Disease, Diabetic Neuropathy, Nutritional Deficiency, ADHD, Other Applications
3)By Sales Channel : Retail Sales, Online Sales, Institutional Sales
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the medical foods market in 2023. 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, Africa
Major Medical Foods Industry Players
Nestlé SA; Danone SA; Fresenius Kabi AG; Mead Johnson & Company LLC; Primus Pharmaceuticals Inc.; Abbott Nutrition Inc.; Accera Inc.; Ajinomoto Cambrooke Inc.; Applied Food Sciences Inc.; Axcan Pharma Inc.; Cambrooke Therapeutics Inc.; Danone Nutricia North America Inc.; Health and Happiness (H&H) Group Limited; RFI Ingredients LLC; Scientific Hospital Supplies Ltd; Solace Nutrition LLC; Synthetic Biologics Inc.; Targeted Medical Pharma Inc.; VAYA Pharma Inc.; Baxter Healthcare Corporation; Braun Melsungen AG; DuPont Nutrition & Biosciences; Enteral Nutrition Holdings Inc.; Fresenius Medical Care AG & Co. KGaA; Hill's Pet Nutrition Inc.; Hollister Incorporated; Intensive care unit Medical Inc.; Medtronic plc; Nestlé Health Science S. A.; Nutricia North America Inc.; Otsuka Pharmaceutical Co. Ltd.; Pfizer Nutrition Inc.; Koninklijke DSM NV; Stryker Corporation; Total Parenteral Nutrition Solutions Inc.
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Medical Foods Market Overview
Medical foods refer to a food that has been prepared to be ingested or given orally under the direction of a doctor and designed for the particular dietary. It is designed to help control an existing disease or condition through food. Medical foods are exempt from the labelling requirements for nutrition content claims and health claims.
Medical Foods Global Market Report 2023 provides data on the global medical foods market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The medical foods market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.