Medical Foods Market Size, Share & Trends Analysis Report By Route of Administration, By Product, By Application, By Sales Channel And Segment Forecasts, 2020 - 2027

NEW YORK, March 9, 2020 /PRNewswire/ --

Medical Foods Market Size, Share & Trends Analysis Report By Route of Administration (Oral, Enteral), By Product (Pills, Powder), By Application, By Sales Channel (Online, Institutional, Retail), And Segment Forecasts, 2020 - 2027

Read the full report: https://www.reportlinker.com/p05763786/?utm_source=PRN

The global medical foods market size is expected to reach USD 30.4 billion by 2027., registering a CAGR of 6.3% over the forecast period. This market is driven by rising geriatric population, increasing prevalence of chronic diseases, and growing focus of policymakers on the management of malnutrition. Dietary management of chronic diseases and rare disorders is the emerging focus area for manufacturers of medical foods, which is also positively impacting the market growth. Patients with chronic diseases develop nutritional deficiencies owing to adverse effects of the disease or the drugs that are used for treatment. Medical foods address these nutritional deficiencies, further driving their consumption.

Moreover, rising prevalence of chronic diseases requiring nutritional management of patients is a key factor which is expected to drive the market growth. According to WHO Noncommunicable Diseases Progress Monitor (2017), chronic diseases such as cancer, diabetes, and cardiovascular diseases are among the leading causes of death globally, accounting for nearly 70.0% of the deaths worldwide. According to Milken Institute, the economic burden of chronic diseases in U.S. was estimated to be USD 1.1 trillion in 2016. A constant rise has been observed in the prevalence of chronic diseases such as Alzheimer's disease, attention deficit hyperactivity disorder (ADHD), osteoporosis, osteoarthritis, and central nervous system disorders, which require clinical dietary management. Medical foods, also known as foods for special medical purposes, are intended for the dietary management of patients with impaired or limited capacity to digest, ingest, absorb, and metabolize a normal diet and for patients with special nutrient requirements.

Diabetic neuropathy emerged as the largest application segment in 2019 owing to the increase in prevalence of diabetes and rise in the number of patients that are at risk of developing some level of neuropathy.Various initiatives are being undertaken for dietary management of diabetes and are among the key market drivers.

However, the chronic kidney diseases segment is expected to witness the highest growth rate over the forecast period.

Further key findings from the report suggest:
• Orally administered medical foods held the largest share in 2019 due to ease in administration along with high commercial availability
• Diabetic neuropathy emerged as the leading application segment in 2019; however, chronic kidney disorder is expected to register the highest growth rate over the forecast period owing to the rising prevalence of chronic diseases such as cardiovascular diseases and cancer
• Asia Pacific dominated the global market in 2019 due to the presence of several target diseases cases such as obesity and malnutrition in the region
• Key players operating in the medical foods market include Danone S.A., Abbott Laboratories, Nestle S.A., Mead Johnsons & Company, LLC, and Fresenius Kabi.

Read the full report: https://www.reportlinker.com/p05763786/?utm_source=PRN

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