Medical Foods Market to be Worth $33.5 Billion by 2030 - Grand View Research, Inc.

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Mar 01, 2023, 04:56 ET

SAN FRANCISCO, March 1, 2023 /PRNewswire/ -- 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.

Key Industry Insights & Findings from the report:

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.

Read 150 page market research report, "Medical Foods Market Size, Share & Trends Analysis Report By Route of Administration (Oral, Enteral), By Product (Pills, Powder, Liquid), By Application, By Sales Channel, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Medical Foods Market Growth & Trends

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.

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 Market - Route of Administration Outlook (Revenue, USD Million, 2016 - 2030)

Oral
Enteral

Medical Foods Market - Product Outlook (Revenue, USD Million, 2016 - 2030)

Pills
Powder
Liquid
Others

Medical Foods Market - Application Outlook (Revenue, USD Million, 2016 - 2030)

Chronic Kidney Disease
Minimal Hepatic Encephalopathy
Chemotherapy-induced Diarrhea
Pathogen Related Infections
Diabetic Neuropathy
ADHD
Depression
Alzheimer's Disease
Nutritional Deficiency
Orphan Diseases

Phenylketonuria
Eosinophilic Esophagitis
FPIES
MSUD
Homocystinuria
Tyrosinemia
Others

Wound Healing
Chronic Diarrhea
Constipation Relief
Protein Booster
Dysphagia
Pain Management
Parkinson's Disease
Epilepsy
Other Cancer Related Treatments
Severe Protein Allergy
Other

Medical Foods Market - Sales Channel Outlook (Revenue, USD Million, 2016 - 2030)

Online Sales
Institutional Sales
Retail Sales

Medical Foods Market - Regional Outlook (Revenue, USD Million, 2016 - 2030)

North America

U.S.
Canada

Europe

U.K.
Germany
France
Spain
Italy
Russia

Asia Pacific

Japan
China
India
Australia
New Zealand
Singapore
South Korea

Latin America

Brazil
Mexico
Argentina

Middle East & Africa

South Africa
Saudi Arabia
UAE

List of Key Players of Medical Foods Market

Nestle
Danone
Abbott
Mead Johnson & Company, LLC
Fresenius Kabi
Targeted Medical Pharma, Inc.
Primus Pharmaceuticals, Inc.
Medtrition, Inc.

Check out more related studies published by Grand View Research:

Medical Foods For Orphan Diseases Market - The global medical foods for orphan diseases market size is expected to reach USD 1.9 billion by 2030. It is expected to expand at a CAGR of 5.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. The major factors contributing to the industry's growth are the growing prevalence of orphan diseases and increasing awareness about such rare conditions. Moreover, rising government initiatives for early screening and increasing initiatives by key players to develop products that cater to such niche segments also spell a promising horizon of growth.
Food Allergy Diagnostics & Therapeutics Market - The global food allergy diagnostics & therapeutics market size is expected to reach USD 4.71 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 7.4%. The market is expected to grow in the coming years owing to increasing incidence of food allergies coupled with rising demand for products for management of these conditions.
Smart Pills Market - The global smart pills market is expected to reach USD 3.0 billion by 2025 at a CAGR of 15.5% during the forecast period, according to a new report by Grand View Research, Inc. An increase in prevalence of diseases such as colorectal cancer and gastrointestinal disorders, expansion in the geographical reach of major players, rising cancer screening awareness programs, and expeditious FDA approvals are prime factors that are expected to drive the market growth over the forecast period.

Browse through Grand View Research's Pharmaceuticals Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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