The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s medical foods market report forecasts the medical foods market size to grow to $27.62 Billion by 2027, with a CAGR (compound annual growth rate) of 7%.

Learn More On The Medical Foods Market Report 2023 – https://www.thebusinessresearchcompany.com/report/medical-foods-global-market-report

Medical Foods Market Size Forecast
The global medical foods market is expected to grow from $19.65 billion in 2022 to $21.04 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The medical foods market size is expected to grow to $27.62 billion in 2027 at a CAGR of 7.0%.

North America held the largest medical foods market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Medical Foods Market Driver ­– Increase In The Geriatric Population
For instance, according to the US agency for international public health WHO, the global population aged 60 years and older will increase to 1.4 billion by 2030 from 1 billion in 2020. By 2050, the global population of adults aged 60 and up will have doubled (2.1 billion). Between 2020 and 2050, the number of people aged 80 and more is predicted to triple, reaching 426 million. Therefore, the increase in the geriatric population is expected to propel the growth of the medical foods market.

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Key Medical Foods Market Trend – Constant Innovations In Product Development
The companies operating in the medical foods sector are developing innovative products with greater efficacy to cater the demand from customers with specific niche diseases such as metabolic disorders, ADHD, and others. For instance, In February 2020, Galen US Inc., an Ireland-based pharmaceutical company launched PKU EASY Microtabs, a palatable alternative to protein substitutes, and it helps patients above 8 years to manage incurable condition “inherited metabolic disorder, phenylketonuria”.

Medical Foods Market Segment
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

Medical Foods Market Major Players and Strategies
Major players in the medical foods market are Nestle, Mead Johnson & Company LLC, Fresenius Kabi AG, Danone, Primus Pharmaceuticals Inc., Abbott Laboratories, Metagenics Inc., Targeted Medical Pharma Inc., Medtrition Inc., Cerecin Inc., Entera Health Inc., Vaya Pharma Inc., Physician Therapeutics LLC, Alfasigma spA, and MicroBiome Therapeutics LLC.

In September 2020, Nestle Health Science, a Swiss-based nutritional science company acquired IM HealthScience (IMH), along with its sister company, Physician’s Seal (PS) for an undisclosed amount. With this acquisition, Nestle Health Science aims to strengthen its personalized medicine portfolio and the acquisition fits its mission of empowering healthier lives through nutrition. IM HealthScience (IMH) is a US-based firm that develops products to address overall health and wellness including medical foods.

The Medical Foods Global Market Report 2023 covers regional data on medical foods market size, medical foods market trends and drivers, opportunities, strategies, and medical foods market competitor analysis. The countries covered in the medical foods market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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.

View More Reports Related To The Medical Foods Market –
Medical Radiation Detection, Monitoring And Safety Global Market Report 2023
Medical Refrigerators Global Market Report 2023
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