Visiongain Publishes Medical Foods Market Report 2020-2030
22 July 2020
Visiongain has launched a new report Medical Foods Market Report 2020-2030: Forecasts by Product (Powder, Pills, And Others), by Application (Chronic Kidney Disease, Minimal Hepatic Encephalopathy, Chemotherapy-Induced Diarrhoea, Pathogen-Related Infections, Diabetic Neuropathy, ADHD, Depression, Alzheimer's Disease, Nutritional Deficiency, Orphan Diseases(Phenylketonuria, Eosinophilic Esophagitis, FPIES, and Others) and Others), by Route Of Administration (Oral, and Enteral), by Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Drug Store, Online, and Supermarket) and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa). Including Forecasts by Major Developed Countries and Developing Countries, Plus Profiles of Leading Companies.
Medical food contain highly purified, food-based therapeutic ingredients intended for the explicit dietary management of a disease or condition for which distinctive nutritional requirements, based on recognized scientific principles, are established by medical evaluation. It is formulated to be consumed or administered under the supervision of a physician. According to The Food and Drug Administration (FDA), medical foods are not those which is simply recommended by a physician as part of an overall diet to cope with the symptoms or moderate the risk of a disease or condition, but, instead, are a specifically formulated food product for patients who require it as part of a disease or condition’s dietary management.
According to World Health Organization (WHO), Non-communicable Diseases (NCD) such as cancer, diabetes, respiratory diseases and cardiovascular diseases are among the leading causes of death globally, accounting for approximately 70.0% of the deaths worldwide. Patients with chronic diseases develop nutritional paucities due to adverse effects of the disease or the drugs that are used for treatment. Over the years, a persistent rise has been observed in the occurrence of chronic diseases such as Alzheimer's disease, osteoporosis, osteoarthritis, central nervous system disorders, and attention deficit hyperactivity disorder (ADHD), which require clinical dietary management. Thus, rising prevalence of chronic diseases demands medical foods which addresses these nutritional deficiencies of patients thereby driving the market growth. Diabetes neuropathy application held a dominant share in 2019, and the trend is expected to continue during forecast period.
The Visiongain report analyst commented “rising geriatric population and increasing public health consciousness are likely to drive the demand for personalized medicine which has led to increase in focus of policymakers on the management of malnutrition. Dietary management of chronic diseases and rare disorders has become the emerging focus area for manufacturers of medical foods, which is expected to positively impact the market growth”.
High cost of medical foods and several regulation imposed by government may hamper the market growth. Whereas, the high birth rate and a higher number of premature births in developing countries of Asia-Pacific region may act as an opportunity for medical foods manufacturers during the forecast period thereby driving the market growth.
The report covers a detailed competitive outlook that includes market share and company profiles of key players operating in the global market. Key players profiled in the report include Abbott Laboratories, Alfasigma USA, Inc., Cerecin Inc., Danone S.A., Targeted Medical Pharma Inc., Primus Pharmaceuticals, Inc., Fresenius Kabi AG, Metagenetics, Inc., Reckitt Benckiser Group plc., and Nestle S.A.
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