The rising frequency of diseases such as malnutrition and diabetes is also a key driver of market expansion. According to the International Diabetes Federation (IDF), about 463 million individuals had diabetes in 2019, with this figure expected to rise to 700 million by 2045. Medical foods can help ease the symptoms of diabetic neuropathy, which is one of the most major symptoms in diabetic patients. Furthermore, as shown in a WHO report from 2020, 462 million people across the world are underweight, and medicinal meals, along with enteral feeding, should be considered the first line of treatment for malnourished patients.
Furthermore, firms’ strategic activities in the field of clinical nutrition have a significant influence on market growth. Mergers, acquisitions, and product launches, among other things, serve to raise knowledge of medical foods and clinical nutrition. Companies are actively involved in executing a variety of social projects, particularly in developing nations, in order to strengthen their market dominance there. In 2018, Fresenius Kabi AG, for example, announced a gift of Euro 100,000 to promote clinical nutrition research in Latin America for malnourished individuals.
The diabetic neuropathy segment is grabbing more attention in the market with a revenue share of 23.2% in 2020. The factors responsible for the growth of the market are the rise in diabetes prevalence and a growing number of patients at risk of acquiring some level of neuropathy. According to Healthline, around 60 to 70 % of diabetics experience some kind of neuropathy. Furthermore, the risk of neuropathy rises with age, changes in food, and an addictive personality, leading to a greater emphasis on nutritional management, which drives market expansion.
Furthermore, throughout the projection period, the chronic kidney disease (CKD) sector is anticipated to witness the fastest growth. Changes in the dietary needs of patients with CKD and the growing incidence of renal disorders, particularly among the elderly, are two significant reasons driving the segment’s rise. According to CDC estimates, the incidence of CKD among individuals aged 65 and over was about 38 % in the U. S. in 2019.
Despite a huge decline in the sales of products during the initial phase of pandemic spread and lockdown restrictions all over the region, the market is observed to pick up a quick pace for registering a CAGR of almost more than 5.2%, during the tenure of 2021 – 2027. The report published by Maximize encompasses the market dynamics, which could affect the market growth of Medical Food in the region, the Value – Chain Analysis, and the PORTER’s analysis for the Medical Food market at a global level
The study is associated based on major segments and further into sub-segments By Route of Administration (Oral, and Enteral), Product (Pills, powder, and other), By Application (Chronic Kidney Disease, Minimal Hepatic Encephalopathy, Chemotherapy-induced Diarrhea, Pathogen Related Infections, Diabetic Neuropathy, ADHD, Depression, Alzheimer’s Disease, Nutritional Deficiency, Orphan Diseases), by sales channel (Online sales, retail sales, Institutional sales)
Lastly, the market research report provides a regional comparison and a complete country-level analysis for the Product trends, along with the major key players- Danone; Nestle; Abbott; Fresenius Kabi; Targeted Medical Pharma; Mead Johnson and Company, LLC.; Medtrition, Inc.; Primus Pharmaceuticals, Inc., Metagenics, Inc., Alfasigma Group., Dutch Medical Food, Agilent Technologies, Swiss Medical Food AG.
You can browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on the “Global Medical Foods Market.”
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