Market Insight

Medical Foods Market are principally formulated food products intended to be used under the supervision of medical and other appropriate health professionals. They work by supplying nutrition, not available in a normal diet, for the management of certain diseases such as Alzheimer’s, diabetic neuropathy, nutritional deficiency, depression, and others. They can be administered through oral or enteral route depending on the absorption capacity of the patient. Moreover, medical foods are made with Generally Recognized As Safe (GRAS) ingredients which include vitamins and minerals, proteins, omega-3, isoflavones, phytosterols and others.

Medical foods are custom made liquid solutions used entirely to treat consumers suffering from Alzheimer’s, diabetic neuropathy, nutritional deficiency, depression, and others. Their main function is to supply nutrients which is not available to the consumers through normal diet. They are available in different forms such as pills, powder and others for consumption. Medical foods are intended to be used under the supervision of medical and other appropriate health professionals.

Medical foods are expected to grow continuously over the estimated time with growing awareness among the consumers. Increasing issue of nutritional deficiency in the population is resulting in the prevalence of chronic diseases, which is driving the growth of the market.

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Rise in global geriatric population followed by diseases associated with the growing age is propelling the market for medical foods. However, lack of awareness among the consumers leading to confusion in terms such as medical nutrition, functional foods, or nutraceuticals may hamper the growth of the market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 6.4% of medical foods market during the forecast period 2017-2023.

Competitive Analysis

The major players in the Medical Foods Market,

• Mead Johnson & Company, LLC (U.S.)
• Primus Pharmaceuticals Inc. (U.S.)
• Targeted Medical Pharma Inc. (U.S.)
• Fresenius Kabi AG (Germany)
• Danone (France)
• Nestlé (Switzerland)
• Abbott (U.S.)

Downstream Analysis

Medical foods market is segmented on the basis of nutritional ingredients such as vitamins and minerals, proteins, omega 3, isoflavones, phytosterols, and others. Among all, proteins segment is dominating the market. However, omega-3 is witnessed to be the fastest growing segment in nutritional ingredients used for medical foods since they help lower the risk of heart disease, depression, dementia, and arthritis.

Based on the form, medical foods market is segmented into pills, powder and others. Among all, powder form is dominating the market over the past years. However, pills segment is projected to be growing at the fastest rate which also includes tablets and capsules.

Based on ailment, medical foods market is segmented into Alzheimer’s diseases, diabetic neuropathy, nutritional deficiency, depression, and others. Among all, diabetic neuropathy is dominating the market as majority of the diabetic consumers suffer from some kind of neuropathy. However, nutritional deficiency segment is witnessed to be the fastest growing segment over the forecast period based on lack of nutrition level in patients suffering from any of the diseases.

Segments:

Medical foods market is segmented on the basis of nutritional ingredients such as vitamins and minerals, proteins, omega 3, isoflavones, phytosterols, and others. Among all, proteins segment is dominating the market. However, omega-3 is witnessed to be the fastest growing segment in nutritional ingredients used for medical foods.

Based on the form, medical foods market is segmented into pills, powder and others. Among all, pills segment is projected to be growing at the fastest rate and includes tablets and capsules. However, powder form is dominating the market over the past years.

Based on ailment, medical foods market is segmented into Alzheimer’s diseases, diabetic neuropathy, nutritional deficiency, depression, and others. Among all, diabetic neuropathy is dominating the market as majority of the diabetic consumers suffer from some kind of neuropathy. However, nutritional deficiency segment is witnessed to be the fastest growing segment over the forecast period.  

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Regional Analysis

Medical Foods Market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). North America is dominating the global market followed by Europe. Increasing awareness of medical foods in the U.S. and growing problem of Alzheimer’s diseases is driving the market for medical foods in this region.

Asia Pacific is projected to be the fastest growing region in which the major contributor is China. Continuous innovation and improved education towards medical foods will positively impact the market for rest of the world.        

The global Medical Foods Market size is expected to reach USD 27.20 billion by 2025, registering a CAGR of 6.7% from 2019 to 2025, according to a new report by Grand View Research, Inc. Rising geriatric population and increasing prevalence of chronic diseases are among the key factors driving the market. According to the WHO estimates published in February 2018, the population aged 60 years and above is expected to increase from 12% in 2015 to 22% by 2050. Non-communicable diseases impose a high economic burden on health systems globally. According to a study conducted by the researchers from University of Liège, Belgium, the population suffering from sarcopenia in Europe is expected to increase from 11.1% in 2016 to 12.9% in 2045.

Medical foods help treat and prevent age-related sarcopenia. Thus, the demand for medical foods in the management of chronic conditions, such as sarcopenia, is expected to augment the market development. Moreover, various public and private initiatives in the field of clinical nutrition is projected to boost the market further. A number of manufacturers are extending their capabilities in the sports nutrition market with various strategic initiatives, such as M&A and new product launches, to fulfill the escalating demand. For instance, in May 2016, Hormel Foods introduced HORMEL VITAL CUISINE, a range of Ready-to-Eat (RTE) meals, whey protein powders, and nutritional shakes. This product line was specially designed to meet the nutritional requirements of cancer patients.

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Further key findings from the study suggest:

• Orally administered medical foods accounted for the highest revenue share and are projected to maintain the dominance in future owing to ease in administration and their commercial viability
• Enteral administrationis expected to witness the fastest CAGR of 7.2% over the forecast period
• Diabetic neuropathy held the largest revenue share in 2018 owing to high disease prevalence. However, chronic kidney disorder is expected to emerge with the fastest CAGR of 9.7% from 2019 to 2025
• Institutional sales emerged as the largest sales channel segment in 2018. However, the online sales segment is projected to register the fastest CAGR during the forecast years
• Asia Pacific is among the prominent regions owing to huge geriatric population base and high burden of chronic diseases
• Danone S.A., Nestle S.A., Abbott Laboratories, Fresenius Kabi, and Mead Johnsons & Company, LLC are the major companies in the medical foods market

Medical foods will continue to grow in importance over the coming years. There is an increasing prevalence of chronic diseases that are candidates for treatment with medical foods, such as: depression, sleep disorders, posttraumatic stress disorders, obesity, Alzheimer’s, osteoporosis, and fibromyalgia.        

The industry has grown manifolds in last two decades, with most of the growth folding post 2010. Healthcare expenditure has increased not only in developed economies but also developing regions. Moreover, the in-patient to outpatient ratio has almost doubled in last two decades. As such, the industry holds immense potential for companies to capitalize. Various big companies along with emerging entrants are making foray in the market with different go-to-market strategies. The global medical food market is driven by a rise in geriatric population and increase in burden of chronic diseases around the globe. There is a shifting trend toward enteral nutrition (absorption through the gastrointestinal tract) methods rather than parenteral nutrition absorption such as intravenous administration.

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In terms of application, the market can be divided into diabetes management, bone & joint related diseases, Alzheimer disease, depression, medical foods for inborn errors, gastrointestinal diseases, and others. The diabetes management segment held a major market share in 2017, and the trend is expected to continue during forecast period. New product launches and rise in prevalence of diabetes in developed as well as developing countries are major factors boosting the segment. The rising prevalence of ADHD among children is also likely to remain a key driver for the global medical foods market. The growing prevalence of the disease has led to intensive research into its causation and treatment. The role of nutrition in the management of psychological problems such as ADHD has thus come under the scanner. On the opposite end of the spectrum, the rising prevalence of neurodegenerative conditions among the geriatric population is also likely to remain a key driver for the global medical foods market in the coming years.

The medical food products are broadly classified as pills, powders, and others. The pills segment includes tablets and capsules. In 2015, the powders segment held the maximum share as majority of medical food products are manufactured in powder form and are administered in a semisolid or liquid form.

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some major key players in this market are Danone; Nestlé; Abbott; Targeted Medical Pharma Inc.; Primus Pharmaceuticals Inc.; Mead Johnson & Company, LLC; and Fresenius Kabi AG. Geographic expansion, new product development, and mergers and acquisitions