Medical Foods Market Is Predicted To Grow Quickly Due To The Growing Nutritional Deficiency Due To Diseased Conditions Till 2025: Grand View Research, Inc.
The global medical foods market is expected to reach a value
of USD 24.4 billion by 2025, according to a new report by Grand View Research,
Inc. The medical foods market is anticipated to grow at a CAGR of 6.9% over the
forecast period. The key factors supporting expansion include the growing
awareness about medical foods, improvement in patient healthcare outcomes, rise
in prevalence of several chronic diseases, increase in malnutrition, and
continuous innovation.
The use of medical foods to
assist the patients during the treatment of chronic diseases has been a
prevalent practice. However, lack of awareness about the proper usage, quality
concerns, and overlapping claims about benefits associated due to the usage of
medical foods have restricted the growth of medical foods market.
The difference between functional
foods, dietary supplements, and medical foods is still not clear for several
healthcare practitioners. Therefore, errors in prescription or use of
substitute products is a major trend observed in the market. Furthermore, the regulatory
uncertainty pertaining to the classification of medical foods as a separate
category has also affected the market growth.
The prevalence of chronic
diseases such as diabetic neuropathy, Alzheimer’s, Attention Deficit
Hyperactivity Disorder (ADHD), and several metabolic diseases is increasing
rapidly The risk of neuropathy significantly increases with increase in age,
changes in diet, and adoption of an unhealthy lifestyle. Some of the symptoms
usually associated with neuropathy include numbness, tingling, and pain in the
feet, arms, & legs. Furthermore, some of the key products used to treat
this condition include Percura capsules, METANX, and Foltanx.
The growing number of patients
with Alzheimer’s disease is also increasing rapidly. As per the estimates
published by the Alzheimer’s Society, in the U.S., an estimated 5.4 million
Americans across all ages are suffering from this disease. On further analysis
of the data, it is observed that nearly 5.2 million people are aged 65 and
above. Thus, rise in the geriatric population is also a major factor driving
the medical foods market.
Browse full research report on Medical Foods Market: http://www.grandviewresearch.com/industry-analysis/medical-foods-market
Further Key Findings from
the Study Suggest:
- In 2015, oral route held the highest share as
majority of the products are administered through the oral feeding
- In 2015, powders category accounted for nearly 79% of
the market share
- In 2015, diabetic neuropathy was the largest
application with a share of 34.3% owing to growing awareness about
nutritional requirements during the treatment of chronic diseases
- Asia Pacific is expected to lead the growth with a
CAGR of 7.8% from 2016 to 2025
- Some of the key players are Danone; Nestlé; Abbott;
Targeted Medical Pharma Inc.; Primus Pharmaceuticals Inc.; Mead Johnson
& Company, LLC.; and Fresenius Kabi AG.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/pharmaceuticals
Grand View Research has segmented the medical foods market
by route of administration, by product, by application, and by region:
Medical Foods Route of Administration Outlook (Revenue in
USD Million, 2014 - 2025)
- Oral
- Enteral
Medical Foods Product Outlook (Revenue in USD Million,
2014 - 2025)
- Pills
- Powder
- Others
Medical Foods Application Outlook (Revenue in USD
Million, 2014 - 2025)
- Diabetic
Neuropathy
- ADHD
- Depression
- Alzheimer’s
disease
- Nutritional
Deficiency
- Others
Medical Foods Regional Outlook (Revenue in USD Million,
2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia
Pacific
- Japan
- China
- Latin
America
- Brazil
- Mexico
- Middle
East and Africa
- South
Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
Comments
Post a Comment