Global medical foods market expected to reach $49.73 billion by 2033, driven by elderly population and personalized nutrition

From GlobeNewswire: 2024-08-07 11:00:00

The Global Medical Foods Market is set to reach USD 49.73 billion by 2033, with a 7.24% CAGR. Medical foods are specially formulated to address specific health conditions, not classified as drugs but regulated by the FDA for quality and labeling. Increasing elderly population and personalized nutrition drive demand for medical foods targeted towards chronic conditions.

The oral segment dominates the medical foods market, with a variety of formats like powders and pills driving demand. Powdered medical foods are popular for their convenience and ease of use, especially among different age groups. Institutional sales lead the market, catering to patients with chronic conditions seeking specialized nutrition solutions.

North America is the largest market for medical foods, driven by an aging population and rising demand for specialized products. Asia Pacific is expected to see the fastest growth, fueled by government initiatives to enhance healthcare and increasing cases of chronic diseases. Major players in the market include Danone, Nestlé, Abbott, and others, with a focus on product innovation and strategic partnerships.

Recent developments include Danone’s acquisition of ProMedica, aiming to strengthen its presence in the specialized nutrition market. The market is segmented by route of administration, product type, sales channel, and region to provide comprehensive insights into the global medical foods market trends and opportunities for growth.



Read more at GlobeNewswire: Global Medical Foods Market Size To Worth USD 49.73 Billion