Medical food is food intended to meet nutritional requirements and/or metabolic deficiencies in an individual suffering from a particular disease. Medical food is specially formulated for a patient to be taken by means of oral intake or enteral feeding by tube (a catheter). These foods are principally formulated products, intended to be used under supervision of medical or health professionals. Medical foods offer patients an effective therapeutic tool for managing pain, sleep, and cognitive disorders without many of the risks associated with pharmaceutical drugs.
Growing awareness among individuals in developing economies about medical foods is expected to fuel growth of the global medical foods market over the next five years
Growing awareness among individuals about medical foods in developed economies, high prevalence rate of chronic diseases such as diabetes, Alzheimer disease, and increasing unhealthy lifestyle among individuals are key factors driving growth of the global medical foods market. Additionally, high expenditure in healthcare sector by governments in developed economies, and continuous innovation in medical foods are other factors fueling growth of the global medical foods market over the forecast period.
However, lack of awareness related to proper use of medical foods is a key factor restraining growth of the global medical foods market. Additionally, comparatively high costs of medical foods as compared to traditional foods products, and low availability of medical foods in developing economies are other factors expected to hamper growth of the global medical foods market.
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The global medical foods market is segmented on the basis of route of administration, product, application, and region. On the basis of region, the global medical foods market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The market in North America accounted for highest share in terms of revenue, in the global medical foods market, owing to increasing unhealthy lifestyle among individuals, and high expenditure on healthcare sector by governments in countries in the region. The market in Europe accounted for second-highest share in terms of revenue, owing to growing awareness about medical foods in the region. The market in Asia Pacific is expected to witness fastest growth in terms of revenue owing to growing awareness among individuals about medical foods in emerging economies such as China and India.
Prominent players in the global medical foods market include Abbott, Targeted Medical Pharma, Inc., Danone, MEIJI Holdings Co., Fresenius Kabi AG, Nestlé S.A., Primus Pharmaceuticals, Inc., Mead Johnson & Company, LLC, and VICTUS, INC.