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Medical Nutrition Products Segment is the largest segment driving the growth of U.S. Medical Foods Market

U.S. Medical Foods Market

The global U.S. Medical Foods Market is estimated to be valued at US$ 22,328.51 Mn in 2023 and is expected to exhibit a CAGR of 17.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:-

Medical foods are specially formulated and intended for the dietary management of a disease or condition for which distinctive nutritional requirements, based on recognized scientific principles, are established by medical evaluation. Medical foods require a prescription and are intended for use under medical supervision. Medical foods help in filling the nutritional gap created by the disease or condition and are intended for patients who require a therapeutic nutritional support in addition to diet modifications.

Market key trends:-

The U.S. medical foods market is witnessing robust growth due to the increasing incidence and prevalence of a variety of medical conditions such as Crohn’s disease, diabetes, cancer, Alzheimer’s disease, etc. which require specific nutrition support. As per research sources, Crohn’s disease affects around 780,000 adults in the U.S. The condition causes inflammation and damage to the digestive tract. Medical foods containing specific prebiotics and probiotics help in managing symptoms associated with the disease and reduces complications. Additionally, increasing awareness regarding nutrients that specifically target medical conditions and filling those nutritional gaps is also driving demand for medical nutrition products in the country.

Market key trends:-

The U.S. medical foods market has been witnessing significant growth over the past few years. One of the key trends contributing to this growth is the increasing prevalence of chronic and degenerative disorders. Diseases like diabetes, malnutrition, cancer, Alzheimer's, and gastrointestinal disorders are on the rise. Medical foods help in supporting the nutritional requirements of individuals suffering from these conditions. Their specialized formulation allows them to address the underlying pathology of the disease. This is boosting the consumption of medical foods for management as well as prevention of diseases.

SWOT Analysis:-

  • Strength: Specialized formulation addressing the underlying disease pathology.
  • Weakness: Higher costs than conventional foods.
  • Opportunity: Rising chronic diseases providing growth opportunities.
  • Threats: Stiff competition from functional foods and dietary supplements.

Key Takeaways:-

The Global U.S. Medical Foods Market Growth is expected to witness high, exhibiting CAGR of 17.% over the forecast period, due to increasing incidence and prevalence of Crohn's disease. The market size for 2023 is US$ 22328.51 Mn. The western region currently dominates the U.S. medical foods market owing to higher awareness levels regarding preventive healthcare and nutrition. Key players operating in the U.S. Medical Foods Market include Nestle, Danone, Abbott, Targeted Medical Pharma, Primus Pharmaceuticals Inc., Mead Johnson & Company, LLC., and others. Increasing awareness regarding prebiotics and probiotic products are expected to provide lucrative opportunities for market players over the coming years.

Regional analysis:-

The western region is the fastest growing as well as the dominating region in the U.S. medical foods market. This can be attributed to higher disposable incomes and better access to healthcare facilities in states like California, Washington etc. The region is characterized by greater health consciousness and awareness about the role of specialized nutrition in management of diseases. These factors have been driving greater adoption of medical foods among individuals as well as care providers in the western U.S.

Key players:-

Key players operating in the U.S. Medical Foods Market include Nestle, Danone, Abbott, Targeted Medical Pharma, Primus Pharmaceuticals Inc., Mead Johnson & Company, LLC.

 

Read more - https://www.insightprobing.com/u-s-medical-foods-market-forecasts-and-outlook-analysis/

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