June 17, 2024
U.S. Medical Foods Market

The U.S. Medical Foods Market Powered By Growing Prevalence Of Chronic Diseases

The U.S. medical foods market involves specially formulated products designed to manage chronic diseases or health conditions such as diabetes, cancer, Alzheimer’s, and more. Medical foods are complex formulations tailored to the unique nutritional requirements of a disease and are intended to supplement or replace the patient’s diet. They aim to achieve specific disease management through providing medically prescribed macro and micronutrients including proteins, carbohydrates, vitamins, fibers, fatty acids and minerals. Medical foods offer targeted nutritional support in conditions where conventional foods and dietary intake alone are not adequate.

The global U.S. Medical Foods Market is estimated to be valued at US$ 25722.45 Bn in 2024 and is expected to exhibit a CAGR of 21.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends driving growth in the U.S. medical foods market is the growing prevalence of chronic diseases across the country. As per Centers for Disease Control and Prevention reports, over 133 million Americans suffer from at least one chronic disease and more than 40% suffer from two. Rise in geriatric population also enhances the risk of developing various chronic health conditions and necessitates specialized nutrition. Growing awareness among physicians and patients about evidence-based benefits of medical foods in disease management is increasing their demand. Manufacturers are focusing on strategic partnerships to expand market reach and undertake new product launches to cater to unmet needs in varied therapeutic areas such as diabetes, cancer care nutrition and more. However, lack of insurance coverage for these specialized medical nutrition products acts as a major limitation for widespread adoption.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the U.S. Medical Foods market is low. Significant investment is required to enter into research, manufacturing and distribution.

Bargaining power of buyers: The bargaining power of buyers in the U.S. Medical Foods market is high given the presence of many medical food options available to them.

Bargaining power of suppliers: The bargaining power of suppliers in the U.S. Medical Foods market is moderate as suppliers need to adhere to strict guidelines and regulations.

Threat of new substitutes: The threat of new substitutes for medical foods is moderate as research leads to newer therapeutic options for various conditions.

Competitive rivalry: The competitive rivalry in the U.S. Medical Foods market is high due to the presence of established market players.

Key Takeaways

The Global U.S. Medical Foods Market Demand is expected to witness high growth over the forecast period of 2024 to 2031. Regional analysis

The Western and Southern regions of the U.S. dominate the U.S. Medical Foods market. The growth in these regions can be attributed to higher healthcare expenditure, availability of advanced treatments and presence of key market players.

Key players: Key players operating in the U.S. Medical Foods market are Magellan, Medipost Co., Ltd, Osiris Therapeutics, Inc., Kolon TissueGene, Inc., JCR Pharmaceuticals Co., Ltd., Anterogen Co. Ltd., Pharmicell Co., Inc., and Stemedica Cell Technologies, Inc. These players are focusing on expansion strategies to increase their geographic presence and product offerings.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it