by Medical foods are Nutrients that are formulated to be consumed or administered enterally under the supervision of a physician to manage a disease or health condition. These are processed or engineered foods with distinct nutritional qualities intended for dietary management of a disease or disorder. They find applications in managing conditions such as phenylketonuria (PKU), Alzheimer’s disease, diabetes, Cancer, gastrointestinal tract disorders, and other conditions. Products include dietary supplements, protein supplements, plant-based supplements, probiotics, prebiotics, medical lipids, dietary fiber and other specialty formulas. The global medical foods market accounted for over US$ 22,328.51 million in 2023.
The global U.S. Medical Foods Market is estimated to be valued at US$ 22,328.51 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 Dynamics
Growing prevalence of medical conditions requiring therapeutic nutrition: The global burden of chronic diseases is continuously increasing owing to rising geriatric population and changing lifestyles. As per Centers for Disease Control and Prevention’s National Center for Chronic Disease Prevention and Health Promotion, 6 in 10 adults in the US have a chronic disease and 4 in 10 adults have two or more chronic diseases. This increasing prevalence of conditions such as diabetes, cancer, neurological disorders, gastrointestinal disorders is propelling the demand for medical foods designed to manage the diseases.
Moreover, therapeutic medical nutrition has demonstrated significant health benefits in managing conditions such as diabetes, gastrointestinal disorders and cancer. Such evidences are further strengthening the adoption of medical foods among physician and patients. The key opportunity from prevalence of these conditions is driving significant growth of U.S. medical foods market during the forecast period.
Segment Analysis
The U.S. Medical Foods market is dominated by the enteral nutrition segment, which holds around 65% market share. This is because enteral nutrition products are prescribed extensively for patients facing difficulties in chewing and swallowing foods. The oral medical foods sub-segment is also growing at a faster pace due to increasing adoption of dietary management solutions in the form of pills, powders, and liquids.
PEST Analysis
Political: The U.S. medical foods market is regulated by the Food and Drug Administration (FDA). Any new product introductions need regulatory approval, which can impact the timelines of market players.
Economic: Rising healthcare spending in the U.S. is fueling the demand for customized medical nutrition therapies. Additionally, growing prevalence of chronic diseases will drivefurther expenditures on disease-specific medical foods for dietary management.
Social: Higher health awareness among American population regarding nutrition-based therapies is supporting the adoption of medical foods. People are increasingly willing to try dietary management solutions to improve health conditions.
Technological: Leading manufacturers are focusing on new product technologies for enhancing solubility, taste, and convenience of use. Digital health solutions are also being combined with medical nutrition programs for improving adherence and health outcomes.
Key Takeaways
The U.S. Medical Foods Market Size is expected to witness high growth due to various factors like rising geriatric population, increasing prevalence of chronic diseases, growing obesity rates, and favorable reimbursement policies. The global U.S. Medical Foods Market is estimated to be valued at US$ 22,328.51 in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030.
The western U.S. generates the highest demand for medical foods led by states like California and Washington. This is because of presence of key market players, large patient pools, and higher health awareness in these regions. Northeastern U.S. also captures significant market share.
Key players operating in the U.S. Medical Foods market are Enterome SA, Yakult Honsha Co., Ltd., Abbott, ExeGi Pharma, LLC, VSL Pharmaceuticals, Inc., Entera Health, Inc., Meiji Holdings Co., Ltd., and Danone. These corporations are focusing on new product launches, facility expansions and mergers & acquisitions to strengthen their market presence.
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Source: Coherent Market Insights, Public sources, Desk research
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