UK markets closed
  • FTSE 100

    7,204.55
    +14.25 (+0.20%)
     
  • FTSE 250

    22,931.66
    +14.61 (+0.06%)
     
  • AIM

    1,234.19
    -7.18 (-0.58%)
     
  • GBP/EUR

    1.1821
    -0.0040 (-0.33%)
     
  • GBP/USD

    1.3739
    -0.0057 (-0.41%)
     
  • BTC-GBP

    44,291.32
    -1,897.92 (-4.11%)
     
  • CMC Crypto 200

    1,449.99
    -53.05 (-3.53%)
     
  • S&P 500

    4,543.66
    -6.12 (-0.13%)
     
  • DOW

    35,691.34
    +88.26 (+0.25%)
     
  • CRUDE OIL

    83.57
    +1.07 (+1.30%)
     
  • GOLD FUTURES

    1,797.40
    +15.50 (+0.87%)
     
  • NIKKEI 225

    28,804.85
    +96.27 (+0.34%)
     
  • HANG SENG

    26,126.93
    +109.40 (+0.42%)
     
  • DAX

    15,542.98
    +70.42 (+0.46%)
     
  • CAC 40

    6,733.69
    +47.52 (+0.71%)
     

North America And Europe Medical Foods Market Report 2021-2028 - Surge in Awareness Regarding Clinical Nutrition Among Patients and Healthcare Professionals - ResearchAndMarkets.com

·5-min read

DUBLIN, September 22, 2021--(BUSINESS WIRE)--The "North America And Europe Medical Foods Markets, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.

The North America and Europe medical foods market size is expected to reach USD 16.1 billion by 2028 and is expected to expand at a CAGR of 4.3%

The growing prevalence of chronic diseases, COVID-19 pandemic, increasing geriatric population adopting medical foods, and surge in awareness regarding clinical nutrition among patients and healthcare professionals are factors boosting overall growth. In addition, the rise in the number of research claiming positive results associated with the adoption and usage of medical foods is further propelling the market growth.

As per the research paper published in the Food Science and Human Wellness journal in 2019, medical foods have shown symptomatic advantages in Alzheimer's disease. Axona, Souvenaid, and CerefoliNAC are some of the medical foods that have shown effects on people suffering from Alzheimer's disease.

As of 2020, the oral route of administration segment held the largest market share owing to a high preference for oral products over enteral, high commercial availability, and growing investment by major industry players. On the other hand, the enteral route segment is expected to register the fastest growth during the forecast period owing to constant improvements in enteral feeding formula and devices and the increasing prevalence of target diseases.

Growing awareness among the healthcare professionals and patient population regarding the benefits of enteral medical foods is one of the crucial factors anticipated to boost the overall market growth over the forecast period.

The others segment, which includes liquid, semi-liquid, and semi-solid, accounted for the majority of revenue share in 2020. Ease of administration and presence of a large product portfolio, which cater to various medical conditions are among key factors that can be attributed to its large revenue share.

On the other hand, powder medical foods are expected to be the fastest-growing segment during the forecast period. Medical foods in the form of powdered formulae are suitable for patients of all age groups, especially in the case of the oral route. This, in turn, is aiding segment growth.

The non-reimbursed segment accounted for the largest revenue share in 2020 owing to the shortage of reimbursement coverage from healthcare payers in the U.S. and European Union. On the other hand, the reimbursed segment is anticipated to register the fastest growth during the forecast period.

The growth is attributed to initiatives undertaken by the government to improve reimbursement coverage. For instance, several U.S. states passed legislation to limit out-of-pocket expenses for medical nutrition therapy, limiting it to USD 100-500 per medication per month, depending on insurance plan type to increase reimbursement coverage and boost adoption of medical foods.

In 2020, other diseases segment, which includes diseases and health conditions such as Parkinson's disease, epilepsy, and cancer-related conditions, held the largest revenue share of the market. Weight loss is a major physical change observed among cancer patients.

Various medical foods are prescribed to supplement dietary requirements and enable faster recovery of patients. On the other hand, the diabetic neuropathy segment is anticipated to register the fastest growth during the forecast period. The large diseased population and rise in risk for developing neuropathy among diabetes patients are some of the key factors attributing to segment growth.

As of 2020, the institutional sales segment held the largest revenue share owing to the high consumption of medical foods for chronic disease management, primarily influenced by healthcare institutes such as hospitals, clinics, and care centers. Moreover, key players majorly rely on institutional sales channels through a group of sales representatives who sell directly to the healthcare institutions and physicians.

On the other hand, the online sales segment is expected to register the fastest growth over the forecast period. This is owing to the lockdown imposed by the COVID-19 pandemic and the convenience offered by the sales channel for ordering products at the comfort of their homes.

As of 2020, North America accounted for the highest revenue share and is expected to exhibit the fastest CAGR over the forecast period. This can be attributed to an increase in the prevalence of target diseases such as diabetes, cancer, malnutrition, obesity, and cardiovascular diseases in this region. The geriatric population is also significantly high in this region.

Moreover, the local presence of key market players such as Abbott, Nestle, Danone, and Fresenius Kabi and the high revenue generated by these companies in North America are among the key factors that can be attributed to the large market share.

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 North America & Europe Medical Foods Market Variables, Trends & Scope

Chapter 4 North America & Europe Medical Foods Market: Competitive Analysis

Chapter 5 North America & Europe Medical Foods Market: Route of Administration Estimates & Trend Analysis

Chapter 6 North America & Europe Medical Foods Market: Products Estimates & Trend Analysis

Chapter 7 North America & Europe Medical Foods Market: Payment Scheme Estimates & Trend Analysis

Chapter 8 North America & Europe Medical Foods Market: Application Estimates & Trend Analysis

Chapter 9 North America & Europe Medical Foods Market: Sales Channel Estimates & Trend Analysis

Chapter 10 North America & Europe Medical Foods Market: Regional Estimates and Trend Analysis, by Route of Administration, Product, Payment Scheme, Application, & Sales Channel

Chapter 11 Competitive Landscape

  • Danone

  • Nestle

  • Abbott

  • Targeted Medical Pharma Inc

  • Primus Pharmaceuticals, Inc.

  • Mead Johnson & Company, Llc

  • Medtrition Inc.

  • Fresenius Kabi Ag

For more information about this report visit https://www.researchandmarkets.com/r/136rd9

View source version on businesswire.com: https://www.businesswire.com/news/home/20210922005557/en/

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting