Medical Foods Market Overview:
Foods that are formulated to be consumed or administered under the supervision of a physician as the sole means of managing a disease or condition whose distinctive nutritional requirements have been established by medical evaluation are classified as medical foods. Medical foods include special infant formulas, formulations for metabolic disorders, oral rehydration products, and products for chronic diarrhoea, as well as formulas for individuals with diabetes, AIDS, kidney disease, or inborn errors of metabolism. The Medical Foods Market report is come up with the PESTLE analysis, PORTER’s five force analysis and segment analysis on the basis of product, route of administration, application, sales channel and region.
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Medical Foods Market Scope:
This market report makes extensive use of secondary sources, directories, and databases, such as annual reports, press releases, journals, company websites, and other databases, to discover and collect excerpts acceptable for this study.
Medical Foods Market Segmentation:
Based on the Route of Administration, the market is segmented into Oral, and Enteral. Oral route of administration segment is expected to hold the largest market share by 2027. The widespread use of the oral route for the administration of therapeutic meals is expected to drive the segment growth in the global market during the forecast period. A rise in production of oral products in the form of powders, tablets, and pre-thickened products is also expected to support segment adoption in the forecast period. Modulen, for example, is a Nestle medical food product that aids in the restoration of nutritional requirements in Crohn’s disease patients. These are the factors that are expected to drives the growth of this segment in the Medical Foods market during the forecast period 2021-2027.
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Medical Foods Market Key Players:
Major players in the market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top manufacturers; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, CEOs, and marketing executives. The percentage splits, market shares, growth rate, and breakdowns of the global markets are determined by using secondary sources and verified through the primary sources. The biggest players in the Medical Foods market are as follows:
- Abbott
- Mead Johnson & Company, LLC
- Fresenius Kabi
- Targeted Medical Pharma, Inc.
- Primus Pharmaceuticals, Inc.
- Medtrition, Inc.
- Reckitt Benckiser Group plc.
- Metagenetics, Inc.
- Cerecin Inc.
- Alfasigma USA, Inc.
Medical Foods Market Regional Analysis:
Individual market influencing elements and changes in market laws that influence present and future market trends are also included in the geographical overview of the Medical Foods market study. Current and future trends are examined in order to assess the entire market potential and uncover profitable trends in order to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Medical Foods Market:
Due to a break in operations, end-user sectors where Medical Foods are used had a decline in growth from January to May in various countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India. This resulted in a large drop in the revenues of firms operating in these industries and, as a consequence, in demand for Medical Foods manufacturers, affecting the development of the Medical Foods market in 2020. End-user business demand for Medical Foods has dropped considerably as a result of lockdowns and a rise in COVID-19 incidents throughout the world.
Key Questions Answered in the Medical Foods Market Report are:
- Which segment had the largest share in the Medical Foods market in 2021?
- What is the competitive landscape of the Medical Foods market?
- Which are the key drivers aiding the Medical Foods market growth?
- Which region has the maximum share in the Medical Foods market?
- What will be the CAGR of the Medical Foods market during the forecast period (2022-2027)?
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