North America And Europe Medical Foods Industry Overview
The North America and Europe medical foods market size was valued at USD 11.5 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.3% from 2021 to 2028.
Some of the drivers of the market are the rising geriatric population, the increasing prevalence of chronic diseases, and the growing focus of policymakers on the management of malnutrition. As per the data published by Population Reference Bureau in July 2019, the number of Americans aged 65 years or more is projected to double from an estimated 52.0 million in 2018 to 95.0 million by 2060.
Gather more insights about the market drivers, restrains and growth of the North America And Europe Medical Foods Market
The overall population age group share is anticipated to increase from 16.0% to 23.0%. Dietary management of chronic diseases and rare disorders is an emerging focus area for manufacturers of medical foods, which is also positively impacting the market growth. Patients suffering from chronic and infectious diseases such as tuberculosis, hepatitis, cancer, pneumonia, diabetes, and other neurological disorders develop nutritional deficiencies owing to adverse effects of the disease or drugs that are used for the treatment. Medical foods play a vital role in addressing these nutritional deficiencies as part of the overall treatment regimen, thus boosting their consumption.
The geriatric patient population suffering from neurological health disorders, such as stroke, multiple sclerosis, and dementia, which causes difficulty in swallowing, is the biggest target population for the market for medical foods in North America and Europe. This, in turn, has bolstered the adoption of medical foods for providing adequate nutritional support and mitigating the challenges of nutrition deficit among patients diagnosed with these conditions through enteral nutrition feeding tubes and oral nutrition supplements. Moreover, high unmet needs in developing North America and European countries with lucrative growth opportunities are expected to drive manufacturers to expand into these regions.
Browse through Grand View Research’s Pharmaceuticals Industry Research Reports.
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Market Share Insights
- April 2021: Nestle acquired the core brands of The Bountiful Company for USD 5.75 billion.
- February 2020: According to the article published by Healthline, an estimated 48.0 million people are anticipated to be diagnosed with diabetes by 2050.
Key Companies profiled:
Some prominent players in the North America And Europe medical foods market include
- Danone
- Nestle
- Targeted Medical Pharma, Inc.
- Abbott
- Primus Pharmaceuticals, Inc.
- Medtrition, Inc.
- Mead Johnson & Company, LLC
- Fresenius Kabi AG
Order a free sample PDF of the North America And Europe Medical Foods Market Intelligence Study, published by Grand View Research.
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