logo
logo
Sign in

U.S. Medical Foods Market Will Grow At Highest Pace Owing To Rising Prevalence Of Metabolic Disorders

avatar
Poonam
U.S. Medical Foods Market Will Grow At Highest Pace Owing To Rising Prevalence Of Metabolic Disorders

The U.S. medical foods market involves products that are specially formulated and intended for the dietary management of a disease or health condition for which distinctive nutritional requirements, based on recognized scientific principles, are established by medical evaluation. Medical foods are generally small molecule nutrients, extracts or concentrated metabolites that are administered orally either as drinks or pills. They are intended to be used under medical supervision and may require prescription by a physician.

The 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 2030.

Key Takeaways

Key players operating in the U.S. medical foods 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 developing innovative products and using advanced technologies to strengthen their market position.

The demand for medical foods is increasing rapidly due to rising prevalence of metabolic disorders such as diabetes, renal disorders, neurological diseases, gastrointestinal diseases, and others. As per the statistics by Centers for Disease Control and Prevention, around 34.2 million people had diabetes in the U.S. in 2018. Additionally, the American Association of Kidney Patients reported that over 750,000 people have End Stage Renal Disease (ESRD) in the U.S.

Technological advancements are allowing medical food manufacturers to develop targeted, convenient, and more efficacious products. Players are investing heavily in R&D to launch novel formulations that can precisely meet the nutritional requirements of specific health conditions. The growing popularity of personalized nutrition is also driving innovations in medical foods.

Market Trends

- Increasing demand for personalized medical foods: Players are developing more customized products that cater to specific patient needs based on their medical history, genetics, lifestyle and other factors. This trend is driven by the rising focus on personalized care.

- Growth in e-commerce: Online sales of medical foods are gaining traction due to the convenience offered. Major players are strengthening their online presence and direct-to-consumer channels.

Market Opportunities

- Emerging markets: Countries like China, India, Brazil, Mexico and others present lucrative opportunities for medical food companies due to their large patient pools and growing healthcare expenditure.

- Collaborations with healthcare providers: Partnering with hospitals, clinics, pharmacies and physicians can help companies further penetrate the market and increase product awareness.

Impact of COVID-19 on U.S. Medical Foods Market

The COVID-19 pandemic has significantly impacted the U.S. medical foods market. When the pandemic first began in early 2020, there was surge in demand for medical foods specially formulated to boost immunity and address malnutrition in COVID patients. However, supply chain disruptions caused by lockdowns affected raw material procurement and manufacturing of these products. As a result, many medical food companies faced short term challenges in meeting the spurt in demand.

As the pandemic continued through 2021 and 2022, there was shift in preferences towards medical foods that aid in recovery from post-COVID symptoms like fatigue, brain fog and loss of taste and smell. Products rich in nutrients like vitamins C and D, zinc and protein found more traction. Telehealth also became popular for consultation with dieticians and recommendation of appropriate medical foods.

Looking ahead, the focus is on developing specialized formulas targeted at long COVID and its multi-system effects. Research is ongoing to better understand nutrient deficiencies caused by COVID and design medical foods to address them. Companies will need to strengthen omnichannel presence and forge partnerships with hospitals, insurers as well as healthcare providers to cater to long term needs of recovered patients. Ensuring adequate production capacity and supply resilience will be crucial for sustaining growth in the post pandemic scenario.

Geographical Concentration in the U.S. Medical Foods Market

In terms of value, the western region accounts for the largest share in the U.S.Medical Foods Market Demand  currently. States like California, Washington and Colorado have witnessed higher uptake of prescribed dietary therapies and medical nutrition due to rising health consciousness. Growth in the western region is driven by affluence, early adoption of innovative products and strong healthcare infrastructure. The presence of major medical food manufacturers and suppliers in western states has made these products highly accessible as well.

Fastest Growing Region in the U.S. Medical Foods Market

The southern region, comprising states such as Texas, Florida and Georgia, is poised to be the fastest growing market for medical foods over the next decade. This is because of rapidly expanding medicare eligible senior population base, increasing prevalence of chronic and lifestyle diseases, and favorable reimbursement policies for nutritional management under medicaid programs in these states. Continuous migration towards southern cities coupled with growing healthcare expenditure per capita will propel higher consumption of medical foods across hospitals, pharmacies and retail channels in the region.

For more insights, read- U.S. Medical Foods Market

Check more trending articles related to this topic: Global Panic Attack Treatment Market


collect
0
avatar
Poonam
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more