DUBLIN, May 31, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Medical Foods Market Analysis By Route Of Administration, By Product Type, By Application Type (Diabetic Neuropathy, [ADHD], Depression, Alzheimer's Disease, Nutritional Deficiency), And Segment Forecasts, 2014 - 2025" report to their offering.
The global medical foods market is expected to reach a value of USD 24.4 billion by 2025
The medical foods market is anticipated to grow at a CAGR of 6.9% over the forecast period. The key factors supporting expansion include the growing awareness about medical foods, improvement in patient healthcare outcomes, rise in prevalence of several chronic diseases, increase in malnutrition, and continuous innovation.
The use of medical foods to assist the patients during the treatment of chronic diseases has been a prevalent practice. However, lack of awareness about the proper usage, quality concerns, and overlapping claims about benefits associated due to the usage of medical foods have restricted the growth of medical foods market.
The difference between functional foods, dietary supplements, and medical foods is still not clear for several healthcare practitioners. Therefore, errors in prescription or use of substitute products is a major trend observed in the market. Furthermore, the regulatory uncertainty pertaining to the classification of medical foods as a separate category has also affected the market growth.
The prevalence of chronic diseases such as diabetic neuropathy, Alzheimer's, Attention Deficit Hyperactivity Disorder (ADHD), and several metabolic diseases is increasing rapidly The risk of neuropathy significantly increases with increase in age, changes in diet, and adoption of an unhealthy lifestyle. Some of the symptoms usually associated with neuropathy include numbness, tingling, and pain in the feet, arms, & legs. Furthermore, some of the key products used to treat this condition include Percura capsules, METANX, and Foltanx.
The growing number of patients with Alzheimer's disease is also increasing rapidly. As per the estimates published by the Alzheimer's Society, in the U.S., an estimated 5.4 million Americans across all ages are suffering from this disease. On further analysis of the data, it is observed that nearly 5.2 million people are aged 65 and above. Thus, rise in the geriatric population is also a major factor driving the medical foods market.
Further Key Findings from the Study Suggest:
- In 2015, oral route held the highest share as majority of the products are administered through the oral feeding
- In 2015, powders category accounted for nearly 79% of the market share
- In 2015, diabetic neuropathy was the largest application with a share of 34.3% owing to growing awareness about nutritional requirements during the treatment of chronic diseases
- Asia Pacific is expected to lead the growth with a CAGR of 7.8% from 2016 to 2025
- Some of the key players are Danone; Nestlé; Abbott; Targeted Medical Pharma Inc.; Primus Pharmaceuticals Inc.; Mead Johnson & Company, LLC.; and Fresenius Kabi AG.
Key Topics Covered:
1 Research Methodology
2 Executive Summary
3 Medical Foods Market Variables, Trends & Scope
3.1 Market Segmentation & Scope
3.2 Market Driver Analysis
3.2.1 Growing prevalence of cancer
3.2.2 Increasing prevalence of chronic diseases
3.3 Market Restraint Analysis
3.3.1 Lack of awareness
3.3.2 Uncertainty in regulatory framework
3.4 Penetration & Growth Prospect Mapping
3.5 Medical Foods Market- SWOT Analysis, By Factor (Political & Legal, Economic & Technological)
3.6 Industry Analysis - Porter's
4 Medical Foods: Route of Administration Estimates & Trend Analysis
4.1 Medical Foods Market: Route of Administration Movement Analysis
5 Medical Foods: Product Estimates & Trend Analysis
5.1 Medical Foods Market: Product Movement Analysis
6 Medical Foods: Application Estimates & Trend Analysis
6.1 Medical Foods Market: Application Movement Analysis
6.2 Diabetic Neuropathy
6.5 Alzheimer's Disease
6.6 Nutritional Deficiency
7 Medical Foods: Regional Estimates & Trend Analysis, by Route of Administration, Product, and Application
8 Competitive Landscape
- Targeted Medical Pharma
- Primus Pharmaceuticals Inc.
- Fresenius Kabi AG
- MEIJI HOLDING AND CO.
- Mead Johnson & Company, LLC;
- VICTUS, INC.
For more information about this report visit http://www.researchandmarkets.com/research/v3q63c/medical_foods
Research and Markets
Laura Wood, Senior Manager
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
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716