U.S. Medical Foods Market, by Food Type (Prebiotics, Probiotics, and Food Supplements), by Disease Indication (Inflammatory Bowel Disease, Irritable Bowel Syndrome, and Others), and by Distribution Channel (Hospitals, Retail Channel, and Online Channel) is estimated to be valued at US$ 19,067.9 Million in 2022 and is expected to exhibit a CAGR of 17.1 % during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Key players are focusing on inorganic strategies like acquisition, in order to expand their market share. For instance, on June 29, 2022, Nestlé Health Science, a company involved in field of nutritional science, announced the acquisition of The Better Health Company (TBHC), a company manufacturing naturally sourced health supplements, to expand their reach to untapped regions such as New Zealand, Australia, China, Singapore, South Korea, and Vietnam.
U.S. Medical Foods Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic is boosting growth of market and is projected to drive the growth in the coming years. Moreover, owing to the rising burden on critical care services due to the pandemic, demand for nutritional support and dietetic care is rising, thereby propelling the market growth, penetration, and adoption of medical foods. Hence, the COVID-19 pandemic is projected to fuel growth of market during the forecast period.
U.S. Medical Foods Market: Key Developments
For instance, in October 2020, Nestle Health Science, a company involved in field of nutritional science, launched protein-based ready-to-drink nutritional food in China for special medical purposes (FSMPs). The main component of this drink is a galactomannan, a highly soluble dietary fiber, which can improve and prevent gastrointestinal intolerance and diarrhea.
Browse 27 Market Data Tables and 31 Figures spread through 102 Pages and in-depth TOC on “U.S. Medical Foods Market”- Forecast to 2030, U.S. Medical Foods Market, by Food Type (Prebiotics, Probiotics, and Food Supplements), by Disease Indication (Inflammatory Bowel Disease, Irritable Bowel Syndrome, and Others), and by Distribution Channel (Hospitals, Retail Channel, and Online Channel)
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https://www.coherentmarketinsights.com/market-insight/us-medical-foods-market-3215
Moreover, increase in the product launches by key market players is expected to drive growth of market. In addition, in June 2018, VAYA Pharma, Inc., a consumer goods company that manufactures nutritional ingredients, introduced Vayarin Plus, an extra-strength formula, and expanded its medical food product offerings, which offer clinical dietary management for ADHD (Attention deficit hyperactivity disorder) adults weighing more than 97 lbs and in adolescents.
Key Takeaways of the U.S. Medical Foods Market:
- S. Medical Foods market is expected to exhibit a CAGR of 17.1% during the forecast period (2022-2030), owing to the increase in the strategies like acquisition by key market players, which is expected to drive growth of market for the forecast period. For instance, in August 2020, Nestle Health Science, a company involved in field of nutritional science, announced acquisition of IM Health Science, a company that develops products to address overall health and wellness of people, to expand its medical food portfolio.
- Among food type, probiotic segment held a largest market share, owing to rising demand for medical foods and increasing presence of market players in the U.S., which is expected to propel growth of the probiotic market in the U.S. medical foods market over the forecast period
- Major players operating in the U.S. Medical Foods market include Enterome SA, Yakult Honsha Co., Ltd., Abbott, ExeGi Pharma, LLC, VSL Pharmaceuticals, Inc., Entera Health, Inc., Meiji Holdings Co., Ltd., Danone, and Nestlé S.A.
