The global medical foods market generated a revenue of $billion in 2013. It is estimated to grow at a CAGR of % to reach $ billion in 2018.
Increasing number of disease targets, increasing healthcare expenditure, and increasing public health consciousness are likely to be the key drivers for market growth. A poor regulatory environment and low medical adherence among patients restrain market growth.
The market is well-consolidated with the top participants accounting for about %– % of the market. Increasing merger and acquisition (M&A) activities are set to impact the market dynamics.
A robust R&D set-up, regional product differentiation, and focus on product innovation are the key competitive factors in the Asia-Pacific (APAC) medical foods market.
The APAC market (including Australia, New Zealand, and Southeast Asia) still accounts for a very small share of the global medical foods market. Considering the region’s population and disease prevalence rates, this region continues to have a significant growth potential.
Diabetes, oncology, and metabolic health are the most significant application areas in the APAC region, while immune health and cardiovascular health are promising applications for future growth.
Different growth factors have been evaluated for their significance in market growth and product-related trends have been identified to have the highest impact, followed by promotional efforts by medical food manufacturers.
The pricing and product functionality of medical foods are largely influenced by the ingredients. Nutritional proteins and nutritional lipids account for a majority of the revenue of the ingredients market for APAC medical foods.
About this report
This research service provides an insight into the global medical foods market, with specific focus on the APAC region. Drivers, restraints, industry challenges, competitive landscape, and market trends are discussed. Estimates and forecasts for the global market are provided. The APAC market is also discussed in detail with estimates and market forecasts, along with an assessment of the growth factors for the market. The study also outlines the market for top ingredients used in medical foods in the APAC region.
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