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The global medical foods industry is being driven by the increased incidences of chronic diseases. The increased demand for medical foods to aid in the treatment of severe illnesses, including cardiovascular diseases and cancer, among others, is anticipated to bolster the market growth in the coming years. In addition, the increase in health issues due to sedentary lifestyles is also expected to aid the market growth. Moreover, the rising awareness pertaining to the availability of medical foods and the escalating consciousness regarding health and well-being among consumers are predicted to positively impact the market growth in the forecast period.
The rising demand for effective medical food solutions is compelling manufacturers to increasingly invest in the development of quality medical foods that can enhance the overall physical health of consumers. This is anticipated to aid the market growth in the coming years. For instance, in November 2020, Abbott Nutrition (NYSE: ABT) announced the launch of Similac Pro-Advance with 2'-Fucosyllactose Oligosaccharide infant formula in Canada. This formula comprises ingredients identical to the immune component found in breast milk. This formula is expected to help provide nutrition and enhance the immune system of babies who are not being fed exclusively on breastmilk. Moreover, the presence of essential prebiotics in the formula is believed to help in improving baby's digestive health. Such developments are expected to positively impact the growth of the medical foods industry in the forecast period.
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The major players in the global medical foods market are Danone S.A, Nestle S.A, Abbott Nutrition, Targeted Medical Pharma Inc., Primus Pharmaceuticals, Inc., and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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