- Adoption of healthy alternatives by a large populace in their day-to-day life and the increasing incidence of chronic diseases may invite great growth opportunities for the medical foods market during 2020-2030
- The global medical foods market is estimated to expand at a CAGR of ~6 percent between 2020 and 2030
ALBANY, N.Y., Sept. 3, 2020 /PRNewswire/ -- Medical foods prove to be therapeutic for a plethora of disorders. Chronic diseases are expanding on a large scale across the globe. Therefore, the use of medical foods for treating numerous diseases and disorders may bring exponential growth opportunities for the medical foods market.
Based on the exhaustive research conducted by the analysts at Transparency Market Research, the global medical foods market is expected to record a CAGR of ~6 percent during the forecast period of 2020-2030. The global medical foods market was valued at US$ 18 bn in 2018 and may reach a valuation of ~US$ 33.3 bn by 2030.
Diabetes and other disorders are at an all-time high and are spread across a large populace. This aspect may prove to be a boon for the growth of the medical foods market. Furthermore, overwhelming demand from the geriatric population may serve as a robust pillar of growth for the medical foods market.
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Medical Foods Market: From Analysts' Lens
The analysts at Transparency Market Research (TMR) predict positive growth for the medical foods market in the coming months as the impact of COVID-19 may subside after a certain period. The analysts further shed light on the growing number of mergers and acquisitions among the players in the medical foods market to expand their global outreach.
The analysts advise the manufacturers in the medical foods market to conduct randomized and placebo-controlled clinical trials using medical foods to gain approval from regulatory authorities.
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Medical Foods Market: Key Revelations
Explore 188 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into Medical Foods Market (Product Type: Pills, Powder, Liquid, and Others; Application: Diabetes, Cancer, Neurological & Psychological Disorders, Metabolic Disorders, Pain Management, Gastrointestinal Disorders, Ophthalmology, and Others; and Distribution Channel: Pharmacies & Drug Stores, Online Channels, Supermarkets & Hypermarkets, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030 at https://www.transparencymarketresearch.com/report-toc/45447
Medical Foods Market: Growth Boosters
The launch of novel products and the rising influence of varied diseases and disorders may invite tremendous growth prospects for the medical foods market.
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Medical Foods Market: S.W.O.T (Strengths. Weaknesses. Opportunities. Threats) Analysis
Strengths: Heightening popularity of medical foods as a means of nutrition for curing diverse diseases and disorders is the strength of the medical foods market.
Weaknesses: Health claims made by various players for the commercialization of products forms the crux of growth. However, the pressure of truthful and non-misleading health claims can weaken the growth rate of the medical foods market to a great extent.
Opportunities: The rising awareness about clinical nutrition through various government and non-government campaigns and initiatives may serve as a prominent growth opportunity for the medical foods market.
Threats: The absence of systematic guidelines and regulations for medical foods enables easy entry of players but the authenticity of the product can be questionable, eventually proving a threat to the growth of the medical foods market.
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Global Medical Foods Market: Segmentation
By Product Type
By Distribution Channel
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