Increasing incidence and prevalence of Crohn's disease projected to boost the growth of U.S. Medical Foods Market

Sneha

Increasing incidence and prevalence of Crohn's disease projected to boost the growth of U.S. Medical Foods Market

The global U.S. Medical Foods Market is estimated to be valued at US$ 22328.51 Mn in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:-

Medical foods are intended for the dietary management of a disease or condition that manifests physical or mental impairments. They are formulated to be consumed or administered under the supervision of a physician and are designed to meet the distinctive nutritional requirements of a disease or health condition. Medical foods contain ingredients like proteins, fats, vitamins, minerals, prebiotics, and probiotics that help manage the nutritional needs of patients with specific diseases or health conditions such as metabolic disorders, gastrointestinal diseases, and Alzheimer's disease. They play an important role in disease management as improper nutrition can adversely affect treatment outcomes.

Market key trends:-

One of the key trends in the U.S. medical foods market is the increasing incidence and prevalence of gastrointestinal diseases like Crohn's disease in the country. According to the Crohn's & Colitis Foundation, approximately 3 million Americans suffer from inflammatory bowel disease (IBD), which includes Crohn's disease and ulcerative colitis. Medical foods play a significant role in reducing inflammation and symptoms, improving nutritional status, and maintaining remission in IBD patients. Hence, the rising disease burden is expected to drive the demand for specialized medical foods for gastrointestinal conditions over the forecast period.

Porter's Analysis:-

Threat of new entrants: The threat of new entrants in the U.S. medical foods market is moderate as the market requires a significant capital investment and established distribution channels. However, new products can be developed targeting specific diseases.
Bargaining power of buyers: The bargaining power of buyers in the U.S. medical foods market is high due to the presence of many established players providing alternatives. Buyers can negotiate on price and demand quality products.
Bargaining power of suppliers: The bargaining power of suppliers in the U.S. medical foods market is moderate due to the availability of raw material sources. However, suppliers may demand higher prices or provide lower quality to capture more profits.
Threat of new substitutes: The threat of new substitutes in the U.S. medical foods market is high due to the availability of alternative treatment options and nutraceuticals for the management of various diseases.
Competitive rivalry: The competitive rivalry in the U.S. medical foods market is high due to the presence of many established players.

Key Takeaways:-

The Global U.S. Medical Foods Market Size is expected to witness high growth, exhibiting 17% CAGR over the forecast period, due to increasing incidence and prevalence of Crohn’s disease.

Regional analysis:-

The Midwest region dominates the U.S. medical foods market owing to the increasing elderly population suffering from chronic diseases in states like Illinois, Michigan and Ohio. The western region is also projected to grow significantly in the forecast period due to growing health awareness.

Key players:-

Key players operating in the U.S. medical foods market include Nestle, Danone, Abbott, Targeted Medical Pharma, Primus Pharmaceuticals, Mead Johnson & Company, and Fresenius Kabi AG. Nestle and Danone capture majority of the market share due to their diversified product portfolios and strong distribution network across the country.

Sneha

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