U.S. Medical Foods Market Expected To Garner High Growth |...

U.S. Medical Foods Market Expected To Garner High Growth

Posted 2024-02-01 11:52:11

Market Dynamics:

The U.S. Medical Foods market is expected to witness high growth owing to increasing prevalence of metabolic disorders such as phenylketonuria (PKU), multiple sclerosis, and other rare diseases. As per National Institutes of Health (NIH), PKU afflicts around 350,000-400,000 individuals worldwide. Medical foods are especially designed to fulfill the specific nutritional requirements of metabolic disorders and are essential for disease management. Additionally, growing awareness among patients and healthcare professionals regarding medical nutrition therapy and personalized nutrition is further amplifying market growth. Moreover, favorable reimbursement policies and new product launches by market players is also anticipated to boost the U.S. medical foods market over the forecast period. However, stringent regulatory guidelines and high costs associated with medical foods can hamper market growth.

SWOT Analysis

Strength: The U.S. medical foods market has seen rapid advancement in technology which has led to development of novel and effective medical foods. There is widespread availability of various types of medical foods catering to different disease conditions. Growing disease prevalence has increased demand for specialized medical nutrition in the country.

Weakness: High costs associated with research and development of new medical foods limits their affordability and accessibility. Educational barriers exist regarding appropriate use of medical foods by healthcare professionals and patients.

Opportunity: Rising geriatric population prone to chronic diseases offers potential for medical food sales growth. Developing new formulations for uncommon and rare conditions expands treatable patient populations. Telehealth and e-commerce platforms can boost delivery and sale of medical foods.

Threats: Stringent regulatory approvals pose delays in market launch of innovative products. Shift toward alternative treatment options may reduce reliance on medical nutrition therapy in future. Privacy and security risks from digital healthcare systems threaten consistent supply chain of some medical foods.

Key Takeaways

The Global U.S. Medical Foods Market Size is expected to witness high growth over the forecast period of 2024 to 2031 supported by rising prevalence of chronic metabolic diseases.

The regional analysis shows that western and southern U.S. regions currently dominate the market due to high healthcare investments and concentration of major players. The adoption of telehealth services is growing rapidly in these regions which will expand access to medical nutrition programs.

Key players operating in the U.S. medical foods market are Magellan, Medipost Co., Ltd, Osiris Therapeutics, Inc., Kolon TissueGene, Inc., JCR Pharmaceuticals Co., Ltd., Anterogen Co. Ltd., Pharmicell Co., Inc., and Stemedica Cell Technologies, Inc. These leading companies are focusing on new product launches, acquiring smaller players and entering strategic partnerships to strengthen their positions in disease specific segments.

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