Changing lifestyle to improve consumption of oral medicine
United States, Rockville MD, June 21, 2022 (GLOBE NEWSWIRE) — According to a recently published Fact.MR study, the Asia-Pacific medical food market is expected to grow at a CAGR of 6.5% from 2022 to 2032, reaching the US dollar 11 billion. As of 2022, the market is expected to reach a valuation of US$5.8 billion. Rapid urbanization and high disease burden, coupled with the massive impact of the pandemic on people’s health, have increased the adoption of medical foods. This in turn has led to the growth of the industry.
From 2017 to 2021, the market medical food demand in asia pacific increased at a value CAGR of approximately 6%, concluding at US$5.5 billion. Rising global awareness of medical power supply has significantly boosted the growth of the market in recent years. The markets of China and South Korea are seeing massive adoption of medical foods and the demand for them is steadily increasing.
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Instead, countries are speeding up processes for more imports and also investing in their portfolios to expand in the regional market. The market for medical foods for specific rare diseases is gaining momentum and is a priority for registration by governments.
Medical foods are tailor-made liquid solutions that are only intended to cure people with various disorders. Due to nutritional insufficiency across the globe, which is a global problem, the demand for medical foods is increasing moderately. Also, as people become more aware of nutritional benefits, medical foods will become more popular.
Which product type segment is expected to lead the Asia Pacific Medical Food market?
The powders segment held the largest market share of 35.4% in 2021. Greater product availability and longer shelf life of this type of product has driven the growth of this segment. The product portfolios of all the major players in the industry mainly consist of powder formulations and are a key driver for a significant share of revenue.
Liquid product type is expected to register the fastest CAGR during the forecast period. The expansion of product portfolios by medical food players is a key factor contributing to the rapid growth of this segment. The ease of use of liquid formulations for infants as well as adults is also a key factor contributing to the growth of the segment.
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Key segments covered by the Asia-Pacific Medical Foods Industry survey
- Asia-Pacific Medical Food Market by Administration:
- Oral medical foods
- Enteric medical foods
- Asia-Pacific Medical Food Market by Product Type:
- Medical food pills
- Medical food powders
- Other types of medical food products
- Asia-Pacific Medical Food Market by Application:
- Chronic kidney disease
- Minimal hepatic encephalopathy
- Chemotherapy-induced diarrhea
- Infections linked to pathogens
- Diabetic neuropathy
- The Depression
- Alzheimer’s disease
- nutritional deficiency
- Orphan diseases
- Wound healing
- Chronic diarrhea
- Constipation relief
- protein booster
- Other diseases
- Asia-Pacific Medical Food Market by Sales Channel:
- Online sales
- Retail sales
- Institutional sales
Major medical food manufacturers are emphasizing technological innovations to introduce safe and secure medical products. Major manufacturers incorporate several marketing tactics such as using different sales channels and resorting to mergers and acquisitions to expand their market size. Some key developments are:
- In June 2021, Primavera Capital Group (“Primavera”) announced that it had signed a definitive agreement with Reckitt Benckiser Group plc, a global leader in consumer health, nutrition and hygiene, to acquire the business of the Grande China from Mead Johnson Nutrition Company, a world leader in infant formula, and Nutrition Company owned by Reckitt.
- In May 2022, Nestlé Health Science, a business unit of Nestlé SA, agreed to acquire Puravida, a Brazilian nutrition and lifestyle brand that manufactures and markets applications such as drink mixes, protein powders, nutritional bars and snacks based in São Paulo. Terms of the contract were not disclosed.
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The key players in the Asia-Pacific Medical Foods Market
- Mead Johnson
- SHS International Ltd.
- Synutra International Ltd.
- Milupa Gmbh
- Fresenius Kabi AG
- GlaxoSmithKline PLC
Main takeaways from Asia-Pacific Medical Foods Market research
- Based on sales channel, the institutional segment captured the largest share of over 40% over the projected period.
- By product type, the oral segment is expected to grow at a CAGR of 6.7% and contribute nearly 35% to regional revenue during the forecast period.
- Chemotherapy-induced diarrhea held the largest market share of 15.2% in 2021.
- Japan will offer a $1.8 billion dollar opportunity with a CAGR of 6.5%
- China and India will thrive at CAGRs of 6.5% and 6.4% respectively through 2032
More valuable information
Fact.MR, in its new offering, presents an unbiased analysis of the global Asia-Pacific medical food market, showcasing historical analysis from 2016 to 2021 and forecast statistics for the period 2022-2032.
The study reveals essential information based on Asia Pacific Medical Foods by Route of Administration Outlook (Oral, Enteral) by Product type (Pills, Powders, Others) by Application Outlook (Chronic Kidney Disease, Minimal Hepatic Encephalopathy, Chemotherapy-Induced Diarrhoea, Pathogen Related Infections, Diabetic Neuropathy, ADHD, Depression, Alzheimer’s Disease, Nutritional Deficiency, Orphan Diseases, Wound Healing, Chronic Diarrhea, Constipation Relief, Protein Recall, Dysphagia, Other Diseases) by Sales Channel Insights ( online sales, retail sales, institutional sales) by Country (Japan, China, India, Singapore, South Korea).
Knowledge of Fact.MR domain in Food and drinks
Expert analysis, actionable insights, and strategic recommendations from Fact.MR’s highly experienced Food & Beverages team help clients around the world meet their unique business intelligence needs.
With a repository of over a thousand reports and over a million data points, the team has analyzed the Food & Beverages division in over 50 countries for over a decade. The team provides unparalleled end-to-end research and advisory services.
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