The Medical Foods For Orphan Diseases Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Medical Foods For Orphan Diseases Global Market Report 2024, The medical foods for orphan diseases market size has grown strongly in recent years. It will grow from $1.24 billion in 2023 to $1.33 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to orphan drug designation, research & development advances, government funding & grants, regulatory frameworks, improved diagnosis.
The medical foods for orphan diseases market size is expected to see strong growth in the next few years. It will grow to $1.7 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to telemedicine and remote monitoring, healthcare system integration, emerging technologies in food science, precision nutrition, increased patient demand. Major trends in the forecast period include long-term efficacy studies, disease-specific formulations, education and training programs, focus on gut microbiome, nutritional supplements innovation.
The rising incidence of orphan diseases is expected to propel the growth of medical foods for the orphan diseases market going forward. Orphan disease, also known as a rare disease, is a medical condition that affects a relatively small number of individuals within a population. Medical foods are used to manage several orphan disorders to complete the specialized nutrition requirements of the patients. Hence, the rising incidence of orphan diseases contributes to the growth of the medical foods for orphan diseases market. For instance, in January 2023, according to the American Cancer Society, a US-based voluntary health organization, non-Hodgkin lymphoma, a rare disease, was one of the most common types of cancer in the United States and accounted for approximately 4% of cancer cases in 2023 where about 80,550 new diagnoses were estimated for 2023. Furthermore, in September 2022, according to a research study published by the National Library of Medicine, a US-based online medical library, the prevalence of idiopathic pulmonary fibrosis (IPF) was 36 per 100,000 people in 2021, and it has been increasing since 2016. Therefore, the increasing prevalence of orphan diseases is driving the medical foods for orphan diseases market.
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The medical foods for orphan diseases market covered in this report is segmented –
1) By Product: Pills, Powder, Liquid, Other Products
2) By Route of Administration: Oral, Enteral
3) By Applications: Phenylketonuria, Tyrosinemia, Eosinophilic esophagitis, Food Protein-Induced Enterocolitis Syndrome (FPIES), Maple Syrup Urine Disease (MSUD), Homocystinuria, Other Applications
4) By Sales Channel: Online Sales, Institutional Sales, Retail Sales
Product innovations are a key trend gaining popularity in the medical foods for orphan diseases market. Major companies operating in the medical foods for orphan diseases market are introducing innovative products to sustain their position in the market. For instance, in October 2022, Relief Therapeutics, a Switzerland-based biopharmaceutical company, launched PKU GOLIKE. It is a next-generation medical food product engineered with the company's patented Physiomimic Technology platform for the dietary management of phenylketonuria (PKU), a rare inherited disorder. PKU GOLIKE is the first prolonged-release amino acid product, characterized by a special coating that ensures physiological absorption of the amino acids while masking the unpleasant taste, odor, and aftertaste of the amino acids. It is a phenylalanine-free food intended for special medical purposes (FSMP) in the United States.
The medical foods for orphan diseases market report table of contents includes:
1. Executive Summary
2.Medical Foods For Orphan Diseases Market Characteristics
3. Medical Foods For Orphan Diseases Market Trends And Strategies
4. Medical Foods For Orphan Diseases Market analysis
5. Medical Foods For Orphan Diseases Market Size And Growth
6. Medical Foods For Orphan Diseases Segmentation
7.Medical Foods For Orphan Diseases Regional And Country Analysis
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27. Medical Foods For Orphan Diseases Competitive Landscape And Company Profiles
28. Medical Foods For Orphan Diseases Key Mergers And Acquisitions
29. Medical Foods For Orphan Diseases Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Nestle S.A.
- Abbott
- Johnson & Johnson
- Laboratories Inc.
- Danone S.A.
- Reckitt Benckiser Group plc.
- Ajinomoto Co.
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