Medical foods are specially formulated and intended for the dietary management of a disease or condition and their nutritional requirements. Medical foods are generally used under medical supervision. This allows for precise blending of nutrients tailored to the metabolic needs of patients with specific disease states. The growing prevalence of chronic and lifestyle associated diseases such as diabetes, cardiovascular diseases, cancer and neurological disorders has raised awareness about specialty nutrition products which aid in clinical management of such conditions.

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 Opportunity:

The opportunity of increased clinical applications presents lucrative prospects for growth of the U.S. medical foods market. With growing research validating effectiveness of medical foods in management of various diseases, the scope of clinical applications for these specialty products is expanding. Many medical foods are now prescribed as an adjunct to pharmaceutical medications for conditions like diabetes, Alzheimer's disease, hepatological disorders etc. The targeted delivery of nutrients helps alleviate symptoms and supports recovery. This is expected to drive increased adoption among healthcare professionals and patients. With continued approval for new indications, the market opportunity for medical foods in disease management is projected to rise significantly over the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate due to the stringent regulations and standards required to establish in the medical foods market in the US. However, established companies can enter new product segments with their brand value and distribution channels.

Bargaining power of buyers: The bargaining power of buyers like retailers, healthcare facilities and individual consumers is high due to the availability of substitutes and dependency on medical insurance for purchase. Buyers can negotiate on price and demand promotional offers.

Bargaining power of suppliers: The bargaining power of suppliers like ingredients manufacturers and contract manufacturers is moderate due to the differentiated products and regulated supply chain for medical foods. Suppliers have to meet quality and safety standards.

Threat of new substitutes: The threat of new substitutes like pills, supplements and nutraceuticals is high as they provide similar health benefits and are available over the counter. Customers may switch to lower cost alternatives.

Competitive rivalry: The competitive rivalry is high due to the presence of many global and regional players offering similar types of products. Players compete on brand value, innovation, quality, promotions and customer service.

SWOT Analysis

Strengths: High demand for specialized medical nutrition therapy. Stringent regulations ensure quality and efficacy. Established brand names inspire trust.

Weaknesses: High research and production costs. Supply chain complexities increase expenses. Limited consumer awareness about applications and benefits.

Opportunities: Growth in aging population and chronic diseases. Rising healthcare expenditures create market potential. Scope for new product innovation tailored to conditions.

Threats: Stiff competition from nutraceuticals and supplements. Economic slowdowns can reduce discretionary spending. Stringent regulations delay product launches.

Key Takeaways

The U.S. Medical Foods Market Size is projected to witness high growth during the forecast period due to the increasing incidence of chronic and degenerative diseases. The aging population in the country also drives the demand for dietary management in disease treatment. 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.

Western region currently dominates the U.S. market due to higher healthcare spending and growing health consciousness. States like California and Washington are major markets with increasing uptake of specialized nutrition products.

Key players operating in the U.S. medical foods market are Enterome SA, Yakult Honsha Co., Ltd., Abbott, ExeGi Pharma, LLC, VSL Pharmaceuticals, Inc., Entera Health, Inc., Meiji Holdings Co., Ltd., Danone. Players focus on new product development, partnerships, and expanding into fast growing segments like medical nutrition therapy and pediatric nutrition.

For more insights, Read- https://www.insightprobing.com/u-s-medical-foods-market-size-and-share/