Global Medical Foods For Orphan Diseases Market Growth Drivers 2024, Forecast To 2033
8 Mar, 2024
The medical foods for orphan diseases market has exhibited strong growth, rising from $1.24 billion in 2023 to $1.33 billion in 2024, with a CAGR of 7.3%. This growth is attributed to factors such as orphan drug designation and research advances. Forecasts suggest continued strong growth to $1.7 billion by 2028, with a CAGR of 6.3%, driven by telemedicine adoption and emerging technologies in food science. Major trends include disease-specific formulations and focus on gut microbiome, alongside educational programs and nutritional supplements innovation.
Global Medical Foods For Orphan Diseases Market Key Driver
The rising incidence of orphan diseases is anticipated to drive the growth of the medical foods for orphan diseases market. Orphan diseases, also known as rare diseases, affect a small portion of the population and require specialized nutritional support. For example, in January 2023, non-Hodgkin lymphoma, a rare disease, accounted for approximately 4% of cancer cases in the United States, with an estimated 80,550 new diagnoses. Additionally, the prevalence of idiopathic pulmonary fibrosis (IPF) has been increasing steadily, reaching 36 cases per 100,000 people in 2021. This upward trend in orphan diseases contributes to the expansion of the medical foods market, catering to the unique nutritional needs of affected individuals.
Get A Free Sample Of The Global Medical Foods For Orphan Diseases Market ReportGlobal Medical Foods For Orphan Diseases Market Segments
The medical foods for orphan diseases market covered in this report is segmented –
1) Product:Pills, Powder, Liquid, Other Products
2) Route of Administration:Oral, Enteral
3) Applications:Phenylketonuria, Tyrosinemia, Eosinophilic esophagitis, Food Protein-Induced Enterocolitis Syndrome (FPIES), Maple Syrup Urine Disease (MSUD), Homocystinuria, Other Applications
4) Sales Channel:Online Sales, Institutional Sales, Retail Sales
By Geography: The countries covered in the medical foods for orphan diseases market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the medical foods for orphan diseases market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical foods for orphan diseases market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Medical Foods For Orphan Diseases Industry Players
Nestle S.A.; Johnson & Johnson; Abbott Laboratories Inc.; Danone S.A.; Reckitt Benckiser Group plc.; Ajinomoto Co. Inc.; Meiji Holdings Co. Ltd.; Fresenius Kabi AG; BioMarin Pharmaceutical Inc.; Mead Johnson & Company LLC; Halyard Health; Alfasigma spA; Ultragenyx Pharmaceutical Inc.; Immedica Group AB; Vitaflo International Ltd.; Leadiant Biosciences Inc.; Alcresta Therapeutics Inc.; Marinus Pharmaceuticals Inc.; Cambrooke Therapeutics Inc.; Primus Pharmaceuticals Inc.; Relief Therapeutics Holding AG; CANbridge Pharmaceuticals Inc.; Ajinomoto Cambrooke Inc.; Cerecin Inc.; AMNIOX Medical Inc.; Targeted Medical Pharma Inc.; Solace Nutrition LLC; Orphan Therapeutics LLC; Metagenics Inc.; Farma Genetics Inc.
Get The Full Global Medical Foods For Orphan Diseases Market Report
Medical Foods For Orphan Diseases Market Overview
Medical foods for orphan diseases refer to specialized nutritional products specifically formulated to meet the unique dietary needs of individuals affected by rare, genetic, or orphan diseases. These foods are used by patients suffering from rare orphan diseases.