North America Medical Foods Market Size & Outlook
North America medical foods market, 2018-2030 (US$M)
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North America medical foods market highlights
- The North America medical foods market generated a revenue of USD 7,054.8 million in 2023.
- The market is expected to grow at a CAGR of 5.8% from 2024 to 2030.
- In terms of segment, oral was the largest revenue generating route of administration in 2023.
- Enteral is the most lucrative route of administration segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 7,054.8 million |
| Market revenue in 2030 | USD 10,474.1 million |
| Growth rate | 5.8% (CAGR from 2023 to 2030) |
| Largest segment | Oral |
| Fastest growing segment | Enteral |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Oral, Enteral |
| Key market players worldwide | Danone SA, Nestle SA, Fresenius SE & Co KGaA, Abbott Laboratories, Targeted Medical Pharma Inc, Mead Johnson Nutrition, Primus Pharmaceuticals |
Other key industry trends
- In terms of revenue, North America region accounted for 29.9% of the global medical foods market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 9,937.0 million by 2030.
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Medical Foods Market Scope
Medical Foods Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
North America medical foods market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to medical foods market will help companies and investors design strategic landscapes.
Oral was the largest segment with a revenue share of 70.21% in 2023. Horizon Databook has segmented the North America medical foods market based on oral, enteral covering the revenue growth of each sub-segment from 2018 to 2030.
North American region includes the U.S. and Canadian markets. This region has a large geriatric population, chronic disease burden, and high public & private expenditures on healthcare. Increasing preference for home-based enteral therapy has resulted in lesser number of patient visits to hospitals and clinics.
Such factors signify the rising prevalence of malnutrition, thereby fueling market growth. As per research published in the Jo rnal of Parenteral and Enteral N trition’s s pplement iss e, in collaboration with Abbott, 80% of total cost related to malnutrition was due to chronic obstructive pulmonary disease, depression, dementia, and coronary heart diseases.
For instance, in January 2017, Alfasigma, an Italian company, acquired Pamlab, a U.S. medical foods company, to strengthen its operations in the U.S. Similarly, in April 2019, Nutrasource entered into a strategic partnership with Greene Concepts, Inc., a leader in the formulated beverages industry.
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Target buyers of North America medical foods market databook
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Our clientele includes a mix of medical foods market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America medical foods market , including forecasts for subscribers. This continent databook contains high-level insights into North America medical foods market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America medical foods market size, by country, 2018-2030 (US$M)
North America Medical Foods Market Outlook Share, 2023 & 2030 (US$M)
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