South Korea Medical Foods Market Size & Outlook, 2023-2030
South Korea medical foods market, 2018-2030 (US$M)
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South Korea medical foods market highlights
- The South Korea medical foods market generated a revenue of USD 687.9 million in 2023 and is expected to reach USD 1,040.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6.1% 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.
Medical foods market data book summary
| Market revenue in 2023 | USD 687.9 million |
| Market revenue in 2030 | USD 1,040.3 million |
| Growth rate | 6.1% (CAGR from 2023 to 2030) |
| Largest segment | Oral |
| Fastest growing segment | Enteral |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, South Korea accounted for 2.9% of the global medical foods market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China medical foods market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,773.0 million by 2030.
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Medical Foods Market Scope
Medical Foods Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea 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 82.8% in 2023. Horizon Databook has segmented the South Korea medical foods market based on oral, enteral covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea has a large elderly population, thus the need for clinical nutrition and enteral feeding is high. For instance, as per the report by Statistics Korea, the number of people aged 65 and above reached 8.53 million, accounting for 16.5% of the total population in South Korea.
Moreover, increase in the incidence of head and neck cancer is another major factor driving growth of medical nutrition market in the country. For instance, according to a study published in nature in 2021, cancer is the leading cause of death in South Korea.
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Target buyers of South Korea 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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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea medical foods market , including forecasts for subscribers. This country databook contains high-level insights into South Korea medical foods market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
South Korea medical foods market size, by route of administration, 2018-2030 (US$M)
South Korea Medical Foods Market Outlook Share, 2023 & 2030 (US$M)
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