Medical Foods for Orphan Diseases Market Set for Strong Growth, Projected to Reach $1.7 Billion by 2028
Medical Foods for Orphan Diseases Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
The Business Research Company’s Medical Foods for Orphan Diseases Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 8, 2024 /EINPresswire.com/ -- The medical foods for orphan diseases market size has witnessed robust growth, escalating from $1.24 billion in 2023 to $1.33 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.3%. This expansion in recent years can be attributed to factors such as orphan drug designation, advances in research and development, government funding and grants, regulatory frameworks, and improved diagnostics.
Key Drivers Fueling Market Growth
In the forecast period, the medical foods for orphan diseases market is anticipated to continue its upward trajectory, reaching $1.7 billion by 2028, with a CAGR of 6.3%. Key drivers include the integration of telemedicine and remote monitoring, healthcare system advancements, emerging technologies in food science, precision nutrition, and heightened patient demand.
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Major Players and Market Trends
Leading companies such as Nestle S.A., Johnson & Johnson, Abbott Laboratories Inc., and Danone S.A. are at the forefront of product innovation in disease-specific formulations. For example, Relief Therapeutics launched PKU GOLIKE, a phenylalanine-free food for managing phenylketonuria symptoms, utilizing a patented physiomimic technology platform.
Market Segments
•Product Types: Pills, Powder, Liquid, Other Products
•Route of Administration: Oral, Enteral
•Applications: Phenylketonuria, Tyrosinemia, Eosinophilic esophagitis, Food Protein-Induced Enterocolitis Syndrome (FPIES), Maple Syrup Urine Disease (MSUD), Homocystinuria, Other Applications
•Sales Channels: Online Sales, Institutional Sales, Retail Sales
Regional Insights: North America Leads, Asia-Pacific Poised for Rapid Growth
In 2023, North America dominated the medical foods for orphan diseases market, while Asia-Pacific is expected to exhibit the fastest growth during the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.
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Medical Foods For Orphan Diseases Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Medical Foods For Orphan Diseases Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on medical foods for orphan diseases market size, medical foods for orphan diseases market drivers and trends, medical foods for orphan diseases market major players, competitors' revenues, market positioning, and market growth across geographies. The medical foods for orphan diseases market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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