A new study by the company, titled ‘Medical Foods Market: Global Industry Analysis 2013-2017 and Forecast 2018-2026′, has listed out the key points being considered by companies and governing bodies involved in the medical foods market to stay sustainably profitable in the long run. The North America medical foods market is a prominent market on a global level, with the adoption of medical foods comparatively high. Health practitioners present here prescribe medical foods over other routine foods to overcome diseases at a much faster pace. The market in Asia Pacific, which includes China, is expected to grow over the forecast period for medical foods, as most of the suited healthcare facilities for medical foods are operating in this region by setting up manufacturing units. This step provides quality products with affordable working labor that cuts operating expenses. With a rise in the population in Asia Pacific, it becomes a sure-shot opportunity space. However, increasing price and other therapeutic alternatives present in such developing regions are countering the growth of the medical foods market in this region.
This report finds that, the medical foods market is not just for global manufacturers. There are minor companies present who focus on the improvement of medical foods, such as Targeted Medical Pharma. Companies like them show clear light for other interested players to get involved in the medical foods market, though it is a highly consolidated market with bigger companies occupying a majority of the share. A diverse product range and a progressive marketing technique can help in establishing a mark in the medical foods industry. The U.S. is a frontrunner in the medical foods industry, since people in this region understand the entirety of medical foods. In most developing countries, the main barrier for medical foods is the lack of understanding such a concept, which leads to less adoption of medical foods.
The growing medical foods industry is most certainly taken as an ’emerging’ market, where growth is because of new medical food manufacturers getting involved in the market. In most parts of the world, it is still a concept everyone is just trailing around. This industry’s aspects are not well positioned in most parts of the world, due to socio-economic differences. For example – ORS is available in most parts of the world with provided schemes from world health bodies such as WHO. But this is not the case with other medical food categories due to many reasons that are better classified by manufacturers and government officials. The medical foods industry comprises de?ned food products that are manufactured to act for a particular disease indication. They meet the nutritional de?ciencies observed after a speci?c disease. This report helps in studying the market requirements designed for medical foods, and other dynamics going forward in the industry.
For medical foods, nutritionally complete products are stated as complete formulation products, which consist of sufficient amounts of protein, fat, carbohydrates, vitamins, and minerals in their composition with suitable pharmaceutical compounds. This segment is more dominant than nutritionally incomplete formula and oral rehydration products. The adoption rate for complete formulation products as medical foods is more evident than other options. A number of medical foods present are also more nutritionally complete products, and this count will only grow.
On the contrary, high equipment cost and competitive pricing are some of the key restraining factors that might hamper the growth in this market. In addition, the easy availability of substitutes has posed a potential threat to skincare devices. However, the rising number of beauty spas, dermatologists, and professional aestheticians are expected to minimize the effect of these restraints and drive the demand in the global skincare devices market.
With the emergence of new players, the global skincare devices market is likely to witness high competition in the coming years. The rising number of players at regional as well as the international level will change the strategies followed by these players. Leading players are expected to expand their product line and introduce new products. They are also expected to invest in mergers and acquisitions with an objective to attain a larger share in the market. Lumenis Ltd., Valeant Pharmaceuticals, ZELTIQ Aesthetics, Inc., Cynosure, and Syneron Medical Ltd. are few players analyzed in the report.
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