Asia Pacific Medical Foods Market Dynamics, Landscape And Latest Trends Report 2030

Asia Pacific Medical Foods Industry Overview

The Asia Pacific medical foods market size was valued at USD 5.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2022 to 2030.

The Asia Pacific (APAC) market is fairly untapped and rapid urbanization and development in the region have widened the medical foods industry. The growing geriatric population and diseases associated with old age are key factors contributing to the growth. Lifestyle diseases associated with a sedentary lifestyle that comes with modernization and urbanization are on the rise in the region. Awareness about leading a healthy lifestyle is a key factor for the increased adoption of medical foods as preventative measures to reduce symptoms of diseases and certain diseases altogether.

Gather more insights about the market drivers, restrains and growth of the Asia Pacific Medical Foods Market

Japan medical foods market size, by route of administration, 2020 - 2030 (USD Million)

According to the United Nations Population Fund (UNFPA), by 2050 Asia Pacific will have one in four people aged above 60. The geriatric population will be nearly 1.3 billion. With the increase in the geriatric population, health issues arising due to the same have also been on the rise. Lifestyle diseases associated with aging are also key factors contributing to the growth of the market.

Asia Pacific region where urbanization and development have increased the overall life expectancy but have also caused a shift in causes of mortality from communicable diseases to non-communicable diseases. The leading factor for mortality is cardiovascular diseases and cancer. According to the OECD data, cancer caused nearly 4.5 million deaths in the APAC region.

The increase in overall awareness around medical food has driven the market growth significantly in recent years. The markets in China and South Korea are seeing massive uptake of medical foods and the demand for the same is steadily rising. In lieu of this, the countries are speeding up processes for more imports and also investing in their portfolios to expand in the regional market. The market for medical foods pertaining to specific rare diseases is gaining momentum and being prioritized for registration by the governments.

The COVID-19 pandemic restrained the growth and development of the Asia Pacific medical foods market. The rapid urbanization and high burden of the diseases coupled with the massive impact that the pandemic had on the health of people have increased the uptake of medical foods. This in turn has resulted in the growth of the industry.

Browse through Grand View Research's Pharmaceuticals Industry Research Reports.

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Key Companies profiled:

Some prominent players in the Asia Pacific medical foods market include

  • Mead Johnson
  • SHS International ltd
  • Synutra International ltd
  • Milupa Gmbh
  • Danone
  • Nestlé
  • Abbott
  • Fresenius Kabi AG
  • GlaxoSmithKline PLC

Order a free sample PDF of the Asia Pacific Medical Foods Market Intelligence Study, published by Grand View Research.

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