Western Europe Medical Foods Market Size Analysis, 2018-2028
|REPORT ID: BKR615-EU||Domain: Healthcare||Published Date: May 2018|
Western Europe Medical Foods Market Size Analysis
Medical foods market in Western Europe accounted for 30% of global share in 2017 and is expected to register a CAGR of 3.7% during the forecast period, 2018-2028.
It is commonly known as foods for special medical purpose in Western Europe. The region hosts a large number of multinational companies including Danone, Difass International, Nestle, Fasska, Medifood, Norsa Pharma, Nuritas and B.Braun.
Moreover, many startups are emerging in the Western Europe Medical Foods Market with technological advancement and significant investment in R&D. The competition in the region will be intense in coming years however, brand reputation will play a major role in success of company’s business expansion. There could be mergers and acquisitions of small scale companies by leading organizations for product expansion.
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Few Key Takeaways from the Western Europe Medical Foods Market Report:
Insight#1: Medical Foods to Witness Major Demand from Diabetic Neuropathy Therapeutic Application in Europe
Western Europe Medical foods market revenue from diabetic neuropathy will increase by 1.9X to reach US$ 1,500 million by the end of 2027. The segment will register a CAGR of 3.7% during the forecast period (2017-2028).
There are nearly 60 million patients reported to have diabetes in Europe. Sedentary lifestyle and unhealthy diets has led to higher prevalence of obesity and diabetes in the region. Medical foods has proven hold good nutritional quality that could help diabetic patients relieve their symptoms and have better health conditions.
Insight#2: Pills/Tablets based Medical Foods to Register Fastest CAGR of 4.6% during the Forecast Period in Europe
While powder based medical foods dominate the Western Europe sales, pills/tablets will register fastest CAGR of 4.6% between 2017 and 2028. This will create an incremental opportunity of US$ over 320 million during the forecast period.
Insight#3: Germany to Dominate the Western Europe Medical Foods Market Size
Germany, UK and France to collectively account for over 75% of the regional sales in 2018. Various institutions and companies in Germany are engaged in research activities related to medical foods and dietary supplements. Moreover, Germany is the largest population with a very high rate of geriatrics population. All these factors has created favorable business environment in the country.
Insight#3: Danone to Account for Majority of the Consolidated Western Europe Medical Foods Market Share
Medical foods industry in Western Europe is highly consolidated with leading players accounting for over 80% of the regional share. As such, many new players has emerged in the region with few other leading players slowly stepping in the sector to gain higher revenue share. Recently, BASF entered in the medical foods sector. Such key developments are expected to take place during the forecast period.
The industry is expected to be driven by mergers and acquisitions. Product development will be the key priority.
Western Europe Medical Foods Market Competitive Landscape
Some key leading players in Western Europe regions are Primus Pharmaceuticals, XYMOGEN, Targeted Medical Pharma Inc., Abbott, Danone, Nestlé, Mead-Johnson, and Fresenius Kabi AG.