The Southeast Asia medical foods market size was valued at USD 1.4 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 5.1% from 2023 to 2032.
Key Pointers
Report Scope of The Southeast Asia Medical Foods Market:
Report Coverage | Details |
Market Size In 2022 | USD 1.4 Billion |
Revenue Forecast By 2032 | USD 2.30 Billion |
Growth Rate From 2023 to 2032 | 5.1% |
Base Year | 2022 |
Forecast Period | 2023-2032 |
Segments Covered | Route Of Administration,Product,Patient Type,Application,End-use,Sales Channel, |
Market Analysis (Terms Used) | Revenue In USD Million/Billion And CAGR From 2023 To 2032 |
Key Companies Profiled | Danone S.A.; Abbott; Nestlé; Mead Johnson & Company, LLC; Fresenius Kabi AG; Ajinomoto Cambrooke, Inc.; B. Braun Melsungen AG |
According to the World Health Organization, the aging population in Southeast Asia is overgrowing. The rate of increase in the population of people aged 60 or above was 9.8% in 2017 and is expected to rise to 13.7% by 2030 and 20.3% by 2050, respectively.
Nutrition is a key factor in the aging process and a significant contributor to future health, helping to maintain good health. However, in South Asia, malnutrition contributes to the development of geriatric syndromes in older adults, which increases the risk of naturally developing poor health or chronic diseases. Besides, changes in lifestyle and the environment have led to modifications in the pattern of diseases among the elderly in Southeast Asia.
South Asia experiences a large burden of malnutrition among children aged under 5 years. The region’s population continues to struggle with malnutrition challenges encompassing both, undernutrition & overnutrition, with micronutrient deficiencies being very common. According to the UN, Asia’s undernourished population increased from 361.3 million in 2019 to 418.0 million in 2020, increasing the occurrence of undernourishment from 7.9% to 9.0% respectively. South Asia has been severely impacted, accounting for 89% of the increase in the undernourished population in Asia.
Malnutrition in Indonesia is a complex issue, owing to the coexistence of obesity and undernourishment in multiple demographics. In Indonesia, millions of adolescents and children are threatened by the high prevalence of stunting & wasting amid the burden of malnutrition. The country has made significant progress in reducing stunting, wasting, and food insecurity.
In addition, an increase in research activities in various fields, such as proteomics, nutrigenomics, & metabolomics, to establish links between food & genes, has further boosted the need for medical foods in personalized treatment regimens. Furthermore, medical foods are used to improve metabolic errors, wherein a specific enzyme defect can inhibit the normal metabolism of proteins, carbohydrates, & fats.
The Global Hunger Index (GHI) helps to monitor the countries if they are achieving hunger-related Sustainable Development Goals (SDGs). It measures the performance of countries on four component indicators: child wasting, undernourishment, child stunting, and child mortality. The GHI can specifically help market players identify the requirement for medical foods among different countries in Southeast Asia.
In Southeast Asia, medical food pricing varies significantly due to product quality, strength, and purity, as well as differences in distribution channels. High-priced products are typically sold through the health practitioner distribution channel. Medicare ideally does not allow reimbursement for non-FDA-approved therapy, including medical foods. This adds to the burden of patients seeking lifelong nutritional support, owing to the significant long-term out-of-pocket expenditures required.
Southeast Asia Medical Foods Market Report Segmentation:
Route Of Administration
Product
Patient Type
Application
End-use
Sales Channel