South Korean Pharmaceutical Companies Eye ‘Medifood’ as a New Growth Engine Amid Aging Society

(Image courtesy of Kobiz Media)

SEOUL, Jan. 15 (Korea Bizwire) — As South Korea grapples with an aging population, pharmaceutical companies are increasingly looking at ‘medifood’ as a potential new growth area. Medifood, also known as ‘food for special medical purposes,’ includes beverages and meals specially designed for the elderly or others who require particular nutritional care due to health reasons.

On January 14, industry sources revealed that Chong Kun Dang Health recently launched ‘Dr. Care Sugar Coach Zero,’ a nutritional supplement for diabetics. Nutritional supplements, a category of medifood, are liquid or gel products created to provide balanced nutrition for people with specific dietary needs due to illnesses, surgeries, or for maintaining and recovering physical strength.

‘Sugar Coach Zero’ is a beverage developed to assist in the dietary management of patients needing strict blood sugar control or sugar intake restriction. It was developed in collaboration with the Korean Diabetes Association.

Chong Kun Dang Health recently launched ‘Dr. Care Sugar Coach Zero,’ a nutritional supplement for diabetics. (Image courtesy of Chong Kun Dang Health)

Chong Kun Dang Health had previously launched ‘Cancer Coach’ under the same brand in May of last year, a product specifically formulated for the dietary management of cancer patients. 

Daewoong Pharmaceutical is also active in this market through MDWell, a medical nutrition company established in partnership with Maeil Dairies in 2007. Their ‘Mediwell’ product line, featuring options like ‘rich flavor’ and ‘healthy five-grain taste,’ includes vitamins and minerals. 

Although companies like Hyundai Green Food and Daesang Wellife are currently leading the medifood market with a variety of products, pharmaceutical companies are expected to make a more significant entry soon, leveraging their reputation and customer base built through selling medicines. 

An industry insider noted, “Although medifood falls under the category of food, requiring different marketing and distribution strategies from medicines and health supplements, we believe there will be continued demand for medifood and plan to target this market.”

The Ministry of Food and Drug Safety (MFDS) has also been supportive, recently establishing standard manufacturing criteria for nutritional supplements for individuals suffering from pulmonary disease. Previously, standards were only set for products catering to diabetes, cancer, hypertension, kidney diseases, and intestinal disorders. With the new criteria, a wider variety of products can now be developed for different conditions. 

By 2026, the MFDS also plans to establish standards for foods for those suffering from liver disease and inflammatory bowel disease. Last year, the agency added 25,000 food nutritional component data entries to the public data portal, aiding in the development of medifood products. 

According to a report published early last year by the Korea Agro-Fisheries & Food Trade Corporation, the global medifood market, valued at $6.7 billion (about 9 trillion won) in 2017, is projected to grow to $12.4 billion (about 16 trillion won) by 2028.

M. H. Lee (mhlee@koreabizwire.com)