Rx Medical Food Market to be worth US$ 26,455.7 Million by 2025 Globally On Account of Increasing Regulatory Support
The Global Rx Medical Food Market, by product type (pills, powders, liquids, and others (wafers, chewables and bars)), by therapeutic application (pain management, sleep disorder, neurological disorder, GI disorder, pulmonary disorders, metabolic disorders, and others (fibrosis, dialysis, aids, etc.)), by distribution channel (retail pharmacies and online pharmacies), and by region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 14,504.6 million in 2016 and is projected to exhibit a CAGR of 7.0% over the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Growing regulatory support, increasing awareness about medical food in emerging economies and advantages over drug therapies are expected to be the major factors driving growth of the global Rx medical food market over the forecast period.
Manufacturers are developing medical food products with improved therapeutic effects and different dosage forms for ease of administration and patient convenience. Abbott laboratories introduced science-based nutrition drinks, Ensure Surgery Immunonutrition Shake, and Ensure Pre Surgery Clear Nutrition in 2016, to help patients recover from surgeries. Cera Products, Inc. launched Ceralyte oral rehydration salt to treat dehydration and diarrhea in 2017. Cambrooke announced the launch of Tylacti COMPLETE Bars, a nutritionally complete medical food available in a convenient format, for the dietary management of Tyrosinemia (TYR) in 2017. The company launched medical food line Phenactin AA Plus, Vilactin AA Plus, Isovactin AA Plus, Homactin AA Plus, and Promactin AA Plus for inborn errors of metabolism in 2015. Nutricia Metabolics launched Anamix Next for Tyrosinemia, Methylmalonic Acidemia, and Isovaleric Acidemia in 2015. Moreover, the company launched PhenylAde GMP, a new formula for Phenylketonuria (PKU) in the same year.
Browse 40 Market Data Tables and 35 Figures spread through 166 Pages and in-depth TOC on Rx medical food market, by product type (pills, powders, liquids, and others (wafers, chewables and bars)), by therapeutic application (pain management, sleep disorder, neurological disorder, GI disorder, pulmonary disorders, metabolic disorders, and others (fibrosis, dialysis, aids, etc.)), by distribution channel (retail pharmacies and online pharmacies), and by region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2025
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Manufacturers are focusing on developing novel medical food for use in various medical conditions, by actively investing in research and development of pipeline products. For instance, Targeted Medical Pharma reported preliminary data indicating company’s new amino acid-based oral formulation – PERCURA, intended to reduce symptoms of pain and numbness related to peripheral neuropathy, in an open-label pilot study in 2012. Enzymotec Ltd announced investigator initiated clinical trial of Vayarin for managing attention deficit hyperactivity disorder (ADHD) for children suffering from epilepsy, in 2015. Scientists at Nestlé Institute of Health Science are studying human DNA to develop personalized programs for epilepsy and intestinal disorders; to further develop medical food products containing natural compounds.
Major players are also expanding their product portfolio and entering into the medical food industry through mergers and acquisitions. Nestlé is expanding its business to enter the nutrition sector through medical food namely, prescription-based powders and drinks to treat diseases. The Italy-based company, AlfaSigma, acquired the U.S. medical food maker Pamlab from Nestlé in 2017, to strengthen the company’s operations in North America. The U.S. Food & Drug Administration (FDA) awarded grants through the Orphan Products Clinical Trials Grants Program, to encourage clinical development of products, including medical food for treatment of rare diseases or conditions.
Key Takeaways of the Rx Medical Food Market:
The global Rx medical food market is expected to exhibit a CAGR of 0% over the forecast period (2017–2025), owing to the presence of high potential, especially in Asia Pacific, Latin America, the Middle East, and Africa. Novel product developments for varying disease conditions and increasing awareness about the health benefits of medical food is expected to drive growth of the global Rx medical food market. The U.S. congress has passed a National Defense Authorization Act in 2017, to cover costs of medical food under Tricare (military healthcare). This step is expected to support patients suffering from medical conditions and consuming medical food. This category was previously not covered for reimbursement under prescription drug plans. Some major players operating in the Rx medical food market include Abbott Laboratories, Danone, Mead Johnson & Company, LLC, Fresenius Kabi AG, Nestle, Primus Pharmaceuticals, Inc., Targeted Medical Pharma, Enzymotec ltd., AlfaSigma, and Pivotal Therapeutics.
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