Global Medical Foods Market Overview:
The medical foods are food formulated which is consumed under the supervision of any physician. The medical foods are initially started as commercial formulas for IEM in the year of 1958. Its consumption is done under the supervision of the physician and that is specified as dietary management of any disease and condition, which require distinctive nutritional requirement. The United States Food and Drug Administration is evaluating the mechanism of medical foods. The supply of medical foods is the greatest source of body growth and development, which contains essentials nutrients, carbohydrates, and others. The medical foods are labeled for specific medical disorders or conditions. These are not prescribed drugs. Some of the key players profiled in the study are Danone (France), Nestle (Switzerland), Abbott (United States), Targeted Medical Pharma Inc. (United States), Primus Pharmaceuticals Inc. (United States), Mead Johnson & Company (United States), Lyons Magnus (United States), Medtrition (United States), Metagenetics Inc. (United States) and Reckitt Benckiser Group plc (United Kingdom).
On the basis of geography, the market of Medical Foods has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Categories, the sub-segment i.e. Ready to Drink will boost the Medical Foods market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Pharmacies will boost the Medical Foods market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Route Of Administration, the sub-segment i.e. Oral will boost the Medical Foods market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Age Group, the sub-segment i.e. Infant will boost the Medical Foods market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Preference for Orally Administered Products
- High Availability of Huge Number of Products in this Form
- Increasing Number of the Physician and Healthcare Professionals In Terms Of the Understanding and Improving “Metabolic Nutrition” In Medical Foods to Managing Consumer Disease
- Less Understanding of Medical Food Category among Consumers
- Increasing Number of Government Claims and Communicating Benefits
- Increasing Number of Research and Development, Along With the Growing Requirement of the Individual, Genetics & Microbiome Factors
- Rising Number Of the Mobilize Efforts In Terms Of Scientists, Regulators, Policy Makers, and Industry to Enhance the Development of Cost-Effective and Nutrition-Based Products
- Lack of Access to Medical Foods in Underdeveloped Regions
Major Market Developments:
In Jun 2019, Relevium Technologies announced the acquisition of Biocannabix Health Corporation. The agreement is focusing on developing, marketing and selling endo-medicinal formulations on Nutraceuticals and medical foods.
In Jan 2020, mCig, Inc. and BRRx Clinical Inc. revealed its first of several CBD enhanced medical foods for the treatment of Shingles, Herpes, and also for the liver disease. The company is focusing on development to supply an independent national compounding pharmacy network.
Medical food is regulated under the United States food and drugs administration, Federal Food, Drug, and Cosmetic Act and the Fair Packaging and Labelling Act. The medial foods manufacturers must have registered with the FDA, they must comply with cGMP, and it should be inspected every two years.
The global medical foods market is highly competitive and consists of some key players. In terms of market share, few of the key players presently dominate the global market. These market players are leveraging on strategic collaborative creativities to intensification their market share and escalation their profitability.
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Medical Foods Manufacturers, Suppliers and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
Major Objectives Focused through this Study
To define, describe, and forecast the Global Medical Foods market on the basis of product [High Nutrient Based, Modular Products and Low Protein Products] , application [Chronic Kidney Disease, Minimal Hepatic Encephalopathy, Chemotherapy-Induced Diarrhoea, Pathogen-Related Infections, Diabetic Neuropathy, ADHD, Depression and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Medical Foods market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Medical Foods industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Fresenius Kabi AG (Germany), Alfasigma spA (Italy) and Cerecin Inc. (Singapore).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Medical Foods market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.