Rx medical food market

Rx Medical Food Market, by Product Type (Pills, Powder, Liquid, Others (Wafers, Chewable, and Bars)), by Therapeutic Application (Pain Management, Neurological Disorders, Gastrointestinal Disorders, Pulmonary Disorders, Metabolic Disorders, Others (Fibrosis, Dialysis, AIDS, etc.)), by Distribution Channel (Retail Pharmacies, Hospital Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

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Oct 2022
CMI909
228 Pages
Excel & Pdf
Pharmaceutical

Summary

Medical food is consumed or internally administered under the supervision of a physician for the treatment of a disease or specific dietary management. Medical food is used for various purposes such as healthy aging, maintaining brain health, and for treating chronic medical conditions such as irritable bowel syndrome and metabolic disorders. Medical food imitates therapeutic agents used in the treatment of clinical conditions such as pain, sleep disorders, and cognitive disorders. It provides relief from pain or helps treat the condition without exhibiting any risk or side effects that are usually associated with pharmaceutical drugs. Medical food products claiming treatment of such medical conditions or any other diseases are required to support their claim with proper scientific and clinical study results. Medical food is a category of prescribed products which offer various advantages over prescription drugs such as lesser side effects, lower product costs, and nutritional benefits.

The global Rx medical food market is estimated to be valued at US$ 22,012.5 million in 2022 and is expected to exhibit a CAGR of 7.1% during the forecast period (2022-2030).

Figure 1. Global Rx Medical Food Market Share (%), by Product Type, 2022

Global Rx Medical Food Market - Drivers

The increasing demand for medical nutrition in infants is expected to drive growth of the global Rx medical food market over the forecast period. For instance, in August 2021, according to the data published in National Library of Medicine, the requirement of nutrition’s for preterm infants are diverse with gestational stage and age of growth. Furthermore, in June 2021, according to the data published in the World Health Organization, worldwide in 2020, 149 million children under 5 year were evaluated to be too short for age, 45 million were evaluated to be too thin for height, and 39 million were obese or overweight. Although, to manage these overall needs of nutrition or medical needs, optimizing nutrition intended to fulfill the space and enhance the growth and health outcomes.

Rx Medical Food Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2022:	US$ 22,012.5 Mn
Historical Data for:	2017 to 2020	Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	7.1%	2030 Value Projection:	US$ 38,136.1 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Product Type: Pills, Powder, Liquid, Others ( Wafers, Chewable, and Bars) By Therapeutic Application: Pain Management, Neurological Disorders, Gastrointestinal Disorders, Pulmonary Disorders, Metabolic Disorders, Others (Fibrosis, Dialysis, AIDS, etc.) By Distribution Channel: Retail Pharmacies, Online Pharmacies
Companies covered:	Abbott Laboratories, Danone S.A., Mead Johnson & Company, LLC, Fresenius Kabi AG, Nestle S.A., Primus Pharmaceuticals, Inc., Targeted Medical Pharma Inc., Pivotal Therapeutics Inc., VAYA Pharma, Inc., Lanfam and AlfaSigma S.P.A.
Growth Drivers:	Increasing demand for medical nutrition and adoption of inorganic strategies such as agreement
Restraints & Challenges:	Increasing side effects and complications caused by Rx medical food

Figure 2. Global Rx Medical Food Market Value (US$ Million), by Region, 2022

Global Rx Medical Food Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 can affect the economy in three main ways: by directly affecting production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, U.A.E., Egypt, and others, are facing problems with regards to the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a positive impact on the global Rx medical food market.

For instance, in June 2021, Food Safety and Standard Authority of India declared that Fortified milk is considered good for boosting Health and Immunity during COVID-19. A national webinar was conducted by Global Alliance for Improved Nutrition (GAIN) and Food Safety Standard Authority of India (FSSAI) on improving the nutrition quality. This webinar deliberated that potential role of vitamin A and D in boosting immunity and improving the overall health, which is more crucial in current situation of COVID-19.

Global Rx Medical Food Market: Key Developments

For instance, in May 2022, the U.S. Food and Drug Administration announced that they will provide a supply of millions of bottles for specialized medical infant formula to help immediate needs for infants with critical health conditions or specific allergies as it was in short supply in U.S. The FDA will continue to dedicate all available resources to help ensure that infant formula products remain available for use in the U.S. and will keep the public informed of progress updates.

Global Rx Medical Food Market: Restraint

Increasing side effects and complications caused by Rx medical food products are limiting the market growth. For instance, according to the data published in the National Library of Medicine in February 2019, the market for dietary nutraceuticals and supplements which is taken to enhance the health of customers is enormous. However, it is not safe for everybody the intake of regular drugs, supplements with active ingredients that provide pharmacological or physiological benefits, are also likely to cause side effects in sensitive individuals. More attention to potential interactions and side effects is required in order to avoid critical medical outcomes. Physicians and users alike should consult updated literature before advising or beginning a process including these substances.

Global Rx Medical Food Market - Key Players

Major players operating in the global Rx medical food market include Abbott Laboratories, Danone S.A., Mead Johnson & Company, LLC, Fresenius Kabi AG, Nestle S.A., Primus Pharmaceuticals, Inc., Targeted Medical Pharma Inc., Pivotal Therapeutics Inc., VAYA Pharma, Inc., Lanfam and AlfaSigma S.P.A.

Table of Content

Table of Contents

*Browse 35 market data tables and 34 figures on "Global Rx Medical Food Market” - forecast to 2030

Segmentation

Detailed Segmentation:

- Frequently Asked Questions -

What is the current market size and compound annual growth rate (CAGR) of the global Rx medical food market during the forecast period (2022-2030)?

The global Rx medical food market size is estimated to be valued at US$ 22,012.5 million in 2022 and is expected to exhibit a CAGR of 7.1% between 2022 and 2030.

What are the major factors driving the market growth?

Increasing demand for medical nutrition and adoption of inorganic strategies such as agreement is expected to drive the market

Which is the leading therapeutic application segment in the market?

Pain Management is the leading therapeutic application segment in the market.

What are the key factors hampering growth of the market?

Increasing side effects and complications caused by Rx medical food products are hampering the market.

Which are the major players operating in the market?

Major players operating in the market include Abbott Laboratories, Danone S.A., Mead Johnson & Company, LLC, Fresenius Kabi AG, Nestle S.A., Primus Pharmaceuticals, Inc., Targeted Medical Pharma Inc., Pivotal Therapeutics Inc., VAYA Pharma, Inc., Lanfam and AlfaSigma S.P.A.