Global Rx Medical Food Market, by Product Type (Pills, Powder, Liquid and Others (wafers, chewables, and bars)), by Therapeutic Application (Pain Management, Pain Management, 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), is estimated to be valued at US$ 19,387.3 million in 2020 and is expected to exhibit a CAGR of 6.8 % during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Medical nutrition is important for management of certain chronic conditions such as diabetes, obesity, constipation, malabsorption, indigestion, etc. It also helps to maintain healthy lifestyle, improve appetite and food intake, it lowers the risk of nutrient deficiencies and other health conditions.
Medical nutrition is recommended for patients of all ages including infants, adults, and geriatrics who are susceptible to conditions such as diabetes, obesity, renal failures, chronic diseases, neurological diseases, and others. These factors have led to an increase in demand for medical nutrition.
Manufacturers are focused on developing and launching medical food products with improved therapeutic effects and different dosage forms for ease of administration and patient convenience which is expected to drive growth of the Rx medical food market.
For instance, in March 2020, Conagen Inc., a biotechnology company, announced that it has developed a sustainable proprietary lactoferrin protein that mirrors the nutritional properties of lactoferrin from breast milk. In February 2020, Danone, a food-products corporation, launched the Aptamil baby formula pack with dual outer and inner QR codes for tracking and connecting services.
Similarly, in April 2017, Abbott Laboratories launched science-based nutrition drinks such as Ensure Surgery Immunonutrition Shake and Ensure Pre Surgery Clear Nutrition, which are designed to support immune health, reduce insulin resistance, and fasten surgery recovery time.
In April 2017, Cambrooke Therapeutics Inc. launched Tylacti COMPLETE Bars, a nutritionally complete medical food for dietary management of Tyrosinemia (TYR). Furthermore, in September 2016, Cambrooke Therapeutics Inc. launched a new and improved Glytactin Complete Bar, a medical food for the dietary management of Phenylketonuria (PKU).
Rx Medical Food Market - Impact of Coronavirus (Covid-19) Pandemic
The coronavirus pandemic has negatively impacted the development, production, and supply of Rx medical food worldwide during the coronavirus pandemic. Many production and manufacturing facilities and transport departments have suspended operations at their Rx medical food factories to stop the spread of virus. Thus, this pandemic has affected both demand and supply of Rx medical food.
Since December 2019, a novel coronavirus spread throughout China and across the world, causing a continuous increase in confirmed cases within a short period of time. The disease has spread to more 100 countries around the globe with the World Health Organization declaring it a public health emergency.
For instance, according to the World Health Organization Coronavirus Disease (COVID-19) Dashboard (WHO) report, the manifestation of the coronavirus disease (COVID-19) has resulted in more than 11 million infected individuals worldwide as of July 2020.
Following the spread of the coronavirus, several companies operating in the Rx medical food market are investing in development of new Rx medical food products to boost immunity in the body.
For instance, Danone’s nutrition health department, Nutricia is supporting research from independent medical professionals to define guidelines for nutritional care of COVID-19 patients recovering after intensive care unit (ICU) admittance.
In May 2020, Danone’s nutrition health department, Nutricia, announced that clinician-initiated research projects in 16 countries around the world will be supported by Nutricia with grants totaling around US$ 1.1 million.
Browse 35 Market Data Tables and 35 Figures spread through 228 Pages and in-depth TOC on Rx Medical Food Market, by Product Type (Pills, Powder, Liquid and Others (wafers, chewables, and bars)), by Therapeutic Application (Pain Management, Pain Management, 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)- Forecast to 2027"
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