Global RxMedical Food Market, by Product Type (Pills, Powder, Liquid and Others(wafers, chewables, and bars)), byTherapeutic Application (Pain Management, Pain Management, NeurologicalDisorder, GI Disorder, Pulmonary Disorders, Metabolic Disorders, and Others(fibrosis, dialysis, AIDS, etc.)) by Distribution Channel (Retail Pharmaciesand 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 theforecast period (2020-2027), as highlighted in a new report published byCoherent Market Insights.
Medical nutrition is importantfor management of certain chronic conditions such as diabetes, obesity,constipation, malabsorption, indigestion, etc. It also helps to maintainhealthy lifestyle, improve appetite and food intake, it lowers the risk of nutrientdeficiencies and other health conditions.
Medical nutrition is recommendedfor patients of all ages including infants, adults, and geriatrics who aresusceptible to conditions such as diabetes, obesity, renal failures, chronicdiseases, neurological diseases, and others. These factors have led to anincrease in demand for medical nutrition.
Manufacturers are focused ondeveloping and launching medical food products with improved therapeuticeffects and different dosage forms for ease of administration and patientconvenience 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 asustainable proprietary lactoferrin protein that mirrors the nutritionalproperties of lactoferrin from breast milk. In February 2020, Danone, afood-products corporation, launched the Aptamil baby formula pack with dualouter and inner QR codes for tracking and connecting services.
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Similarly, in April 2017, AbbottLaboratories launched science-based nutrition drinks such as Ensure SurgeryImmunonutrition Shake and Ensure Pre Surgery Clear Nutrition, which aredesigned to support immune health, reduce insulin resistance, and fastensurgery recovery time.
In April 2017, CambrookeTherapeutics Inc. launched Tylacti COMPLETE Bars, a nutritionally completemedical food for dietary management of Tyrosinemia (TYR). Furthermore, inSeptember 2016, Cambrooke Therapeutics Inc. launched a new and improvedGlytactin Complete Bar, a medical food for the dietary management ofPhenylketonuria (PKU).
Rx Medical Food Market - Impactof Coronavirus (Covid-19) Pandemic
The coronavirus pandemic hasnegatively impacted the development, production, and supply of Rx medical foodworldwide during the coronavirus pandemic. Many production and manufacturingfacilities and transport departments have suspended operations at their Rxmedical food factories to stop the spread of virus. Thus, this pandemic hasaffected both demand and supply of Rx medical food.
Since December 2019, a novelcoronavirus spread throughout China and across the world, causing a continuousincrease in confirmed cases within a short period of time. The disease hasspread to more 100 countries around the globe with the World HealthOrganization declaring it a public health emergency.
For instance, according to theWorld Health Organization Coronavirus Disease (COVID-19) Dashboard (WHO)report, the manifestation of the coronavirus disease (COVID-19) has resulted inmore than 11 million infected individuals worldwide as of July 2020.
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Following the spread of thecoronavirus, several companies operating in the Rx medical food market areinvesting in development of new Rx medical food products to boost immunity inthe body.
For instance, Danone’s nutritionhealth department, Nutricia is supporting research from independent medicalprofessionals to define guidelines for nutritional care of COVID-19 patientsrecovering after intensive care unit (ICU) admittance.
In May 2020, Danone’s nutritionhealth department, Nutricia, announced that clinician-initiated researchprojects in 16 countries around the world will be supported by Nutricia withgrants totaling around US$ 1.1 million.
Browse 35 Market Data Tables and35 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 (PainManagement, Pain Management, Neurological Disorder, GI Disorder, Pulmonary Disorders,Metabolic Disorders and Others (fibrosis, dialysis, AIDS, etc.)) byDistribution Channel (Retail Pharmacies, and Online Pharmacies), and by Region(North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)-Forecast to 2027"
Key Takeaways of the Rx MedicalFood Market:
The global Rx medical food marketis expected to exhibit a CAGR of 6.8% during the forecast period (2020-2027)owing to launch of Rx medical food products.
Among product type, the pillssegment is expected to hold a major revenue share in 2027 owing to theincreasing number of product launches. For instance, in June 2018, VAYA Pharma,Inc. expanded its medical food product offerings with the introduction of anextra-strength formula called Vayarin Plus, which caters to the clinicaldietary management of ADHD (Attention-deficit/hyperactivity disorder) inadolescents as well as adults weighing more than 97 lbs.
Major players operating in theglobal Rx Medical Food Market are Abbott Laboratories, Danone S.A., MeadJohnson & Company, LLC, Fresenius Kabi AG, Nestle S.A., PrimusPharmaceuticals, Inc., Targeted Medical Pharma Inc., Pivotal Therapeutics Inc.,VAYA Pharma, Inc., and AlfaSigma S.P.A.
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