Industry Background:
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.This growth is primarily driven by Rising Preference for Orally Administered Products and High Availability of Huge Number of Products in this Form.
Globally, a noticeable market trend is evident Increasing Number of the Physician and Healthcare Professionals In Terms Of the Understanding and Improving “Metabolic Nutrition” In Medical Foods to Managing Consumer Disease. Major Players, such as 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) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
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.
Regulatory Insights:
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.
Market Drivers
- Rising Preference for Orally Administered Products
- High Availability of Huge Number of Products in this Form
Market Trend
- Increasing Number of the Physician and Healthcare Professionals In Terms Of the Understanding and Improving “Metabolic Nutrition” In Medical Foods to Managing Consumer Disease
Restraints
- Less Understanding of Medical Food Category among Consumers
- Increasing Number of Government Claims and Communicating Benefits
Opportunities
Increasing Number of Research and Development, Along With the Growing Requirement of the Individual, Genetics & Microbiome Factors and 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
Challenges
Lack of Access to Medical Foods in Underdeveloped Regions
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Medical Foods Study Sheds Light on
The Medical Foods Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Medical Foods industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Medical Foods industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.