Publication Month: Jun 2020 | Report Code: TIPRE00011389 | No. of Pages: 243 | Category: Pharmaceuticals | Status: Published
The global medical foods for inborn errors of metabolism market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.
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The rates for consumption of nutraceutical supplements and prescribed medical food are increasing over enzyme-based therapeutic medicines. The increasing costs of healthcare and rising preference of consumers toward simple and effective remedies for disease management are likely to be responsible for the changing lineage from medicines toward medical supplements and nutritional foods. Medical food refers to a category of products that are used in dietary management of various diseases including inborn errors of metabolism that contains specific nutrients to fulfill the nutrient requirements for patients suffering from particular conditions.
The US Food and Drug Administration (FDA) have categorized medical food under four major categories formulas for metabolic disorders, complete nutritional products, nutritionally incomplete products, and oral rehydration solutions.
The medical foods are easy to be accessed as they do not require a prescription but are necessarily consumed under a medical supervision. In case of inborn errors of metabolism, medical foods are used as treatment options, and the products available in the market are regulated under authoritative and regulatory food and diet supplement statuses. The nutritional treatment for inborn errors of metabolism provides between 85% and 90% of nutritional requirement for a person suffering from a particular inherited disorder. Moreover, there are almost negligible side effects of these supplements, making them ideal for consumption for patients of all age groups. In recent years, the private medical insurers in the US and a few other countries are also offering reimbursement programs for the consumption of certain medical foods. Thus, the rising adoption of medical food and nutrient supplements is expected to foster the market growth over the years to come.
In terms of product type, the global medical foods for inborn errors of metabolism market is segmented into amino acids, glytactin with GMP, amino acid-modified infant formula with iron, low calcium/vitamin-D infant formula with iron, low protein food and others. In 2019, the amino acid segment held largest share of the market. Also, the same segment is estimated to register the highest CAGR during the forecast period.
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In terms of age group, the global medical foods for inborn errors of metabolism market is segmented into infants, weaning, adolescents and adults. In 2019, the infants segment held largest share of the market. Also, the same segment is estimated to register the highest CAGR during the forecast period.
Based on disease, the global medical foods for inborn errors of metabolism market is segmented into phenylketonuria (PKU), maple syrup urine disease (MSUD), homocystonuria, urea cycle disorders, methylmelonic academia, organic acidureas, propionic academia, isovaleric academia, disorders of leucine metabolism, glutaric academia type-1, renal disease, tyrosinemia types I and II and others. The phenylketonuria segment held the largest market share in 2019. However, the glutaric academia type-1 segment is expected to grow at the fastest rate during the coming years.
Based on forms, the global medical foods for inborn errors of metabolism market is segmented into powder, liquids, gels, and others. The powder segment held the largest market share in 2019. Also, the same segment is estimated to grow at the highest CAGR during the forecast period.
In terms of packaging, the global medical foods for inborn errors of metabolism market is segmented into can, jar, packet, bottle, and others. The can segment held the largest share of the market in 2019. However, the packets segment is expected to grow at the highest CAGR during the forecast period.
In terms of distribution channel, the global medical foods for inborn errors of metabolism market is segmented into retail pharmacies, hospital pharmacies, online pharmacies, drug stores and others. The retail pharmacies segment held the largest share of the market in 2019. Also, the same segment is estimated to grow at the fastest rate during the forecast period.
|Market Size Value in||US$ 2,507.80 Million in 2019|
|Market Size Value by||US$ 5,768.79 Million by 2027|
|Growth rate||CAGR of 11.2% from 2020-2027|
|No. of Pages||243|
|No. of Tables||147|
|No. of Charts & Figures||98|
|Historical data available||Yes|
|Segments covered||Product ; Age group ; Disease ; Forms ; Packaging ; Distribution Channel ; and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
The global medical foods for inborn errors of metabolism market players are adopting the product launch and expansion strategies to cater to changing customer demands worldwide, which also allows them to maintain their brand name globally.
The List of Companies - Medical Foods for Inborn Errors of Metabolism Market