DUBLIN--(BUSINESS WIRE)--The "Medical Foods for Inborn Errors of Metabolism Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product; Age group; Disease; Forms; Packaging; Distribution Channel; and Geography" report has been added to ResearchAndMarkets.com's offering.
The global medical foods for inborn errors of metabolism market are anticipated to reach US$ 5,768.79 million by 2027 from US$ 2,507.80 million in 2019. The market is projected to grow with a CAGR of 11.2% from 2020 to 2027.
Factors such as increasing incidences of inborn errors of metabolism and growing preference toward dietary food supplements are expected to boost the growth of the global medical foods for inborn errors of metabolism market. However, the market is likely to get impacted by the issues with medical foods for inborn errors of metabolism during the forecast period.
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 change the lineage from medicines to medical supplements and nutritional foods. Medical food refers to 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 into four major categories-formulas for metabolic disorders, complete nutritional products, nutritionally incomplete products, and oral rehydration solutions. The medical foods are easy to access, 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 during the forecast period.
The global medical foods for inborn errors of metabolism market is segmented on the basis of product, age group, disease, form, packaging, distribution channels, and geography. Based on product, the medical foods for inborn errors of metabolism market is segmented into amino acid, glytactin with GMP, amino acid-modified infant formula with iron, low-calcium/vitamin D-free infant formula with iron, low protein food, and others. In 2019, the amino acid segment accounted for the largest share of the global medical foods for inborn errors of metabolism market.
The growth of this segment attributes to the availability of large number of amino acid based products in the market and their growing demand. Furthermore, the number of patients suffering from amino acid disorders is significantly higher leading to rising demand for these products during the forecast period.
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Market Dynamics
Drivers
- Increasing Incidences of Inborn Errors of Metabolism
- Growing Preference Toward Dietary Supplements
Restraints
- Issues with Medical Foods for Inborn Errors of Metabolism
Opportunities
- Developing Healthcare Industry Worldwide
Future Trends
- Growing Online Distribution Platforms
Companies Mentioned
- Nestle
- Abbott
- Reckitt Benckiser Group Plc
- Ajinomoto Co. Inc.
- Solace Nutrition
- Primus Pharmaceuticals, Inc.
- BioMarin Pharmaceutical Inc.
- Danone SA
- Galen Limited
- PKU-MDMIL
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