Rx Medical Food Market Report: Projected to Exceed Production Volume, Consumption Volume, Revenue and Growth Rate 2028

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) - Size, Share, Outlook, and Opportunity Analysis, 2020 – 2027

The global Rx Medical Food Market 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).

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Market Overview:

Rx medical food is medical food that is consumed or administered under the supervision of a physician for the treatment of a disease or specific dietary management. The future of Rx medical food is looking bright and promising as companies discover novel methods to produce new pharmaceuticals at lower cost and in larger quantities.

Ingredients used in Rx medical foods must have generally recognized as safe (GRAS) status. It is different from prescription drugs, dietary supplements, and nutritional food. Medical food is nutrient-based, protein-based, and may contain vitamins and minerals, such as folic acid and thiamine. Rx medical food products are prescribed by doctors or taken under their supervision.

Competitive Landscape:

Major players operating in the global Rx medical food market are AlfaSigma S.P.A., VAYA Pharma, Inc., Pivotal Therapeutics Inc., Targeted Medical Pharma, Primus Pharmaceuticals, Inc., Nestle S.A., Fresenius Kabi AG, Danone S.A., Abbott Laboratories, and Mead Johnson & Company.

Key Market Drivers:

Growing prevalence of chronic conditions and the increasing geriatric population is expected to propel growth of the Rx medical food market during the forecast period. Medical nutrition is important for the management of certain chronic conditions. For instance, according to the World Health Organization (WHO), chronic diseases, such as diabetes, are the major cause of death and disability worldwide.

Moreover, rising awareness regarding clinical nutrition amongst healthcare professionals and patients is expected to augment the growth of the Rx medical food market. For instance, in July 2019, in an effort to shine a light on the health benefits of nutrient-dense foods, Produce for Kids launched Food Rx to address food as medicine. The monthly series will include Instagram Live videos as well as blog posts and podcast episodes focusing on the important role food plays in overall health.

COVID-19 Impact Analysis:

The outbreak of COVID-19 has made a positive impact on the Rx medical food market. People who eat a well-balanced diet tend to be healthier with stronger immune systems and lower risk of chronic illnesses and infectious diseases, which in turn reduce the risk of COVID-19. Eating the right kinds of foods, in the right amounts, is very crucial for health. It has become essential to maintain a healthy lifestyle, by maintaining a healthy diet individuals can keep the immune system strong to fight the disease. This in turn is expected to boost the market growth.

Key Takeaways:

The Rx medical food market is expected to exhibit a CAGR of XX % during the forecast period owing to the increasing demand for medical, nutritious food across the world. For instance, in April 2019, Giant Food launched the Produce Rx program in partnership with a local nonprofit, DC Greens, to improve customers’ access to nutritious food. Under the program, Medicaid beneficiaries with a diet-related chronic illness will get prescriptions for fruits and vegetables from their health care providers.

Among regions, North America and Asia Pacific are expected to witness significant growth in the Rx medical food market due to increasing prevalence of chronic diseases and growing awareness among people about the benefits of medical food products. According to the Centers for Disease Control and Prevention (CDC), chronic diseases such as heart disease, cancer, and diabetes are the leading causes of death and disability in the United States.

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