Food for Special Medical Purpose (FSMP) Market Size, Share and Global Trend by Type (Nutritionally Complete Foods, Nutritionally Complete Foods with A Disease,Nutritionally Incomplete Foods), By Form (Oral, Injectable, Others), By End User (Hospitals, Clinics, Ambulatory Surgical Centers, Homecare Settings), and Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Food For Special Medical Purposes can incorporate defined dietary items aiming for utilizing as the only source of nutrition, additionally a few formulated products that can supplement a person’s food intake. A few of these items can be taken orally, whereas others are taken through a feeding tube (e.g. a nasogastric tube). They are to be utilized under the supervision of a medical specialist and other suitable health experts.
Food for uncommon medical purposes does not include newborn child formula products, total parenteral nourishment products that are given intravenously, or products formulated and represented as being for the dietary administration of weight or overweight. Recently, Nestle invested around US$ 152.0 Mn in the production of the food for special medical purposes in China citing the growing demand for food for special medical purpose in Asia Pacific.
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Rise in the unhealthy lifestyle, increasing the prevalence of congenital metabolic diseases, gastrointestinal disease is some of the factors driving the growth of the global food for special medical purposes market. Additionally, development in the healthcare sector, initiatives were taken by the government and private organization towards the development of the specialized food according to the requirement of the patients are some of the factors driving the growth of the Global Food For Special Medical Purposes Market.
The factor that is expected to inhibit the growth of the market is the high cost of specialized food, lack of inadequate reimbursement policies and unawareness among the patient pool in the emerging countries.
Key Players Covered
Some of the major companies that are present in the global Food for Special Medical Purpose (FSMP) market are LENUS Pharma GesmbH, GFI - Gruppo Farmaimpresa, Darman Ara Corporation, Nestle, Danone India, Guangzhou New Health Biotechnology Co., Ltd, Mead Johnson & Company, LLC and others.
SEGMENTATION
SEGMENTATION | DETAILS |
By Type | · Nutritionally Complete Foods · Nutritionally Complete Foods with A Disease · Nutritionally Incomplete Foods |
By Form | · Oral · Injectable · Others |
By End User | · Hospitals · Clinics · Ambulatory Surgical Centers · Homecare Settings · Others |
By Geography | · North America (USA and Canada) · Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe) · Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific) · Latin America (Brazil, Mexico and Rest of Latin America) · Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa) |
At present, nutritionally complete food with a disease is expected to have higher share by the end of the forecast period.
Key Insights
- Pipeline analysis
- The regulatory scenario for key countries
- Reimbursement Scenario for key countries
- Key mergers and acquisitions
- Key start-ups with their funding overview
Regional Analysis
Among the region, North America accounted for the largest share of the global food for special medical purposes market in 2018. Adoption of a healthy lifestyle, technological advancement and high investment by key players in the production of food for special medical purposes has increased the demand for the food for special medical purposes in the region. The National Organization for Rare Diseases (NORD) has been formed to help and promote research into the dietary restrictions and requirements for diseases, as well as to enable third-party insurance payments for the special medical foods. Asia Pacific is expected to have comparatively higher CAGR in the forecast period, due to high malnutrition rate leading to many diseases, and high investments by the market players in the production of the food for special medical purposes in the region.
Key Industry Developments
- In March 2018, Mead Johnson & Company, LLC., received approval in China for the lacto protein partial hydrolysis formula of Qinshu infant formula milk powder for special medical use.
- In February 2018, SHS International Ltd., a subsidiary of Danone S.A., received approval for the phenylketonuria formula of Newbery infant formula milk powder for special medical use in China.
- In February 2018, Hangzhou Beingmate Maternal and Child Nutrition Co. Ltd. received approval for Lactose-free formula of Beingmate infant formula food for special medical use.
- Ongoing
- 2023
- 2019-2022
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