[2020-2026] Food for Special Medical Purpose Market Size, Share, Growth, Trends, Research Analysis, Competitive Landscape, Forecast Report

Pune, Sept. 28, 2020 (GLOBE NEWSWIRE) — Increasing adoption of unhealthy lifestyles around the world is likely to be the key growth driver of the global food for special medical purpose market size in the forthcoming years. According to the World Health Organization (WHO), around 16 million disability adjusted life years (DALYs) and 2.8% of annual global deaths are caused by inadequate intake of fruits and vegetables. A sufficient consumption of fruits and vegetables prevents the risk of a vast spectrum of gastrointestinal disorders along with other chronic conditions.These numbers indicate that today people are at a much greater risk of contracting various lifestyle-related diseases and this will be one of the central food for special medical purpose market trends. Unhealthy diet regimes are compounded by a rising prevalence of smoking, especially among the working population around the world. As a result, a higher number of people are vulnerable to chronic metabolic disorders, heightening the need for FSMP products.According to the European Commission, food for special medical purpose (FSMP) are foods medically supervised and administered to individuals who are suffering certain recognized diseases or disorders. These foods are only meant for patients whose nutritional requirements cannot be met by regular food items, for example, amino acid metabolism disorder formula food for infants between the ages of 0 to 12 months.
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Highlights of the Report:Analysis of the impact of Covid-19 that the market would face in the near future.In-depth analysis of the growth drivers and obstacles.Profile of all the companies operating in the market.Elaborate data about the dominating region.Competitive landscape consisting of mergers & acquisitions, investments, partnerships, new product launches, opening of new facilities, and new contracts.
Increased Global Spending on Healthcare to Favor GrowthHealthcare spending has become one of the highest priorities for governments across the globe, resulting in a collective effort to elevate the health status of populations, especially in underdeveloped and developing countries. The WHO revealed that in 2016, around USD 7.5 trillion were spent on healthcare, accounting for 10% of the world GDP. It also found that total healthcare expenditure grew at a faster rate in low and middle-income countries than in developed countries.Since high cost is one of the limiting factors for FSMPs, higher government spending on such items can make them more accessible to low income groups where malnutrition has given rise to complex gastrointestinal disorders. Thus, steadily climbing public expenditure on health will bode well for the FSMP market revenue in the coming decade.The whole world is fighting the novel coronavirus. Sectors and industries are divested due to the major loss caused by COVID-19 in business. The authorities of several countries have initiated lockdown to prevent the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
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North America to Hold a Commanding Position; Asia-Pacific to Register Healthy GrowthNorth America is anticipated to dominate the food for special medical purpose market share mainly owing to growing prevalence of sedentary lifestyle among the people in the region. Furthermore, organizations such as the National Organization for Rare Diseases is promoting research into FSMP to meet the unusual dietary requirements of people living with severe metabolic disorders. High incidence of malnutrition in the developing nations of Asia-Pacific will be the main propeller of the FSMP market growth in the region.Product Diversification to Characterize CompetitionCompetition in this market is set to intensify on account of key players adopting strategies to strengthen their position. The prime measure undertaken by players for this purpose is the launching of new products in markets outside their territorial boundaries. This not only expands their geographical reach, but also widens their product offerings.
Key Industry Developments:July 2018: Nestlé’s PreNAN infant milk formula for low birth weight and pre-term infants was included by the State Administration for Market Regulation of China in its Food for Special Medical Purpose list.August 2017: Danone India introduced its renowned FSMP product, Neocate, in India. It is an amino acid-based formula and hypoallergenic food item to manage Cow’s Milk Allergy in young children as well as infants.  
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Prominent Players in Food for Special Medical Purpose Market:Gruppo FarmaimpresaDanone IndiaLENUS Pharma GesmbHMead Johnson & Company, LLC NestleGuangzhou New Health Biotechnology Co., LtdDarman Ara Corporation
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Food for Special Medical Purpose Market Segmentations:By Type •              Nutritionally Complete Foods•              Nutritionally Complete Foods Specific to the Disease Condition•              Nutritionally Incomplete Foods (Components)By Route of Administration             •              Oral•              Injectable•              Others.By Age Group      •              0-12 months (Infants)•              More than 1-year-oldBy 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 the Middle East & Africa)
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