Medical Foods for Inborn Errors of Metabolism Market Size 2031
The Medical Foods for Inborn Errors of Metabolism Market Size was estimated to be US$ 2.98 billion in 2021 and US$ XX billion in 2023 and is expected to reach US$ 9.76 billion by 2031; it is estimated to record a CAGR of 13.4% in till 2031. Growing online distribution platforms are likely to remain key Medical Foods for Inborn Errors of Metabolism Market Trends.
Medical Foods for Inborn Errors of Metabolism Market Analysis
Inborn errors of metabolism refer to inherited disorders that are a result of mutations in genes coding for proteins functioning in metabolism. The inborn errors of metabolism are a heterogeneous group of disorders and are likely to be inherited through spontaneous mutation. The diseases usually involve failure of metabolic pathways that are either involved in breakdown or storage of biomolecules such as carbohydrates, proteins, and fatty acids. According to the National Center for Biotechnology Information (NCBI) in July 2023, inborn errors occur in 1 among 2,500 births making them significantly common across the world. A few commonly occurring inborn errors of metabolism include phenylketonuria (PKU), maple syrup urine disease, galactosemia, and fructose intolerance. Medical foods for inborn errors of metabolism act as nutritional treatment for patients with limited or compromised capacity to ingest, digest, absorb, or metabolize ordinary foods or nutrients. Thus, the increasing incidence of these diseases worldwide is expected to augment the demand for medical foods for inborn errors of metabolism, thereby supporting the market growth.
Medical Foods for Inborn Errors of Metabolism Market Overview
North America is the largest market for medical foods for inborn errors of metabolism market, with the US holding the largest market share, followed by Canada. The growth of the market in the US is driven by factors such as, the rising prevalence of inborn errors of metabolism, increasing newborn screening, and availability of a wide range of medical food for varied metabolic errors. Similarly, in Canada, increasing government initiatives to raise awareness regarding rare genetic disorders and well-established healthcare infrastructure are leading to market growth.
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Medical Foods for Inborn Errors of Metabolism Market: Strategic Insights
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 Forecast Period 2020-2027 Base Year 2020
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Medical Foods for Inborn Errors of Metabolism Market: Strategic Insights
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 |
Forecast Period | 2020-2027 |
Base Year | 2020 |
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Speak to AnalystMedical Foods for Inborn Errors of Metabolism Market Drivers and Opportunities
Government Initiatives and Programs for Creating Awareness About Inborn Errors of Metabolism to Favor Market
Australian Government launched The Inborn Errors of Metabolism (IEM) program, which helps people and families who have problems breaking down protein in their food. They need a special diet, and the IEM program helps them pay for their specialized food. This initiative is important because people with an IEM need low-protein, high-fat, and phenylalanine-free diets. These foods are very expensive. The money is used to buy these foods, so they stay on their diets and stay healthy. Thus, growing such initiatives by governments to create awareness about inborn errors of metabolism is a major driver of global inborn errors of metabolism market share.
Developing Healthcare Industry Worldwide– An Opportunity
The healthcare industry has been witnessing rapid transformations during the previous years. Countries across the globe have preferred advanced solutions that are simple to use and effective in healthcare. With a need for better healthcare facilities, technology-enabled care (TEC) solutions are being preferred in the healthcare systems in emerging economies. Increase in the aging population, incidences of chronic illnesses, and lack of pediatric care, as well as genetic disorders, are likely to be the primary factors driving the growth of the healthcare industry.
Various established players in the industry have been investing significant amounts of their revenue in R&D activities for the development of better and advanced solutions to cater the increasing needs of their customers. Also, the availability of reimbursement for various medical foods increasing these days is expected to fuel the growth of the industry in the coming years. With regulations laid down by the government bodies, it is possible to obtain better and reliable health management solutions, ensuring quality care, patient safety, and disease management. For instance, In July 2023, The Food and Drug Administration (FDA) has released a revised draft guidance for the industry on optimizing and standardizing diet in clinical trials for drug product development. The guidance is titled "Inborn Errors of Metabolism That Use Dietary Management: Considerations for Optimising and Standardizing Diet in Clinical Trials for Drug Product Development." This guidance sets out the FDA's current recommendations for developing drug products that treat inborn errors of metabolism (IEM) where dietary management is a crucial part of patients' metabolic control. The FDA believes that optimizing and standardizing dietary management in these patients before and during clinical trials is vital to ensure an accurate evaluation of the efficacy of new drug products. The increasing focus towards preventive health and adoption of easy treatment options such as medical foods and nutritional supplements for the management of various metabolism associated diseases acquired during the birth are likely to offer opportunistic scenario for the growth of the market over coming years.
Medical Foods for Inborn Errors of Metabolism Market Report Segmentation Analysis
Key segments that contributed to the derivation of the medical foods for inborn errors of metabolism market analysis are product, age group, disease, form, packaging, distribution channel.
- 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, Others. The Amino Acid segment held a largest market share in 2023.
- By age group, the market is segmented into infants, weaning, adolescent, adults. The infants segment held the largest share of the market in 2023.
- In terms of disease, the market is segmented into Phenylketonuria(PKU), Maple syrup urine disease(MSUD), Homocystinuria, Urea Cycle Disorders , Methylmalonic Acidemia, Organic Acidurias, Propionic Acidemia, Isovaleric Acidemia, Disorders of Leucine Metabolism, Glutaric Acidemia Type I, Renal Disease, Tyrosinemia Types I and II, Others). The PKU segment dominated the market in 2023.
- In terms of form, the market is segmented into powder, liquids, gels, others. The powder segment dominated the market in 2023.
- In terms of packaging, the market is segmented into can, jar, packets, bottle, others. The can segment dominated the market in 2023.
- In terms of distribution channel, the market is segmented into retail pharmacies, hospital pharmacies, online pharmacies, drug stores, others. The hospital pharmacies segment dominated the market in 2023.
Medical Foods for Inborn Errors of Metabolism Market Share Analysis by Geography
The geographic scope of the medical foods for inborn errors of metabolism market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
North America has dominated the medical foods for inborn errors of metabolism market. The market for medical foods for inborn errors of metabolism (IEMs) in the US holds the largest share among the countries of North America. Several government bodies in the country are engaged in establishing comprehensive guidelines for the management of IEMs. For instnace, in December 2023, the FDA announced the creation of a new advisory committee that will focus on potential treatments for genetic metabolic diseases. The committee, called the Genetic Metabolic Diseases Advisory Committee, will offer independent and knowledgeable advice and recommendations to the FDA on technical, scientific, and policy issues pertaining to medical products for genetic metabolic diseases. The members of the committee will evaluate evidence related to the applications brought before them and provide their recommendations for FDA consideration. The committee will comprise experts in the areas of management of inborn errors of metabolism, metabolic genetics, small population trial design, epidemiology, statistics, translational science, pediatrics, and other related specialties. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Medical Foods for Inborn Errors of Metabolism Market Report Scope
Medical Foods for Inborn Errors of Metabolism Market News and Recent Developments
The medical foods for inborn errors of metabolism market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for medical foods for inborn errors of metabolism:
- In October 2022, Galen launched TYR EASY Tablets, which is the first solid-dose protein substitute option for tyrosinaemia, in the UK market. The tablets are specifically designed to support dietary management for patients over the age of 8 with tyrosinaemia (TYR), providing them with more options for protein substitutes that best match their daily needs. (Source: Galen, Press Release, 2022)
- In December 2021, SFI Health announced the launch of two new medical foods in the US: EQUAZEN PRO and Ther-Biotic PRO IBS Relief. Both medical foods have been made from clinically-proven ingredients and have undergone extensive testing in clinical studies to assess their safety and effectiveness. EQUAZEN® PRO helps rebalance omega fatty acid levels, while supporting healthy fatty acid metabolism. (Source: SFI Health, Press Release/Company Website/Newsletter, 2021)
Medical Foods for Inborn Errors of Metabolism Market Report Coverage and Deliverables
The “Medical Foods for Inborn Errors of Metabolism Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment 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
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.