That is based on Yan Ting Yan who joined the diet big final yr. She was talking on the seventh FSMP discussion board organised by the China Chamber of Commerce For Import & Export Of Medicines & Well being Merchandise (CCCMHPIE) on June 20, the place she analysed the FSMP market in China.
The discussion board was held concurrently with the Healthplex Expo and Pure & Nutraceutical Merchandise China 2023 in Shanghai.
In China, FSMPs are meant for offering dietary assist to people affected by a selected illness, dysfunction, or a medical situation.
As of Might 30, 115 FSMPs from 39 corporations have been authorised by the Chinese language authorities, based on China Diet and Well being Meals Affiliation.
Previous to yr 2020, most FSMPs authorised have been manufactured by abroad companies however since then, extra have been coming from the home market.
In opposition to this backdrop, Yan believes that China’s FSMP sector is poised for additional development.
“It’s these 100 over merchandise that held up the FSMP sector that’s value RMB$14bn (US$1.94bn). What does this imply? Because of this every product is value over RMB$100m (US$13.9m), which is a spectacular quantity, and in addition goes to point out that it is a sector to be careful for,” she stated, citing knowledge from Transparency Market Analysis.
Including that the market demand for FSMP is large, she identified that the dearth of fine diet, which signifies that hospital sufferers can be the important thing client group for the FSMP market.
“Lack of fine diet is the reason for mortality in hospitals and who’re those missing good diet essentially the most?
“It’s the hospital sufferers and people affected by tumour associated situations,” she stated, including how hospital nutritionists and pharmacies can be instrumental in recommending and promoting FSMPs to the customers.
“The FSMP market additionally grew quickly in COVID-19 as a result of public bought to recognise that medical meals is nice. For instance, protein FSMPs might be used to cut back danger of surgical procedure issues and infections.”
Nonetheless, there stays excessive obstacles of entry into the FSMP sector in China.
Citing the instance of the corporate’s product, Oral Impression Su Yi Su, she stated the agency spent a couple of years in securing its approval as a FSMP, though the formulation was beforehand authorised on the market as a medication within the nation.
The product, launched final yr as a FSMP, is designed for sufferers affected by tumour-related situations and is claimed to the primary of its form in China.
Containing arginine, fish oil omega 3, and nucleotide on high of different fundamental dietary elements, it was formulated to handle irritation and compromised immunity in sufferers.
“There are excessive obstacles of entry into China’s FSMP sector. Su Yi Su took a couple of years to be authorised as a FSMP though it was beforehand offered in China’s hospital pharmacies as prescription drug earlier than yr 2013 for about 10 years.
“Additionally it is offered abroad for over 30 years and is backed by greater than 80 medical trial proof involving 6,000 people.
“Even so, we spent about three years in getting the FSMP approval for this product. And so, for a lot of home corporations that are beginning their FSMP enterprise from scratch, I consider this might be an arduous course of for them,” she stated.
Execs and cons for pharma companies
Through the discussion board, China Diet and Well being Meals Affiliation’s vice secretary common Guo Hai Feng additionally stated that pharmaceutical corporations may faucet on their experience in increasing China’s FSMP market.
“Pharmaceutical companies may faucet on their varied strengths. For instance, they’ve the know-how and retail power throughout hospitals. They’ve the capital and technical functionality to develop FSMPs and so they have the model energy to take action,” he stated.
Nonetheless, he cautioned pharmaceutical companies to be aware of their weaknesses, comparable to the dearth of regulatory data for FSMP.
