HST Global recognizes the market for nutraceutical products has been flourishing in recent years and promises a robust growth outlook. According to the latest analysis from Frost and Sullivan,1 growing consumer awareness of nutraceutical benefits coupled with the escalating costs of healthcare are among the key factors shaping this market in North America. This report predicts that the nutraceutical industry in North America is set to "grow consistently." Chief among the factors to consider are the large Baby Boomer population, a population that can be characterized by relative affluence and a keen interest in preventive healthcare.1
With the North American Baby Boomer population standing at 80 million, one out of every three Americans will be age 50 or over by 2010 (the term “Baby-Boomer” typically refers to the generation born roughly between the years 1946 and 1964). These facts, in conjunction with continued advances in age and condition-specific products and technologies bode well for the industry as a whole. There is an especially robust market for nutraceutical products particularly among these older consumers. For example, Nutraceutical Market Research published by the Freedonia Group states that the North American anti-aging product industry is currently $20 billion strong and expected to grow by 8.7 percent annually through 2009.2
HST plans to mature the expansion and development of two unique product lines:
- Physician-formulated nutritional products designed to provide nutritional support for cancer patients and therapies as well as address wellness challenges, and provide nutritional support for preventative maintenance and overall health.
- A Medical Food Line* providing new and novel physician-based therapeutic approaches that positively impact patients with cancer, immune, and degenerative disorders, who are in need of effective, well-tolerated treatments.
* Through a proprietary scientific platform, HST is planning for the development of therapies that address metabolic deficiencies through the application of Medical Foods (FDA-regulated products, in a relatively new category of medical protocols defined by Congress as part of the Orphan Drug Act).
Medical Foods are formulated to be consumed or administered under the direct supervision of a physician and are intended for the specific dietary management of a disease or condition for which distinctive nutritional requirements, based on recognized scientific principles, are established by medical evaluation. Medical Foods can be prescription products, but are different than drugs or dietary supplements (also called nutritional supplements or nutraceuticals) in several aspects, such as their claims. Claims for both Medical Foods and drugs must be supported by solid laboratory and clinical data.
HST’s robust approach to integrative cancer supportive care is intended to provide the best of conventional and integrative therapies and thus, equip patients with a “survivor’s edge” by enhancing quality of life and improving patient outcomes. This approach charts an exciting new future for comprehensive cancer treatment around the world as HST “FIT” Center rehabilitation programs are designed to enable patients to regain and ultimately rebuild their resilience – adding life to years.
REFERENCES:
http://www.freedoniagroup.com/Anti-aging-Products.html
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