Nutraceutical, a portmanteau of the words “nutrition” and “pharmaceutical”, is a food or food product that reportedly provides health and medical benefits, including the prevention and treatment of disease. Health Canada defines the term as "a product isolated or purified from foods that is generally sold in medicinal forms not usually associated with food. A nutraceutical is demonstrated to have a physiological benefit or provide protection against chronic disease."[1] Such products may range from isolated nutrients, dietary supplements and specific diets to genetically engineered foods, herbal products, and processed foods such as cereals, soups, and beverages. With recent developments in cellular-level nutraceutical agents, researchers, and medical practitioners are developing templates for integrating and assessing information from clinical studies on complementary and alternative therapies into responsible medical practice.[verification needed][dubious – discuss][2] The term nutraceutical was originally defined by Dr. Stephen L. DeFelice, founder and chairman of the Foundation of Innovation Medicine (FIM), Crawford, New Jersey.[3] Since the term was coined by Dr. DeFelice, its meaning has been modified by Health Canada which defines nutraceutical as: a product isolated or purified from foods, and generally sold in medicinal forms not usually associated with food and demonstrated to have a physiological benefit or provide protection against chronic disease. Examples are beta-carotene and lycopene.[4] The definition of nutraceutical that appears in the latest edition of the Merriam-Webster Dictionary is as follows: A food stuff (as a fortified food or a dietary supplement) that provides health benefits.[5] Nutraceutical foods are not subject to the same testing and regulations as pharmaceutical drugs.[3] The American Nutraceutical Association works with the Food & Drug Administration in consumer education, developing industry and scientific standards for products and manufacturers, and other related consumer protection roles.[citation needed] The FDA provides a list of dietary supplement companies receiving warning letters about their products The use of nutraceuticals, as an attempt to accomplish desirable therapeutic outcomes with reduced side effects, as compared with other therapeutic agents has met with great monetary success.[citation needed] The preference for the discovery and production of nutraceuticals over pharmaceuticals is well seen in pharmaceutical and biotech companies.[citation needed] Some of the pharmaceutical and biotech companies, which commit major resources to the discovery of nutraceuticals include Monsanto, American Home Products, Dupont, BioCorrex, Abbott Laboratories, Warner-Lambert, Johnson & Johnson, Novartis, Metabolex, Scio-tech, Genzyme Transgenic, PPL Therapeutics, Unigen, and Interneuron.[7] The nutraceutical industry in the US is about $86 billion. This figure is slightly higher in Europe and, in Japan, represents approximately a quarter of the $6 billion total annual food sales. 47% of the Japanese population consume nutraceuticals.[8] Even without specific financial figures, business reports continually suggest that the market is consistently growing. One possible explanation for the growth of nutraceuticals in the United States is the aging baby-boomer population.[original research?] As the average age of the citizens continues to rise, the population increases its focus on health and wellness. By halfway through the 21st century, there could be almost 142 million Americans over the age of 50, based on a projected population of nearly 400 million citizens.[9] Although the price of some nutraceuticals may drop as generic products make their way into the market, people’s dependence on these products and their increasing availability suggests that the growth of the market shall remain stable.[original research?] Considered a father of Western medicine, Hippocrates advocated the healing effects of food. The Indians, Egyptians, Chinese, and Sumerians are just a few civilizations that have provided evidence suggesting that foods can be effectively used as medicine to treat and prevent disease. Ayurveda,the 5,000 year old ancient Indian health science, have mentioned benefits of food for therapautic purpose. Documents hint that the medicinal benefits of food have been explored for thousands of years.[9] Hippocrates, considered by some to be the father of Western medicine, said that people should “Let food be thy medicine.”[citation needed] The modern nutraceutical market began to develop in Japan during the 1980s. In contrast to the natural herbs and spices used as folk medicine for centuries throughout Asia, the nutraceutical industry has grown alongside the expansion and exploration of modern technology.[10] New research conducted among food scientists show that there is more to food science than what was understood just a couple decades ago.[10] Until just recently, analysis of food was limited to the flavor of food (sensory taste and texture) and its nutritional value (composition of carbohydrates, fats, proteins, water, vitamins and minerals). However, there is growing evidence that other components of food may play an integral role in the link between food and health[citation needed]. These chemical components are derived from plant, food, and microbial sources, and provide medicinal benefits valuable to long-term health. Examples of these nutraceutical chemicals include probiotics, antioxidants, and phytochemicals[citation needed]. Nutraceutical products were considered alternative medicine for many years. Nutraceuticals have become a more mainstream supplement to the diet[dubious – discuss], now that research has begun to show evidence that these chemicals found in food are often effective when processed effectively and marketed correctly.