Factors such as the shift from parenteral to enteral nutrition along with the increasing incidence of cancer, growing demand for nutritional feeding in the homecare sector, rising number of patients being treated for malnutrition, and increasing quality of clinical research on nutritional interventions are driving the growth of the Oncology Nutrition Market. Furthermore, the development of elemental formulas and product innovation in terms of non-GMO-based formulas present significant opportunities for the growth of excipients|
What the Market Looks Like?
Predicted to grow at a CAGR of 8.7% during the forecast period, the Oncology Nutrition Market was valued at USD 1.34 Billion in 2017 and is expected to reach USD 2.21 Billion by 2023.
Based on cancer type, the head and neck cancers segment accounted for the largest share of the market in 2017. Patients with head and neck cancers suffer from severe problems associated with oral nutritional intake. Thus, the enteral route is used for nutrition support. With the increasing number of such cancer’s cases, the uptake of tube feeding formulas has increased. Also, conditions such as severe mucositis, xerostomia, dysgeusia, and nausea & vomiting limit nutritional intake, adding to the adoption of oncology nutritional feeding formulas.
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Objectives of the Study:
• To define, describe, segment, and forecast the Oncology Nutrition Market for different types of cancer
• To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, and industry-specific opportunities)
• To forecast the size of the Oncology Nutrition Market, in four main regions —North America (along with countries), Europe (along with countries), Asia Pacific, and the Rest of the World
• To identify and profile key players in the global Oncology Nutrition Market and comprehensively analyze their core competencies and market shares
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Geographical growth scenario of Oncology Nutrition Market:
The Oncology Nutrition Market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2017, North America accounted for the largest share of this market. However, the Asia Pacific region is expected to witness the highest CAGR during the forecast period of 2018 to 2023. The growth of this segment can be attributed to the increased awareness and accessibility to advanced healthcare facilities, rising healthcare spending, large population base, and rapid improvements in the health insurance sector.
Leading market players and strategies adopted:
The major players in the Oncology Nutrition Market are Abbott Laboratories (US), Nestle S.A. (Switzerland), Danone (France), Fresenius Kabi AG (Germany), and B.Braun Melsungen AG (Germany). The other players in this market include Mead Johnson Nutrition Company (US), Hormel Foods (US), Meiji Holdings (Japan), Victus (US), and Global Health Products (US).
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