Oncology Nutrition Market outlook with industry review and global forecasts | Trends in 2018 by Cancer Type (Head & Neck, Stomach & Gastrointestinal, Liver, Pancreatic, Esophageal, Lung, Breast, Blood) – Global Forecast to 2023
The global oncology nutrition market is projected to reach USD 2.21 Billion by 2023 from USD 1.46 Billion in 2018, at a CAGR of 8.7%. This market is highly consolidated in nature, with the top four players accounting for around 87.4% of the market in 2017. The leading market players are based across developed countries such as the US, Germany, France, and Switzerland. Various small and medium-sized players, operating in both developed and emerging markets, are making this a highly competitive market. In 2017, the market was dominated by Abbott Laboratories (US), Nestle S.A. (Switzerland), Danone (France), and Fresenius Kabi (Germany).
Abbott Laboratories dominated the global oncology nutrition market in 2017. The company offers a strong product portfolio, providing a broad line of pediatric and adult oral and tube feeding nutritional products to a wide end-user base. It has a strong distribution network for its nutritional products, with facilities in about 150 countries across North and South America, Africa, Europe, the Middle East, Asia, and Oceania. The high consumer awareness about its brands, such as Ensure, PediaSure, Similac, and Pedialyte, is among the company’s major strengths. Abbott focuses on product launches as its major growth strategy. Since 2013, the company has launched an exclusive range of nutritional drinks and formulas such as Ensure Enlive, Ensure Surgery Immunonutrition Shake, and Similac Advance. The company also focuses on growth strategies such as expansions to widen its consumer base and strengthen its position in the market. Abbott is investing a significant amount of its revenue towards R&D activities on platforms that span the pediatric, adult, and performance nutrition areas such as gastrointestinal/immunity health, brain health, mobility, and metabolism.
In 2017, Nestlé S.A. was the second-largest player in the market. The company is one of the leading manufacturers of enteral feeding formulas and supplies its products directly to consumers as well as institutions, wholesalers, retailers, and healthcare facilities. The company’s nutritional products range helps address a wide area of health conditions-from pediatric allergies to inborn errors of metabolism as well as from obesity to malnutrition among the elderly. Its strong product offering is attributable to the production capacity of almost a billion science-based nutritional solutions per year across its portfolio. Over the years, the company has grown at a steady pace in this market, with the help of various organic and inorganic growth strategies.
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Some of the other players competing in this market are Danone (France), Fresenius Kabi AG (Germany), B.Braun Melsungen AG (Germany), Mead Johnson Nutrition Company (US), Hormel Foods (US), Meiji Holdings (Japan), Victus (US), and Global Health Products (US).
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