For a long time, the cure for diabetes type 1 and type 2 has relied on agonizing insulin shots for patients or insulin infusion via mechanical pumps. Regarding this, experts have been creating artificial pancreatic beta cells with the he…
“The oncology nutrition market is projected to grow at a CAGR of 8.7% between 2018 and 2023.”
The oncology nutrition market is expected to reach USD 2.21 billion by 2023 from USD 1.46 billion in 2018, at a CAGR of 8.7%. The overall growth of the market is largely driven by the shifting focus from parenteral to enteral nutrition, 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. The development of elemental formulas and product innovation in this field also provides significant growth opportunities in this market. However, the complications associated with tube feeding and limited reimbursement represent significant challenges to the market growth.
“The head and neck cancers segment is expected to grow at the fastest rate during the forecast period.”
Based on cancer type, the oncology nutrition market is segmented into head & neck cancers, stomach & gastrointestinal cancers, pancreatic cancer, liver cancer, esophageal cancer, lung cancer, breast cancer, blood cancer, and other cancers. The head & neck cancers segment is expected to grow at the highest CAGR during the forecast period. This is primarily attributed to the increasing incidence of head and neck cancers across the globe. Such patients see the major use of feeding formulas as severe conditions such as mucositis, xerostomia, dysgeusia, nausea, and vomiting limit their nutritional intake.
“APAC to witness the highest growth during the forecast period.”
Geographically, the oncology nutrition market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2017, North America commanded a major share of the oncology nutrition market. However, Asia Pacific is expected to witness the highest growth during the forecast period. The significant growth of the Asia Pacific market is mainly attributed to the growing prevalence of chronic diseases & disorders, increasing number of preterm births, rising geriatric population, and increasing healthcare expenditure.
Break of primary participants:
- By Company Type – Tier 1: 48%, Tier 2–34%, and Tier 3–18%
- By Designation – C-suite: 32%, Director and Manager Level: 48%, and Executives and Others: 20%
- By Region – North America: 36%, Europe: 27%, Asia Pacific: 21%, and the Rest of the World: 16%
The players competing in this 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).
Research Coverage:
The report analyzes the various types of nutritional formulas for cancer in the market and their adoption patterns. It aims at estimating the market size and future growth potential of the oncology nutrition market for different cancer types and region. The report also includes in-depth company profiles of the key players in this market along with their product offerings, recent developments, and market strategies.
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, will help firms in garnering a greater market share. Firms purchasing the report could use any one or combination of the below-mentioned four strategies for strengthening their market position.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the oncology nutrition market
- Product Development/Innovation: Detailed insights on the research and development activities and new product launches in the oncology nutrition market
- Market Diversification: Exhaustive information about new products, growing geographies, recent developments, and investments in the oncology nutrition market
- Competitive Assessment: In-depth assessment of growth strategies, products, and manufacturing capabilities of leading players in the oncology nutrition market.