Oncology Nutrition Market : Technological Advancements in the Field of Oncology Nutrition

Author: Rajat Sharma

According to the new market research report by MarketsandMarkets, the oncology nutrition market was valued at USD 1.34 Billion in 2017 and is expected to reach USD 2.21 Billion by 2023, at a CAGR of 8.7% during the forecast period.

Factors such as 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 are driving the market growth.

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Factors such as the development of elemental formulas and product innovation in terms of non-GMO-based formulas present significant opportunities for the growth of oncology-based nutrition formulas.

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
  • To track and analyze competitive developments such as mergers and acquisitions; new product launches; expansions; collaborations and agreements; and R&D activities of the leading players in the global oncology nutrition market

Region Covered in Oncology Nutrition Market :

Geographically, 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.

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The report analyzes the oncology nutrition market by type of cancer and region. 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.

Although, tube feeding is an effective and cost-efficient option for providing clinical nutrition, certain complications associated with the use of these devices can result in additional healthcare costs. Also, the limited reimbursement associated with its use pose significant restraint for greater adoption of these feeding formulas.

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Key Players in Oncology Nutrition Market :

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).