The Global Oncology Nutrition Market is expected to reach USD 2.79 Billion by 2027 from USD 1.78 Billion in 2020, at a CAGR of 7.4 %.
Oncology nutrition is a vital part of the entire process of recovering from cancer. Consuming a wide variety of foods and nutritious meals helps in coping with the heavy medication that is a part of cancer treatment. Following well-balanced oncology, nutrition helps in improving strength, maintaining body weight, and assists the body in recovering from cancer.
Malnourishment, caused due to cancer treatment or other related complications, can make patients week or drained. Furthermore, it may lead to disruptions or delays in the cancer treatment and longer hospital stays. Thus, oncology nutrition is one of the most important aspects for fighting against cancer.
Global oncology nutrition market is primarily driven by increasing demand for nutritional feeding in the homecare sector, growing trend towards an enteral mode of nutrition from the parenteral, and increasing incidence of malnutrition in cancer patients. Other major driving factors are developing clinical research in oncology nutrition and increasing number of cancer cases. However, tube feeding-related complications and restricted reimbursement are the major restraints that may limit the growth of the market. Nonetheless, rapid product innovation and advancement of elemental formulas in the field are likely to disclose new avenues for oncology nutrition market in the near future.
One of the most glaring challenges that participants in the oncology nutrition market have had to deal with over several decades is the inadequate and unclear guidelines laid down by authoritative bodies due to which, oncology nutrition remained at the backseat. However, with additional research and growing awareness regarding the benefits of oncology nutrition, the structure within the healthcare systems is evolving. At present, within the oncology nutrition market, clinical nutrition specialists and oncologists are increasingly collaborating with each other in their efforts to improve oncology nutrition and oncology care. At present, recently laid down guidelines from different scientific bodies have focused on some key areas that are expected to improve the adoption of oncology nutrition in the coming years, including regular oncology nutritional therapy particularly for malnourished cancer patients, home artificial nutrition prescription, nutritional management, etc. The new guidelines would offer a boost to the adoption of oncology nutrition in the coming years, as the uptake of improved oncology nutrition therapies for cancer patients undergoing chemo-radiotherapy is on the rise.
Some of the major players operating in the oncology nutrition market include FMC Corporation, Danone, Abbott Laboratories, Aceto, B. Braun Melsungen AG, Baxter International, BioSig Technologies, Fresenius Kabi AG, Global Health Products, Hansen Medical, Hormel Foods, Mead Johnson Nutrition Company, Meiji Holdings, Nestle S.A., and Victus
North America is expected to dominate the global oncology nutrition market due to launch of new oncology nutrition products by key players. For instance, in 2005, Millennium Biotechnologies, a research-based nutraceutical company, launched Resurgex nutritional supplement. This supplement is designed to support immune support and increase energy in cancer patients.
Thus launch of nutritional supplements by key players to enhance and strengthen the immune system as well meet all the nutritional needs of cancer patients is expected to boost growth of the oncology nutrition market.
Asia Pacific oncology nutrition market is expected to witness growth due to increasing awareness campaigns for nutrition of cancer patients. For instance, Singapore Cancer society will be organizing their awareness campaign - Gastric Cancer Awareness 2018, in August 2018.
This campaign mainly focuses on the importance of maintaining good nutrition during and after gastric cancer treatment. Such awareness campaigns are expected to fuel growth of the oncology nutrition market.
Report : Oncology Nutrition Market - By Cancer Type (Head and Neck Cancers, Stomach and Gastrointestinal Cancers, Liver Cancer, Pancreatic Cancer, Esophageal Cancer, Lung Cancer, Breast Cancer, Blood Cancer, Other Cancers) By Geography (North America, Europe, Asia Pacific, Middle East & Africa Rest of the World) Industry Analysis, Opportunity and Forecast 2020 To 2027