The oncology nutrition market in the United States is expected to be worth US$ 412.6 million. The U.S. presently holds 35.62% of the global oncology nutrition market share. Demand for oncology nutrition is predicted to increase in the United States, fueled by rising spending on various cancer medicines.
NEWARK, DE / ACCESSWIRE / September 26, 2022 / The adoption of oncology nutrition is likely to grow at an average CAGR of 8.9% during the forecast period. The oncology nutrition market size is estimated to be valued at US$ 2.04 Bn in 2022 and is projected to be valued at US$ 4.79 Bn by 2032.
The significant increase in nutritional waste and risk among cancer patients is expected to boost the demand for oncology nutrition. Participants in the market environment are currently examining the potential benefits of a multidisciplinary strategy, where concentrated nutrition is believed to be critical to enhancing cancer treatment standards.
Over the estimated period, the oncology nutrition market is expected to benefit from increasing research and development efforts as well as the launch of cutting-edge products for cancer patients. The development of critical formulae and the emergence of new markets are also expected to accelerate the adoption of oncology nutrition and the rate of expansion.
The demand for oncology nutrition is expected to develop further due to the significant increase in the use of nutritional assessment programs, particularly during cancer cachexia and precachexia. Data collection technologies for various patients’ nutritional status have evolved rapidly during the last ten years. These advancements have resulted in the creation of tailored oncology nutrition therapy, which is today recognized as the ideal treatment for cancer patients prone to malnutrition.
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Some important factors expected to fuel the adoption of oncology nutrition in the next years include altering guidelines, increasing observational studies, and increasing the number of clinical trials worldwide. As a result of these factors, the global market for oncology nutrition is expected to reach $3.12 billion by 2027.
Key Takeaways from Oncology Nutrition Market Study
- Throughout the forecast period, the lung cancer segment is expected to lead the oncology nutrition market by cancer type.
- The hospital sector is expected to have the largest proportion of the oncology nutrition market.
- North America is expected to lead the global oncology nutrition market throughout the projected period. This is attributable to a variety of critical variables, including rising cancer incidence and access to cutting-edge healthcare infrastructure.
- In the United States, the oncology nutrition market is estimated to be valued US$ 412.6 million. The United States now controls 35.62% of the global oncology nutrition industry.
- China, the world’s second-largest economy, is expected to have an oncology nutrition market of US$165 million by 2026, representing a CAGR of 10.6% over the course of the study.
- China is expected to remain one of the nations with the fastest growth rates in the APAC oncology nutrition market.
- Latin America is expected to grow at a 7.6% CAGR over the research period, while the Asia Pacific oncology nutrition market is expected to reach US$19.2 million, led by Australia, India, and South Korea.
- The European cancer nutrition market is expected to reach US$182.4 million, with Germany seeing 8.4% annual growth.
“Due to an increase in the number of malnutrition cases, a focus on improving nutritional evaluation among cancer patients also plays an essential role in promoting the growth of the oncology nutrition market.” –FMI Analyst
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Competitive Landscape
The top companies in the global oncology nutrition market are focused on gaining regulatory approvals, producing cutting-edge medicines, launching new products, and partnering with and acquiring other companies. As a consequence of these top competitors’ strategies, the global market for oncology nutrition is expected to grow.
Major firms with great brand recognition, successful competitive strategies, and distribution dominance include B. Braun Melsungen AG, Fresenius Kabi AG, Hansen Medical, Nestle S.A., Abbott Laboratories, Danone, Mead Johnson Nutrition Company.
Latest Developments in the Oncology Nutrition Market:
- Ina, the intelligent nutrition assistant, was created in 2019 by CancerCare in conjunction with Savor Health. The Ina provides individualised, evidence-based nutrition counselling to cancer patients in order to help them eat well and stay nourished during their treatment.
- Fresenius Kabi AG launched mofKabiven extra Nitrogen, a three-chamber bag with a unique protein-to-energy ratio, in Europe in 2018.
- Baxter International Inc. and the American Society for Parenteral and Enteral Nutrition (ASPEN) launched the “SmartPN” tool in October 2018 with the objective of lowering clinical malnutrition.
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Key Segments
By Cancer Type:
- Head & Neck Cancer
- Stomach & Gastrointestinal Cancers
- Blood Cancer
- Breast Cancer
- Lung Cancer
- Other cancers
By End Use:
- Hospitals
- Home Care
- Others
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
Explore FMI’s Extensive Ongoing Coverage on Healthcare Domain
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Oncology Information Systems Market Value: The oncology information systems market is projected to be worth US$ 2.59 Bn by 2022 and is expected to grow to US$5.4 Bn by 2032, at a CAGR of 7.8% from 2022 to 2032.
Generic Oncology Drugs Market Analysis: The global generic oncology drugs market size reached a valuation of US$ 24.5 Bn in 2022 and is expected to grow at a robust CAGR of 6.0% between 2022 and 2028, totaling over US$ 34.8 Bn by the end of 2028.
Clinical Oncology Next-generation Sequencing Market Share: The global Clinical Oncology Next-Generation Sequencing Market is estimated to be worth around US$ 449.4 Mn in 2022.The overall market is projected to expand at a prolific CAGR of 16.3% between 2022 and 2029, reaching a valuation of US$ 1.14 Bn by 2029.
Oncology Apoptosis Modulators Market Trends: Apoptosis is genetically determined process of self-cell destruction of abnormal and damaged cells. If cells of a multicellular organisms are no longer needed, they commit suicide by activating an intracellular death program.
Oncology Adjuvants Market Overview: Oncology Adjuvant treatment is a cancer therapy, which involves cancer treatment after the primary treatment is completed. Oncology adjuvants treatment mainly reduces the reoccurrence of cancer.
Oncology Imaging Software Market Forecast: The rise in the immunocompromised patient population has led to the development of various oral immunostimulant. It includes a group of synthetic and biological compounds to improve defence system of human body.
Orthopedic Oncology Market Volume: Orthopedic oncology accounts for a small proportion in orthopedics. Orthopedic oncology is a condition that arises due to the formation of benign and malignant tumors in bones and connective soft tissues.
Nutrition Therapy Market Demand: Nutrition therapy is the therapeutic approach of treating the disease condition by adopting healthy tailored diet under the supervision of a registered dietician, nutritionist or a physician. Nutrition therapy helps in restoring balance and vitality of an individual.
Immunology-oncology ELISA Kits Market Growth: On the basis of type, the ELISA kits can be divided into direct, indirect, sandwich and competition or inhibition ELISA. Direct ELISA kits are expected to dominate the immuno-oncology ELISA kits market as it gives fast results, involves fewer steps and less prone to error.
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