Amid the COVID-19 crisis, the global market for Oncology Nutrition estimated at US$1.1 Billion in the year 2021, is projected to reach a revised size of US$3.14 Billion by 2027, growing at a CAGR of 8.9% over the analysis period.
Malnutrition triggered by cancer treatment is the most common side-effect among cancer patients. Specifically, malnutrition is more prevalent among individuals with digestive cancers or head and neck cancers.
Head & Neck Cancer, one of the segments analyzed in the report, is projected to grow at a 7.8% CAGR to reach US$472.2 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Stomach & Gastrointestinal segment is readjusted to a revised 10.9% CAGR for the next 7-year period. This segment currently accounts for a 22.9% share of the global Oncology Nutrition market.
Continuously increasing number of cancer patients is posing serious healthcare challenges for various countries. Several healthcare professionals consider inappropriate diet as well as inactive lifestyle for approximately 85% of global cancer cases. On the other hand, obesity and food attributes for 35% as well as 30% of all cancer related deaths, respectively.
Consuming large quantities of nutritious food significantly improve stamina and strength of patients undergoing cancer treatment. Owing to their abilities to prevent growth of cancer cells, demand for nutritional food is witnessing an upward momentum. Propelled by rising popularity of homecare nutritional products, the global market for oncology nutrition is exhibiting robust growth.
In order to tap the available opportunity, companies are devising a broad range of innovative strategies. Hospitals, retail pharmacies, and online pharmacies are some of the major end-users of oncology nutrition segment. Hospitals currently account for majority of share in the global oncology nutrition market, due to constantly increasing number of cancer patients. In order to ensure timely treatment, various leading global healthcare providers are now constructing high-end cancer diagnosis and care centers.
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The U.S. Market is Estimated at $412.6 Million in 2021, While China is Forecast to Reach $165 Million by 2026
The Oncology Nutrition market in the U.S. is estimated at US$412.6 Million in the year 2021. The country currently accounts for a 35.62% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$165 Million by the year 2026 trailing a CAGR of 10.6% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.4% and 7.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.4% CAGR while Rest of European market (as defined in the study) will reach US$182.4 Million by the close of the analysis period.
The entire market for oncology nutrition negates a highly important cancer nutrition element, which is the patient`s daily dietary regimen. Even though nutritional formulas and nutraceuticals are great items for selling with their respective beneficial impacts on a patient`s nutritional status, only a handful of such producers and marketers are actually interested in educating patients on a healthy diet`s importance in the long-run. Nevertheless, suppliers are already providing those items needed for short-term gain and patients too, prefer quick fixes.
- FMC Corporation
- Danone India
- B. Braun Melsungen AG
- Fresenius Kabi AG
- Global Health Products, Inc.
- Hormel Foods Corporation
- Mead Johnson & Company, LLC
- Meiji Holdings Co., Ltd
- Nestlé S.A.
- BioSig Technologies, Inc.
- Auris Health, Inc.
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By Cancer Type
- Head & Neck Cancer
- Stomach & Gastrointestinal Cancers
- Blood Cancer
- Breast Cancer
- Lung Cancer
- Other cancers
By End Use:
- Home Care
- North America
- Rest of Europe (RoE)
- Asia Pacific
- Latin America
- Middle East and Africa
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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