New York, Jan. 19, 2024 (GLOBE NEWSWIRE) -- The global oncology nutrition market is expected to grow at a rate of 8.9%, reaching a value of US$4.5 billion by 2030, up from US$2.4 billion in 2023.
Ensuring proper nutrition is vital for people undergoing cancer treatment, helping to improve physical strength, cope with therapies, and enhance overall quality of life. In the contemporary oncology nutrition sector, a decline in tolerance to cancer therapy is anticipated to drive the adoption of oncology nutrition products. Additionally, screening and assessment for nutritional status are crucial in identifying individuals at risk of malnutrition.
The COVID-19 pandemic brought attention to the oncology nutrition market, despite significant impacts on healthcare systems. A study published in May 2021 highlighted recommendations for nutritional protocols to manage and prevent complications during the pandemic for all cancer patients. Cancer patients are more vulnerable to illnesses due to immune system suppression or the effects of anticancer medications.
Increasing awareness of the impact of nutrition on cancer outcomes further fuels market growth. Patients and healthcare professionals recognize the importance of comprehensive nutritional care during cancer treatment. Opportunities arise for innovative nutritional products tailored to the unique dietary needs and preferences of oncology patients. The integration of technology, including mobile applications and telehealth platforms, opens new avenues for delivering personalized nutrition support remotely, meeting the evolving needs of cancer patients and shaping a dynamic landscape for the oncology nutrition market.
Elevate your business strategy with comprehensive market data. Request a sample report now: https://www.persistencemarketresearch.com/samples/33730
Market Scope:
| Report Coverage | Details | |
| Market Revenue 2023 | US$2.4 Bn | |
| Estimated Revenue 2030 | US$4.5 Bn | |
| Growth Rate - CAGR | 8.9% | |
| Forecast Period | 2023-2030 | |
| No. of Pages | 186 Pages | |
| Market Segmentation | By Cancer Type, End-use, Region | |
| Regions Covered | North America, Latin America, Europe, South Asia & Pacific, East Asia, The Middle East & Africa | |
| Key Companies Profiled |
| |
Historical Analysis of Oncology Nutrition Market
With advancements in technology and thorough research, the market share of cancer nutrition supplements is expected to grow substantially in the coming years. The need for oncology nutrition is predicted to increase steadily in the coming years, even though the risk of nutritional issues often goes unnoticed.
Given the global rise in malnutrition cases caused by tumors, oncology nutrition remains a critical concern for healthcare professionals. Numerous studies suggest that incorporating malnutrition screening into cancer treatment can improve nutritional assessments and assist patients in preventing malnutrition.
In a nutshell, the Persistence Market Research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the report at - https://www.persistencemarketresearch.com/market-research/oncology-nutrition-market.asp
Market Dynamics:
Drivers
The growth of the oncology nutrition market is fueled by the increasing global prevalence of cancer and the introduction of new oncology nutrition products. An article from BioMed Central Ltd in April 2022 predicts a 20% increase in new cancer cases in Germany by 2030. Furthermore, the AACR Cancer Progress Report 2022 reveals that in the last three years, the number of cancer survivors in the United States has risen by over a million, reaching over 18 million as of January 1, 2022. The use of nutritional products during and after cancer treatment provides the ability to combat the disease and offers strength against treatment-related after-effects, driving market growth.
Restraints/Challenges
High Cost of Specialized Oncology Nutrition Products:
Specialized oncology nutrition products can be costly compared to regular supplements, limiting affordability and accessibility, especially in lower-income regions, thereby restricting market growth.
Limited Reimbursement Coverage
In certain healthcare systems, reimbursement coverage for oncology nutrition products may be limited or non-existent. This can pose challenges for patients and healthcare providers in accessing and utilizing these specialized products, impacting market growth.
This global oncology nutrition market report covers recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyzes opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, and technological innovations. For more information on the global oncology nutrition market, contact Persistence Market Research for an Analyst Brief, and our team will assist you in making informed market decisions to achieve growth.
Opportunities
Advancements in Cancer Treatments
Progress in cancer treatments, including chemotherapy, radiation therapy, and targeted therapies, has increased survival rates. However, these treatments can cause side effects such as appetite loss, taste changes, and difficulty swallowing, creating a demand for specialized nutrition support.
Rising Healthcare Expenditure
Increasing healthcare expenditure, especially in emerging economies, has improved access to cancer treatments and supportive care services, contributing to the growth of the global oncology nutrition market.
Market Segmentation
Most Prevalent Cancer Type:
Breast Cancer Takes the Lead
The dominant category in the oncology nutrition market is breast cancer. This is because breast cancer is highly widespread globally, making it the most commonly diagnosed cancer among women. Patients undergoing breast cancer treatment often encounter challenges like weight loss, malnutrition, and specific dietary considerations due to the impact of therapies on appetite and metabolism. Additionally, the fastest-growing category in the oncology nutrition market is lung cancer. The rapid growth of lung cancer in this market is driven by the increasing incidence of lung cancer cases globally and the recognition of the profound impact of nutrition on treatment outcomes and the quality of life for lung cancer patients.
Leading End Use Segment:
Hospitals and Clinics Lead as Primary Diagnosis Centers
Hospitals and clinics emerge as the dominant end-use category in the oncology nutrition market for various pivotal reasons. These healthcare settings serve as primary centers for cancer diagnosis, treatment, and post-treatment care, handling a substantial patient load. The integration of specialized oncology nutrition within these healthcare settings is crucial for addressing the nutritional needs of cancer patients undergoing various treatments. Furthermore, home care emerges as the fastest-growing category in the oncology nutrition market. The trend towards personalized and patient-centric care, along with advancements in home healthcare services, propels the demand for oncology nutrition in home care settings. Patients undergoing cancer treatments increasingly prefer the comfort and familiarity of their homes.
Regional Analysis
North America Oncology Nutrition Market Outlook:
Anticipated Leadership with Increased Incidence and Advanced Healthcare Infrastructure
North America is expected to lead the global oncology nutrition market throughout the forecast period. Several crucial factors contribute to this, including the increased incidence of cancer and the accessibility of cutting-edge healthcare infrastructure.
The oncology nutrition market in the United States is projected to be valued at around US$ 412.6 million. According to statistics from the American Cancer Society, there will likely be 1.9 million new instances of cancer in the United States this year.
Europe Oncology Nutrition Market Expansion:
Active Awareness Programs Drive Growth
The market in Europe is expected to reach a value of US$ 0.55 billion by the end of 2033. Government programs, new product introductions, and partnerships in cancer nutrition supplements contribute to market expansion. For instance, the 2022 Oncology Nutrition Symposium was held in June 2022 by the Academy of Nutrition and Dietetics.
The market in the United Kingdom is poised to witness an annual growth rate of 8.3% between 2023 and 2033.
Competitive Intelligence and Business Strategy
Leading organizations like Aceto, B. Braun Melsungen AG, Baxter, and Fresenius Kabi AG play a crucial role in the competitive oncology nutrition market. Staying ahead in this sector requires smart competitive intelligence practices. Companies must consistently gather, analyze, and understand data about their market rivals, emerging nutritional trends, and changing patient preferences. Thorough competitive intelligence empowers firms to predict changes in the market, identify unique opportunities, and tailor their products to meet the specific demands associated with different types of cancer.
It's essential to keep a close eye on what competitors are doing, their clinical research initiatives, and the partnerships they are forming. As nutritional interventions become more personalized, using competitive intelligence helps companies align their products with evolving patient-centered approaches. This fosters innovation and helps maintain a strategic advantage in this dynamic and rapidly evolving healthcare market.
Developing a strong business strategy is crucial for success in the oncology nutrition market. Companies should align their strategies with the growing focus on personalized nutrition, with a particular emphasis on cancer-specific nutritional interventions. Prioritizing research and development to create specialized nutritional products for various cancer types strategically positions companies. Collaborating with healthcare institutions, oncology clinics, and research organizations also enhances market penetration.
Recent Developments in the Oncology Nutrition Market
July 2022: Nestle launched China's first Foods for Special Medical Purpose (FSMP) for patients suffering from tumor-related conditions, after going through a five-year-long approval process from the Chinese regulator.
January 2022: Faeth Therapeutics closed a USD 47 million Series A round of private financing led by S2G Ventures, bringing total funding to date to USD 67 million. The financing will be used to advance Faeth's clinical trials, which use a combination of nutrient control, drugs, and digital tools to halt cancer growth.
Key Questions Answered in the Report:
- What are the contributing factors to the market's growth trends?
- What is the current market size, and how is it expected to change in the upcoming years?
- What are the key elements exerting influence on the market?
- How is the Oncology Nutrition market segmented, considering types, applications, fuels, or other relevant factors?
- Who are the major participants in the Oncology Nutrition market?
- What strategies are these players employing to establish a competitive edge?
- What factors are propelling the expansion of the Oncology Nutrition market?
- Which regions are anticipated to witness notable growth, and what are the driving factors behind it?
- What recent technological advancements are impacting the Oncology Nutrition industry?
About Persistence Market Research:
Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges.
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Contact
Persistence Market Research
Teerth Technospace, Unit B-704
Survey Number - 103, Baner
Mumbai Bangalore Highway
Pune 411045 India
Email: sales@persistencemarketresearch.com
Web: https://www.persistencemarketresearch.com
