Oncology Nutrition Market

Global Oncology Nutrition Market Size (2023 to 2028)

The global market size for oncology nutrition is estimated to be worth USD 2.08 billion by 2028 from USD 1.33 billion in 2023, growing at a CAGR of 9.33% from 2023 to 2028.

The unregulated proliferation of aberrant cells characterizes cancer, and these cells are referred to as tumor cells or malignant cells. Oncology is the branch of medicine dealing with cancer prevention, treatment, and analysis. Oncology nutrition refers to the nutrition and food of cancer patients who are undergoing treatment or have completed therapy. Nutrition is a vital supportive therapy during cancer treatment and plays a significant impact in numerous areas of cancer development. An appropriate diet can aid cancer patients in maintaining their weight and body composition, resulting in improved recovery and a higher quality of life. Oncology Nutrition is a step-by-step active integrative space where cancer is examined as a general and native ailment that begins with alterations in the ordination and progresses through a multi-step procedure that can be influenced at multiple points in its explanation by biological process factors that influence the interference of cancer, the standard of life of cancer patients, and thus the risk of cancer recurrence within the rapidly.

Impact of COVID-19 on the global oncology nutrition market:

Due to lockdowns, travel bans, and commercial shutdowns, COVID-19 has negatively impacted economies and businesses in several countries. The shutdown of several plants and factories has wreaked havoc on global supply chains, causing manufacturing, delivery schedules, and product sales to be disrupted globally. A few companies have already said that product deliveries may be delayed, and future sales may suffer. In addition, because of the current pandemic, demand for oncology nutrition has declined. Due to imposed restrictions, people cannot receive cancer treatment in hospitals. Furthermore, worldwide travel prohibitions implemented by countries in Europe, Asia, and North America harm commercial cooperation and partnership opportunities. However, the market is projected to regain the lost growth potential soon and register healthy growth during the forecast period.

MARKET DRIVERS:

The usage of nutritional supplements before and after cancer treatment provides the ability to fight disease and strength and stamina to combat the treatment's side effects, which is propelling the global oncology nutrition market forward.

A few other factors are projected to boost the expansion of the oncology nutrition market, including increasing demand for nutrition products for oncology in homecare settings and growing demand for enteral nutrition products. The rise in cancer prevalence is another primary factor favoring the growth of the global oncology nutrition market.  A significant increase in nutritional waste and nutritional risk among cancer patients is expected to propel the oncology nutrition market forward during the forecast period. The global oncology nutrition market is further estimated to be growing due to an increase in the incidence of malnutrition. Poor eating habits in industrialized countries and a high poverty rate in developing regions are significant reasons for malnutrition.

Participants in the current market landscape are looking at the potential benefits of taking a multidisciplinary approach. Targeted nutrition is expected to be a key component in improving oncology care quality. Evolving recommendations, an increase in observational studies, and the number of clinical trials worldwide are projected to drive the market for oncology nutrition forward in the future years. Furthermore, the oncology nutrition market is expected to benefit from increased clinical research on nutritional interventions and increased awareness of cancer patient nutrition in the coming years. In the forecast period, the oncology nutrition market is predicted to receive support from the increase in research and development activities and the introduction of innovative products for oncology patients' nutrition and register better growth.

MARKET RESTRAINTS:

Tube feeding-related difficulties and limited reimbursement connected with its use are the key limitations that could slow the market's growth. The global oncology nutrition market growth is further projected to be hampered by the high cost of oncology nutrition products. The market is also expected to be challenged by a lack of awareness during the forecast period.

REPORT COVERAGE:

This research report on the global oncology nutrition market has been segmented and sub-segmented based on the cancer type, distribution channel & region.

Oncology Nutrition Market – By Cancer Type:

• Stomach and Gastrointestinal Cancers
• Liver Cancer
• Breast Cancer
• Lung Cancer
• Esophageal Cancer
• Head and Neck Cancer
• Pancreatic Cancer
• Blood Cancer

The head and neck segment is expected to grow at a significant CAGR during the forecast period. This is mainly due to the rising global incidence of head and neck malignancies. As a result of severe illnesses such as mucositis, xerostomia, dysgeusia, nausea, and vomiting, these patients rely heavily on formula feeding. A lump or sore that does not heal, a persistent sore throat, difficulty swallowing, and a change in voice or heaviness are just a few associated symptoms of head and neck cancer. Other, less dangerous conditions can also cause these symptoms.           

Oncology Nutrition Market – By Distribution Channel:

• Hospitals
• Retail Pharmacies
• Online Pharmacies

During the forecast period, the hospital segment is expected to grow. Because of the rise in cancer patients and the need to meet nutritional demands, hospitals have invested in delivering enough meals to patients, which has fueled the segment's expansion. In addition, competition is heating up in cancer care as hospitals, health systems, and physician groups create new cancer centers in response to the aging of the baby boomer generation and an anticipated increase in cancer diagnoses over the next 20 years.

Oncology Nutrition Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

North America is expected to dominate the worldwide oncology nutrition market throughout the forecast period. This is due to several causes, including the increased prevalence of cancer and the availability of improved healthcare infrastructure. In addition, the United States holds the largest market share in the North American region, owing to factors such as the rising geriatric population, the launch of new nutrition products, and developments related to cancer therapy, as well as rising government initiatives to raise cancer awareness in the country, which are expected further to drive the oncology nutrition market in this region.

Due to an expanding patient pool, rising healthcare spending, and growing government backing, Asia-Pacific is predicted to rise throughout the forecast period. In addition, greater awareness and accessibility of modern healthcare facilities, increased spending on healthcare, a significant population base, and quick advancements in the health insurance sector contribute to this segment's rise.

KEY MARKET PARTICIPANTS:

Danone S.A., Pfizer Inc., B. Braun Melsungen AG, Fresenius Kabi AG, Grifols S.A., Baxter International, Inc., Nestlé S.A., Abbott Laboratories, and Sichuan Kelun Pharmaceutical Co., Ltd are a few of the noteworthy companies operating in the global oncology nutrition market profiled in this report.

RECENT HAPPENINGS IN THIS MARKET:

• In 2021, Esperer Nutrition opened an office in London, United Kingdom, intending to try to bridge the Onco Nutrition Gap in the UK, Europe, and the US markets.
• In 2020, Nestle purchased Allergan to expand its medical nutrition business.