Oncology Nutrition Market Size, Share, Industry, Forecast and outlook (2023-2030)

Global Oncology Nutrition Market is segmented By Cancer Type (Lung Cancer,Head and Neck Cancer, Pancreatic Cancer, Stomach and Gastrointestinal Cancer, Liver Cancer, Esophageal Cancer, Blood Cancer and Others), By End User(Hospitals and Clinics, Homecare, others) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Global Oncology Nutrition Market Overview

(200pages) A Report by DataM Intelligence estimates the Global Oncology Nutrition market to grow at a high CAGR Of 8.5% during the forecast period 2023- 2030. The market is expected to grow due to increasing demand from Hospitals and Clinics, Homecare. The competitive rivalry intensifies with Abbott, Baxter International, Inc., Global Health Products Inc., and others operating in the market.

A fine-tuned nutritional intervention not only helps boost one's immunity but also acts as a barrier against Cancer, thereby increasing the overall efficacy of cancer treatment. The field of Onco-Nutrition aims to make Cancer patients feel better & stay stronger. Oncology Nutrition Market study analysis offers an in-depth outlook on the market containing quantitative and qualitative data. It gives an outlook and forecast of the global market based on market segmentation. It also provides global Oncology Nutrition Market size, and growth, along with the latest trends, opportunities, and forecast till 2029 for the global market with esteem to major countries such as the United States, Canada, Brazil, Germany, Italy, Spain, United Kingdom, Russia, European countries, United Arab Emirates, Saudi Arabia, South Africa, Japan, China, India, South Korea, Australia, and rest of the countries over the globe.

Among all regions, the North American region is expected to hold the largest share of the global market over the forecast period. The Oncology Nutrition Market in the United States and Canada produces the utmost share. Whereas the European Oncology Nutrition Market is projected to continue its presence globally during the period of 2023- 2030.

Oncology Nutrition Market Scope

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Oncology Nutrition Industry Dynamics

The developments in oncology nutrition, increasing cancer cases, increased awareness about the importance of nutrition in cancer and market developments are driving the global oncology nutrition market.

The increasing efforts and new technological applications for oncology food product development propel the global oncology nutrition market growth.

The efforts and new technological applications for developing oncology food will drive the global oncology food market growth during the forecast period. For instance, EIT Food, a body of the European Union, is working on a project, ONCOFOOD, proposing the design and development of new innovative food solutions for cancer patients with keeping in mind their nutritional requirements and sensory alterations, promoting the pleasure of eating and preventing malnutrition. A range of food solutions for the taste and smell alterations, such as soups, mousses in pouch packs, fruit and vegetable beverages, dairy desserts and seasonings, will be developed and tested on cancer patients. Furthermore, innovative food technologies like 3D printing will deliver new food solutions for those cancer patients experiencing dysphagia or temporarily requiring a soft diet at the hospital. Moreover, ONCOFOOD anticipates launching its innovative food solution for cancer patients in 2022 or 2023. It is also considered that the food might also be appropriate for other medical conditions causing or leading to malnutrition. Thus, the increasing efforts and application of advanced technology for developing oncology nutritional food will drive the global oncology nutrition market growth during the forecast period.

The high cost and limited data on the cost-effectiveness of nutritional supplements in cancer restrain the global oncology nutrition market’s growth.

The high cost and limited data on the cost-effectiveness of nutritional supplements in cancer will restrain the growth of the global oncology nutrition market during the forecast period, for instance, as per an article published by NIH titled "Cost-Effectiveness of Nutrient Supplementation in Cancer Survivors." However, with $12.8 billion a year spent by Americans on dietary supplements (DS), limited data exist on the cost-effectiveness and long-term economic sustainability of these nutrition interventions and approaches. Thus, the lack of data supporting the effectiveness of nutrient supplements in cancer is hampering the global oncology nutrition market during the forecast period.

COVID-19 Impact on Oncology Nutrition Market

During the pandemic, it came to an understanding that COVID coinfection with cancer, whether under chemotherapy, has a progressive course and worse outcomes. Implementing appropriate nutritional care in ICU or non-ICU oncology patients during this unprecedented emergency was challenging. To address this concern, the Clinical Nutrition and Dietetics Unit and the Medical Oncology Unit of our hospital, one of the largest community hospitals in Lombardy, reorganized the routine clinical activity in strict collaboration to better face the challenge while preserving cancer patients’ needs. Due to such efforts, the disruption in demand was minimal for the oncological nutritional food product, minimally impacting the global oncology nutrition market.

Oncology Nutrition Market Segmentation Analysis

Lung cancer is assumed to dominate the global oncology nutrition market throughout the forecast period (2023-2030).

Lung cancer is estimated to dominate the global oncology nutrition market during the forecast period (2023-2030) owing to the growing number of lung cancer cases and favoring regulation policies for oncology reimbursement. For instance, in May 2021, the “Medical Nutrition Therapy Act” was introduced, bipartisan legislation expanding Medicare Part B to cover medical nutrition therapy (MNT) services for added ailments, such as cancer, prediabetes, eating disorders, malnutrition, gastrointestinal diseases (e.g., celiac disease), cardiovascular disease, HIV/AIDS, and other diseases or conditions that cause unintentional weight loss. In addition, according to the WHO, lung cancer caused over 2.21 million cases and 1.80 million deaths in 2020. Furthermore, according to World Cancer Research Fund International, it is the most common cancer in men and the 2nd most common cancer in women, making it the second most common cancer globally. Thus, from the data mentioned, it is estimated that lung cancer will dominate the global oncology nutrition market throughout the forecast period.

Oncology Nutrition Market Geographical Landscape

The North American region holds the largest global oncology nutrition market.

North America is estimated to dominate the global oncology nutrition market throughout the forecast period (2022-2029) because of the rising burden of cancer in this region and the presence of key market players in North America. As per the National Cancer Institute, around 1,806,590 new cases were diagnosed with cancer and caused 606,520 deaths in 2020. Furthermore, according to the American Cancer Society, over 1.9 million cancer cases were diagnosed in 2021 and caused around 608,570 deaths.

Moreover, CDC estimated that the number of new cancer cases per year will reach 29.5 million by 2040. In addition, key market players such as Baxter International, Inc., Abbott, Hormel Foods Corporation (Hormel Health Labs), Global Health Products Inc., Hormel Foods Corporation and Victus, Inc. are based in America and hold a large share of the market through different market strategies which ensure the dominance of North America over the global oncology nutrition market. Thus, from the mentioned data, it is anticipated that North America will dominate the global oncology Nutrition market during the forecast period.

Oncology Nutrition Company and Competitive Landscape

Oncology nutrition is highly concentrated among a few key players, such as Baxter International, Inc., Abbott, Hormel Foods Corporation (Hormel Health Labs), Global Health Products Inc., Fresenius Kabi, Danone, Nestlé, B. Braun, Hormel Foods Corporation and Victus, Inc. These key market players contribute to the growth of the market through various market strategies. For instance, in July 2022, after undergoing approval from the Chinese regulators five-year-long, Nestle rolled out China’s first Foods for Special Medical Purpose (FSMP) for patients suffering from tumor-related conditions. Also, in January 2020, Nestle acquired Allergan’s business to expand in medical nutrition.

Abbott.

Overview:

Abbott Laboratories is an American global medical device and healthcare company founded in 1888 with headquarters in Abbott Park, Illinois, United States. Abbott Laboratories manufacture and trades medical devices, diagnostics, branded generic medicines and nutritional products. Abbott Laboratories has nutrition product brands such as ZonePerfect, PediaSure, Similac, Pedialyte, Juven, Nepro, Etc.

Product Portfolio:

 The product portfolio of Abbott for oncology nutrition has Prosure: It is a therapeutic nutritional product specifically designed for people at risk for or

experiencing cancer-induced weight loss.

The global oncology nutrition market report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.