(PharmaNewsWire.Com, September 21, 2019 ) According to the new market research report “Oncology Nutrition Market by Cancer Type (Head & Neck, Stomach & Gastrointestinal, Liver, Pancreatic, Esophageal, Lung, Breast, Blood) - Global Forecast to 2023", published by MarketsandMarkets™, The oncology nutrition market was valued at USD 1.34 Billion in 2017 and is expected to reach USD 2.21 Billion by 2023, at a CAGR of 8.7% during the forecast period. Factors such as the development of elemental formulas and product innovation in terms of non-GMO-based formulas present significant opportunities for the growth of oncology-based nutrition formulas.
The report analyzes the oncology nutrition market by type of cancer and region. Based on cancer type, the head and neck cancers segment accounted for the largest share of the market in 2017. Patients with head and neck cancers suffer from severe problems associated with oral nutritional intake. Thus, the enteral route is used for nutrition support. With the increasing number of such cancers cases, the uptake of tube feeding formulas has increased. Also, conditions such as severe mucositis, xerostomia, dysgeusia, and nausea & vomiting limit nutritional intake, adding to the adoption of oncology nutritional feeding formulas.
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Factors such as the shift from parenteral to enteral nutrition along with the increasing incidence of cancer, growing demand for nutritional feeding in the homecare sector, rising number of patients being treated for malnutrition, and increasing quality of clinical research on nutritional interventions are driving the growth of the oncology nutrition market.
Furthermore, the development of elemental formulas and product innovation in terms of non-GMO-based formulas present significant opportunities for the growth of excipients. However, the complications associated with tube feeding and limited reimbursements represent a significant challenge to the market growth. The oncology nutrition market is expected to reach USD 2.21 Billion by 2023 from an estimated USD 1.46 Billion in 2018, at a CAGR of 8.7% during the forecast period.
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