(PharmaNewsWire.Com, July 07, 2020 ) 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 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.
Oncology Nutrition Market by Cancer Type (Head & Neck, Stomach & Gastrointestinal, Liver, Pancreatic, Esophageal, Lung, Breast, Blood) – Global Forecast to 2023
1. To define, describe, segment, and forecast the oncology nutrition market for different types of cancer 2. To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, and industry-specific opportunities) 3. To forecast the size of the oncology nutrition market, in four main regions —North America (along with countries), Europe (along with countries), Asia Pacific, and the Rest of the World
By cancer type, the head and neck cancers segment accounted for the largest share of the market
On the basis of type of cancer, the head and neck cancers segment accounted for the largest share of the oncology nutrition market, in 2017. This can be attributed to the use of tube feeding formulas for patients with head and neck cancers as conditions such as severe mucositis, xerostomia, dysgeusia, and nausea & vomiting in these patients limits nutritional intake.
The geographical regions mapped in the report are: 1. North America 2. Europe 3. Asia-Pacific (APAC) 4. Rest of the World (RoW)
Regional Growth, Development and Demand Analysis:
North America accounted for the largest share of the oncology nutrition market in 2017, followed by Europe. This regional segment shows significant market growth owing to the increasing prevalence of chronic diseases and disorders, coupled with rapidly growing aging population, which shows greater susceptibility to chronic and acute disorders than other population segments.
Some key players mentioned in the research report are:
The major players in the oncology nutrition market are Abbott Laboratories (US), Nestle S.A. (Switzerland), Danone (France), Fresenius Kabi AG (Germany), and B.Braun Melsungen AG (Germany). The other players in this market include Mead Johnson Nutrition Company (US), Hormel Foods (US), Meiji Holdings (Japan), Victus (US), and Global Health Products (US).
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