Oncology Nutrition Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.
Published date -30th Jan 2024
Formats -PDF, CSV
Oncology Nutrition Market Size & CAGR
The global oncology nutrition market is projected to witness a Compound Annual Growth Rate (CAGR) of 5.2% from the year 2021 to 2028. The market size is expected to reach USD 3.5 billion by 2028, reflecting a significant growth trajectory.
COVID-19 Impact on Oncology Nutrition Market
The COVID-19 pandemic has had a mixed impact on the oncology nutrition market. While there have been disruptions in the supply chain and healthcare services, there has also been an increased emphasis on the importance of nutrition in supporting cancer patients. The market saw a slight dip in growth in 2020 due to the pandemic but is expected to recover and show steady growth in the coming years.
Oncology Nutrition Dynamics
The dynamics of the oncology nutrition market are influenced by factors such as the increasing prevalence of cancer, advancements in nutrition science, and a growing focus on personalized nutrition plans for cancer patients. There is a rising awareness about the role of nutrition in cancer treatment and recovery, leading to the development of specialized oncology nutrition products and services.
Segments and Related Analysis
The oncology nutrition market can be segmented based on product type, patient type, distribution channel, and region. Product types include oral supplements, enteral nutrition, and parenteral nutrition. Patient types can range from pediatric to adult cancer patients. The distribution channels include hospitals, specialty clinics, and online retailers.
By Region Analysis
The oncology nutrition market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America currently holds the largest market share due to well-established healthcare infrastructure and high prevalence of cancer. However, the Asia Pacific region is expected to witness the fastest growth due to improving healthcare facilities and increasing awareness about nutrition in cancer care.
Key Market Players and Competitive Landscape
Some of the key players in the oncology nutrition market include Nestle Health Science, Abbott Laboratories, Danone SA, Fresenius Kabi AG, and B. Braun Melsungen AG. These companies are constantly innovating and introducing new products to cater to the specific nutritional needs of cancer patients. The market is highly competitive, with players focusing on research and development, strategic partnerships, and mergers & acquisitions to maintain their market position.
Recent Happenings in the Oncology Nutrition Market
- In January 2021, Nestle Health Science launched an oncology nutrition program to provide personalized nutrition solutions for cancer patients undergoing treatment. - Abbott Laboratories introduced a new range of oral nutrition supplements specifically designed for cancer patients in September 2020. - Danone SA announced a collaboration with leading oncology centers to conduct clinical trials on the efficacy of nutrition interventions in cancer care in March 2021. - Fresenius Kabi AG expanded its portfolio of enteral nutrition products for oncology patients in November 2020. - B. Braun Melsungen AG partnered with oncology clinics to provide nutrition counseling and support services to cancer patients in July 2021.