How is the Oncology Nutrition Market Poised for Growth: Trends and Opportunities Through 2034
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What key factors are powering the surge in the oncology nutrition market right now?
The market size of oncology nutrition has seen a swift expansion in the previous years. It is projected to escalate from $1.9 billion in 2024 to $2.1 billion in 2025, with a compound annual growth rate (CAGR) of 10.5%. The surge in the historical timeframe can be ascribed to factors such as an aging demographic, enhancements in healthcare infrastructure, expenditure on research and development, a shift towards patient-centric treatment, and an uptick in healthcare expenditures.
How fast Is the oncology nutrition market expected to grow, and what’s its future value?
It is anticipated that the oncology nutrition market will experience robust expansion in the coming years. The market value is projected to reach $3.06 billion in 2029, growing at a compound annual growth rate (CAGR) of 9.9%. Factors fueling this growth during the prediction period include the growing incidences of cancer, higher demand for nutritious food, increased worldwide clinical trials, and rising disposable income. Key trends that are expected to shape the market during the forecast period are personalized nutrition, immuno-nutrition, genomic nutrition, integrative medicine, and value-based care.
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What are the leading drivers of growth in the oncology nutrition market?
The escalating incidences of cancer are significantly facilitating the growth of the oncology nutrition market. The term “cancer incidence” refers to the emergence of new cancer cases within a specific demographic over a set duration. Adequate nourishment through supportive foods is crucial for individuals battling cancer. Therefore, an increase in cancer incidences escalates the requisition for oncology nutrition. The American Cancer Society, a non-profit cancer advocacy organization based in the US, reported in January 2023 that the count of cancer cases rose to 1,958,310 in 2023, showing a growth of 3.16% from 1,898,160 in 2021. Thus, the accelerating rate of cancer instances will underpin the expansion of the oncology nutrition market.
What are the key segments defining the oncology nutrition market?
The oncology nutrition market covered in this report is segmented –
1) By Cancer Type: Blood Cancer, Breast Cancer, Stomach and Gastrointestinal Cancers, Liver Cancer, Pancreatic Cancer, Other Cancer Types
2) By Nutrition: Enteral Nutrition, Parenteral Nutrition
3) By End-Users: Hospitals, Homecare, Specialty Clinics, Other End Users
Subsegments:
1) By Blood Cancer: Leukemia, Lymphoma, Multiple Myeloma
2) By Breast Cancer: Early-Stage Breast Cancer, Advanced Breast Cancer
3) By Stomach and Gastrointestinal Cancers: Gastric Cancer, Colorectal Cancer, Esophageal Cancer
4) By Liver Cancer: Hepatocellular Carcinoma, Cholangiocarcinoma
5) By Pancreatic Cancer: Exocrine Pancreatic Cancer, Endocrine Pancreatic Tumors
6) By Other Cancer Types: Lung Cancer, Prostate Cancer, Ovarian Cancer, Head And Neck Cancers
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Who are the key players steering the development of the oncology nutrition market?
Major companies operating in the oncology nutrition market include B. Braun Melsungen AG, Danone India, Abbott Laboratories, Nestle S.A., Hormel Foods Corporation, Meiji Holdings Co. Ltd., Pfizer Inc., Baxter International Inc., Mead Johnson Nutrition Company LLC, Fresenius Kabi AG, Mead Johnson & Company LLC, Global Health Products Inc., Nutricia, Cambrooke Therapeutics Inc., Kate Farms Inc., Real Food Blends LLC, Abbott Nutrition, Fresenius Kabi USA LLC, Medtrition Inc., Nutra Balance Products, Nutritional Medicinals LLC, Pinnacle Foods Inc., Primus Pharmaceuticals Inc., Solace Nutrition, The Simply Good Foods Company, Unimed Pharma LLC, Vitaflo USA LLC
What emerging trends are influencing the growth of the oncology nutrition market?
Leading organizations in the oncology nutrition market are prioritizing the creation of innovative solutions, such as unique dietary plans for cancer patients. These plans aim to boost treatment results, fortify immune function, manage side effects associated with treatment, and improve the overall quality of life during and after cancer therapies. The term “nutrition for cancer patients” denotes specialized diet plans and nutritional strategies tailored to cater to the specific needs of cancer-afflicted individuals. In June 2024, Spain’s Patients Support Association, AEACAP, initiated a new series of nutritional advice intended to assist cancer patients and their caregivers. The initiative comprises a set of videos, made public bi-weekly, and led by a specialized nutritionist. The series strives to supply crucial knowledge regarding dietary habits and nutrition during and post-cancer treatment, underscoring the significant part a balanced diet plays in improving treatment results and overall life quality for those grappling with cancer.
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Which regions are most influential in expanding the oncology nutrition market?
North America was the largest region in the oncology nutrition market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the oncology nutrition market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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