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What Is The Expected Total Market Size Of The Oncology Nutrition Industry By The Forecast Year 2029?
The oncology nutrition market size has grown strongly in recent years. It will grow from $1.9 billion in 2024 to $2.08 billion in 2025 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to aging population, improved healthcare infrastructure, research and development investments, patient-centric care, rise in healthcare spending.
The oncology nutrition market is projected to experience substantial expansion in the coming years. This market is forecast to reach a valuation of $3 billion by 2029, achieving a compound annual growth rate (CAGR) of 9.5%. Several factors are expected to fuel this growth during the forecast period, including a rise in cancer cases, greater demand for nutritional food products, an increase in global clinical trials, and growing disposable incomes. Key trends anticipated within this period encompass personalized nutrition, immuno-nutrition, genomic nutrition, integrative medicine, and value-based care.
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Which Major Market Drivers Are Shaping The Future Of The Oncology Nutrition Market?
The expanding occurrence of cancer is a key factor driving the future growth of the oncology nutrition market. Cancer incidence refers to the count of new cancer diagnoses appearing within a specific demographic over a defined duration. Individuals afflicted with cancer necessitate sufficient food providing adequate nutrition. Consequently, an escalation in cancer incidence leads to heightened demand for oncology nutrition. For instance, in January 2023, the American Cancer Society, a US-based nonprofit cancer advocacy organization, stated that the number of cancer cases climbed to 1,958,310 in 2023, demonstrating a growth of 3.16% from 1,898,160 in 2021. Hence, the increasing incidence of cancer will contribute to the expansion of the oncology nutrition market.
What Are The Segment Types Shaping The Oncology Nutrition Market?
The oncology nutritionmarket 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
Which Ongoing Trends Are Expected To Shape The Oncology Nutrition Market Outlook?
Leading companies within the oncology nutrition market are concentrating on creating innovative solutions, such as specialized nutrition for cancer patients, to enhance treatment outcomes, bolster immune function, manage treatment-related side effects, and improve the overall quality of life throughout and following cancer therapy. Nutrition for cancer patients involves customized dietary plans and nutritional interventions crafted to address the distinct needs of individuals undergoing cancer treatment. For instance, in June 2024, AEACAP, the Spain-based Patients Support Association, launched a new nutrition series designed to assist cancer patients and their caregivers. This program features a collection of videos released bi-weekly, presented by an expert nutritionist. The series aims to deliver essential information on diet and nutrition during and after cancer treatment, highlighting the crucial role that appropriate nutrition plays in improving treatment efficacy and the general quality of life for those impacted by cancer.
Who Are The Top Performing Companies In The Oncology Nutrition Market In Recent Years?
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
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What Are The Key Regional Factors Influencing The Oncology Nutrition Market Growth?
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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