New Jersey, NJ,, July 31, 2019 (GLOBE NEWSWIRE) -- Advances in biotechnology have started the revolution of the medical nutrition market. Manufacturers are increasingly focusing on the research & development of better and customized nutrition products in the market. Therefore, development of disease-specific specialized medical nutrition products in the developed countries is on the rise. The global oncology nutrition market is expected to grow from USD 1,440.82 Million in 2017 to USD 3,280.09 Million by 2025 at a CAGR of 10.69% during the forecast period from 2018-2025, according to the new report published by Fior Markets.
Cancer is a medical condition in which cells divide uncontrollably leading to abnormal cell growth. Cancer cells do not die naturally and have potential to spread to other parts of the body. These cells are called as malignant cells or tumor cells. Oncology deals with prevention, diagnosis, and treatment of cancer or tumor. Patient suffering from cancer or undergoing cancer treatment require proper nutrition. These nutrition provide strength to fight illness and gives endurance against the after effects of the treatment. According to the nutritionists, milk and dairy products, eggs, meat, poultry, fish, tofu, fruits, vegetables, bread, grain, cereal products must be included in the diet of cancer patients. Furthermore, high fat and calorie food is recommended for cancer patients to prevent weight loss during the treatment by doctors. Proper nutrition provides more energy and also helps in speeding up the recovery of the patient. Furthermore, it helps in healing wounds after chemotherapy and other treatments.
Increasing cases of cancer disease and increasing requirement to meet the nutritional demands during treatment are major factors propelling the growth of the global oncology nutrition market. In addition, growing awareness programs in developing countries regarding benefits of nutritional requirements are also boosting the market. High cost of these products may restrict the growth of the market. However, increase in healthcare expenditure and increasing demand from developing countries are bolstering the global oncology nutrition market progression.
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Key players operating in the global oncology nutrition market are Danone, Abbott Laboratories, Nestlé, Fresenius Kabi, B. Braun Melsungen AG, Mead Johnson & Company, LLC, Hormel Foods Corporation, Meiji Holdings Co. Ltd., Victus, Global health products Inc., Aceto, Baxter International, FMC Corporation, and among others. In order to their enhance market position, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, in 2019, CancerCare entered into the partnership with and Savor Health and launched Introduce Ina, the intelligent nutrition assistant. The Ina offers personalized, evidence-based nutrition support to help people with cancer eat healthy and stay well-nourished throughout their treatment and beyond.
- Collaborative strategies of key players to increase awareness for nutrition of cancer patients is stimulating the growth of the oncology nutrition market. For instance, in 2017, Celgene Corporation, which is a U.S based biotechnology company collaborated with Savor Health. Savor Health is involved in offering cancer patients expert dietary solutions.
- New product launches and technological advancements by players is driving the growth of the market. For instance, in 2016, Hormel Food Corporation, which is a U.S-based meat food Products Company introduced a line of packaged ready-to-eat meals for cancer patients. These are called as Hormel Vital Cuisine. Furthermore, Fresenius Kabi, a German-based pharmaceutical manufacturer had invested USD 250 million in Illinois to expand outside of Chicago. It is intended to boost production of injectable medicines which is currently in demand in the United States. This is anticipated to complete in the year 2020.
The head and neck cancers segment dominated the market and held largest market share of 37.29% in 2017
Cancer type segment includes head & neck, stomach & gastrointestinal, liver, pancreatic, esophageal, lung, breast, blood and other cancers. The head and neck cancers segment dominated the market and held largest market share of 37.29% in 2017. Patients with head and neck cancers suffer from oral nutritional intake. Increase cases of such cancers have rose the uptake of tube feeding formulas. Moreover, conditions such as severe mucositis, dysgeusia, and nausea & vomiting restrict nutritional intake. These factors are adding to the adoption of oncology nutritional feeding formulas.
Hospitals segment is dominated and expected to grow with the highest CAGR of 12.09% in the forecast period
Distribution channel segment is classified into hospitals, retail pharmacies, and online pharmacies. Hospitals segment is dominated and expected to grow with the highest CAGR of 12.09% in the forecast period. Due to increase in cancer patients and to meet nutritional demand hospitals have indulged in providing proper meals to patients which in turn is driving the growth of the segment.
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Region Segment Analysis of the Oncology Nutrition Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
North America region dominated the global oncology nutrition market with USD 691.27 Million in 2017 where as Asia Pacific is expected to grow with the highest CAGR in the forecast period. North America dominated the market owing to launch of new oncology nutrition products by major market players, advanced healthcare facilities and large cancer patient pool. Asia Pacific is expected to witness highest growth in the assessment period due to increasing awareness programs on the importance of maintaining good nutrition during the treatment. For instance, in August 2018, Singapore Cancer society organized Gastric Cancer Awareness 2018 awareness campaign aware people about proper nutrition. These campaigns are projected to fuel growth of the oncology nutrition market in the region.
About the report:
The global oncology nutrition market is analysed on the basis of value (USD Million), volume (Kilotons), consumption (Kilotons), imports (Kilotons) and exports (Kilotons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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