Oncology Nutrition Global Market 2024 - Size, Key Drivers, Growth Factors, Technological Development And Forecast To 2033

The oncology nutrition market size has grown rapidly in recent years. It will grow from $1.74 billion in 2023 to $1.93 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. 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 size is expected to see strong growth in the next few years. It will grow to $2.81 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to increasing cancer incidence, rise in demand for nutritional food, increase in clinical trials globally, rising disposable income. Major trends in the forecast period include personalized nutrition, immuno-nutrition, genomic nutrition, integrative medicine, value-based care.

Market Overview -
Oncology nutrition refers to eating a healthy and balanced diet prescribed for a cancer patient. Eating the right kinds of food before, during, and after treatment can help patients feel better and stay stronger. Oncology nutrition is used to improve clinical outcomes in certain cancer types.

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Surge In Cancer Prevalence Drives Growth In Oncology Nutrition Market
An increase in the prevalence of cancer is significantly contributing to the growth of the oncology nutrition market going forward. Cancer incidence refers to the number of new cancer cases arising in a specified population over a given period of time. People suffering from cancer require adequate food with sufficient nutrition. As a result, the rise in the incidence of cancer increases the demand for oncology nutrition. For instance, in January 2023, according to the American Cancer Society, a US-based nonprofit cancer advocacy organization, the number of cancer cases increased to 1,958,310 in 2023, reflecting a growth of 3.16% from 1,898,160 in 2021. , , Therefore, the rising incidence of cancer will contribute to the growth of the oncology nutrition market.

Competitive Landscape -
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, Auris Health Inc., Aceto Corporation, Hansen Medical Inc., FMC Corporation, 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

Increasing Emphasis On Strategic Partnerships In The Oncology Nutrition Market
Strategic partnerships have emerged as a key trend gaining popularity in the oncology nutrition market. Organizations operating in oncology nutrition are focused on strategic partnerships to meet consumer demand and reinforce their position. For instance, in October 2021, NIHR Cancer and Nutrition, a UK-based cancer organization, collaborated with the World Cancer Research Fund, a UK-based non-profit association. This partnership focuses on training and delivering consistent information on nutrition to cancer patients. Furthermore, in March 2022, Hope Connections, a US-based non-profit organization, collaborated with Food & Friends, a US-based oncology nutrition organization, to help with nutrition awareness in oncology.

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Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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