What This Report Will Provide?
This study estimates the market size for 2018 and projects its demand till 2023. Top-down and bottom-up approaches were used to validate the size of this market and estimate the size of other dependent submarkets. Various secondary sources such as directories, industry journals, databases (such as D&B Hoovers, Bloomberg Business, and Factiva), and annual reports of companies have been used to identify and collect information useful for the study of the oncology nutrition market.
Expected Revenue Growth:
[92 Pages Report] The oncology nutrition market was valued at USD 1.34 Billion in 2017 and is expected to reach USD 2.21 Billion by 2023, at a CAGR of 8.7% during the forecast period.
Major Growth Boosters:
Factors such as the development of elemental formulas and product innovation in terms of non-GMO-based formulas present significant opportunities for the growth of oncology-based nutrition formulas. Factors such as shifting focus from parenteral to enteral nutrition, increasing incidence of cancer, growing demand for nutritional feeding in the homecare sector, rising number of patients being treated for malnutrition, and increasing quality of clinical research on nutritional interventions are driving the market growth.
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Objectives of the study are:
- To define, describe, segment, and forecast the oncology nutrition market for different types of cancer
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, and industry-specific opportunities)
- To forecast the size of the oncology nutrition market, in four main regions —North America (along with countries), Europe (along with countries), Asia Pacific, and the Rest of the World
- To identify and profile key players in the global oncology nutrition market and comprehensively analyze their core competencies and market shares
- To track and analyze competitive developments such as mergers and acquisitions; new product launches; expansions; collaborations and agreements; and R&D activities of the leading players in the global oncology nutrition market
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The report analyzes the oncology nutrition market by type of cancer and region. Based on cancer type, the head and neck cancers segment accounted for the largest share of the market in 2017. Patients with head and neck cancers suffer from severe problems associated with oral nutritional intake. Thus, the enteral route is used for nutrition support. With the increasing number of such cancers cases, the uptake of tube feeding formulas has increased. Also, conditions such as severe mucositis, xerostomia, dysgeusia, and nausea & vomiting limit nutritional intake, adding to the adoption of oncology nutritional feeding formulas.
Regional Growth Analysis:
Geographically, the oncology nutrition market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2017, North America accounted for the largest share of this market. However, the Asia Pacific region is expected to witness the highest CAGR during the forecast period of 2018 to 2023. The growth of this segment can be attributed to the increased awareness and accessibility to advanced healthcare facilities, rising healthcare spending, large population base, and rapid improvements in the health insurance sector.