Global Oncology Nutrition Market is expected to grow at a CAGR of 10.69% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Global Oncology Nutrition Market by Cancer Type (Head and Neck Cancer, Liver Cancer, Pancreatic Cancer, others), Distribution Channel, Region” and Global Forecast 2018-2025.
As per the report, 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. North America is expected to dominate the market during the forecast period. Rising cases of cancer disease coupled with increasing number of elderly population and increasing requirement of nutritional products during treatment are opening new ways for the market in the region.
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Key players operating in the market include 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 among others. 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.
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. 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.
Increasing cases of cancer disease and increasing requirement to meet the nutritional demands during treatment are major factors propelling the growth of the 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 market progression.
About the report:
The global oncology nutrition market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an 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, and competitor position grid analysis.
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