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Strong Growth Ahead: Oncology Nutrition Market Size To Grow At Arecord 9.9% Cagr By 2029
Oncology Nutrition
How Big Is the Oncology Nutrition Market Size Expected to Be by 2034?
The market size for oncology nutrition has experienced rapid expansion in the last few years. It is projected to increase from $1.9 billion in 2024 to $2.1 billion in 2025, representing a compound annual growth rate (CAGR) of 10.5%. Factors such as an aging population, enhancements in healthcare facilities, investments in research and development, a focus on patient-oriented care, along with increased spending in healthcare, contributed to the growth during the historic period.
In the forthcoming years, a robust expansion is anticipated in the oncology nutrition market, expected to reach $3.06 billion by 2029 at a compound annual growth rate (CAGR) of 9.9%. The escalation during the estimated period can be credited to various factors like a growing number of cancer cases, heightened demand for nutritious food, an influx in global clinical trials, and an increase in disposable income. Key trends to observe during the forecast period include personalized nutrition, immuno-nutrition, genomic nutrition, integrative medicine, and value-based care.
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What Are the Emerging Segments Within the Oncology Nutrition Market?
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
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
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What Long-Term Drivers Are Shaping Oncology Nutrition Market Trends?
The surge in cancer occurrences is playing a major role in fueling the expansion of the oncology nutrition market. Cancer incidence is the total number of new cancer diagnoses in a specific population over a predetermined length of time. People diagnosed with cancer require a proper diet enriched with sufficient nutrients. Consequently, the escalating numbers of cancer incidences augment the need for oncology nutrition. For example, the American Cancer Society, a non-profit organization advocating for cancer in the US, reported in January 2023 that cancer cases had risen to 1,958,310 in 2023, marking a growth of 3.16% from 1,898,160 in 2021. Hence, the increasing prevalence of cancer will be beneficial to the growth of the oncology nutrition market.
Who Are the Top Competitors in Key Oncology Nutrition Market Segments?
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
What Oncology Nutrition Market Trends Are Gaining Traction Across Different Segments?
The oncology nutrition market's leading enterprises are concentrated on devising inventive solutions like nutrition for cancer patients to augment treatment results, bolster immune function, handle side-effects associated with treatment and amplify the quality of life during and post-cancer therapy. Nutrition for cancer patients means specialized meal plans and nutritional intervention crafted to cater to the exclusive needs of people undergoing cancer treatment. For example, in June 2024, AEACAP, an association for patient support based in Spain, rolled out a new nutrition series to assist cancer patients and those taking care of them. This program constitutes a series of videos published bi-weekly, hosted by a specialist in nutrition. The aim of the series is to dispense crucial details about diet and nutrition during and post-cancer treatment, underlining the significant part that apt nutrition commands in augmenting treatment results and the overall quality of life for those grappling with cancer.
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Which Regions Are Becoming Hubs for Oncology Nutrition Market Innovation?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Oncology Nutrition Market?
2. What is the CAGR expected in the Oncology Nutrition Market?
3. What Are the Key Innovations Transforming the Oncology Nutrition Industry?
4. Which Region Is Leading the Oncology Nutrition Market?
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