Oncology Nutrition Market
Oncology Nutrition Market Projected to Reach $4.79 Billion by 2030
The global oncology nutrition market is projected to reach $4.79 billion by 2030, growing at a CAGR of 8.9% from 2023 to 2030. The market is driven by the rising incidence of cancer, increasing demand for nutritional feeding in the homecare sector, and rising number of patients being treated for malnutrition.
The oncology nutrition market is segmented by cancer type, nutrition, formula, route of administration, end-users, and distribution channel. By cancer type, the market is segmented into breast cancer, lung cancer, colorectal cancer, gastric cancer, and others. Breast cancer is the leading cause of cancer death in women, followed by lung cancer and colorectal cancer.
By nutrition, the market is segmented into enteral nutrition and parenteral nutrition. Enteral nutrition is the preferred route of administration for most cancer patients. However, parenteral nutrition may be required for patients who are unable to tolerate enteral nutrition or who have severe malnutrition.
By formula, the market is segmented into elemental formulas, semi-elemental formulas, and standard formulas. Elemental formulas are the most easily absorbed by cancer patients, but they may not be as palatable as other formulas. Semi-elemental formulas are a good compromise between elemental formulas and standard formulas. Standard formulas are the least expensive type of formula, but they may not be as well-tolerated by cancer patients.
By route of administration, the market is segmented into oral, enteral, and parenteral. Oral nutrition is the preferred route of administration for most cancer patients. However, enteral nutrition may be required for patients who are unable to eat or who have severe nausea and vomiting. Parenteral nutrition may be required for patients who are unable to tolerate enteral nutrition or who have severe malnutrition.
By end-users, the market is segmented into hospitals, clinics, and homecare. Hospitals are the largest end-users of oncology nutrition products. However, the homecare market is expected to grow at the fastest rate during the forecast period. This is due to the increasing number of cancer patients who are being discharged from hospitals sooner and are being treated at home.
By distribution channel, the market is segmented into direct sales, retail, and online. Direct sales are the most common distribution channel for oncology nutrition products. However, the retail market is expected to grow at the fastest rate during the forecast period. This is due to the increasing number of cancer patients who are purchasing oncology nutrition products from retail stores.
The major players in the oncology nutrition market are Abbott Laboratories, Nestle S.A., Danone, Fresenius Kabi AG, and B. Braun Melsungen AG. These companies are investing in research and development to develop new oncology nutrition products. They are also expanding their distribution channels to reach a wider range of patients.
The oncology nutrition market is a growing market with a lot of potential. The market is driven by the rising incidence of cancer, increasing demand for nutritional feeding in the homecare sector, and rising number of patients being treated for malnutrition. The major players in the market are investing in research and development to develop new oncology nutrition products. They are also expanding their distribution channels to reach a wider range of patients.
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