Oncology Nutrition Market Poised to Grow to USD 3.6 billion by 2031, With a 6.2% CAGR: Exclusive Report by Transparency Market Research, Inc.
Transparency Market Research
5 min read
Transparency Market Research
Increased awareness of the significance of nutrition in cancer therapy as a result of concerted efforts by advocacy groups, the government, and healthcare institutions is boosting the oncology nutrition market growth.
Wilmington, Delaware, United States, Feb. 26, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global oncology nutrition market was projected to attain US$ 2.1 billion in 2022. It is anticipated to garner a 6.2% CAGR from 2023 to 2031 and by 2031, the market is likely to attain US$ 3.6 billion by 2031. Oncology nutrition refers to dietary programs and therapies aimed to meet the needs of cancer patients who experience appetite loss, nutritional shortages, and weight fluctuations.
Oncological nutritional assistance promotes body resource function, cancer treatment tolerance, and overall patient well-being. Dietary concerns in cancer patient treatment must include tumor-fighting nutrients, calories, lipids, and important vitamins and minerals.
Major participants in the oncology nutrition market are spending heavily in the development of tumor-specific nutritional therapy and oncological nutrient strategies to meet the rising need for novel healthcare solutions.
Cancer-related malnutrition affects the majority of cancer patients, since tiredness and physical changes produced by therapy result in weight loss and dietary shortages.
The integration of nutritional screening and evaluation techniques into cancer care approaches is expected to boost the oncology nutrition business.
Recent oncology nutrition industry developments include research into the significance of micronutrients in oncology therapy, as well as the integration of digital nutritional platforms that provide individualized meals for cancer patients and remote assistance.
Market Trends for Oncology Nutrition
Cancer is a widespread illness and the biggest cause of mortality worldwide. A dramatic increase in the worldwide elderly population, an unhealthy modern lifestyle across age groups, and specific genetic predispositions are the key causes of the rise in cancer occurrences.
According to the World Health Organization (WHO), various forms of cancers account for one in every six deaths worldwide. According to the worldwide body, by 2030, there might be 21 million additional cancer cases every year.
A well-balanced diet for a cancer patient varies depending on the individual and disease kind. Consuming enough calories, minerals, vitamins, and fats helps to relieve pain, increases the chances of survival, and keeps a cheerful attitude during grueling therapy sessions.
Educational activities, advocacy efforts, supporting government regulations, and healthcare worker training programs are the primary contributors to raising knowledge of the significance of nutrition in cancer therapy, hence increasing the value of the oncology nutrition industry.
Global Market for Oncology Nutrition: Regional Outlook
North America had the greatest oncology nutrition market share in 2022. The presence of a well-developed healthcare industry, increased knowledge of improved cancer care options, and research and development of novel therapies are all contributing to the regional market dynamics.
The Canadian Cancer Society reports that in 2023, there will be 239,100 new cancer cases and 86,700 cancer-related deaths in Canada. Over the last 25 years, one out of every 24 Canadians has been diagnosed with at least one sort of cancer.
According to the most recent cancer nutrition market study, the sector in Europe is expected to rise steadily between 2023 and 2031. The focus on individualized treatment and cancer care, together with supporting government regulations and recommendations, is boosting the region's oncology nutrition sector statistics.
According to the European Commission, cancer care imposes a significant strain on the European Union's healthcare budget, costing more than EUR 100 billion annually.
Global Oncology Nutrition Market: Key Players
Leading manufacturers in the market are spending heavily in the development of cancer-adapted dietary programs and nutritional oncology solutions in an effort to improve patients' quality of life and aid healthcare personnel in providing optimal care. The following companies are well-known participants in the global oncology nutrition market:
Danone S.A.
Pfizer Inc.
B. Braun Melsungen AG
Fresenius Kabi AG
Grifols S.A.
Baxter International, Inc.
Nestle S.A.
Abbott Laboratories
AbbVie, Inc.
Sichuan Kelun Pharmaceutical Co. Ltd.
Key developments by the players in this market are:
In January 2024, Danone announced a collaboration with Resilience, a digital oncology firm, to improve nutritional treatment for cancer patients. The collaboration's goal is to create a revolutionary nutrition and oncology module that will be included into Resilience's digital oncology platform.
In July 2022, Nestle introduced China's first Foods for Special Medical Purpose (FSMP) created exclusively for patients with tumor-related diseases, following a five-year clearance procedure with Chinese regulatory officials.
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