Oncology Nutrition Market: Market Challenges and Insights of Industry Experts
According to the new market research report “Oncology Nutrition Market by Cancer Type (Head & Neck, Stomach & Gastrointestinal, Liver, Pancreatic, Esophageal, Lung, Breast, Blood) – Global Forecast to 2023“, published by MarketsandMarkets™, 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. 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.
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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.
By cancer type, the head and neck cancers segment accounted for the largest share of the market
On the basis of type of cancer, the head and neck cancers segment accounted for the largest share of the oncology nutrition market, in 2017. This can be attributed to the use of tube feeding formulas for patients with head and neck cancers as conditions such as severe mucositis, xerostomia, dysgeusia, and nausea & vomiting in these patients limits nutritional intake.
Although, tube feeding is an effective and cost-efficient option for providing clinical nutrition, certain complications associated with the use of these devices can result in additional healthcare costs. Also, the limited reimbursement associated with its use pose significant restraint for greater adoption of these feeding formulas.
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Market Key Players:
The major players in the oncology nutrition market are Abbott Laboratories (US), Nestle S.A. (Switzerland), Danone (France), Fresenius Kabi AG (Germany), and B.Braun Melsungen AG (Germany). The other players in this market include Mead Johnson Nutrition Company (US), Hormel Foods (US), Meiji Holdings (Japan), Victus (US), and Global Health Products (US).
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