The Oncology Nutrition market studied is anticipated to grow with a CAGR of 8.9%, during the forecast period. The major factors attributing to the growth of the oncology nutrition market are the rising prevalence of cancer cases worldwide.

The use of nutritional products during and after the treatment of cancer gives the ability to fight disease and offers strength and stamina against the treatment’s after-effects which is driving the market growth. And there are few more factors which are playing crucial roles in taking the oncology nutrition market to the next level, among them increasing demand for nutrition products for oncology in homecare settings, increasing demand for enteral nutrition products are expected to further propel the growth of oncology nutrition market.

Key Market Trends

Lung Cancer is Expected to Witness a Healthy Growth Over the Forecast Period

As per the statistics from GLOBOCAN 2018, there was an estimated 2,129,118 number of cancer cases in the United States, which is expected to grow by 2040 and reach a number of 3,096,944 cases. Lung cancer holds the major share in all types of cancers accounting for 2,093,876 new cases in 2018 worldwide. As the number of people with cancer will increase, the demand for oncology nutrition will upsurge, as nourishment gives the ability to fight disease and offers strength and stamina against the treatment’s after-effects.

North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to dominate the overall oncology nutrition market, throughout the forecast period. This is owing to factors such as the rising prevalence of cancer and the availability of advanced healthcare infrastructure among the major factors.

In North America region, the United States holds the largest market share owing to the factors such as increasing number of population suffering from cancer, the launch of new nutrition products, along with the rising geriatric population and developments related to cancer therapy and rising government initiative for the awareness of cancer in the country, is anticipated to further drive the oncology nutrition market in this region.

Competitive Landscape

The oncology nutrition market is consolidated and consists of a few major players. In terms of market share, few of the major players are currently dominating the market. And some prominent players are vigorously making acquisitions and joint ventures with the other companies and launching new products to consolidate their market positions across the globe. Some of the companies which are currently dominating the market are Abbott Laboratories, Nestle S.A., Fresenius Kabi AG, B.Braun Melsungen AG, and Hormel Foods Corporation.

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