Oncology Nutrition Market Regional Analysis:-
North America is expected to dominate the global Oncology Nutrition Market due to launch of new oncology nutrition products by key players. For instance, in 2005, Millennium Biotechnologies, a research based nutraceutical company, launched Resurgex nutritional supplement. This supplement is designed to support immune support and increase energy in cancer patients.
Thus launch of nutritional supplements by key players to enhance and strengthen the immune system as well meet all the nutritional needs of cancer patients is expected to boost growth of the oncology nutrition market.
Asia Pacific oncology nutrition market is expected to witness growth due to increasing awareness campaigns for nutrition of cancer patients. For instance, Singapore Cancer society will be organizing their awareness campaign - Gastric Cancer Awareness 2018, in August 2018.
This campaign mainly focuses on the importance of maintaining good nutrition during and after gastric cancer treatment. Such awareness campaigns are expected to fuel growth of the oncology nutrition market.
Cancer is a group of diseases involving abnormal cell growth with the potential to spread or invade in other parts of the body. These cells are called as malignant cells or tumor cells. Oncology is the branch of medicine, which deals with prevention, diagnosis, and treatment of cancer or tumor.
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The nutrition of the cancer patients during or after the treatment is termed as oncology nutrition. Proper nutrition is required for a patient suffering from cancer or is undergoing cancer treatment. Furthermore, such nutrition provides strength to fight illness and offers endurance against the after effects of the treatment.
According to the nutritionists some foods that must include diet of cancer patients are milk and dairy products, eggs, meat, poultry, fish, tofu, fruits, vegetables, bread, grain, cereal products, and others. Futthermore, high fat and calorie food is recommended by doctors for cancer patients to prevent weight loss during the treatment.
Proper nutrition provides more energy and improves the quality of life by managing the side effects of the cancer treatment and also helps in speeding up the recovery of the patient. Furthermore, it helps in healing wounds after chemotherapy and other treatments.
Oncology Nutrition Market Drivers:-
Launch of new products for nutrition of oncology patients is expected to drive the oncology nutrition market growth. For instance, in 2016, Hormel Food Corporation, a U.S-based meat food products company, launched a line of packaged ready-to-eat meals for cancer patients, which are called as Hormel Vital Cuisine.
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These meals consist of carbohydrates, proteins, and fats to help patients fight loss of muscle mass and energy during cancer treatment. Thus launch of new ready to eat products are expected to fuel growth of the oncology nutrition market.
Collaborations of key players to increase awareness for nutrition of cancer patients is also expected to drive growth of the oncology nutrition market. For instance, in 2017, Celgene Corporation, a U.S based biotechnology company, collaborated with Savor Health, which offers cancer patients expert dietary solutions.
Celgene Corporation collaborated with Savor Health to be a part of their awareness program ‘Cooking. Comfort. Care’ to increase awareness of importance of nutritional food for pancreatic cancer patients. Such campaigns that create awareness about nutritional food for cancer patients are expected to significantly contribute to growth of the oncology nutrition market.
According to a study conducted by National Cancer Institute in 2018, around 15,112,098 people in U.S. were diagnosed with cancer in 2015, whereas in 2018 around 17 million new cases of cancer were recorded. High prevalence of cancer is expected to boost the oncology nutrition market growth.
However, high cost of oncology nutrition products is expected to restrain the oncology nutrition market growth. For instance, Nutricomp Energy HP by B. Braun Melsungen AG costs more than US$ 8898 which most people cannot afford. Thus high cost of nutritional products for cancer patients is expected to restrain the growth of oncology nutrition market.
Oncology Nutrition Market Key Drivers:-
Key players operating in the oncology nutrition market include Danone, Nestle S.A., B. Braun Melsungen AG, Abbott Laboratories, Fresenius Kabi AG, Mead Johnson & Company, LLC., Meiji Holdings Co. Ltd., Hormel Foods Corporation, Global health products Inc., and Victus.
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