ONCOLOGY NUTRITION MARKET ANALYSIS

Market Challenges And Opportunities

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.

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.