Market Trends of Oncology Nutrition Industry
This section covers the major market trends shaping the Oncology Nutrition Market according to our research experts:
Lung Cancer is Expected to Witness a Healthy Growth Over the Forecast Period
The lung cancer segment is likely to grow during the study period owing to factors such as the high prevalence of lung cancer worldwide, an increase in lung cancer nutritional supplements, and raising awareness of the importance of taking nutritional supplements. For instance, as per Lung Cancer Fact 2022, lung cancer is the leading cause of cancer death worldwide. In the United States, an estimated 236,740 people will be diagnosed with lung cancer in 2022.1 in 16 people were diagnosed with lung cancer in their lifetime-1 in 15 men and 1 in 17 women. As the number of cancer patients rises, since nutrition gives the body the power to fight disease and provides strength and stamina to withstand the side effects of treatment, the need for oncology nutrition is projected to grow over the forecast period.
Furthermore, government initiatives encourage people to consume proper nutrition both during and after cancer treatment.For that purpose, the agencies are relaxing and preparing many regulations relating to the same. For instance, in May 2021, U.S. Senators Susan Collins (R-ME) and Gary Peters (D-MI) introduced the "Medical Nutrition Therapy Act," bipartisan legislation that would expand Medicare Part B to cover medical nutrition therapy (MNT) services for additional conditions, including cancer, prediabetes, eating disorders, malnutrition, gastrointestinal diseases (e.g., celiac disease), cardiovascular disease, HIV/AIDS, and other diseases or conditions that cause unintentional weight loss. Such movements are likely to help people financially and motivate them to be more keen on taking nutritional supplements, thereby boosting the market's growth.
Hence, as per the factors mentioned above, the lung cancer segment is likely to grow in the oncology nutrition market over the forecast period.
North America is Expected to Witness a Healthy Growth Over the Forecast Period
North America is expected to witness growth in the overall oncology nutrition market throughout the forecast period. This is due to factors such as the rising prevalence of cancer and the availability of advanced healthcare infrastructure, among other major factors. For instance, as per the report from the American Cancer Society for 2022, there are estimated to be 1.9 million new cancer cases diagnosed in the United States in 2022. Moreover, government initiatives, product launches, and collaborations in cancer nutrition supplements boost market growth. For instance, the Academy of Nutrition and Dietetics conducted the "2022 Oncology Nutrition Symposium" on June 20, 2022. In the symposium, they discuss the practice of oncology nutrition, which covers research, prevention, treatment, recovery, palliative care, and hospice.
Furthermore, the Canada Cancer Society estimates that there will be 233,900 new cancer cases in Canada in 2022. The increasing incidence of cancer cases in the region of North America is anticipated to boost market growth. Additionally, many certification programs and awareness classes are conducted regionally to educate cancer patients and providers regarding the importance of oncology nutrition. For example, the Oncology Nutrition Institute (ONI) provides evidence-based educational certification and training programs in the field of modern, metabolic, innovative, integrative, and outcomes-based oncology nutrition therapy. Its flagship 250-hour Oncology Nutrition Consulting (ONC) certification program is an intensive training program for qualified nutrition, health, and medical practitioners. Its flagship 250-hour Oncology Nutrition Consulting (ONC) certification program is an intensive training program for qualified nutrition, health, and medical practitioners. Thus, such an increase in cancer cases is expected to increase the demand for oncology nutrition, eventually driving the market.
Hence, as per the factors mentioned above, North America is expected to witness growth over the forecast period.
