Nutrition Products For Cachexia Market By Product Type (Powder Mix, Drinks, & Others), By Distribution Channel (Supermarkets, Hypermarkets, Pharmacies, E-commerce, Over the Counter & Others), By Geography- Global Opportunity Analysis & Industry Forecast, 2022-2027
Nutrition Products For Cachexia Market Overview
Nutrition Products For Cachexia Market size is estimated to reach $2.9 billion by 2027, growing at a CAGR of 7.3% during the forecast period 2022-2027. Cachexia is a medical condition known as ‘wasting syndrome’ that causes severe weight loss, muscle loss, and loss of body fats. This condition is mostly seen in people who are in the late stage of cancer, Chronic Obstructive Pulmonary Disease (COPD), Human Immunodeficiency Virus (HIV) or acquired immunodeficiency syndrome (AIDS), kidney disease, and congestive heart failure (CHF). For instance, when the person is at the last stage of cancer, involuntary weight loss occurs affecting adipose tissue, and there is also wasting and weakness of skeletal muscles. One-third of all types of cancer patients lose more than 5% of their original body weight which is the common symptom of cancer cachexia. To combat cachexia, a multidisciplinary strategy is presently regarded as the best option, with dietary management advised as an integral aspect of multimodal therapy. In cachectic patients, adequate nutritional therapy is critical for providing the fundamental building blocks needed to maintain and regenerate tissue. Nutrition is also important for providing energy and micronutrients, which are required to fuel and accelerate metabolic activities. Various nutrients have been implicated in the regulation and restoration of metabolic processes underlying cachectic patients' wasting, in addition to nourishing them. Also, drugs like megestrol acetate, tetrahydrocannibinol, oxandrolone, and anti-inflammatory drugs play major roles. According to the International Agency for Research on Cancer (IARC), 1 in 5 persons will develop cancer during their lifetime, with 1 in 8 men and 1 in 11 women dying from the disease. As a result, the rising global burden of cancer also raises the risk of cancer cachexia, a condition marked by systemic inflammation, a negative protein, and energy balance, and an involuntary loss of lean body mass.
The rising prevalence of cancer and cancer cachexia cases is set to drive the Nutrition Products For Cachexia Market. The proliferating financing in R&D activities for the discovery of innovative therapies for the treatment of cancer cachexia is set to propel the growth of the Nutrition Products For Cachexia Market during the forecast period 2022-2027. This represents the Nutrition Products For Cachexia Industry Outlook.
The report: “Nutrition Products For Cachexia Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of the Nutrition Products For Cachexia Market.
Mix, Drinks, and Others.
By Distribution Channel: Supermarkets, Hypermarkets, Pharmacies, E-commerce, Over the Counter and Others.
By Geography: North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia, Rest of South America), and Rest Of The World (Middle East, Africa).
- Geographically, North America Nutrition Products For Cachexia Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the better healthcare infrastructure, and the presence of key manufacturers in the North-American region.
- Nutrition Products For Cachexia Market growth is being driven by the increasing pervasiveness of cancer and deaths associated with it. However, the economic burden of diseases and limited income in underdeveloped and developing countries is one of the major factors hampering the growth of the Nutrition Products For Cachexia Market.
- Nutrition Products For Cachexia Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Nutrition Products For Cachexia Market report.
Nutrition Products For Cachexia Market: Market Share (%) By Region, 2021
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Nutrition Products For Cachexia Market Segment Analysis - By Product Type
The Nutrition Products For Cachexia Market based on product type can be further segmented into Powder Mix, Drinks, and Others. The Powder Mix Segment held the largest market share in 2021. This growth is owing to its characteristic of being easily consumed by patients without any effort of chewing or swallowing food, which is not possible for many cancer patients. Also, powder mix is easy to take by mixing in any liquid such as water or fruit juice or with a solid meal which is further propelling the growth of the Powder Mix segment.
Furthermore, the Drinks segment is estimated to grow with the fastest CAGR of 8.9% during the forecast period 2022-2027 owing to the patients suffering from chronic diseases needing calories, nutrients, as well as hydration attributed to most of the body tissue getting dehydrated with various treatments like radiation which result in fat loss.
Nutrition Products For Cachexia Market Segment Analysis - By Distribution Channel
The Nutrition Products For Cachexia Market based on distribution channel can be further segmented into Supermarkets, Hypermarkets, Pharmacies, E-commerce, Over the Counter, and Others. Over the Counter, Segment held the largest market share in 2021. This growth is owing to the easy availability of nutrition products For cachexia suffering patients. As per the consumer healthcare products association, retail sale of over-the-counter medicines goes to 36.5 billion in the U.S. In 2020, there are 54000 pharmacies in U.S. and more than 750000 retail outlets that sell over-the-counter drugs. The increasing predominance of chronic diseases and wasting syndrome together with a large number of over-the-counter medication outlets and easy availability of essential medicines is further propelling the growth of this segment.
Furthermore, the E-commerce segment is estimated to grow with the fastest CAGR of 8.2% during the forecast period 2022-2027 owing to the wide availability of online pharmacies through which people can easily order their medicines at home together with a variety of services offered by online pharmacies like fast delivery, free delivery, discount on purchase, tele-consultancy, and others.
Nutrition Products For Cachexia Market Segment Analysis - By Geography
The Nutrition Products For Cachexia Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America and Rest of the World. North America (Nutrition Products For Cachexia Market) held the largest share with 35% of the overall market in 2021. The growth of this region is owing to the increasing prevalence of chronic diseases in the North American region. As per the recent report published by the Centers for Disease Control and Prevention (CDC), six in ten adults in the U.S. suffer from chronic diseases, and four in ten adults live with more than two chronic diseases, and the cost to the nation is $4.1 trillion on annual health care. The progress in novel technology for the treatment of cancer cachexia and a robust product pipeline for wasting syndrome is further propelling the growth of the Nutrition Products For Cachexia Market in the North American region.
Furthermore, the Europe region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like Cancer being the most important cause of death and morbidity in Europe after cardiovascular diseases, as per the World Health Organization (WHO). Cancer causes 20% of deaths in the European Region, with more than 3 million new cases and 1.7 million deaths each year. Like cancer, Human Immunodeficiency Virus (HIV) is spreading in the European region with rapid growth. As per current data, 2.6 million people live with HIV, and an estimated 600000 are unaware of the infection. This kind of increase in the risk of chronic diseases in the European population is further propelling the growth of the Nutrition Products For Cachexia Market in the European region.
Nutrition Products For Cachexia Market Drivers
Increasing Prevalence of Life-Threatening Diseases Is Driving The Nutrition Products For Cachexia Market
The increasing prevalence of life-threatening diseases like Cancer, HIV, COPD, AIDS, and kidney diseases all over the world is boosting the demand for nutrition products for cachexia. Most of the population is living above the average range of poverty and under poverty, which is keeping them away from medical services. Owing to such conditions, people cannot afford the necessary medical facilities which creates complicated medical conditions like wasting syndrome. As per the World Health Organization (WHO), half the world lacks access to essential health services, and 100 million population goes into extreme poverty owing to health expenses. To treat a large population, affordable and easy-to-access nutritional products or supplements are needed which is boosting the demand for nutrition products for cachexia. The increasing predominance of life-threatening diseases is therefore driving the growth of the Nutrition Products for Cachexia Market during the forecast period 2022-2027.
Compulsory Need Of Nutritious Products For Cachexia Or Wasting Syndrome Helps To Drive Market Growth
Cachexia condition occurs at the last stage of life-threatening chronic diseases inclusive of cancer which results in severe involuntary weight loss and loss of body fat with disruption of a metabolic pathway in the body. Owing to the disruption of metabolic pathways and in conditions like chronic kidney disease, it is hard to utilize vitamins and minerals in the body. As per the Centers For Disease Control And Prevention (CDC), about 15% of U.S adults are approximately 37 million people living with chronic kidney disease (CKD). Cachexia diseases also lower body fluid and cause dehydration which affects the absorption of essential vitamins and minerals by the body, which creates the need for nutritious products. The compulsory requirement of nutritious products for cachexia or wasting syndrome is therefore driving the growth of the Nutritious Products for Cachexia Market during the forecast period 2022-2027.
Nutrition Products For Cachexia Market Challenges
Chances Of Side Effects Caused By Nutritious Products Are Hampering The Growth Of The Nutrition Products For Cachexia Market
People suffering from chronic conditions are going through multiple medical treatments and medication. They have also low immunity to tolerate any common disease. Owing to low immunity and a higher number of medications, there is a chance of side effects of products owing to any of the above conditions. A recent notification by U.S. Food And Drug Administration (FDA) released in February 2022, declared that FDA does not have authority to review dietary supplement products for safety and effectiveness before they are marketed. As per the article published on drugs.com, Glucagon-like peptide-1 (GLP-1) receptor agonists such as liraglutide (Saxenda) or semaglutide (Wegovy) can often cause stomach side effects like diarrhea, upset stomach (nausea or vomiting), heartburn, gas or constipation, among other side effects. As per the world drug report 2019, about 35 million people around the world suffered from drug use disorder. These kinds of side effects of medicines are restraining the growth of the Nutrition Products for the Cachexia Market.
Nutrition Products For Cachexia Industry Outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Nutrition Products For Cachexia Market. The top 10- Nutrition Products For Cachexia Market companies are:
1. Abbott Laboratories
2. Smartfish Nutrition
3. Nutriwell Laboratories
4. MusclePharm Corp
5. Quest Nutrition
7. Cyto Sport
8. Transparent Labs.
9. Pfizer Inc.
10. Aphios Corporation
- In March 2022, Abbott and the Local Initiatives Support Corporation (LISC) declared a $37.5 million initiative to offer different tiny businesses with the tailored development capital, loans, and backing they require to compete, grow and create jobs. The initiative will back more diversity in the healthcare industry by promoting a more inclusive supply chain for Abbott and other healthcare firms while adding to broader economic and health equity. In the healthcare supply chain, the tiny businesses that assist in generating diagnostics, nutrition products, medical devices, and other health technologies do not mirror the diversity of the communities they help – which echoes a more extensive diversity gap in businesses across America.
- In February 2022, MusclePharm Corporation declared a national partnership with Alliance Sales & Marketing (“Alliance”) to assist in expediting the development of the Company’s energy drink business. Alliance will influence twenty years of industry expertise and associations to extend the MusclePharm and FitMiss line of energy drink products into grocery and convenience channels across the U.S. Alliance is a leading national food and beverage broker with an approved track record of success developing brands and expanding sales for certain most well-recognized consumer packaged goods food and beverage firms.
- In October 2019, Smartfish AS commenced a rollout of its consumer health nutritional products into novel markets in Asia by way of a novel strategic partnership with Jacobson Pharma Group. As a powerful sign of dedication to the novel partnership, Jacobson Pharma Group currently financed NOK 40 million in Smartfish by way of a share issue. Smartfish offers rare nutritional solutions for both medical applications and consumer health.
Report Code: HCR 0449
Report Code: FBR 27445
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