Veterinary Oncology Market
Overview and Scope
Veterinary oncology refers to the diagnosis and treatment of cancer by specially trained experts to integrate cancer treatment with underlying conditions with sustaining a quality of life in animals. It deals with cancer medicine and treatment services in animals.
Sizing and Forecast
The veterinary oncology market size has grown rapidly in recent years. It will grow from $0.36 billion in 2023 to $0.4 billion in 2024 at a compound annual growth rate (CAGR) of 12.5%. The growth in the historic period can be attributed to increasing pet ownership, humanization of pets, knowledge transfer from human oncology, increasing awareness of pet health, pharmaceutical developments.
The veterinary oncology market size is expected to see rapidly grown in the next few years. It will grow to $0.62 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to personalized medicine for animals, rising prevalence of cancer in animals, growing geriatric pet population, expanded access to specialized care, regulatory support and approvals. Major trends in the forecast period include advanced diagnostic technologies, personalized treatment approaches, immunotherapy advancements, targeted therapies, telemedicine in oncology consultations.
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Segmentation & Regional Insights
The veterinary oncology market covered in this report is segmented –
1) By Therapy: Surgery, Radiology, Chemotherapy, Other Therapies
2) By Animal Type: Equine, Canine, Feline, Other Animal Types
3) By Cancer Type: Lymphoma, Mast Cell Cancer, Mammary And Squamous Cell Cancer, Other Cancer Types
Asia-Pacific was the largest region in the veterinary oncology market in 2023. North America is expected to be the fastest-growing region in the veterinary oncology market report during the forecast period. The regions covered in the veterinary oncology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing prevalence of cancer in pets is expected to propel the veterinary oncology market going forward. Cancer is a disorder in which a few of the body’s cells grow out of control and spread to other body sections. Cancer in pets refers to the physical manifestations of a tumor, such as swelling. Veterinary oncology is focused on cancer diagnosis and therapy in animals by reducing metastasis and disease spread. As a result, an increase in pet cancer will boost the need for veterinary oncology. For instance, according to the National Canine Cancer Foundation, a US-based foundation that strives to eliminate cancer in animals, in 2021, roughly 25% of purebred dogs pass away from cancer, with the probability of contracting the disease increasing to 45% for those over the age of ten. Furthermore, according to the National Library of Medicine, a US-based biomedical library, and the center of biomedical informatics, in 2021, approximately 4-6 million dogs are diagnosed with cancer in the 90 million total population of dogs in the US. Therefore, the growing prevalence of cancer in pets is driving the veterinary oncology market.
Key Industry Players
Major companies operating in the veterinary oncology market report are PetCure Oncology Inc., Zoetis Inc., Karyopharm Therapeutics Inc., Varian Medical Systems Inc., Accuray Incorporated, Boehringer Ingelheim International GmbH, Elanco Animal Health Inc., One Health Company Inc., Regeneus Limited, VetDC Inc., Pharmaust Limited, AdvaVet Inc., Nippon Zenyaku Kogyo Company Limited, Rhizen Pharmaceutical SA, AB Science SAS, Siemens Healthineers AG Varian Medical Systems, Pfizer Inc., Takis Biotech GmbH, Qbiotics LLC, Jaguar Animal Health Solutions Inc., Orion Corporation A/B, Invectys S.A., Virbac SA, SeQuent Scientific Limited, Ceva Santé Animale S.A., Vetoquinol S.A., IDVet Inc., Bayer Aktiengesellschaft, Morphogenesis Inc., ZENOAQ GmbH, Oncovet Clinical Research Inc. .
The veterinary oncology market report table of contents includes:
1. Executive Summary
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