The Veterinary Oncology Global Market Report 2023 by The Business Research Company, provides veterinary oncology market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Veterinary Oncology Global Market Report 2023, the market size is expected to grow from $0.32 billion in 2022 to $0.36 billion in 2023 at a compound annual growth rate (CAGR) of 12.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global veterinary oncology market size is expected to reach $0.55 billion in 2027 at a CAGR of 11.5%.
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 for 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.
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The veterinary oncology market 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 Type
Product innovations are a key trend gaining popularity in the veterinary oncology market. Major companies operating in the veterinary oncology market are focused on developing new solutions to strengthen their position. For instance, in June 2021, PetDx, a US-based molecular diagnostics company dedicated to unleashing the power of genomics, launched “OncoK9,” a novel multi-cancer early detection test. It is uniquely designed with the power of genomics to help veterinarians detect cancer in dogs earlier by using routine blood drawing without the need for prior fasting or sample processing. It processes the sample using proprietary methods optimized for canine cell-free DNA analysis and issues a digital report indicating if there is a cancer signal. It has strong clinical performance with minimal false-positive rates and high cancer diagnosis rates.
The veterinary oncology market report table of contents includes:
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Top Major Players
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