Veterinary oncology Market Overview
The global veterinary oncology market size was valued at $297.30 million in 2020, and is estimated to reach $819.84 million by 2030, growing at a CAGR of 10.8% from 2021 to 2030.
Veterinary oncology is defined as the treatment of pets suffering from cancer to enhance the quality of life. Cancer is one of the major cause of death in pet animals. Dogs and cats are more prone to develop skin cancer and bone cancer. Skin tumor is most common and frequently diagnosed cancer in domestic animals due to constant exposure of animal skin to sun rays. The HHHHHMM scale is used by veterinarians to identify the quality of life with pet owners before decisions are made for treatment of disease such as cancer.
The growth of the global veterinary oncology market is majorly driven by increase in the prevalence of cancer, such as lymphoma, skin cancer, mast cell cancer, & bone cancer; rise in demand for veterinary oncology therapy; increase in funding from private & government organizations for animal care centers; and rise in R&D activities for oncology treatment in pets. According to the Flint Animal Cancer Center, in 2020, it was reported that approximately 85% of bone tumor are diagnosed in canine animal. Furthermore, surge in pet adoption is anticipated to fuel the growth of the infection disease diagnostic market. For instance, in January 2021, American Veterinary Medical Association, it was observed that the number of new pets per practice increase from 25% per week in March 2020 to 39% in July 2020. In addition, rise in focus on pet health fuels the market growth, owing to the fact that dogs and cats are more susceptible to cancer. According to the Journal of American Animal Hospital Association, it was reported that dogs are more prone to cancer.
In addition, increase in the number of veterinary clinical studies for evaluating the safety and efficiency of a wide range of oncology drugs is anticipated to contribute toward the growth of the veterinary oncology market. According to the National Cancer Institute, in 2020, the Pre-Medical Cancer Immunotherapy Network of Canine Trails and comparative oncology programs facilitated the trials of novel therapies for different type of cancer in pets such as dogs.
Furthermore, rise in awareness among individuals for management and treatment of oncology in pets and increase in the number of veterinary clinical centers to develop advanced treatment therapies are expected to provide remunerative opportunities for the expansion of the global veterinary oncology market during the forecast period. Moreover, the presence of key manufacturing company in veterinary oncology treatment and rise in expenditure on animal healthcare propel the growth of the veterinary oncology market.
Thus, presence of various veterinary foundations and initiatives taken by government for regarding pet illness propel the growth of the market. However, high cost associated with veterinary oncology therapy and side effects of oncology drugs such as hair loss, decrease appetite, and vomiting are expected to restrict the market growth during the forecast period.
global veterinary oncology market segmentation
The global veterinary oncology market is segmented into therapy, animal type, cancer, and region. By therapy, the market is categorized into surgery, radiology, chemotherapy, and others.
On the basis of animal type, it is divided into canine and feline. Depending on cancer, it is categorized into lymphoma, mast cell cancer, mammary and squamous cell cancer, and others.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Segment Review
Depending on therapy, the chemotherapy segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to advancement in R&D activities in the animal healthcare sector, increase in number of chemotherapy in animal for treatment of cancer, and surge in adoption of chemotherapies procedures in pets. However, the radiology segment is expected to witness considerable growth during the forecast period, owing to surge in number of research study for animal treatment and surge in adoption of target specific therapy for pets.
By Therapy
Chemotherapy segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period.
By animal type, the canine segment was the major contributor in 2020, and is expected to maintain its lead during the forecast period, owing to increase in incidence of cancer in canine animals, rise in R&D activities for oncology treatment in animals, and increase in number of clinical trials on canine for oncology treatment. However, the feline segment is expected to witness considerable growth during the forecast period, due to increase in prevalence of cancer in feline, rise in the number of cats, and development of clinical study in feline to identify the safety & efficacy of oncology treatment.
By Animal Type
Canine segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period.
On the basis of cancer, the lymphoma segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in demand for chemotherapy, rise in prevalence of mast cell cancer in dogs, and advancement in R&D activities for lymphoma cancer treatment. However, the mast cell cancer segment is expected to witness considerable growth during the forecast period, owing to increase in number of veterinary cancer study, surge in awareness about treatment of skin cancer, and advancements in R&D for oncology treatment in animals.
By Cancer
Lymphoma segment is projected as one of the most lucrative segment.
North America garnered the major share in the veterinary oncology market in 2020, and is expected to continue to dominate during the forecast period, owing to rise in the prevalence of cancer in pet animals, presence of key players for manufacturing & developing drugs for animals, increase in number of dogs & cats, and initiatives taken by government for pet oncology treatment in the region. However, Asia-Pacific is expected to register the highest CAGR of 11.9% from 2021 to 2030, owing to increase in prevalence of cancer in dogs, rise in demand for pet adoption, and presence of various veterinary foundations.
By Region
North America was holding a dominant position in 2020 and would continue to maintain the lead over the analysis period.
The key players operating in the global veterinary oncology market include Accuray Incorporated, Boehringer Ingelheim International GmbH, Elanco, Karyopharm Therapeutics, Inc., Morphogenesis, Inc., Nippon Zenyaku Kogyo Co., PetCure Oncology, Regeneus Ltd., Varian Medical System, Inc., and Zoetis.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the veterinary oncology market, and the current trends & future estimations to elucidate imminent investment pockets.
- It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing veterinary oncology market opportunities.
- Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
- Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the veterinary oncology market.
Key Market Segments
By Therapy
- Surgery
- Radiology
- Chemotherapy
- Others
By Animal Type
- Canine
- Surgery
- Radiology
- Chemotherapy
- Others
- Feline
- Surgery
- Radiology
- Chemotherapy
- Others
By Cancer
- Lymphoma
- Mast Cell Cancer
- Mammary & Squamous Cell Cancer
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
KEY MARKET PLAYERS
- Accuray Incorporated
- Boehringer Ingelheim International GmbH
- Elanco
- Karyopharm Therapeutics, Inc.
- Morphogenesis, Inc.
- Nippon Zenyaku Kogyo Co.
- PetCure Oncology
- Regeneus Ltd.
- Varian Medical System, Inc.
- Zoetis
Veterinary oncology Market Report Highlights
| Aspects | Details |
 By THERAPY |
|
 By ANIMAL TYPE |
|
 By CANCER |
|
 By Region |
|
 Key Market Players | Regeneus Ltd., AB Science, Elanco Animal Health Incorporated, Karyopharm Therapeutics, Inc., Zoetis, .Accuray Incorporated, PetCure Oncology, Boehringer Ingelheim International GmbH, Morphogenesis, Inc., Varian Medical System, Inc. |
Analyst Review
Growth of the veterinary oncology market is attributed to factors such as advancement in R&D activities for veterinary cancer therapy; rise in prevalence of cancer such as lymphoma, skin cancer, and mammary cancer in animals (mostly in dogs and cats); increase in funds from private & government organizations for development of various veterinary cancer centers; and rise in awareness about pet illness. The veterinary oncology market gains interest of pet drug manufacturing companies, owing to surge in demand for oncology treatment therapy. This leads to increase in adoption of veterinary cancer therapy. Moreover, increase in prevalence of various types of cancers among animals such as mast cell cancer, anal sac carcinoma, skin tumor, and bone cancer notably contributes toward the growth of the market. In addition, dogs and cats are highly prone to skin cancer and bone cancer, which foster the growth of the market.
North America is expected to witness the highest growth, in terms of revenue, owing to rise in the prevalence of cancer in pet animals, the presence of key players for manufacturing & developing drugs for animals, increase in number of dogs & cats, and initiatives taken by government for pet oncology treatment in the region.
Asia-Pacific was the second largest contributor to the market in 2020, and is expected to register the fastest CAGR during the forecast period, owing to increase in prevalence of cancer in dogs, rise in the demand for pet adoption, and presence of various veterinary foundations.
However, side effects caused due to oncology drugs in animal, such as hair loss, vomiting, and decrease appetite; high cost associated with chemotherapy; and targeted therapies are anticipated to restrain the market growth during the forecast period.
The total market value of veterinary oncology market is $297.3 million in 2020.
The forecast period in the report is from 2021 to 2030
The market value of veterinary oncology Market in 2021 was $326.44 million
The base year for the report is 2020.
Yes, veterinary oncology companies are profiled in the report
The top companies that hold the market share in veterinary oncology market are Accuray Incorporated, Boehringer Ingelheim International GmbH, Elanco, Karyopharm Therapeutics, Inc., Morphogenesis, Inc., Nippon Zenyaku Kogyo Co., PetCure Oncology, Regeneus Ltd., Varian Medical System, Inc., and Zoetis
Asia-Pacific is expected to register the highest CAGR of 11.9% from 2021 to 2030, owing to increase in prevalence of cancer in dogs, a rise in the demand for pet adoption, and presence of various veterinary foundations
The key trends in the veterinary oncology market are by an increase in the prevalence of cancer, such as lymphoma, skin cancer, mast cell cancer, & bone cancer; rise in demand for veterinary oncology therapy; an increase in funding from private & government organizations for animal care centers; and rise in R&D activities for oncology treatment in petss
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