SAN FRANCISCO, March 31, 2022 /PRNewswire/ -- The global veterinary oncology market size is expected to reach USD 578.0 million by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 12.1% from 2022 to 2030. Increasing prevalence of cancer in pets and demand for veterinary diagnostics are projected to drive the market over the forecast period.
Key Insights & Findings from the report:
- Increasing prevalence of cancer in companion animals, several clinical trial studies to evaluate the safety and effectiveness of cancer therapeutics for pets and technological advancements in veterinary oncology treatment are anticipated to create growth opportunities in the market.
- Chemotherapy accounted for the largest revenue share over the coming years, owing to its increasing adoption for pet cancer treatment either alone or in combination with other therapies.
- Canine segment held the largest revenue in 2021, increasing population of dogs and high prevalence of cancer in dogs as compared to cats.
- Lymphoma dominated the market among other cancer types in 2021, due to the disease's high mortality rate in companion animals. According to the Veterinary and Comparative Oncology in 2018, Gastrointestinal (GI) Lymphoma is the most common neoplasm that contracts dog population.
- North America held the dominant share of as of 2021, due to the favorable government policies, new product launch by the companies, and huge investment for veterinary oncology treatment.
- Asia Pacific is anticipated to witness lucrative growth due to increasing focus on animal health and expenditure, increasing number of pet population being exposed to cancer, government focus on animal safety, and several initiatives to curb cancer cases in pet animals.
- Some of the key companies are Boehringer Ingelheim, PetCure Oncology, Elanco, Accuray Incorporated, Varian Medical Systems, Zoetis, Karyopharm Therapeutics, Inc. One Health and Regeneus Ltd.
Request a free sample copy or view report summary, "Veterinary Oncology Market Size, Share & Trends Analysis Report By Therapy (Radiology, Chemotherapy), By Animal type, By Cancer type (Lymphoma, Mast cells, Mammary and Squamous cell), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Veterinary Oncology Market Growth & Trends
Adoption of canine cancer registry globally to estimate cancer incidences is another driving factor for the market growth. According to frontiers in Veterinary Science in February 2019, the Swiss Canine Cancer Registry (SCCR) was used as a data source and was compiled for future comparative studies of canine and human cancers. This database is further helpful in mitigating the incidence of malignant tumors in the human population, thereby driving the market growth.
Researchers carrying out studies focused on veterinary oncology are further boosting the veterinary oncology market growth. For instance, University of Illinois in August 2017, carried out study that involves more precise detection of metastasis (spread of cancer through the body) for head and neck tumors in dogs. Moreover, the market players are also focusing on new product innovation and strategic collaborations. For instance, in 2018 AdvaVet, a subsidiary of Oasmia Pharmaceutical AB, developed XR17 technology, which is nanoparticle formulation based that makes a single Active Pharmaceutical Ingredient (API) or multiple APIs water soluble. It is a combination therapy and is also a standard treatment for a number of cancer diseases in pet animals.
Veterinary Oncology Market Segmentation
Grand View Research has segmented the global veterinary oncology report on the basis of therapy, animal type, cancer type, and region:
Therapy Outlook (Revenue, USD Million, 2017 - 2030)
- Surgery
- Radiotherapy
- Chemotherapy
- Immunotherapy
- Others
Animal type Outlook (Revenue, USD Million, 2017 - 2030)
- Canine
- Feline
Cancer type Outlook (Revenue, USD Million, 2017 - 2030)
- Lymphoma
- Mast Cell Cancer
- Mammary and Squamous Cell Cancer
- Others
Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
List of Key Players of Veterinary Oncology Market
- PetCure Oncology
- Zoetis
- Karyopharm Therapeutics, Inc.
- Varian Medical Systems
- Accuray Incorporated
- Boehringer Ingelheim GmbH
- Elanco
- One Health
- Regeneus Ltd
Check out more related studies published by Grand View Research:
- U.S. Veterinary Oncology Market- The U.S. veterinary oncology market size is expected to reach USD 171.16 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.7% from 2022 to 2030. The increasing prevalence of cancer in pets, willingness to spend on them by pet owners, and use of canines as a model for clinical trials by researchers are the key contributing factor toward the market growth. In addition, a rise in the incidence of cancer in the feline population and rising pet ownership resulting in the increased focus on pet health is further expected to spur the growth. Moreover, companies are increasingly adopting strategies, such as M&As, research agreements, collaboration, partnerships, geographic expansion, and product development to enhance their market position.
- Veterinary Software Market - The global veterinary software market size is expected to reach USD 1.07 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.0% from 2022 to 2030. An increase in the prevalence of zoonotic diseases is a key factor for the growth of this market. Rising prevalence has triggered the demand for animal health diagnostics and monitoring services, which is expected to propel market growth over the forecast period. The growing adoption of integrated software systems for diagnostics and treatment is anticipated to fuel the market growth over the following years.
- Veterinary Diagnostics Market - The global veterinary diagnostics market size is expected to reach USD 16.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.2% from 2022 to 2030. The growing incidence of zoonotic and foodborne diseases is expected to drive the market over the forecast period. Moreover, increasing companion ownership in developing countries is another factor propelling the market. Approximately 75% of all novel and emerging human infectious ailments are zoonotic, like COVID-19, denoting that they can jump from animals to individuals. To combat COVID-19 and future pandemics, leaders from the Group of Seven in a February 2021 statement called for "affordable and equitable access to diagnostics" along with strengthening the One Health approach that unites veterinary, medical, and environmental disciplines in a cooperative effort.
Browse through Grand View Research's Animal Health Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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