Veterinary Oncology Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 11.30 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Veterinary Oncology Market Analysis
The veterinary oncology market is projected to register a CAGR of nearly 11.3% over the forecast period.
- The COVID-19 pandemic disrupted research and development activities in veterinary cancer and affected the logistics supply of essential pharmaceutical products for pets. A study conducted in the United Kingdom in May 2022 showed that the diagnosis of chronic illnesses, including cancer, in dogs reduced the odds of seeking care during the pandemic. This was reportedly due to difficulties in accessing care for non-urgent issues, with lack of access to veterinarians being a major factor. However, with declining COVID-19 cases and the easing of restrictions, the veterinary oncology market is expected to regain its full potential over time.
- Factors such as the rising prevalence of cancer in animals, increasing investment in research and development in the area of veterinary oncology, and increasing veterinary healthcare expenditure are expected to drive market growth. As the burden of cancer cases in animals increases, the demand for effective and advanced therapeutics for cancer treatment is also expected to rise, driving growth in the studied market.
- For example, according to a research study published in February 2022 by Aging and Cancer, it is estimated that one in four dogs will be diagnosed with cancer in their lifetime. Cancer is the leading cause of death in pets beyond middle age. Therefore, due to the high prevalence of cancer among animals such as dogs, the demand for therapeutics is expected to increase, driving growth in the studied market.
- Moreover, the increasing veterinary healthcare expenditure, growing adoption of pet health insurance, and increasing research and development activities for the development of effective therapeutics, coupled with new investments, are further expected to augment the growth of the veterinary oncology market during the forecast period. For example, in March 2021, the Petco Foundation invested a USD 75,000 grant to subsidize the cost of cancer treatments for dogs and cats.
- However, the high cost associated with cancer treatment and the lack of awareness about veterinary diseases among owners are factors that may restrain the growth of the veterinary oncology market during the forecast period of the study.
Veterinary Oncology Market Trends
Canine Animal Type Segment is Expected to Hold a Significant Share in the Market Over the Forecast Period
- The canine animal segment is poised to dominate the veterinary oncology market, driven by the high incidence of cancer in canines, growing pet adoption rates, and longer lifespans of these animals, which increase the likelihood of cancer. As per a March 2021 Frontiers article, cancer is the leading cause of death in dogs, largely because many cases are diagnosed at advanced stages when the prognosis is unfavorable and clinical symptoms have emerged.
- Moreover, a June 2022 Frontiers article reported on a study in Mainland China, which found that canine mammary tumors were the most prevalent type of tumors in dogs, accounting for 46.71% of cases in the past five years, with 48.41% of the tumors being benign and 51.59% being malignant, and pure breeds accounting for 84.13% of cases. Therefore, the increasing incidence of tumors in dogs is anticipated to further drive growth in this segment.
- Additionally, the increasing number of product approvals and new therapeutics launches is expected to bolster the growth of the studied segment. For instance, in July 2021, the United States Food and Drug Administration (US FDA) authorized VetDC Inc.'s Tanovea to treat lymphoma in dogs. As a result, the factors mentioned above, such as the rising prevalence of cancer in dogs and the launch of new therapeutic options, are expected to boost the market growth.
North America is Expected to Hold a Significant Share of the Veterinary Oncology Market Over the Forecast Period
- The veterinary oncology market in the North American region has held a significant share over the years. It is expected to continue this trend during the forecast period of the study. This can be attributed to several factors, such as the large animal population, including pets, increasing cancer burden, the presence of better veterinary care and services, and rising veterinary healthcare expenditure in the region.
- According to data from the Canadian Animal Health Institute (CAHI) in September 2022, more than half of Canadian households (60%) own at least one dog or cat in 2022. Additionally, the dog population increased to 7.9 million, and the cat population increased to 8.5 million in the same year. With such a large animal population base, the burden of cancer among animals is expected to be higher, which is likely to drive the growth of the veterinary oncology market.
- In the North American region, the United States is expected to hold a significant share of the veterinary oncology market due to having one of the highest numbers of animals in the region, coupled with high animal health expenditure and a high burden of animal cancer cases. According to the 2021-2022 American Pet Product Association (APPA) National Pet Owners Survey, about 70% of households in the United States owned a pet, which translates to about 90.5 million homes. Cats and dogs were the major pets, with a total population of 45.3 million and 69 million, respectively.
- Furthermore, pet owners in the United States spent significantly on veterinary care. They spent about USD 458 for dogs and USD 201 for cats for surgical vet visits, and for routine vet visits, they spent USD 242 and USD 178 for dogs and cats, respectively. This indicates a significant presence of a large pet population in the country and high spending on their healthcare needs. With the growing burden of cancer in the country, research for cancer care for animals is increasing, which is expected to augment the growth of the veterinary oncology market. For instance, in November 2022, NCI-funded canine immunotherapy clinical trials were conducted.
- Considering all of these factors, the veterinary oncology market is expected to grow significantly during the forecast period of the study in the North American region.
Veterinary Oncology Industry Overview
The veterinary oncology market is currently experiencing a growing interest in cancer therapeutics, and as a result, major companies in the market are directing their focus toward developing and introducing new products. The market is moderately fragmented, with several companies operating in this sector. Some of the prominent players in the market include Elanco, Zoetis, Siemens Healthineers (Varian Medical Systems), and Accuray Incorporated, among others.
Veterinary Oncology Market Leaders
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Elanco
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Zoetis
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Siemens Healthineers (Varian Medical Systems)
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Accuray Incorporated
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OHC (One Health Company)
*Disclaimer: Major Players sorted in no particular order
Veterinary Oncology Market News
- November 2022: The UW School of Veterinary Medicine received a grant of USD 75,000 to offer life-saving cancer care to pets and their families. The grant will be distributed on a first-come, first-served basis of up to USD 4,000 per client.
- May 2022: Jaguar Health launched the Canine Cancer: Take C.H.A.R.G.E. (Canine Health And Registry Exchange). It is a national canine cancer registry that aims to provide the veterinary community and dog owners with vital incidence and prevalence data to aid in the diagnosis and treatment decisions of canine cancer.
Veterinary Oncology Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Rising Prevalence of Cancer Cases in Animals
- 4.2.2 Increasing Investment on Research and Development in the Area of Veterinary Oncology
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4.3 Market Restraints
- 4.3.1 High Cost of Cancer Treatment and Procedures
- 4.3.2 Lack of Awareness About Veterinary Diseases Among Owners
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4.4 Porters Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Treatment Type
- 5.1.1 Radiotherapy
- 5.1.2 Surgery
- 5.1.3 Chemotherapy
- 5.1.4 Other Treatment Types
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5.2 By Animal Type
- 5.2.1 Canine
- 5.2.2 Feline
- 5.2.3 Other Animal Types
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5.3 By Application
- 5.3.1 Lymphoma Cancer
- 5.3.2 Mast Cell Cancer
- 5.3.3 Mammary and Squamous Cell Cancer
- 5.3.4 Other Applications
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Spain
- 5.4.2.5 Italy
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Zoetis Inc.
- 6.1.2 Elanco
- 6.1.3 Boehringer Ingelheim International GmbH
- 6.1.4 PetCure Oncology
- 6.1.5 Siemens Healthineers (Varian Medical System, Inc.)
- 6.1.6 Morphogenesis, Inc.
- 6.1.7 Accuray Incorporated
- 6.1.8 Nippon Zenyaku Kogyo Co. Ltd. (ZENOAQ)
- 6.1.9 Regeneus Ltd.
- 6.1.10 OHC (One Health Company)
- 6.1.11 Karyopharm
- 6.1.12 AB Science
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityVeterinary Oncology Industry Segmentation
As per the scope of the report, cancer therapies are drugs that block the growth and proliferation of cancer by interfering with specific molecules, such as DNA or proteins, which are involved in the growth or expansion of cancerous cells. These therapies include surgery, radiation therapy, chemotherapy, immunotherapy, etc. The report includes revenue for cancer therapies provided to animals.
The veterinary oncology market is segmented by treatment type (radiotherapy, surgery, chemotherapy, and other treatment types), animal type (canine, feline, and others), application (lymphoma cancer, mast cell cancer, mammary and squamous cell cancer, and others), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally.
The report offers the value (in USD billion) for the above segments.
| By Treatment Type | Radiotherapy | |
| Surgery | ||
| Chemotherapy | ||
| Other Treatment Types | ||
| By Animal Type | Canine | |
| Feline | ||
| Other Animal Types | ||
| By Application | Lymphoma Cancer | |
| Mast Cell Cancer | ||
| Mammary and Squamous Cell Cancer | ||
| Other Applications | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Spain | ||
| Italy | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Veterinary Oncology Market Research FAQs
What is the current Veterinary Oncology Market size?
The Veterinary Oncology Market is projected to register a CAGR of 11.30% during the forecast period (2024-2029)
Who are the key players in Veterinary Oncology Market?
Elanco, Zoetis, Siemens Healthineers (Varian Medical Systems), Accuray Incorporated and OHC (One Health Company) are the major companies operating in the Veterinary Oncology Market.
Which is the fastest growing region in Veterinary Oncology Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Veterinary Oncology Market?
In 2024, the North America accounts for the largest market share in Veterinary Oncology Market.
What years does this Veterinary Oncology Market cover?
The report covers the Veterinary Oncology Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Veterinary Oncology Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Veterinary Oncology Industry Report
Statistics for the 2024 Veterinary Oncology market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Veterinary Oncology analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
