Veterinary Oncology Market – By Cancer Diagnostics & Treatment (Diagnostics [Imaging, Biopsy], Treatment [Surgery, Chemotherapy]), Animal Type (Canine, Feline, Equine), Cancer Type (Mast Cell Tumors, Lymphomas, Melanoma) - Global Forecast, 2024 – 2032

Veterinary Oncology Market Size

Veterinary Oncology Market size was valued at USD 923.5 million in 2023 and is predicted to reach USD 1.7 billion by 2032, showcasing growth of 7.1% from 2024 – 2032 period. The growth of this market can be attributed to factors such as increasing pet ownership and awareness, significant focus on early detection and diagnosis of cancer in animals, as well as advances in diagnostic tools.
 

Also, growing expenditure on animal healthcare in developed nations, government initiatives for veterinary cancer treatment, and increased adoption of pets are important factors driving market expansion. According to the data provided by the Canadian Animal Health Institute (CAHI) in September 2022, it was reported that approximately 60% of Canadian families owned at least one dog or cat during 2020 to 2022. Thus, with such a sizable population of animals, it is anticipated that the incidence of cancer among them will be elevated, thereby contributing to the expansion of the market.
 

Veterinary oncology is a specialized field of veterinary medicine that focuses on the diagnosis, treatment, and prevention of cancer in animals. It involves the management of cancer in various animal species, including dogs, cats, horses, and other companion animals.
 

Veterinary Oncology Market Trends

• Cancer is the primary cause of mortality in pets beyond middle age. As a result, owing to the increased prevalence of cancer among animals such as dogs, demand for therapies is anticipated to grow in upcoming years.
   
• For instance, according to a research study published by Aging and Cancer in February 2022, it is projected that 1 in 4 dogs are diagnosed with cancer in their lifetime. Therefore, as the number of cancer cases in animals continues to grow, there is an anticipated increase in demand for advanced and efficient cancer therapeutics, which is expected to propel growth within the market.
   

However, high cost of cancer treatment and procedures and adverse effects of drugs may hamper the market growth to certain extent.
 

Veterinary Oncology Market Analysis

The market based on cancer diagnostics & treatment is segmented into diagnostics and treatment. The cancer treatment segment accounted for majority of market share of 56.2% in 2023.
 

• Surgical intervention is a crucial and frequently employed treatment option in veterinary oncology. This approach involves the physical removal of tumors or cancerous tissues from the affected animal. The advantages of surgical intervention in veterinary oncology are notable and contribute significantly to the overall management of cancer in animals.
   
• One primary advantage of surgery is its potential for localized treatment. In cases where the cancer is confined to a specific area or organ, surgical removal of the tumor can be curative, eliminating the cancerous cells and preventing further spread. This is particularly relevant in cases of solid tumors or masses that are accessible and well-defined.

Based on animal type, the veterinary oncology market is classified into canine, feline, equine, and other animal types. The canine segment is expected to hold 7.2% CAGR throughout the forecast period.
 

• The segmental growth is attributable to the increasing high prevalence of cancer in canines, growing rate of pet adoption, and longer lifespans of these animals, all of which raise the probability of cancer. According to a Frontiers article published in March 2021, cancer stands as the primary cause of death in dogs.
   
• This is predominantly attributed to the frequent diagnosis of cases at advanced stages, wherein the prognosis is less favourable and clinical symptoms have become apparent. Hence, due to this, the growing number of product approvals and launch of new therapeutics for canine cancer is anticipated to bolster the market expansion.
   

The veterinary oncology market based on cancer type is classified into mast cell tumors, mammary tumors, lymphomas, melanoma, and other cancer types. The lymphoma segment is expected to reach USD 487.3 million by 2032.
 

• The progression of therapeutic options for lymphoma, characterized by the introduction of innovative chemotherapy agents, immunomodulatory drugs, and targeted therapies tailored for veterinary applications, is poised to bring forth enhanced treatment alternatives and increased survival rates for animals affected by this condition. As a result, there is a rising emphasis on comprehensive patient care and support services for animals diagnosed with lymphoma, encompassing nutritional support, pain management, palliative care, and owner education.

North America veterinary oncology market accounted for USD 400.8 million market revenue in 2023 and is anticipated to grow at CAGR of 6.9% between 2024 – 2032.
 

• The growing emphasis on pet health, the presence of pet drug manufacturers, and the quick uptake of cutting-edge pet care products are among the factors projected to drive the growth of the regional market over the analysis period.
   
• Furthermore, the escalating governmental support for pet oncology treatment, the adoption of pet insurance, and the growing awareness pertaining to in the oncology sector, especially for early diagnosis, contribute significantly to propelling the regional market size.
   

Veterinary Oncology Market Share

The veterinary oncology industry is characterized by the presence of several key players offering innovative solutions. The strategic partnerships, mergers, and acquisitions are common strategies employed by players to expand their market presence, enhance their product portfolios, and gain a competitive advantage.
 

Veterinary Oncology Market Companies

Prominent players operating in the veterinary oncology industry include:

• AB Science
• Accuray Incorporated
• Boehringer Ingelheim International GmbH
• Elanco
• Karyopharm Therapeutics, Inc
• NIPPON ZENYAKU KOGYO CO., LTD
• PetCure Oncology
• Regeneus Ltd
• Varian Medical Systems, Inc
• Virbac Corporation
• Zoetis Services LLC
   

Veterinary Oncology Industry News:

• In July 2023, Ardent Animal Health and FidoCure announced a partnership aimed at expanding access to oncology innovation in the veterinary medicine sector. This collaboration combines Ardent's advanced cancer treatment pipeline with FidoCure's genomic testing and precision medicine platform to enhance the care for pets diagnosed with cancer. Such initiatives help companies to strengthen its product offerings and market position.
   
• In July 2021, Elanco received U.S. FDA approval for its TANOVEA as the first treatment for lymphoma in dogs. This approval signifies a major advancement in the field, providing veterinarians with a new tool to combat lymphoma, a common cancer affecting dogs.
   

The veterinary oncology market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 – 2032 for the following segments:

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Market, By Cancer Diagnostics & Treatment

• Diagnostics
  • By type
    • Imaging
    • Biopsy
    • Endoscopy
    • Other diagnostics
  • By end-use
    • Veterinary hospitals & clinics
    • Diagnostics centers
    • Other end-users
• Treatment
  • By type
    • Surgery
    • Radiotherapy
    • Chemotherapy
    • Immunotherapy
    • Other treatments
  • By End-use
    • Veterinary hospitals
    • Veterinary clinics
    • Other end-users

Market, By Animal Type

• Canine
• Feline
• Equine
• Other animal types

Market, By Cancer Type

• Mast cell tumors
• Mammary tumors
• Lymphomas
• Melanoma
• Other cancer types

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • Rest of Middle East and Africa