Veterinary Oncology Market Analysis

Veterinary Oncology Market Analysis

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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.