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Veterinary Oncology Market Trends

Report ID: GMI8527
Published Date: Mar 2024
Report Format: PDF

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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.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global veterinary oncology industry size was USD 923.5 million in 2023 and is predicted to reach USD 1.7 billion by 2032, due to increasing pet ownership and awareness along with significant focus on early detection and diagnosis of cancer in animals.

The cancer diagnostics & treatment segment recorded 56.2% of the market share in 2023, driven by the strong potential for localized treatment.

North America veterinary oncology market size was USD 400.8 million in 2023 and is anticipated to grow at 6.9% CAGR between 2024 – 2032, led by the escalating governmental support for pet oncology treatment and the growing emphasis on pet health.

Some of the prominent veterinary oncology firms include AB Science, Accuray Incorporated, Boehringer Ingelheim International GmbH, Elanco, NIPPON ZENYAKU KOGYO CO., LTD, PetCure Oncology, Regeneus Ltd, Varian Medical Systems, Inc, and Virbac Corporation.