The veterinary oncology market is experiencing significant growth due to the increasing prevalence of cancer in companion animals, growing pet ownership and spending, and the rising awareness among pet owners about the availability of treatment options for cancer in animals. The market is also being driven by advancements in veterinary oncology treatments and diagnostics, such as chemotherapy, radiation therapy, and immunotherapy. Additionally, the increasing number of veterinary oncology specialists and the rising demand for personalized treatment options are expected to drive market growth. However, the high cost of treatment and the lack of awareness among pet owners in some regions may hinder market growth. The North American region dominates the veterinary oncology market, followed by Europe and Asia Pacific.
The global Veterinary Oncology Market is estimated to be valued at US$ 592.8 million in 2022 and is expected to exhibit a CAGR of 10.9% during the forecast period (2022-2030).
Major Players in the Veterinary Oncology Industry:
Zoetis Inc.
Zoetis is a global animal health company that develops and manufactures medicines, vaccines, and diagnostic products for livestock and pets. The company was founded in 2013 and is headquartered in Parsippany, New Jersey, USA. Zoetis operates in over 100 countries. In 2020, Zoetis acquired Ethos Diagnostic Science, a veterinary reference laboratory that offers advanced diagnostics for cancer and other diseases in pets.
Elanco
Elanco is another animal health company that focuses on developing and producing medicines and vaccines for livestock and pets. The company was founded in 1954 and is headquartered in Greenfield, Indiana, USA. Elanco operates in more than 90 countries. In 2021, Elanco announced the launch of Galliprant® (grapiprant tablets) for the treatment of osteoarthritis pain in dogs. While not specifically for oncology, the drug could provide pain relief for dogs with cancer-related bone pain.
AB Science
AB Science is a French pharmaceutical company that specializes in developing drugs for the treatment of cancer and rare diseases. The company was founded in 2001 and is headquartered in Paris, France. AB Science operates in several European countries, as well as in the US and Asia. In 2021, AB Science announced positive results from a phase 2 study of its tyrosine kinase inhibitor, masitinib, in dogs with oral squamous cell carcinoma, a common type of canine cancer.
Boehringer Ingelheim International GmbH