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  • Published On : Sep 2022
  • Code : CMI2995
  • Industry : Pharmaceutical
  • Pages : 225
  • Formats :

Veterinary oncology is a subspecialty of veterinary medicine that deals with cancer diagnosis and treatment in animals. Cancer is a major cause of death in pet animals. In one study for veterinary oncology cance , 45% of the dogs that reached 10 years of age or older died of cancer. Veterinary cancer therapies aim to permanently eradicate the cancerous cells prevalent in pets. The veterinarian recommends specific treatments such as targeted therapy and combination therapy or chemotherapy depending on the type of cancer, stage, and nature of the cancer.

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).

Figure 1. Global Veterinary Oncology Market Share (%), by Animal Type, 2022

Veterinary Oncology  | Coherent Market Insights

Increasing research & development initiatives and veterinary healthcare expenditure for cancer management is expected to drive growth of the global veterinary oncology market

Increasing number of research grants to launch various anti-cancer therapies for veterinary cancer treatment is expected to be a major factor driving growth of the veterinary oncology market during the forecast period. For instance, in 2017, Animal Cancer Foundation (ACF) received a US$ 1 million grant from the Blue Buffalo Foundation to support comparative oncology research to study similarities between naturally occurring cancers in people and pets and find effective treatment for both species.

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Veterinary Oncology Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2022: US$ 592.8 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 10.9% 2030 Value Projection: US$ 1,356.1 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Animal Type: Companion Animal (Equine, Canine, Feline), Livestock Animal
  • By Therapy Type: Chemotherapy, Combination Therapy, Immunotherapy, Targeted Therapy
  • By Mode of Administration: Oral, Intravenous
  • By Application: Canine Lymphoma, Osteosarcoma (OSA), Mast Cell Cancer, Melanoma, Multiple Myeloma
  • By Distribution Channel: Hospital Pharmacies, Government Agencies, Retail Pharmacies
Companies covered:

Zoetis Inc., Elanco, AB Science, Boehringer Ingelheim International GmbH, Zenoaq, VetDC, Morphogenesis, Inc., Karyopharm Therapeutics, Inc., Regeneus Ltd., AdvaVet, Inc., and Rhizen Pharmaceutical SA.

Growth Drivers:
  • Increasing research & development initiatives and veterinary healthcare expenditure for cancer management
  • Growing expenditure on animal healthcare due to increasing pet healthcare spending by pet owners, especially in the developed economies
Restraints & Challenges:
  • High cost associated with chemotherapies, immunotherapies, and targeted therapies

Figure 2. Global Veterinary Oncology Market Share (%), by Region, 2022

Veterinary Oncology  | Coherent Market Insights

Growing expenditure on animal healthcare due to increasing pet healthcare spending by pet owners, especially in the developed economies is major factor driving the veterinary oncology market growth.

For instance, according to the American Pet Products Association report released in March 2018, the overall spending in the U.S. veterinary care increased by 4.1% between 2017 and 2018, from US$ 66.75 billion to US$ 72.51 billion which is expected to bring development in animal treatment.

Global Veterinary Oncology Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 can affect the economy in three main ways: by directly affecting production and demand of drugs, medical devices and nutritional supplements by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, U.A.E., Egypt, and others, are facing problems with regards to the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a negative impact on the global veterinary oncology market, due decrease in research and development activities for the veterinary oncology. For instance, according to the data published by the global animal health association, in September, 2020, survey conducted by the Censuswide, a global survey provider, more than 1 in 10 pets (13%) missed essential, routine treatments like vaccines, and flea, tick or worm treatments.

Global Veterinary Oncology Market: Key Developments

On May 2 2022, according to data published by the U.S. Food and Drug Administration, Crofelemer delayed-release tablets (Canalevia-CA1; Jaguar Animal Health) for the treatment of chemotherapy-induced diarrhea (CID) in dogs, is now available by prescription from multiple leading veterinary distributors in the U.S. This drug product is a tablet that can be given orally twice a day and can be used for home treatment of CID. It received conditional approval from the FDA on December 21, 2021.

Global Veterinary Oncology Market: Restraint

The major factors that hinder growth of the global veterinary oncology market include high cost associated with chemotherapies, immunotherapies, and targeted therapies. For instance, in June 2017, according to the data published by the National Center for Biotechnology Information, the initial veterinary cancer diagnosis costs US$ 1,500 – US$ 3,000 while a standard course of chemotherapy costs US$ 3,500– US$ 5,000, depending on the type and severity of cancer.

Key Players

Major players operating in the global veterinary oncology market include Zoetis Inc., Elanco, AB Science, Boehringer Ingelheim International GmbH, Zenoaq, VetDC, Morphogenesis, Inc., Karyopharm Therapeutics, Inc., Regeneus Ltd., AdvaVet, Inc., and Rhizen Pharmaceutical SA.

Veterinary oncology is subspecialty of veterinary medicine that deals with the diagnosis and treatment of cancer in animals. With emerging technologies, the use of biotechnology products in veterinary medicines is increasing. Despite the costs that many times accompany the development of novel biotechnological products, recombinant virus vector vaccines, recombinant proteins such as bioactive cytokines and immunotherapeutic allergens, therapeutic antibodies, and oncolytic viruses are the result of advancements in biotechnology for veterinary medicines. The benefits associated with using biotechnology products are large-scale production, reduced costs, long-term action, and multiple antigen vaccines. A veterinary oncologist has specialized knowledge in the diagnosis of cancer, the staging of tumors, the development of treatment plans, and the administration of chemotherapy. Veterinary oncologists determine the most appropriate course of treatment and coordinate the treatment program for pets with cancer. They also frequently serve as consultants to veterinarians in private practice to ensure that their patients receive the best treatment possible for their cancer. There is ongoing research and clinical trials to develop new and effective treatment options for pets with cancer. Many veterinary medical advances have been made in recent years. One breakthrough treatment was the development of the ONCEPT Canine Melanoma Vaccine. ONCEPT Canine Melanoma Vaccine therapeutic vaccine is manufactured by Merial, a world leading, innovation-driven animal health company and the maker of many canine vaccines, including the world's leading rabies vaccines.

Market Dynamics

Increasing adoption of inorganic growth strategies such as partnership by the key players in the market for research and development program and awareness programs for the veterinary oncology treatment is expected to drive the market over the forecast period. For instance, in August 2022, a Siemens Healthineers company, a healthcare company, and the University of Illinois Veterinary Teaching Hospital partnered to provide a 2-day clinical educational program in veterinary radiation oncology. According to a company release, the inaugural clinical ‘school,’ hosted by Varian Veterinary Oncology, occurred on from August 12 – 13, 2022. Custom designed for the veterinary radiation oncology team, the curriculum will hone in on clinical workflows, clinical implementation, treatment planning, and treatment delivery. Participants will obtain instruction on radiotherapy and similar topics and will participate in hands-on workshops.

Key features of the study:

  • This report provides an in-depth analysis of the global veterinary oncology market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global veterinary oncology market  based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Zoetis Inc., Elanco, AB Science, Boehringer Ingelheim International GmbH, Zenoaq, VetDC, Morphogenesis, Inc., Karyopharm Therapeutics, Inc., Regeneus Ltd., AdvaVet, Inc., and Rhizen Pharmaceutical SA.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global veterinary oncology market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global veterinary oncology market

Detailed Segmentation:

  • Global Veterinary Oncology Market, By Animal Type:
    • Companion Animal
      • Equine
      • Canine
      • Feline
    • Livestock Animal
  • Global Veterinary Oncology Market, By Therapy Type:
    • Chemotherapy
    • Combination Therapy
    • Immunotherapy
    • Targeted Therapy
  • Global Veterinary Oncology Market, By Mode of Administration:
    • Oral
    • Intravenous
  • Global Veterinary Oncology Market, By Application:
    • Canine Lymphoma
    • Osteosarcoma (OSA)
    • Mast Cell Cancer
    • Melanoma
    • Multiple Myeloma
  • Global Veterinary Oncology Market, By Distribution Channel:
    • Hospital Pharmacies
    • Government Agencies
    • Retail Pharmacies
  • Global Veterinary Oncology Market, By Region:
    • North America
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Region/Country
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Zoetis Inc.*
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Strategies
    • Elanco
    • AB Science
    • Boehringer Ingelheim International GmbH
    • Zenoaq
    • VetDC
    • Morphogenesis, Inc.
    • Karyopharm Therapeutics, Inc.
    • Regeneus Ltd.
    • AdvaVet, Inc.
    • Rhizen Pharmaceutical SA

“*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

The global veterinary oncology market size is estimated to be valued at US$ 592.8 million in 2022 and is expected to exhibit a CAGR of 10.9% between 2022 and 2030.
Factors such as increasing research & development initiatives and veterinary healthcare expenditure for cancer management and growing expenditure on animal healthcare due to increasing pet healthcare spending by pet owners, especially in the developed economies are expected to drive the market growth.
Companion animal is the leading animal type segment in the market.
The major factors hampering growth of the market include high cost associated with chemotherapies, immunotherapies, and targeted therapies.
Major players operating in the market include Zoetis Inc., Elanco, AB Science, Boehringer Ingelheim International GmbH, Zenoaq, VetDC, Morphogenesis, Inc., Karyopharm Therapeutics, Inc., Regeneus Ltd., AdvaVet, Inc., and Rhizen Pharmaceutical SA.

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