Veterinary oncology market

Veterinary Oncology Market, by Animal Type (Companion Animal (Equine, Canine, and Feline), and Livestock Animal), by Therapy Type (Chemotherapy, Combination Therapy, Immunotherapy, and Targeted Therapy), by Mode of Administration (Oral and Intravenous), by Application (Canine Lymphoma, Osteosarcoma (OSA), Mast Cell Cancer, Melanoma, and Multiple Myeloma), by Distribution Channel (Hospital Pharmacies, Government Agencies, and Retail Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Request Free Sample

Sep 2022
CMI2995
225 Pages
Excel & Pdf
Pharmaceutical

Summary

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

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.

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

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.

Table of Content

Table of Contents

*Browse 47 market data tables and 45 figures on "Global Veterinary Oncology Market” - forecast to 2030

Segmentation

Detailed Segmentation:

- Frequently Asked Questions -

What is the current market size and compound annual growth rate (CAGR) of the global veterinary oncology market during the forecast period (2022-2030)?

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.

What are the major factors driving the market growth?

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.

Which is the leading animal type segment in the market?

Companion animal is the leading animal type segment in the market.

What are the key factors hampering growth of the market?

The major factors hampering growth of the market include high cost associated with chemotherapies, immunotherapies, and targeted therapies.

Which are the major players operating in the market?

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.