Global 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)
was valued at US$ 401.8
in 2018, and is projected to exhibit a CAGR of 10.9%
over the forecast period (2019 - 2026), as highlighted
in a new report published by .
Players operating in the global veterinary oncology market are focused on development, licensing, and commercialization of innovative therapeutics for dogs, cats, and horses. For instance, in 2017, the U.S. Food and Drug Administration conditionally approved Tanovea-CA1 (rabacfosadine) for injection for a term of one year. The drug manufactured by VetDC, Inc. is the first animal drug intended for the treatment of canine lymphoma. The conditional approval allows the drug manufacturer to legally sell Tanovea-CA1, before standard of effectiveness for full approval.
Moreover, the patented formulation of doxorubicin and patented XR17 technology by Oasmia Pharmaceuticals AB, Doxosphos Vet is currently under development for the treatment of lymphoma in dogs.
In addition to this, veterinary pharmaceutical companies are focused on strategic collaborations to develop and commercialize cancer treatments for companion animals. For instance, in 2017, Karyopharm and Anivive Lifesciences entered into an exclusive global license agreement to research and develop and commercialize Verdinexor (KPT-335), a drug for the treatment of lymphoma, which is in phase 2b of clinical trials.
Browse 47 Market Data Tables and 45 Figures spread through 225 Pages and in-depth TOC on "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) - Global Forecast to 2026"
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Besides, increasing demand for immunotherapy for the treatment of cancer in animals is expected to boost the market growth. Several immunotherapies for animals have been approved by the U.S. FDA. For instance, in 2016, Lymphocyte T-Cell Immunomodulator manufactured by T-Cyte Therapeutics, Inc. received a conditional license from the U.S. Department of Agriculture (USDA) for cats with Feline leukemia virus (FeLV).
Key Takeaways of the Veterinary Oncology Market:
- The global veterinary oncology market is expected to witness a CAGR of 10.9% during the forecast period (2019–2026), owing to increasing number of approvals from regulatory agencies for novel therapies
- Among animal type, the companion animal segment is expected to hold major revenue share in 2026, owing to increasing R&D activities and manufacturing facility based on veterinary oncology for companion animals. For instance, in April 2018, Zoetis, Inc. established its animal vaccine research and manufacturing facility in Suzhou, China, which is focused on development and production of quality vaccines for companion animals.
- Major players operating in the global veterinary oncology market include, Zoetis Inc., Elanco, AB Science, Boehringer Ingelheim International GmbH, Zenoaq, VetDC Inc., Morphogenesis, Inc., Karyopharm Therapeutics, Inc., Regeneus Ltd., AdvaVet, Inc., and Rhizen Pharmaceutical SA