Veterinary Oncology Market Size (2024 - 2029)

Veterinary Oncology Market Analysis

The Veterinary Oncology Market is expected to register a CAGR of 5% during the forecast period.

Factors such as the rising prevalence of cancer in animals, increasing investments in research and development in the area of veterinary oncology, and growing veterinary healthcare expenditure are expected to drive market growth.

As the burden of cancer cases in animals increases, the demand for effective and advanced therapeutics for cancer treatment is also expected to rise, driving growth in the market studied. For instance, according to a research study published in Aging and Cancer in February 2022, it was estimated that one in four dogs would be diagnosed with cancer in their lifetime. Cancer is the leading cause of death in pets beyond middle age. Therefore, due to the high prevalence of cancer among animals such as dogs, the demand for therapeutics is expected to increase, driving growth in the market studied.

Moreover, the increasing veterinary healthcare expenditure, growing adoption of pet health insurance, and rising research and development activities for the development of effective therapeutics, coupled with new investments, are further expected to augment the growth of the veterinary oncology market during the forecast period. For instance, in January 2024, the Morris Animal Foundation unveiled its latest cohort of eight grant recipients. These researchers are poised to drive forward the Foundation's mission of enhancing the quality of life for canines battling cancer through innovative research endeavors.

The growing burden of cancer in pets is expected to increase demand for veterinary oncology drugs over the forecast period. For instance, according to Kansas City Veterinary Medical Association’s data in July 2022, purebred dogs were 1.9 times more likely to develop cancer than non-purebred dogs in 2022. Thus, the significant burden of cancer in dogs is expected to boost the market over the forecast period.

Moreover, strategic activities by market players, such as funding initiatives, are expected to contribute to market growth over the forecast period. For instance, in November 2022, UW School of Veterinary Medicine received a grant of USD 75,000 to offer life-saving cancer care to pets and their families. The grant was to be distributed on a first-come, first-served basis of up to USD 4,000 per client. Additionally, in May 2022, Jaguar Health launched the Canine Cancer: Take C.H.A.R.G.E. (Canine Health And Registry Exchange). It is a national canine cancer registry that aims to provide the veterinary community and dog owners with vital incidence and prevalence data to aid in the diagnosis and treatment decisions of canine cancer.

Thus, the growing burden of cancer in pets and strategic initiatives taken by the government and market players are expected to contribute to the segment’s growth over the forecast period. However, the high costs associated with cancer treatment and the lack of awareness about veterinary diseases among pet owners are factors that may restrain the growth of the veterinary oncology market during the forecast period.

Veterinary Oncology Industry Segmentation

As per the scope of the report, cancer therapies are drugs that block the growth and proliferation of cancer by interfering with specific molecules, such as DNA or proteins, which are involved in the growth or expansion of cancerous cells. These therapies include surgery, radiation therapy, chemotherapy, and immunotherapy. The report includes revenue for cancer therapies provided to animals.

The veterinary oncology market is segmented by treatment type, animal type, application, and geography. By treatment type, the market is segmented into radiotherapy, surgery, chemotherapy, and other treatment types. By animal type, the market is segmented into canine, feline, and other animal types. By application, the market is segmented into lymphoma cancer, mast cell cancer, mammary and squamous cell cancer, and other applications. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 countries across major regions globally.

The report offers the market sizes and forecasts in value (USD) for the above segments.