Market Trends of Veterinary Oncology Industry
Canine Animal Type Segment Expected to Hold a Significant Market Share Over the Forecast Period
The canine animal segment is poised to dominate the veterinary oncology market, driven by the high incidence of cancer in canines, growing pet adoption rates, and longer lifespans of these animals, which increase the likelihood of cancer.
Cancer is the leading cause of death in dogs, largely because many cases are diagnosed at advanced stages when the prognosis is unfavorable and clinical symptoms have emerged. For instance, in June 2022, a Frontiers article reported on a study in Mainland China, which found that canine mammary tumors were the most prevalent type of tumors in dogs, accounting for 46.71% of cases in the past five years, with 48.41% of the tumors being benign and 51.59% being malignant, and pure breeds accounting for 84.13% of cases. Therefore, the increasing incidence of tumors in dogs is anticipated to further drive growth in this segment.
Additionally, the increasing number of clinical trials, product approvals, and new therapeutics launches are expected to bolster the growth of the segment. For instance, in August 2023, the Bernese Mountain Dog Club of America funded a study evaluating novel treatment for histiocytic sarcoma. This study aimed to evaluate the potential of a cancer drug to control tumor growth and improve outcomes for dogs with histiocytic sarcoma, an aggressive and typically fatal canine cancer.
Thus, all aforementioned factors, such as the growing burden of cancer in the canine population and strategic activities by market players, are expected to contribute to segment growth over the forecast period.
North America Expected to Hold a Significant Market Share Over the Forecast Period
The veterinary oncology market in North America has held a significant share over the years. This trend is expected to continue during the forecast period. This can be attributed to several factors, such as the large animal population, including pets, increasing cancer burden, the presence of better veterinary care and services, and rising veterinary healthcare expenditure in the region.
The growing pet population and its adoption are expected to increase the attention toward pet health, which is likely to contribute to market growth over the forecast period. For instance, according to data from the Canadian Animal Health Institute (CAHI) in September 2022, more than half of Canadian households (60%) owned at least one dog or cat in 2022. Additionally, the dog population increased to 7.9 million, and the cat population increased to 8.5 million in the same year. With such a large animal population, the burden of cancer among animals is expected to be higher, which is likely to drive the growth of the veterinary oncology market.
In North America, the United States is expected to hold a significant share of the veterinary oncology market due to having one of the highest numbers of animals in the region, coupled with high animal health expenditure and a high burden of animal cancer cases. According to the 2023-2024 American Pet Product Association’s (APPA) National Pet Owners Survey, about 66% of households in the United States owned a pet, which translated to about 86.9 million homes. Cats and dogs were the major pets, with total populations of 45.3 million and 69 million, respectively.
Furthermore, pet owners in the United States spend significantly on veterinary care. They spend about USD 458 for dogs and USD 201 for cats for surgical vet visits, and for routine vet visits, they spent USD 242 and USD 178 for dogs and cats, respectively. This indicates the significant presence of a large pet population in the country and the high cost of their healthcare needs. With the growing burden of cancer in the country, research for animal cancer care is increasing, which is expected to augment the growth of the veterinary oncology market. For instance, in November 2022, NCI-funded canine immunotherapy clinical trials were conducted.
Considering all of these factors, the veterinary oncology market is expected to grow significantly during the forecast period in North America.
