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Veterinary Oncology Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 111 Pages
  • June 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 5616885
UP TO OFF until Dec 31st 2023
The veterinary oncology market is projected to register a CAGR of nearly 11.3% over the forecast period of 2022-2027.

The COVID-19 pandemic led to disruption in not only the research and development activities of other therapies and drugs for medical conditions other than COVID-19 but also impacted the veterinary industry too as due to COVID-19 the logistics supply of various essential pharmaceutical products was negatively impacted during the pandemic along with the diagnostics and treatment procedures for the pets due to the lockdown restrictions. For instance, according to the survey conducted by a global animal health association called, Health for Animals between September 28th and October 9th, 2020, COVID-19 was the leading factor for the missed or delayed care for pets in many countries may affect the pets negatively. However, with the declining COVID-19 cases and ease of restrictions, the studied market is expected to regain its full potential over the years.

The increasing prevalence of cancer cases in animals is the major factor that is expected to drive growth in the veterinary oncology market as the burden of cancer cases in animals will increase, the demand for effective and advanced therapeutics for cancer treatment will also increase and studied market will grow during the forecast period. For instance, according to the research study published in January 2019 by K. C. Pinello et. al., lymphoma is one of the most common neoplasms in dogs and it is one of the top five causes of cancer-related deaths. Further, as per the article published in November 2019 by Lauren Mingus on Colorado State University site, about one in five cats will be diagnosed with cancer in their lifetime and due to the availability of treatments, many cats can continue to live quality lives after a cancer diagnosis. Also, as per the same source, some of the major cancer types in cats are lymphoma, squamous cell carcinoma, fibrosarcoma, and mammary cancer. Hence, owing to the high prevalence of cancer among animals, the demand for therapeutics is expected to increase which will drive growth in the studied market.

Furthermore, the increasing veterinary healthcare expenditure, growing adoption of pet health insurance and increasing research and development activities in the area for the development of effective therapeutics coupled with the new investments are further expected to augment the growth of the veterinary oncology market during the forecast period of the study. For instance, in March 2021, the Petco Foundation invested USD 75,000 grant which subsidizes the cost of cancer treatments for dogs and cats. However, high cost associated with the cancer treatment and lack of awareness about veterinary diseases among owners are the factors that will restrain the growth of the veterinary oncology market during the forecast period of the study.

Key Market Trends

Canine Animal Type Segment is Expected to Hold a Major Share in the Market

The canine animal segment is expected to hold a major market share in the veterinary oncology market owing to the high prevalence of cancer in canines, growing pet adoption, and increasing life expectancy of these animals which further increases the risk of cancer in the canine population. For instance, according to the American Veterinary Medical Association (AVMA), about one in four dogs will, at some stage in their lifetime, develop neoplasia, and approximately, half of the dogs over the age of 10 will develop cancer. Further as per the same source, dogs get cancer at roughly the same rate as humans and the treatment types may include one or a combination of therapies such as surgery, chemotherapy, radiation, cryosurgery (freezing), hyperthermia (heating), or immunotherapy.

Further, according to the research study published by Medha Karnik in February 2020, tumors of mesenchymal origin showed an incidence of 76.47% and an incidence of epithelial origin at 23.53% of dogs, and the highest incidence of tumors was found in female dogs than in male dogs. As per the same source, the breed wise incidence of tumors was highest in Labrador retriever (22.06%), followed by non-descriptive breeds (19.12%), Golden retriever (17.65%), German Shepherd dog (11.8%), Pomeranian (7.35%), Lhasa Apso (4.41 %), Daschound (4.41%), Boxer (2.94%), Saint Bernard (2.94%), Doberman (2.94%), Mudhol hound (2.94%) and Rajapalyam (1.44%). The study was conducted in Bengaluru, India. Moreover, the increasing product approvals and launch of new therapeutics are further expected to augment the growth of the studied segment. For instance, in July 2021, the United States Food and Drug Administration (FDA) approved Tanovea for the treatment of lymphoma in dogs. VetDC Inc. received approval from FDA for Tanovea.

North America is Expected to Dominate the Veterinary Oncology Market Over the Forecast Period

The North American region is dominated the veterinary oncology market over the years and is expected to show the same trend over the forecast period of the study due to the large animal population (especially pets) and increasing cancer burden, presence of better veterinary care, and services and increasing veterinary healthcare expenditure in the region. For instance, according to the February 2021 report of the Canadian Animal Health Institute (CAHI), in 2020 about 58% of the Canadian household had at least one dog or cat. The same source reported that the Canadian dog population increased from 7.6 million in 2018 to 7.7 million in 2020, and there were 8.1 million household cats in 2020 in the country. Thus, with a large population base of animals, the burden of cancer among animals is expected to be higher which is anticipated to drive the growth in the studied market.

In the North American region, the United States is expected to hold the largest share in the veterinary oncology market as the United States have one of the highest number of animals in the region coupled high animal health expenditure and high burden of animal cancer cases. For instance, according to the 2021-2022 American Pet Product Association (APPA) National pet Owners Survey, about 70% of the United States households owned a pet which is about 90.5 million homes and cats, and dogs were the major pets with total population of 45.3 million and 69 million, respectively. Further, as per the same source, pet owners spent about USD 458 for dogs and USD 201 for cats for surgical vet visits and for routine vet, they spent USD 242 and USD 178 for dogs and cats, respectively. This data shows a presence of large number of pet population in the country and spending on them which is usually high as compared to other regions. Further, with the growing burden of cancer in the country, the offering for cancer care for animals is increasing which also expected to augment the growth of the studied market in the country. For instance, in August 2019, VCA Animal Hospitals launched network of 35 VCA Pet CancerCare Centers across North America, and as per the survey conducted by VCA, 58% of pet owners would do everything possible to make the lives of their pets more comfortable if diagnosed with cancer. Therefore, due to the aforementioned factors, the veterinary oncology market is expected to grow significantly during the forecast period of the study in the country.

Competitive Landscape

With the rising focus on veterinary healthcare on cancer therapeutics, the key companies in the market are focusing on the development and launch of new products in the market. The veterinary oncology market is moderately competitive with the presence of many companies in the studied market. some of the major players in the market are Elanco, Zoetis, Siemens Healthineers (Varian Medical Systems), Accuray Incorporated, among others.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Prevalence of Cancer Cases in Animals
4.2.2 Increasing Investment and Research and Development in the Area of Veterinary Oncology
4.2.3 Increasing Veterinary Healthcare Expenditure and Growing Adoption of Healthcare Expenditure
4.3 Market Restraints
4.3.1 High Cost of Cancer Treatment and Procedures
4.3.2 Lack of Awareness About Veterinary Diseases Among Owners
4.4 Porters 5 Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1 By Treatment Type
5.1.1 Radiotherapy
5.1.2 Surgery
5.1.3 Chemotherapy
5.1.4 Other Treatment Types
5.2 By Animal Type
5.2.1 Canine
5.2.2 Feline
5.2.3 Others
5.3 By Application
5.3.1 Lymphoma Cancer
5.3.2 Mast Cell Cancer
5.3.3 Mammary and Squamous Cell Cancer
5.3.4 Others
5.4 Geography
5.4.1 North America United States Canada Mexico
5.4.2 Europe Germany United Kingdom France Spain Italy Rest of Europe
5.4.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.4.4 Middle East and Africa GCC South Africa Rest of Middle East and Africa
5.4.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Zoetis Inc.
6.1.2 Elanco
6.1.3 Boehringer Ingelheim International GmbH
6.1.4 PetCure Oncology
6.1.5 Siemens Healthineers (Varian Medical System, Inc.)
6.1.6 Morphogenesis, Inc.
6.1.7 Accuray Incorporated
6.1.8 Nippon Zenyaku Kogyo Co. Ltd. (ZENOAQ)
6.1.9 Regeneus Ltd.
6.1.10 OHC (One Health Company)
6.1.11 Karyopharm
6.1.12 AB Science

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Zoetis Inc.
  • Elanco
  • Boehringer Ingelheim International GmbH
  • PetCure Oncology
  • Siemens Healthineers (Varian Medical System, Inc.)
  • Morphogenesis, Inc.
  • Accuray Incorporated
  • Nippon Zenyaku Kogyo Co. Ltd. (ZENOAQ)
  • Regeneus Ltd.
  • OHC (One Health Company)
  • Karyopharm
  • AB Science