U.S. Veterinary Oncology Market Size, Share & Trends Report

U.S. Veterinary Oncology Market Size, Share & Trends Analysis Report By Therapy (Surgery, Radiology, Chemotherapy, Immunotherapy), By Animal Type (Canine, Feline), And Segment Forecasts, 2021 - 2028

  • Published Date: Jun, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68039-370-4
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 110

Report Overview

The U.S. veterinary oncology market size was valued at USD 75.9 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.4% from 2021 to 2028. The major contributors to this market growth are the increasing prevalence of cancer cases coupled with rising companionship, technological advancements in cancer therapeutics, and ongoing clinical trials related to veterinary oncology. Moreover, owners are willing to spend on their pet health is another driving factor for the increasing adoption of pet cancer therapies.

U.S. veterinary oncology market size, by therapy, 2016 - 2028 (USD Million)

COVID-19 pandemic has changed the pet owners’ relationships with their companions. Owners grow more attached to their pets. It acted as a catalyst for rapid business and economic changes. As various governments across the world urged individuals to stay at home during the pandemic, many people found comfort and companionship through pets. The pet expenditure has witnessed an increase during the coronavirus breakdown. At the animal shelters in the country, adoption rates soared as much as 40% in 2020 as compared to 2019.

Growing R&D in veterinary oncology to provide the best treatment to pets with cancer is a major boon for the market. An increase in investments related to pet cancer therapeutics by organizations is expected to fuel market growth. The corporations are engaging in strategies such as licensing, R&D collaborations, and business development to robust their product pipeline in veterinary oncology. For instance, in 2020, Boehringer Ingelheim spent USD 412 million on their R&D activities.

Veterinary medicine has evolved and advances in technology permit to provide medical attention to pets as it is available for humans. Technological update in the veterinary sector to provide an effective treatment to companion animals drives the market for veterinary oncology. For instance, in December 2019, Upstate Vet’s oncology department added an innovative Halcyon treatment system for radiation therapy. Upstate Vet delivers advanced medical, surgical, cancer, eye care, and dental for pets in the U.S.

In addition, the presence of major players operating in the U.S. market for veterinary oncology is further contributing towards market growth. Participants in the country are actively involved in product expansion strategies to gain a competitive advantage. For instance, in January 2021, CureLab Oncology started CureLab Veterinary, a subsidiary with exclusive rights to use CureLab Oncology patents for the treatment of canines, felines, and horses worldwide. The first target market for the subsidiary's patented DNA therapeutics is canines and felines. The company also has 7 R&D sites in the U.S. This indicates the strong presence of the company in the U.S. market for veterinary oncology.

Therapy Insights

The radiology segment dominated the market for veterinary oncology and accounted for the largest revenue share of 28.0% in 2020. Radiology is often carried out with surgery to help excise tumors. Increasing government initiatives to the establishment of a new veterinary radiation center in the U.S. is propelling the market growth. For instance, in November 2020, at Roanoke, Virginia, Virginia Tech’s Animal Cancer Care and Research Center started a radiation therapy facility for pets that has a Varian LINAC accelerator installed.

The LINAC also consists of Rapid Arc technology, which can rotate 360 degrees while delivering the radiation to treat different types of tumors in companion animals. Establishments of this new state of the art in radiology centers focused on pet cancer treatment are further driving the growth.

The immunotherapy segment is expected to grow at the fastest rate due to the increasing number of veterinary centers focused on carrying out clinical trials in immunotherapy. For instance, The University of Pennsylvania along with Penn Vet Cancer Center is involved in carrying out immunotherapy clinical trials.

Animal Type Insights

The canine segment dominated the U.S. veterinary oncology market and accounted for the largest revenue share of around 60.0% in 2020. The rising prevalence of canine cancer boosts the demand for an effective treatment modality. Increasing R&D initiatives and a growing number of clinical trials support the market dominance. For instance, in November 2019, The UC Davis School of veterinary medicine became part of the Vaccination Against Canine Cancer Study (VACCS) trial, the largest clinical trial to evaluate a new vaccine strategy for the treatment and prevention of cancer in dogs.

U.S. veterinary oncology market share, by animal type, 2020 (%)

An increase in clinical trial activities specific to canine cancer therapeutics is expected to propel market growth in the coming years. For instance, in March 2020, The Comparative Oncology Research Laboratory and the University of Illinois Cancer Care Clinic publicized 2 clinical trials for canines with cancer. Other supportive drugs are still in the pipeline and, if approved, can significantly boost the market.

Cats are the second most popular choice of pet by the owners in the U.S. Increased concern regarding their health and hygiene is driving the segment growth. According to the published article in NCBI in 2019, Squamous cell carcinoma is the most common malignant oral tumor in the feline population. The growing number of cats diagnosed with cancer is expected to boost the demand for veterinary oncology products in the U.S.

Key Companies & Market Share Insights

The market for veterinary oncology in the U.S. is competitive as players operating in the industry are focusing on research collaborations, product development, geographic expansion, and investment in innovative technologies. For instance, in May 2020, PetCure Oncology and Sugar Land Veterinary Specialists publicized a novel radiation oncology service, expanding their network in Houston.

Moreover, in January 2021, the U.S. FDA conditionally approved verdinexor tablets by Karyopharm Therapeutics Inc. to treat lymphoma in canines. This is the first oral treatment to treat dogs with lymphoma. Some of the prominent players in the U.S. veterinary oncology market include:

  • Boehringer Ingelheim International GmbH

  • Elanco

  • Zoetis

  • PetCure Oncology

  • Accuray Incorporated

  • Varian Medical System, Inc.

  • Morphogenesis, Inc.

  • Karyopharm Therapeutics, Inc.

  • Regeneus Ltd.

  • One Health

U.S. Veterinary Oncology Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 81.7 million

Revenue forecast in 2028

USD 143.2 million

Growth Rate

CAGR of 8.4% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Therapy, animal type

Country scope

The U.S.

Key companies profiled

Boehringer Ingelheim International GmbH; Elanco; Zoetis; PetCure Oncology; Accuray Incorporated; Varian Medical System, Inc; Morphogenesis, Inc.; Karyopharm Therapeutics, Inc.; Regeneus Ltd.; One Health

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Segments Covered in the Report

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the U.S. veterinary oncology market report on the basis of therapy and animal type:

  • Therapy Outlook (Revenue, USD Million, 2016 - 2028)

    • Surgery

    • Radiology

      • Stereotactic Radiation Therapy

        • Gamma Knife

        • LINAC

        • PBRT

        • CyberKnife

      • Brachytherapy

      • Others

    • Chemotherapy

    • Immunotherapy

    • Others

  • Animal Type Outlook (Revenue, USD Million, 2016 - 2028)

    • Canine

      • Lymphoma

      • Mast cell cancer

      • Mammary and Squamous cell cancer

      • Others

    • Feline

      • Mammary and Squamous cell cancer

      • Others

    • Others

Frequently Asked Questions About This Report

Pricing & Purchase Options

Service Guarantee

  • Insured Buying

    This report has a service guarantee. We stand by our report quality.

  • Confidentiality

    We are in compliance with GDPR & CCPA norms. All interactions are confidential.

  • GDPR.EU
  • Custom research service

    Design an exclusive study to serve your research needs.

  • 24/5 Research support

    Get your queries resolved from an industry expert.

Buy Chapters or Sections

Avail customized purchase options to meet your exact research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities