U.S. Veterinary Oncology Market Size, Share & Trends Analysis Report By Therapy (Surgery, Radiology, Chemotherapy, Immunotherapy), By Animal (Canine, Feline), By Cancer Type (Skin Cancer, Lymphoma, Sarcomas), And Segment Forecasts, 2024 - 2030

U.S. Veterinary Oncology Market Trends

The U.S. veterinary oncology market size was estimated at USD 495.94 million in 2023 and is projected to grow at a CAGR of 10.76% from 2024 to 2030. The market is primarily driven by advancements in cancer treatment technologies like stereotactic radiation therapy, increasing pet ownership and expenditure on advanced care, and the growing prevalence of cancer in pets. In addition, the expansion of specialized veterinary oncology services and telehealth options is contributing to market growth.

For instance, PetCure Oncology, a leader in veterinary cancer care, has reached a significant milestone by treating over 8,000 pets with advanced stereotactic radiation therapy in U.S. since 2015 This innovative approach, which reduces treatment time and minimizes anesthesia risks, highlights the growing demand for specialized cancer treatments in the U.S. market. PetCure's expansion and adoption of telehealth further underscore the increasing need for accessible and effective pet oncology services across the country.

An increase in pet insurance adoption drives market growth in North America by reducing financial barriers for pet owners. This growth in insurance coverage facilitates access to advanced cancer treatments and diagnostics, boosting demand for veterinary oncology services. According to the AVMA, pet owners are increasingly turning to pet insurance to manage the costs associated with their pets' healthcare. The market is expected to grow at a significant pace over the forecast period, driven by advancements in veterinary oncology therapy, increasing demand for early disease detection and personalized treatment options in pets, and the presence of a large number of key players in the region.

The growing investments from nonprofit organizations, veterinary institutions, and industry leaders, such as Petco Love and Blue Buffalo, for funding cancer research and treatment advancements, are expected to contribute to market growth. For instance, In May 2024, Petco Love and Blue Buffalo renewed their 14-year partnership to combat pet cancer with an additional $1 million investment, bringing their total commitment to $20 million. This funding supports 12 university veterinary oncology programs in the U.S., enhances research, and provides treatment grants, addressing the leading disease-related cause of death for dogs and cats in the country.

Between 2020 and 2022, there was a notable rise in spending on veterinary care for dogs, with the average annual expenditure for veterinary visits increasing from $224 in 2020 to $362 in 2022. California, New York, and Florida were identified as the states with the highest number of insured pets. In addition, the North American Pet Health Insurance Association (NAPHIA) stated that the pet insurance market in the U.S. reached approximately $3.2 billion in 2023. By the end of 2022, the number of insured pets in the U.S. had grown to around 4.8 million, a 22% increase compared to 2021.

Market Concentration & Characteristics

The market is moderately concentrated, with key players including Zoetis, Merck Animal Health, and Elanco. The market is characterized by the increasing adoption of advanced therapies, a growing prevalence of pet cancer, and a rising focus on personalized treatment options.

The market is characterized by a high degree of innovation, driven by advancements in targeted therapies, immunotherapies, and precision medicine. Emerging technologies, such as liquid biopsy and next-generation sequencing, are significantly enhancing diagnostic and treatment capabilities. Furthermore, recent advances in veterinary oncology are transforming cancer treatment for pets. Innovations such as targeted therapies, including Toceranib and Masitinib, and immunotherapies, like monoclonal antibodies and immune checkpoint inhibitors, offer more effective and less toxic options.

The market has seen a significant increase in M&A activities, with numerous acquisitions aimed at expanding capabilities and market reach. Key deals include Mars' acquisition of VCA Inc. and JAB Holdings' acquisition of Compassion-First Pet Hospitals, highlighting the consolidation trend in the sector. For instance, in September 2023, Zoetis acquired the Munich-based biotech company Adivo, known for its innovative therapeutic antibodies for companion animals. This acquisition enhances Zoetis' capabilities in veterinary oncology, potentially accelerating the development of new treatments for canine cancers and inflammatory diseases.

Regulations in the U.S. significantly impact the approval and availability of new treatments. Stringent FDA requirements for safety and efficacy can delay product launches but ensure high-quality standards, ultimately influencing market growth and innovation. For instance, in January 2024, Elias Animal Health received federal regulatory approval from the U.S. Department of Agriculture for its innovative bone cancer treatment for dogs. After nearly a decade of clinical trials, the treatment is set to launch in the fourth quarter, with potential annual revenues of up to $100 million. This approval marks a significant advancement in the U.S. market, as the treatment offers a chemotherapy-free option for canine osteosarcoma.

The impact of product substitutes on the market includes reduced demand for traditional treatments, potentially lowering market growth. Innovations like CBD-based therapies and non-invasive treatments are increasingly preferred due to fewer side effects and improved pet quality of life.

Key players in the market, such as Zoetis Inc., Elanco Animal Health, and Merck Animal Health, are expanding regionally by enhancing their distribution networks and investing in new facilities. These expansions aim to improve access to advanced oncology treatments and meet the growing demand for veterinary cancer care across different states. Similarly, some of the startups are expanding their technologies to gain access to a large number of the patient population. For instance, in December 2023, ImpriMed, a California-based startup, is advancing veterinary oncology with its AI-powered technology for personalized cancer treatment in dogs and cats. The company plans to expand this technology into human oncology, leveraging its experience in predicting drug efficacy to enhance treatment outcomes. ImpriMed's services are already used by over 350 veterinarians in the U.S., emphasizing its significant impact on market growth.

Animal Type Insights

Based on animal type, the canine segment led the market with the largest revenue share of 86.49% in 2023. Dogs are more prone to various cancers compared to other pets, leading to a greater demand for oncology services. In addition, the availability of specialized treatments, including surgery, radiation, and chemotherapy, designed for dogs drives market growth. For instance, in November 2023, a study published by the University of Colorado Cancer Center stated that a new clinical trial at Colorado State University is exploring CAR T-cell therapy for dogs with metastatic osteosarcoma, reflecting the growing demand for advanced cancer treatments in canine oncology. This innovative approach aims to address the limitations of existing therapies. It features the growing market for specialized cancer care in dogs, driven by increasing prevalence and the need for cutting-edge treatments.

The feline segment is expected to grow at the fastest CAGR over the forecast period, due to the increasing incidence of cancer in cats, advancements in diagnostic and treatment technologies, and growing awareness among pet owners about feline cancer care. Enhanced veterinary services and specialized treatment options for cats also contribute to this anticipated growth.

Cancer Type Insights

Based on cancer type, the skin cancer segment led the market with the largest revenue share of 39.18% in 2023. According to the article published by Merck Animal Health in October 2023, Mast cell tumor is one of the widely seen types of cancer in canines, including 20% of skin cancer cases, and melanoma results in approximately 7% of all malignant cancers in canines. For the management of skin malignancy Merck Animal Health introduced gilvetmab, a caninized monoclonal antibody for treating mast cell cancers and melanoma in dogs, to U.S. veterinary oncologists. This novel checkpoint inhibitor, targeting PD-1, showed significant efficacy in initial trials, with tumor shrinkage or stable disease observed in 73% of canines with mast cell tumors and 60% with melanoma. This development emphasizes Merck's commitment to advancing veterinary oncology treatments.

The others segment is expected to grow at the fastest CAGR of 12.22% over the forecast period. This segment includes adenocarcinomas (e.g. anal sac adenocarcinoma), mammary cancers, brain tumors, nasal tumors, and oral tumors. Growing advancement in canine cancer treatment for a wide range of cancer types is expected to boost segment growth over a forecast period. For instance, in May 2024, the UC Davis veterinary hospital successfully treated Hunter, a cocker spaniel diagnosed with apocrine gland anal sac adenocarcinoma (AGASACA), a rare cancer in dogs. With advanced oncology services, UC Davis offers specialized care through a collaborative team of experts. This case highlights the growing importance of specialized veterinary oncology services in the U.S., indicating the market's emphasis on advanced cancer treatments for pets.

Therapy Insights

Based on therapy, the surgery segment led the market with the largest revenue share of 36.53% in 2023, due to its effectiveness in removing tumors and managing localized cancer. Advances in surgical techniques and technologies, coupled with high success rates and improved outcomes, have driven the increasing preference for surgical interventions in veterinary oncology. Furthermore, innovations such as minimally invasive procedures and improved imaging technologies enhance the precision and success rates of surgical treatments.

The immunotherapy segment is estimated to grow at the fastest CAGR over the forecast period. Increasing in funding by government organizations to accelerate canine cancer immunotherapy clinical trials is expected to increase availability of effective cancer immunotherapy for animals. In addition, according to the article published on March 2022 by chief medical officer at ELIAS Animal Health, veterinary cancer immunotherapy market is also expanding as novel treatments like Vaccine Primed Adoptive T Cell Therapy (VACT) show promising results in canine cancers such as osteosarcoma. Combining VACT with traditional treatments and other immunotherapies aims to enhance efficacy and response rates, driving demand for advanced cancer therapies in veterinary medicine.

Key U.S. Veterinary Oncology Company Insights

Major players in the market are actively engaged in competitive and moderately fragmented market dynamics. These companies emphasize R&D along with introducing new products to enhance their market presence. Furthermore, they are frequently collaborating with veterinary clinics, research institutions, and academic organizations to boost R&D efforts and expand the availability of innovative and effective cancer therapies for animals. They are also expanding globally to tap into emerging markets and influence the increasing awareness of veterinary cancer care.

Recent Developments

• In January 2024, ELIAS Animal Health announced that its ECI therapy for treating canine osteosarcoma has shown reasonable efficacy according to USDA trials, paving the way for its licensure and expected commercial launch in late 2024. This adoptive cell therapy trains the immune system to target cancer cells, offering a promising new approach to canine cancer treatment

• In April 2023, Torigen Pharmaceuticals entered into a partnership with Veterinary Management Groups (VMG) to provide over 2,000 VMG member clinics with access to Torigen's experimental autologous cancer immunotherapies. This collaboration aims to enhance the availability of advanced cancer treatments for companion animals by integrating Torigen's innovative solutions with VMG's extensive network, thus expanding treatment options for pet owners across the U.S. 

U.S. Veterinary Oncology Market Report Scope

U.S. Veterinary Oncology Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the U.S. veterinary oncology market report based on animal, therapy and cancer type:

• Animal Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Canine

  • Feline

  • Equine

• Therapy Outlook (Revenue, USD Million, 2018 - 2030)

  • Radiotherapy

    • Stereotactic Radiation Therapy

      • LINAC

      • Other Types

    • Conventional Radiation Therapy

  • Surgery

  • Chemotherapy

  • Immunotherapy

  • Other Therapies

• Cancer Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Skin Cancers

  • Lymphomas

  • Sarcomas

  • Others