Veterinary Oncology Market Size, Share & Trends Analysis Report By Therapy (Radiology, Chemotherapy), By Animal type, By Cancer type (Lymphoma, Mast cells, Mammary and Squamous cell), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global veterinary oncology market size was estimated at USD 231.4 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 12.10% from 2023 to 2030. The increasing pervasiveness of cancer in the pet population coupled with the rising adoption of veterinary cancer therapy as a treatment method is primarily propelling market growth. Growing expenditure on animal healthcare in developed economies due to rising willingness to spend on pet healthcare by owners and initiatives by the government for veterinary cancer treatment are major factors driving the market. In addition, in October 2019, the American Veterinary Medical Association (AVMA) anticipated that approximately 1 in 4 dogs will develop neoplasia at some stage of their lives.

American Animal Hospital Association (AAHA) stated that neoplastic disease was the most common terminal pathological procedure in 73 out of 82 canines and also the reason for death in canines within 1 year of age. The disease often leads to traumatic injury. Feline Leukemia Virus (FeLV) is a commonly found infectious disease in cats and the feline population detected with FeLV was also reported to be one of the foremost causes of lymphoma in feline. Therefore, with the rising number of these cancer incidents, there is a necessity for effective veterinary oncology treatment in these animals. COVID-19 is likely to change the relationship of humans with companion animals. 

A majority of pet owners got closer to their pets amid the nationwide lockdowns aimed at curbing disease transmission. As life returns to normal, pet owners are expected to integrate their pets into their daily practices, even more, prioritizing pet-friendly vacations and workplaces. 75% of pet owners surveyed by the American Pet Product Association stated that spending time with their animals helped decrease stress and improve wellbeing amid the pandemic. At animal shelters, adoption rates soared as much as 40% in 2020 over the earlier year in the U.S. The growing pet humanization trend is expected to support market growth.

The increasing number of veterinary clinical studies for evaluating safety and efficacy of different oncologic treatments in pets is further boosting market growth. AVMA created a database called AVMA Animal Health Studies Database (AAHSD) as a tool for investigators performing prospective veterinary clinical studies. Such studies by researchers focused on veterinary oncology treatment are anticipated to fuel market growth over the forecast period. 

Supportive government initiatives pertinent to veterinary cancer treatment are also driving the market. For instance, in July 2019, the National Cancer Institute (NCI) supported clinical trial testing for veterinary oncology treatments in animals. The aim of the trials offered by veterinary medical schools worldwide was to find new cancer treatments that will preserve the dog’s quality of life. The trial was also conducted to provide an insight into how the veterinary oncology treatments and approaches being examined in dogs may be translated to help people with cancer, as humans and dogs share similar biology for cancer. 

Moreover, spiraling collaborations for R&D of targeted therapies for cancer in companion animals is another contributing factor for market growth. For instance, in 2016, Zenoaq company, in collaboration with Nexvet Biopharma, developed Monoclonal Antibodies (MAbs) that attach and inhibit the immuno-oncology targeted programmed cell death protein 1 (PD-1). Such activities represent a promising yet challenging perspective and are also expected to bring a new paradigm in cancer therapy for pets. 

Therapy Insights

The chemotherapy segment held the largest revenue share of 25.0% in 2022 owing to the increasing number of chemotherapeutic procedures adopted by surgeons due to their several advantages. According to the oncology guidelines by AAHA, chemotherapy is a commonly used veterinary oncology treatment modality in veterinary cancer medicine. Moreover, other chemotherapy methods such as conventional, metronomic, and targeted chemotherapy including Tyrosine Kinase Inhibitors (TKIs) are adopted by small animal practitioners. Therefore, the rising adoption of chemotherapy as a treatment modality for cancer in pets is expected to fuel the veterinary oncology market growth. 

Chemotherapy is followed by radiology treatment due to increasing research studies to test the safety and efficacy of Stereotactic Radiosurgery Treatment (SRT) in animals. SRT helps control the tumor to an extent and ultimately reduces its toxicity. According to the Journal of Hematology and Oncology in 2018, Proton Beam Radiation Therapy (PBRT) aims to deliver the radiation dose on a tumor cell and deliberately to the surrounding tissue and organs with very little or no irradiation effect in pets. The rising adoption of target-specific therapies will boost market growth over the forecast period. 

Animal type Insights

The canine segment dominated the market for veterinary oncology and accounted for the largest revenue share in 2022 owing to the high prevalence of cancer in the canine population and increasing life expectancy. Moreover, the increasing prevalence of cancer in this population has further engaged researchers to carry out comparative veterinary oncology treatment with a large number of clinical trials on canine as a biological model. According to a PubMed report in 2016, more than 1 million pet dogs are diagnosed with various types of cancers in the U.S. every year. 

Furthermore, favorable initiatives by the government are also contributing significantly to market growth. For instance, the Comparative Oncology Trials Consortium (COTC), under the NIH-NCI-Center for Cancer Research's Comparative Oncology Program is dedicated to designing and executing clinical studies in canines with cancer to gauge novel oncology therapies. This program focuses on carrying out clinical trials for pets with cancer, thus boosting market growth. In addition, these trials are also expected to provide potential alternatives for oncology treatment with novel therapies in development. 

Cancer type Insights

The lymphoma cancer type segment dominated the market for veterinary oncology and accounted for the largest revenue share of 39.0% in 2022, owing to the increasing number of the pet population, especially canine, being affected by the disease. According to PubMed report, an estimated incidence rate of 20-100 cases per 100,000 dogs are contracted by this disease.

Furthermore, the proven oncology treatment for lymphoma is chemotherapy, which also varies depending on the type of cancer. According to American Kennel Club, the most common types of lymphoma in dogs are mediastinal lymphoma, multicentric lymphoma, alimentary lymphoma, and extranodal lymphoma, which vary in survival rates, aggressiveness, and clinical signs. The organization also states that 80 to 85 % of lymphomas in dogs were found to be multicentric. Lymphoma is followed by mast cell cancer along with mammary and squamous cell cancer. Mammary and Squamous cell cancer is projected to grow at fastest rate of over 12.0% over the forecast period. The rising incidence of mast cell cancer in dogs is further expected to drive the market. 

Regional Insights

North America dominated the market for veterinary oncology and accounted for the largest revenue share of 45.0% in 2022. The segment is projected to dominate the market over the forecast period. Major factors attributed to the market growth are increasing focus on pet health, the presence of a large number of pet drug manufacturing companies, and speedy adoption of innovative pet care medications. In addition, the increasing number of funding for pet oncology treatment in this region by the government and the presence of market giants in the oncology market is also driving the market. 

For instance, the National Cancer Institute invested USD 11.5 million in grants to six veterinary schools in 2017. The funding was provided to examine immunotherapy treatments for four different cancer types in the dog population. Therefore, funding for evaluating veterinary oncology treatment is projected to surge pet oncology research and will thereby propel market growth. Furthermore, in Europe, the market for veterinary oncology is anticipated to be the second-largest in terms of revenue due to the presence of regulatory authorities focused on scientific progress in veterinary and comparative oncology. These authorities collaborate with big market players to focus on developing unparalleled therapeutic solutions for pet oncology. In Asia Pacific, the market is expected to grow over the forecast period owing to increasing awareness about various treatment methods for pets among veterinarians, improving veterinary healthcare infrastructure, and rising animal healthcare expenditure. 

Key Companies & Market Share Insights 

The market for veterinary oncology is witnessing immense competition as various large pharma and medical devices companies are offering oncology products for veterinary use. Market players are focusing on implementing new strategies such as regional expansion, mergers, acquisitions, new product introduction, partnerships, and distribution agreements to increase their revenue share and mark their presence. Elanco acquired Aratana Therapeutics in April 2019, after which, the company declared the formation of a commercial team devoted to the veterinary specialty business. 

Furthermore, another contribution by the market player in August of same year was the initiation of Phase 2 clinical trial by PharmAust in Australia with its leading veterinary drug candidate, monepantel, to treat canine cancer. PharmAust patented and reformulated monepantel as a repurposed anti-cancer drug for veterinary cancer and plans to have an agreement with Elanco for this veterinary cancer application. Therefore, the reformulation of these types of drugs for veterinary oncology treatment will help accelerate the company’s development and also fuel market growth. Some of the prominent players in the veterinary oncology market include:

• Boehringer Ingelheim International GmbH

• Elanco

• Zoetis

• PetCure Oncology

• Accuray Incorporated

• Varian Medical Systems, Inc.

• Nippon Zenyaku Kogyo Co. Ltd. (ZENOAQ)

• Morphogenesis

• Karyopharm

• Regeneus Ltd.

• OHC (One Health Company)

Veterinary Oncology Market Report Scope 

Segments Covered in the Report

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 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global veterinary oncology market report based on therapy, animal type, cancer type, and region:

• Therapy Outlook (Revenue, USD Million, 2016 - 2030)

  • Surgery

  • Radiotherapy

  • Chemotherapy

  • Immunotherapy

  • Others

• Animal type Outlook (Revenue, USD Million, 2016 - 2030)

  • Canine

  • Feline

• Cancer Type Outlook (Revenue, USD Million, 2016 - 2030)

  • Lymphoma

  • Mast Cell Cancer

  • Mammary and Squamous Cell Cancer

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa