U.S. Veterinary Oncology Market Worth $143.22 Million By 2030

U.S. Veterinary Oncology Market Growth & Trends

The U.S. veterinary oncology market size is expected to reach USD 143.22 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.0% from 2023 to 2030. The increasing prevalence of cancer in pets, willingness to spend on them by pet owners, and use of canines as a model for clinical trials by researchers are the key contributing factor toward the market growth. In addition, a rise in the incidence of cancer in the feline population and rising pet ownership resulting in the increased focus on pet health is further expected to spur the growth. Moreover, companies are increasingly adopting strategies, such as M&As, research agreements, collaboration, partnerships, geographic expansion, and product development to enhance their market position.

For instance, in November 2020, Virbac publicized the approval of Stelfonta, a novel intratumoral injection treatment for canine mast cell tumors. In addition, Elanco purchased Aratana Therapeutics for its pet products pipeline. The company also had an agreement to create rabacfosadine (Tanovea), a drug from VetDC. In addition, in July 2021, Elanco proclaimed that the FDA granted full approval of Tanovea for the lymphoma treatment in dogs. Hence, the market is expected to witness intense competition over the forecast period. The growing prevalence of cancer in companion animals is expected to propel the need for effective treatment options.

In canines, appendicular osteosarcoma is an extremely aggressive illness and curative-intent treatment comprises surgical resection of the tumor followed by chemotherapy to diminish the risk of tumor cells spreading to other areas, particularly the lungs. The golden retriever breed has been reported to have a high cancer prevalence compared to others. Golden Retriever is one of the favorite breeds in the U.S. and increasing concerns regarding the wellbeing of pets are contributing to the market growth. Clinical trials are a critical aspect of veterinary oncology. The accelerated number of clinical research involving surgical procedures in pets is further fueling the market growth.

For instance, in May 2019, Oregon State University conducted a research study stating that the risk of cancer recurrence reduced to 60% in dogs whose tumors were completely resected. With the growing number of pet parents in the U.S., animal health awareness is rising among people. In the U.S., various pet health awareness events are conducted to spread awareness, such as National Pet Week. The risk of animals spreading COVID-19 to individuals is considered to be little. The FDA is alert that the COVID-19 pandemic may influence the ongoing studies being conducted to provision new animal drug development. Thereby, guidelines were issued in April 2020 to help diminish the potential impact of the pandemic on new animal drug development.

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U.S. Veterinary Oncology Market Report Highlights

• The radiology segment is expected to dominate the market. Factors, such as increasing government initiatives for the establishment of new veterinary radiation centers and advancements in radiation technology, are expected to boost the segment growth

• The immunotherapy segment is estimated to register the fastest CAGR from 2023 to 2030 owing to the growing number of veterinary centers focused on carrying out clinical trials in immunotherapy areas

• Chemotherapy is estimated to be the second-largest therapy segment by 2030. According to the Cancer Veterinary Center, the most common canine & feline tumors treated with chemotherapy are osteosarcomas, lymphomas, hemangiosarcoma, mast cell tumors, bladder tumors, mammary gland tumors, etc.

• The canine segment accounted for the largest revenue share in 2022. The high incidence of cancer in canines and ongoing product innovations in this domain contributed to the segment growth

• Market players are undertaking various competitive strategies to gain an edge over others. For instance, in May 2020, PetCure Oncology and Sugar Land Veterinary Specialists publicized a novel radiation oncology service, expanding their network in Houston

U.S. Veterinary Oncology Market Segmentation

Grand View Research has segmented the U.S. veterinary oncology market on the basis of therapy and animal type:

U.S. Veterinary Oncology Therapy Outlook (Revenue, USD Million, 2018 - 2030)

• Surgery

• Radiology

  • Stereotactic Radiation Therapy

    • Gamma Knife

    • LINAC

    • PBRT

    • CyberKnife

  • Brachytherapy

  • Others

• Chemotherapy

• Immunotherapy

• Others

U.S. Veterinary Oncology Animal Type Outlook (Revenue, USD Million, 2018 - 2030)

• Canine

  • Lymphoma

  • Mast Cell Cancer

  • Mammary & Squamous Cell Cancer

  • Others

• Feline

  • Mammary & Squamous Cell Cancer

  • Others

• Others

List of Key Players of U.S. Veterinary Oncology Market

• Boehringer Ingelheim International GmbH

• Elanco

• Zoetis

• PetCure Oncology

• Accuray Inc.

• Varian Medical System, Inc.

• Morphogenesis, Inc.

• Karyopharm Therapeutics, Inc.

• Regeneus Ltd.

• One Health