Veterinary Oncology Market Poised to Exceed $3.56 Bn By 2032

The global veterinary oncology market size was estimated at around USD 1.22 billion in 2022 and it is projected to hit around USD 3.56 billion by 2032, growing at a CAGR of 11.31% from 2023 to 2032.

Key Pointers

• North America led with a share of more than 46% in 2022.
• Asia Pacific market is expected to grow over the forecast period.
• By Animal type, the canine segment dominated the market with a revenue share of over 87% in 2022.
• By Therapy, the surgery segment led the market with a revenue share of over 37% in 2022.
• By Therapy, the immunotherapy segment is anticipated to witness the fastest CAGR over the forecast period.
• By Cancer Type, the skin cancers segment dominated the market with a revenue share of 40% in 2023.
• By Cancer Type, the other segment is estimated to grow at the fastest CAGR of 11.99% from 2023 to 2032

The veterinary oncology market stands at the intersection of cutting-edge medical advancements and the compassionate care extended to our beloved animal companions. As an integral segment within the broader veterinary healthcare landscape, it addresses the diagnosis, treatment, and management of cancer in animals, ranging from household pets to livestock.

Market Growth

The growth of the veterinary oncology  market is underpinned by several key factors. Firstly, the heightened awareness among pet owners regarding the prevalence of cancer in animals has significantly increased the demand for specialized oncological services. As animals are increasingly considered integral family members, there is a growing willingness to invest in advanced healthcare options. Technological advancements in diagnostic tools have played a pivotal role, allowing for early and accurate detection of cancer in animals, thereby influencing treatment decisions. The collaboration between pharmaceutical companies, veterinary clinics, and research institutions has fostered the development of innovative treatment modalities, enhancing the efficacy and range of available therapies. Additionally, the global expansion of veterinary oncology services, coupled with the rise in disposable incomes in emerging economies, contributes to the overall market growth. These collective factors create a favorable landscape for the Veterinary Oncology Market, positioning it as a vital and continually expanding component of veterinary healthcare.

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Report Scope of the Veterinary Oncology Market

Market Dynamics

Drivers

Increased Awareness and Humanization of Pets:

• Growing recognition of pets as integral family members drives a heightened awareness of their health, including the prevalence of cancer.
• Pet owners’ emotional attachment fosters a willingness to invest in advanced oncological services.

Advancements in Diagnostic Technologies:

• Ongoing technological innovations in diagnostic tools, including imaging techniques and molecular diagnostics, enable precise and early detection of cancer in animals.
• Improved diagnostic capabilities empower veterinarians to make informed treatment decisions, contributing to better patient outcomes.

Opportunities

Advancements in Personalized Medicine:

• The exploration and development of personalized medicine approaches tailored to individual animal patients offer an opportunity to enhance treatment efficacy while minimizing side effects.

Telemedicine and Remote Consultations:

• The integration of telemedicine enables remote consultations, expanding access to veterinary oncology expertise and facilitating follow-up care, particularly in regions with limited physical access to specialized services.

Animal type Insights

The canine segment dominated the market with a revenue share of over 87% in 2022. The rising pet dog population, prevalence of cancer, and awareness of treatment options contributed to the significant share of the canine segment in 2022. Rising incidence of canine cancer, investment in veterinary oncology research & development, and growing veterinary healthcare costs are expected to drive market growth. The demand for efficient and cutting-edge therapies for cancer is expected to grow along with the prevalence of canine cancer cases, fueling segment growth. For instance, as per the study published in February 2022 by Aging and Cancer, it is predicted that one out of every four dogs will be diagnosed with tumors in their lifetime. Cancer is the main cause of mortality for dogs older than middle age. Therefore, the need for treatments will continue to increase due to the growing incidence of cancer in dogs, driving sector growth.

The feline segment is anticipated to grow at a lucrative rate in coming years. According to the American Veterinary Medical Association (AVMA), the pet cat population in 2022 was 58.3 million in the U.S., which is expected to increase over the coming years. Between 2016 and 2020, cat ownership increased (from 25% to 26%), and then again in 2022 (to 29%). In addition, according to the Canadian Animal Health Institute (CAHI), 58% of Canadian households owned at least one cat or dog in 2022. Cats’ population increased from 8.1 million in 2020 to 8.5 million in 2022. CAHI also revealed that percentage of pets receiving medical care increased significantly in 2022. In addition, cat-related visits to vets increased dramatically in the months following the COVID-19 outbreak. According to the World Small Animal Veterinary Association (WSAVA), one in five cats is susceptible to acquiring cancer throughout its lifespan. According to estimates, market growth is driven by increasing numbers of pet cats, higher cancer rates, and more frequent veterinary visits.

Therapy Insights

Based on therapy, the surgery segment led the market with a revenue share of over 37% in 2022. Surgery is often most effective for tumors that can be completely removed without threatening crucial structures that have not yet spread to other parts of the body. In the case of cancer, it is often the first step. If the tumor is low-grade and there are no signs of local or distant metastasis, cancer surgery could help in achieving remission. Successful surgery negates the need for additional therapy. Growing instances of surgeries performed on pets for their treatment and technological advancements in these procedures contribute to the market growth. In addition, a growing number of research projects, including surgeries on pet populations, are being conducted, which is further boosting the market’s expansion.

The immunotherapy segment is anticipated to witness the fastest CAGR over the forecast period. Immunotherapy is most promising recent developments in tumor treatment, strengthening the body’s immune response against cancer. Several nonprofit organizations dedicated to animal health research are sponsoring studies to bring new treatment options to the market. For instance, the University of Minnesota received funding from the Morris Animal Foundation in January 2023 to study & develop novel immunotherapeutics for big-breed dogs suffering from osteosarcoma. Osteosarcoma is a fatal bone cancer. Thus, companies working on immunotherapeutic R&D for veterinary cancer also contribute to the market’s expansion.

Cancer type Insights

Based on cancer, the skin cancers segment dominated the market with a revenue share of 40% in 2023. This segment includes mast cell tumors, squamous cell carcinoma, and melanoma. Squamous cell carcinoma affects both cats & dogs, and skin tumors are the most typical form of mast cell cancer in older dogs. In 2018, 21% of all canine skin tumors were mast cell tumors, according to Veterinary Information Network, Inc. Mast cell tumors fall into lower grades from I to III. This malignant tumor affects the squamous epithelium of the skin, oral cavity, and digits. In cats, around 25% of all genital tumors are squamous cell carcinomas of the toe(s), and surgery is the most advised treatment. In addition, mammary tumors are very common in cats, especially between the ages of 10 and 14. Breeds with a particular propensity for the tumor, such as Siamese cats, are more likely to experience it at an early age.

The other segment is estimated to grow at the fastest CAGR of 11.99% from 2023 to 2032. Growing incidence of adenocarcinoma is expected to drive segment growth during the forecast period. According to data published by Veterinary Practice in September 2022, dogs with anal sac adenocarcinomas account for 17% of all perianal cancers. As they are slowly growing tumors, the prognosis is typically favorable.

The proven oncology treatment for lymphoma is chemotherapy, which also varies depending on the type of cancer. According to the American Kennel Club, dogs’ most common types of lymphoma 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. Increasing mast cell cancer in dogs is expected to drive the market.

Regional Insights

North America dominated with a share of more than 46% in 2022. The segment is projected to dominate the market over the forecast period. Key growth contributors are increasing focus on pet health, presence of many pet drug manufacturing companies, and speedy adoption of innovative pet care medications. In addition, the increasing number of government funding for pet oncology treatment in this region, pet insurance adoption, and the presence of market giants in the oncology market are also driving the market.

Moreover, according to the National Cancer Institute, in 2022, 32 million cats and 65 million dogs live in the U.S. According to preliminary estimates of cancer incidence, roughly 6 million dogs are diagnosed with cancer annually, and a comparable number is reported in cats. Similarly, according to the American Veterinary Medical Association, in 2022, one in four dogs was estimated to develop cancer at some stage. Noticeably, lymphoma was recorded to be higher in cats than in dogs. Therefore, increasing cancer incidence in pet animals is expected to fuel market growth in North America.

Asia Pacific market is expected to grow over the forecast period owing to increasing awareness about various pet treatment methods among veterinarians, improving veterinary healthcare infrastructure, and rising animal healthcare expenditure.

Key Companies

• PetCure Oncology
• Zoetis
• Karyopharm Therapeutics, Inc.
• Varian Medical Systems
• Accuray Incorporated
• Boehringer Ingelheim GmbH
• Elanco
• One Health
• Regeneus Ltd.

Veterinary Oncology Market Segmentations:

By Animal type

• Canine
• Feline
• Equine

By Therapy

• Radiotherapy
• Surgery
• Chemotherapy
• Immunotherapy
• Other Therapies

By Cancer Type

• Skin Cancers
• Lymphomas
• Sarcomas
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa