North America to Hold Lion’s Share in the Veterinary Oncology Market

Fri, 17 July 2020 1:43

The veterinary oncology market is projected to witness considerable growth during the forecast period on account of increasing regulatory approvals for veterinary oncology products. For instance, in 2018, Aratana Therapeutics obtained provisional clearance for its canine osteosarcoma vaccine from the U.S. Department of Agriculture’s Center for Veterinary Biologics.

The manufacturers are focused on undertaking acquisition strategies to expand their product portfolio and gain a competitive edge. For instance, in 2018, Zoetis acquired Abaxis, a firm focused on the growth, manufacturing, and distribution of diagnostic instruments for point-of-care veterinary services. Technological advancements in animal cancer treatment provide an impetus to the market growth. In 2018, AdvaVet, a subsidiary of Oasmia Pharmaceutical AB, developed an innovative technology, XR17, for formulating nanoparticles that make water-soluble to a single API or multiple APIs. This system increases solubility and guarantees safe animal administration of APIs.

Key Highlights

  • The veterinary oncology market was valued at USD 198.9 million in 2019 and is expected to grow with a CAGR of 10.6% during the forecast study period
  • The chemotherapy segment holds the largest market share on account of its rising adoption to treat canine cancer
  • The canine segment held the highest market share in 2019 due to rising dog population and increasing prevalence of canine cancer
  • North America dominates the veterinary oncology market on account of favorable government policies, introduction of new products, and heavy investments in oncology treatment
  • Asia-Pacific is projected to witness lucrative growth in the market on account of growing emphasis on animal welfare and increasing number of animals exposed to cancer

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Key Players

  • PetCure Oncology
  • Accuray Incorporated
  • Varian Medical Systems
  • Boehringer Ingelheim
  • Elanco
  • Zoetis Karyopharm Therapeutics, Inc.
  • One Health
  • VetDC
  • PharmAust
  • Nippon Zenyaku Kogyo Co., Ltd.

Recent Developments

  • In July 2019, Boehringer Ingelheim acquired AMAL Therapeutics, a biotechnology firm focused on cancer immunotherapy, to become an innovator of novel cancer therapies, including immuno-oncology treatments.
  • In July 2019, Elanco Animal Health acquired Aratana Therapeutics to capitalize on new opportunities for Elanco pet therapy brands

Veterinary Oncology Market: Segmentation

By Therapy

  • Surgery
  • Radiology
  • Chemotherapy
  • Immunotherapy

By Animal Type

  • Canine
  • Feline

 By Cancer Type

  • Lymphoma
  • Mast Cell Cancer
  • Mammary and Squamous Cell Cancer
  • Others (Anal Sac Carcinoma)

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Central and South America and the Caribbean
  • The Middle-East and Africa

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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