Veterinary Oncology Market Size, Share & Trends Analysis Report By Therapy (Surgery, Radiology, Chemotherapy, Immunotherapy, Targeted Therapy, Others), By Animal Type (Canine, Feline, Others), By Cancer Type (Lymphoma, Mast Cell Cancer, Mammary and Squamous Cell Cancer, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global veterinary oncology market size was valued at USD 1.10 billion in 2023. It is estimated to reach USD 2.72 billion by 2032, growing at a CAGR of 10.6% during the forecast period (2024–2032). Like humans, there is a surging prevalence of cancer in pets worldwide, which is a primary driver for the global veterinary oncology market. In addition, people nowadays are more concerned about pets than ever before. In light of this, several government and non-government organizations are creating awareness about animal health and well-being, ultimately boosting the market expansion. 

Highlights

• Chemotherapy dominates the therapy segment
• Canine dominated the animal type segment
• Lymphoma dominated the cancer-type segment
• North America is the largest shareholder in the market

Market Overview

Veterinary oncology is a specialist branch of veterinary medicine that specifically deals with detecting, treating, and preventing cancer in animals. Oncology encompasses examining and controlling cancer in several species, encompassing canines, felines, equines, and other domesticated animals. Veterinary oncologists possess special expertise in comprehending the distinctive characteristics of cancer in animals, encompassing its origins, advancement, and available therapeutic alternatives. 
Veterinary oncologists employ various diagnostic technologies, including X-rays, ultrasounds, CT scans, and laboratory investigations, to detect and classify cancer in animals. Veterinary oncology seeks to deliver the best possible treatment and enhance the well-being of animals diagnosed with cancer. This is achieved by utilizing many approaches, including surgery, radiation, chemotherapy, immunotherapy, and targeted therapy.

Market Dynamics

Global Veterinary Oncology Market Drivers

Rising Prevalence of Cancer in Pet

The increasing incidence of cancer in pets and the expanding utilization of veterinary cancer therapy are significant factors driving the growth of the veterinary oncology market. For instance, in 2022, cancer was the primary cause of mortality in cats and dogs, as reported by the National Center for Biotechnology Information. 

Moreover, as stated in the article titled "Lifetime Prevalence of Malignant and Benign Tumors in Companion Dogs: Cross-sectional Analysis of Dog Aging Project Baseline Survey," which was published in May 2022, the occurrence rate of malignant tumors throughout a dog's lifetime was found to be higher in larger dog breeds when compared to toy and small breeds. The age-adjusted prevalence rates for medium, standard, large, and giant canines were 1.65%, 2.92%, 3.67%, and 2.99%, respectively. Hence, given the increasing prevalence of these cancer cases, there is a need for efficient veterinary oncology treatment.

Increasing Animal Health Awareness

The awareness that animal welfare is a matter of public policy has emerged due to increased global awareness, societal perspectives, and adverse publicity. Consequently, there is a need to address this issue to improve the well-being of animals effectively. This will subsequently enhance human welfare and bolster production. Moreover, numerous governmental organizations across the globe are implementing various initiatives to enhance awareness regarding animal health. 

For instance, in October 2021, the Animal Cancer Foundation and Nationwide Pet Insurance jointly initiated the 2021 Nationwide Pet Cancer Awareness Walk from October 15, 2021, to November 30, 2021. Nationwide pet insurance would contribute a donation of 50 cents for each person walking to the Animal Cancer Foundation, with a maximum limit of USD 60,000, to support crucial cancer research efforts. This increases the need for veterinary oncology services, as cancer is a highly dangerous illness in animals.

Global Veterinary Oncology Market Restraint

Side Effects Associated with Cancer Therapy

While the current cancer therapy solutions are highly effective, the anticipated adverse effects on animals will likely provide a significant obstacle in the market. These adverse events may occasionally be attributed to errors in the prescribed quantity of the medication. The typical adverse effects of cancer therapy products include decreased blood pressure and heart rate, delayed respiration, drowsiness, tremors, vertigo, anxiety, and seizures.

The study "Metronomic chemotherapy for palliative treatment of malignant oral tumors in dogs," published in March 2022, found that sterile hemorrhagic cystitis was the most often seen side effect of metronomic chemotherapy, affecting roughly 33.3% of dogs. Therefore, due to the significant negative side effects of cancer treatments in pets, the expansion of the industry will be impeded in the forecast period.

Global Veterinary Oncology Market Opportunities

Rising Research and Development 

An important opportunity in the veterinary oncology market is the growing investment in research and development in veterinary oncology and the introduction of new technologies and advancements. For instance, in July 2023, Ardent Animal Health partnered with FidoCure to enhance the availability of advanced cancer treatment in veterinary care. This collaboration utilizes FidoCure's genetic testing and precision medicine platform. 

Moreover, numerous clinical trials are underway to assess the safety and effectiveness of various cancer treatments in pets, which are anticipated to drive market expansion. In July 2023, the University of Queensland is seeking companion dogs diagnosed with cancer to participate in a study testing an innovative vaccination conducted by veterinary researchers. The clinical research experiment targets dogs recently diagnosed with canine appendicular osteosarcoma, a prevalent bone neoplasm that annually impacts approximately 10,000 dogs worldwide.

Regional Analysis

Based on region, the global veterinary oncology market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America Dominates the Global Market

North America is the most significant global veterinary oncology market shareholder and is expected to expand substantially during the forecast period. The North American market for veterinary oncology is the largest and most influential due to several factors. These include the high prevalence of cancer in pets, the widespread use of pet and pet health insurance, the significant investment in animal healthcare, well-developed veterinary infrastructure and facilities, and the accessibility of advanced and innovative veterinary oncology products and services. According to the American Pet Products Association's (APPA) 2021–2022 National Pet Owners Survey, 90.5 million American households—or 70% of all households—own pets. This is an increase from 56% of homes in 1988. Similarly, in the 2019–20 timeframe, approximately 69 million households in the United States had a dog as a companion, while 45.3 million families were proud owners of a cat friend. 

Furthermore, there has been an increase in the efforts to spread information regarding the occurrence and frequency of cancer in dogs. For instance, in 2022, Jaguar Health introduced Canine Cancer: Take C.H.A.R.G.E. (Canine Health And ReGistry Exchange), a unique national registry for canine cancer and the Canine Cancer Care Index, which aims to offer crucial data on the frequency and occurrence of canine cancer. The goal is to assist veterinarians and dog owners in making informed decisions regarding the diagnosis and treatment of canine cancer. Moreover, the ongoing efforts of key market players to develop and introduce new products for companion animals are fueling the market growth in this region. For instance, in October 2021, the Morris Animal Foundation, a non-profit organization dedicated to promoting animal health, granted almost USD 41,777 in collaboration with Blue Buffalo and Pet Valu Canada. The grant aims to improve cat cancer treatment, specifically targeting intestinal lymphoma. This award is exclusively available to Canadian residents who are researchers. Therefore, the factors above are anticipated to enhance market expansion in the region.

The European veterinary oncology market is projected to rise due to increased spending on pet healthcare, a rising rate of pet adoption, and an increase in cancer cases among pets in the region. As indicated in the December 2021 study paper "Risks and treatments associated with cancer," it is commonly reported that between 25% to 33% of dogs are susceptible to developing cancer. However, the prevalence of cancer in cats is approximately 20%. Hence, the rising prevalence of cancer among pets is a key factor propelling the market's growth throughout the forecast period. The major companies are working to develop innovative cancer treatments for pets, stimulating market expansion. 

For instance, in June 2022, Boehringer Ingelheim, a prominent German company in the field of animal health, and CarthroniX, a biopharmaceutical company focused on developing small molecule-based treatments for degenerative and aging-related diseases, joined forces to research small molecule therapeutics for canine oncology. Moreover, the increasing investment and backing from governmental and private entities for the well-being and protection of animals is also propelling the market's growth. In 2020, the European Commission initiated the EU Platform on Animal Welfare. This platform facilitates discussions and collaboration among various parties regarding animal welfare matters. It also aims to assist in the execution and enforcement of European Union regulations about animal care.

Segmental Analysis

The global veterinary oncology market is segmented by therapy, animal type, and cancer type.

Based on therapy, the global veterinary oncology market is bifurcated into surgery, radiology, chemotherapy, immunotherapy, targeted therapy, and others. 

The chemotherapy segment owns the largest market share. Chemotherapy refers to administering drugs to eradicate cancer cells or inhibit their proliferation. This treatment can be delivered through oral, intravenous, or intratumoral routes. The chemotherapy segment's dominance can be attributable to surgeons rapidly implementing chemotherapeutic methods driven by their advantages. Chemotherapy is a commonly employed diagnostic method in veterinary cancer, following the oncology guidelines established by the AAHA in 2016. The segment is driven by the increasing adoption of various chemotherapy treatments, including conventional, metronomic, and targeted chemotherapy such as Tyrosine Kinase Inhibitors (TKIs).

Based on animal type, the global veterinary oncology market is segmented into canine, feline, and others. 

The canine segment dominates the global market. The canine market is the largest and most rapidly expanding segment due to dogs' higher susceptibility to cancer than other animals. Dogs are particularly prone to numerous types of cancer, including lymphoma, mast cell tumors, osteosarcoma, hemangiosarcoma, and melanoma. The rising number of clinical trials utilizing canines as a biological model and the increasing frequency of cancer is expected to enhance the expansion of this segment. According to the 2016 PubMed report, more than one million pet dogs in the United States are diagnosed with various forms of cancer annually. 

Moreover, there has been an increase in advancement and innovation in the identification and therapy of cancer in canines. For instance, in May 2021, PetDx introduced OncoK9™, a cutting-edge multi-cancer early detection (MCED) test that allows doctors to identify cancer in dogs early with a straightforward blood sample. This is expected to enhance the growth of the market.

Based on cancer type, the global veterinary oncology market is divided into lymphoma, mast cell tumor, mammary and squamous cell cancer, and others. 

The lymphoma segment owns the highest market share. Lymphoma is the predominant form of cancer in pets, particularly in dogs and cats, and mostly impacts the lymph nodes, spleen, liver, and bone marrow. According to the PubMed article, the incidence of lymphoma cancer in canines is approximately 20-100 cases per 100,000 canines annually. According to the American Kennel Club, the most prevalent types of lymphoma are mediastinal lymphoma, multicentric lymphoma, feeding lymphoma, and extranodal lymphoma. Moreover, according to the club's report, around 80-85% of lymphomas in dogs are multicentric. Therefore, the rising prevalence of mast cell cancer in dogs necessitates the development of efficient veterinary oncology treatments.

Impact of covid-19

Companion diagnostics testing helps to determine a patient's health status and guide the patient to appropriate treatment, determine potential adverse effects, and predict recovery of patients from umpteen diseases. Researchers also hypothesized that patients and local healthcare settings may benefit from the responses obtained from these diagnostic systems, which can detect virus genetic material and assess whether the treatment given to patients infected with the virus are responding or not, further driving the market growth.

Recent Developments

• February 2023- VolitionRx Limited, a global epigenetics firm, announced that its Nu.Q® Vet Cancer Test can be pre-ordered by veterinarians directly from Heska Corporation at the point of care.
• November 2023- TheraVet, an industry leader in the treatment of osteoarticular disease in pets, announced the initiation of a clinical trial to evaluate the effectiveness of BIOCERA-VET® Osteosarcoma Cementoplasty in combination with Stereotactic Radiotherapy (SRT) for patients diagnosed with osteosarcoma.