Allied Market Research
Loading...
0

Veterinary Oncology Market Expected to Reach $0.819 Billion by 2030

 

Report Code : A07139

quote “Alarming rise in prevalence of cancer among animals, advancements in R&D activities for cancer treatment in pet, rise in government & private funds for development of veterinary cancer treatment, and increase in awareness about the illness in animals are expected to notably contribute toward the growth of the global veterinary oncology market during the forecast period.” quote

Onkar Sumant
Manager, Healthcare at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, “Veterinary Oncology Market by Therapy, Animal Type, and Cancer: Global Opportunity Analysis and Industry Forecast, 2021–2030,"the global veterinary oncology market was valued at $0.297 billion in 2020, and is estimated to reach $0.819 billion by 2030, growing at a CAGR of 10.8% from 2021 to 2030.

A veterinary oncology is defined as a subspecialist in veterinary medicine, which deals with the diagnosis and treatment of cancer in animals. Cancer is one of the major causes of death in pet animals, mostly dogs and cats. Animals such as cats and dogs suffer from many different types of cancer such as skin tumor. Veterinary oncologist diagnosis cancer in animals, identifies the staging of tumors, and plans the treatment & administration of chemotherapy. Surgery, chemotherapy, immunotherapy, and radiation are the most common oncology treatments among animals.

The factors that drive the growth of the global veterinary oncology market include rise in the prevalence of cancer in pets, mostly dogs and cats, advancements in R&D activities regarding pet illness, and surge in demand for pet adoption. In addition, rise in concern regarding pet health notably contributes toward the growth of the global market. According to the American Veterinary Medical Association (AVMA), it was observed that approximately 1 in 4 dogs, at some stage in their life (mostly above the age of 10), develop neoplasia. Moreover, in November 2019, the Flint Animal Cancer Center, announced that one in five cats are diagnosed with cancer, in their lifetime. Furthermore, market players are focused on the development of advanced oncology, diagnostic procedure, and treatment in animals. For instance, in 2021, the U.S. Food and Drug Administrative announced the approval of Tanovea (rabacfosadine injection), which is used for the treatment of lymphoma in dogs. Furthermore, increase in incidence of pet adoption enhance the focus on animal safety and health, thereby driving the market growth. According to the American Society for the Prevention of Cruelty to Animals (ASPCA), it was reported that approximately 4.1 million shelter animals are adopted each year.

Moreover, rise in disposable income and improvement in healthcare safety standard for animals are anticipated to drive the growth of the veterinary oncology market. In addition, increase in demand for effective, fast, and accurate treatment result have led to the development of many clinical studies among animals, thereby propelling the growth of the market.

Moreover, initiatives taken by governments for veterinary cancer treatment and increase in number of veterinary clinics are the key factors that boost the growth of the market. Furthermore, development of the animal healthcare sector and surge in awareness about the pet illness propel the growth of the market. In addition, increase in adoption of veterinary cancer therapy and presence of various animal foundation fuel the market growth.

The global veterinary oncology market is segmented into therapy, animal type, cancer, and region. On the basis of therapy, the market is divided into surgery, radiology, chemotherapy, and others. The chemotherapy segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to advancement in R&D activities in animal healthcare sector, increase in number of chemotherapy in animal for treatment of cancer, and surge in adoption of chemotherapies procedures in pets.

Depending on animal type, the market is classified into canine and feline. The canine segment exhibited the highest growth in 2020, and this trend is expected to continue during the forecast period, owing to increase in incidence of cancer in canine animal, rise in R&D activities for oncology treatment in animal, and increase in number of clinical trials on canine for oncology treatment. By cancer, the market is classified into lymphoma, mast cell cancer, mammary & squamous cell cancer, and others. The lymphoma segment acquired the top position in the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in demand for chemotherapy, rise in prevalence of mast cell cancer in dogs, and advancement in R&D activities for lymphoma cancer treatment.

The COVID-19 outbreak is anticipated to have a negative impact on the growth of the global veterinary oncology market. The COVID-19 pandemic has stressed the healthcare systems in the world and increased the need for the development of diagnostic instruments & treatment centers for human. The nonessential business is closed in many states such as university, restaurants, schools, shopping malls, and corporations. Thus, the COVID-19 pandemic is affecting the world, including the pets such as street dogs and cats. A number of clinics and hospitals were restructured to increase the hospital capacity for patients diagnosed with COVID-19. Veterinary oncologists have high risk of contracting and transmitting the coronavirus. The implementation of lockdown due to COVID-19 outbreak resulted in decline in of the number of patient visits for the treatment of animal suffered from cancer during COVID-19. This has significantly contributed toward the growth of the global market.

Key Findings Of The Study

  • By therapy, the chemotherapy segment was the highest contributor to the market in 2020.
  • On the basis of animal type, the canine segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
  • Depending on cancer, the lymphoma segment was the highest contributor to the market in 2020.
  • Region wise, North America garnered the largest revenue share in 2020, however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

North America accounted for a majority of the global veterinary oncology market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to rise in the prevalence of cancer in pet animals, the presence of key players for manufacturing and developing drugs for animals, increase in number of dogs & cats, and initiatives taken by government for pet oncology treatment in the region. Asia-Pacific is anticipated to witness lucrative growth, owing to increase in prevalence of cancer in dogs, rise in the demand for pet adoption, and presence of various veterinary foundations.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Tushar Nagose
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

 
 

First time buyer?
Check offers and discount on this report
To get this report

 
Click Here
 
 

quote Veterinary oncology Market by Therapy (Surgery, Radiology, Chemotherapy, and Others), Animal Type (Canine and Feline), and Cancer (Lymphoma, Mast Cell Cancer, Mammary & Squamous Cell Cancer, and Others): Global Opportunity Analysis and Industry Forecast, 2021––2030 quote

View Report
 
 
Avenue Video Loading...

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 3,916 niche industries and company profiles on more than 12,953 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Jan 2021

Surgical Equipment Market

Download Sample
rep-img

Published Date Nov 2020

Medical Implant Market

Download Sample
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

 
Get Industry Data Alerts
 

Buy Full Version
"Veterinary Oncology Market"
Purchase Enquiry