Veterinary Oncology Market to Grow with a CAGR of 12.14% through 2030
The growing
awareness among pet owners about cancer detection and treatment options, along
with the expanding availability of advanced diagnostic tools like MRI and PET
scans, is expected to drive the Global Veterinary Oncology Market growth in the
forecast period, 2026-2030
According to
TechSci Research report, “Veterinary Oncology Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2030F”, the
Global Veterinary Oncology Market stood at USD 1.62 Billion in 2024 and is expected to reach USD
3.23 Billion by 2030 with a CAGR of 12.14% during the forecast period. The
Global Veterinary Oncology Market is experiencing notable growth, primarily
fueled by advancements in diagnostic technologies and an increasing focus on
early cancer detection in pets. The growing number of pet owners recognizing
the importance of regular health checkups and cancer screenings has prompted
the veterinary industry to invest in more sophisticated diagnostic tools such
as molecular imaging, biopsy techniques, and liquid biopsies. These innovations
have significantly improved the accuracy of cancer diagnosis, leading to more
timely treatments that can increase survival rates. With an expanding base of
educated pet owners and the growing recognition of pets' health needs, there is
greater willingness to invest in veterinary oncology services.
Several factors
are propelling the market's growth, including the development of new treatment
modalities such as targeted therapies, which are tailored to specific types of
cancer, and the increasing availability of clinical trials for pets. Veterinary
research in oncology is advancing rapidly, with new drugs and treatment methods
emerging to provide better efficacy and fewer side effects. Moreover, the
expansion of pet insurance coverage, particularly for cancer treatments, is
helping mitigate the high costs associated with veterinary oncology care,
making treatments more affordable for pet owners. As these new treatments gain
traction, the demand for specialized veterinary care continues to rise.
The growth of
the Global Veterinary Oncology Market is supported by several opportunities,
including expanding the reach of veterinary oncology services through mobile
clinics and telemedicine. The demand for less invasive, more effective
treatment options is also expected to drive further innovation in the
development of non-surgical therapies such as immunotherapy and personalized
cancer vaccines. As more pet owners seek advanced care, there is potential for
veterinary pharmaceutical companies to partner with research organizations to
develop more affordable and accessible treatment options, driving the market
forward.
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"Global Veterinary Oncology Market”
The Global Veterinary
Oncology Market is segmented into animal type, treatment type, cancer type, regional
distribution, and company.
Based on the Treatment
Type, Radiotherapy emerged as the fastest growing segment in the Global Veterinary
Oncology Market during the forecast period. This is due to its effectiveness in treating a
wide range of cancers in pets, particularly when surgery is not an option. This
treatment method, which uses targeted radiation to shrink or destroy tumors, is
becoming increasingly popular as a non-invasive alternative to traditional
surgery. The demand for radiotherapy has grown as it is often used to treat
cancers that are difficult to access surgically or are inoperable, such as
brain tumors, nasal tumors, and certain types of sarcomas. Advancements in
radiotherapy technologies, such as stereotactic radiation therapy (SRT) and
intensity-modulated radiation therapy (IMRT), have made the treatment more
precise and effective. These techniques allow for higher doses of radiation to
be delivered directly to the tumor while minimizing damage to surrounding
healthy tissue, reducing side effects and improving outcomes. As a result, more
veterinary clinics and animal hospitals are adopting radiotherapy as part of
their oncology treatment offerings.
Based
on the Region, Asia-Pacific emerged as the fastest growing region in the Global
Veterinary Oncology Market during
the forecast period. This is due to several key factors, including the
increasing pet ownership rate, rising disposable incomes, and improving
awareness about veterinary healthcare. As pet ownership becomes more common in
countries like China, Japan, India, and South Korea, there is a growing demand
for specialized veterinary services, including oncology treatments. With a
rising middle class and increasing expenditure on pet healthcare, pet owners in
this region are more willing to invest in advanced cancer treatments for their
pets. The veterinary oncology market in Asia-Pacific is also benefiting from
the expansion of veterinary infrastructure, with more clinics and animal
hospitals offering specialized cancer care. Many countries in the region are
seeing advancements in diagnostic technologies, treatment options, and
veterinary education, which have led to improved outcomes in veterinary
oncology. This progress is driving greater adoption of oncology services,
including chemotherapy, radiotherapy, and immunotherapy.
Moreover,
the growing awareness about pet health and cancer prevention through media,
social platforms, and pet care awareness campaigns is contributing to the
demand for veterinary oncology services. As more pet owners seek cancer
treatments for their animals, Asia-Pacific is rapidly evolving as a key region
for veterinary oncology market growth. The region’s expansion in both urban and
rural areas further drives the market’s rise during the forecast period.
Major
companies operating in Global Veterinary Oncology Market are:
- Elanco
Animal Health Incorporated
- Boehringer
Ingelheim International GmbH
- Zoetis
Inc.
- Elekta
AB
- PetCure
Oncology
- Accuray
Incorporated
- Varian
Medical Systems, Inc.
- Virbac
S.A.
- Merck
& Co., Inc.
- Dechra
Pharmaceuticals PLC
- NovaVive
Inc.
- Ardent
Animal Health, LLC
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“The Global Veterinary Oncology Market is
expanding due to the growing availability and adoption of pet insurance
policies that cover cancer treatments. As more pet owners opt for insurance
plans that include coverage for veterinary oncology, the financial burden of
expensive cancer treatments is alleviated, making them more accessible. This
has led to a rise in the number of pets receiving specialized cancer care, as
owners are now more willing to pursue treatments like chemotherapy, radiation,
and surgery. The increase in pet insurance penetration, particularly in
developed markets, is enabling more pet owners to afford high-quality oncology
services, which in turn is driving the growth of the veterinary oncology
market.,” said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based management consulting firm.
“Veterinary Oncology
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
Segmented By Animal Type (Canine, Feline, Others), By Treatment Type
(Radiotherapy, Surgery, Chemotherapy, Others), By Cancer Type (Skin Cancers,
Lymphomas, Sarcomas, Others), By Region and Competition, 2020-2030F”,
has evaluated the future growth potential of Global Veterinary Oncology Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Veterinary Oncology Market.
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