U.S. Veterinary Oncology Market Size, Share & Trends Analysis Report By Therapy (Surgery, Radiology, Chemotherapy, Immunotherapy), By Animal Type (Canine, Feline), And Segment Forecasts, 2021 - 2028
U.S. Veterinary Oncology Market Growth & Trends
The U.S. veterinary oncology market size is expected to reach USD 143.2 million by 2028. The market is expected to expand at a CAGR of 8.4% from 2021 to 2028. The increasing prevalence of cancer in pets, willingness to spend on them by pet owners, and use of canine as a model for clinical trials by researchers are the key contributing factor towards this segment growth. In addition, an increase in the incidence of cancer in the feline population and rising pet ownership resulting in the increased focus on pet health is further expected to spur the growth.
Moreover, companies operating in the market are increasingly adopting strategies, such as mergers and acquisitions, research agreements, collaboration, partnerships, geographic expansion, and product development to enhance their position in the market.For instance, in November 2020, Virbac publicized the approval of Stelfonta, a novel intratumoral injection treatment for canine mast cell tumors.
In addition, Elanco purchased Aratana Therapeutics for its pet products pipeline.The company also had an agreement to create rabacfosadine (Tanovea), a drug from VetDC.
The drug also had received U.S. FDA approval for treating lymphoma in dogs. Hence, the market is expected to witness intense competition over the forecast period.
Clinical trials are a critical aspect of veterinary oncology.The accelerated number of clinical research involving surgical procedures in pets is further fueling the market growth.
For instance, in May 2019, Oregon State University conducted a research study stating that the risk of cancer recurrence reduced to 60% in dogs whose tumors were completely resected. With the growing number of pet parents in the U.S., animal health awareness is rising amongst people. In the U.S. there are various pet health awareness events such as National Pet Week are conducted to create awareness.
The risk of animals spreading COVID-19 to individuals is considered to be little.The FDA is alert that the COVID-19 pandemic may influence ongoing studies being conducted to provision new animal drug development.
Thereby, issued guidelines in April 2020 to help to diminish the potential impact of the pandemic on new animal drug development.
U.S. Veterinary Oncology Market Report Highlights • The radiology segment is expected to dominate the market. Factors such as increasing government initiatives to the establishment of new veterinary radiation centers and advancements in radiation technology are expected to boost demand for the radiation therapy segment • The immunotherapy segment is expected to witness a CAGR of 8.9% owing to the growing number of veterinary centers focused on carrying out clinical trials in immunotherapy areas • The chemotherapy segment is the second-largest segment of the market. According to Cancer Veterinary Center, the most common canine and feline tumors treated with chemotherapy are osteosarcomas, lymphomas, hemangiosarcoma, mast cell tumors, bladder tumors, and mammary gland tumors • The canine segment emerged as the largest revenue-generating segment of the market in 2020. The rising incidence of cancer in canines and ongoing product innovations in this domain is the key growth contributors
Our reports have been used by over 10K customers, including:
The Veterinary Pain management market was valued at USD 1,197 million in 2020, and it is expected to reach USD 1,910 million in 2026, registering a CAGR of nearly 6.30% during the forecast period. The global outbreak of COVID-19 has impacted all industries including veterinary pain medicine. Pet parents are advised to keep a safe distance...
The veterinary diagnostics are tests, which help in determining and detecting various disorders associated with animals. The diagnostic tests are performed by taking the blood, faeces, and tissue samples, of animals. The increased pet ownerships with improving urban lifestyle and many shifting from towns to urban localities across developed...
Rising demand for pet insurance and growing animal health expenditure are driving market growth The global veterinary imaging market is projected to reach USD 2.2 billion by 2025 from USD 1.6 billion in 2020, at a CAGR of 6.7% during the forecast period. The growth in this market is majorly driven by the increase in animal...
The growing prevalence of several types of cancers in cats and dogs, as well as an increase in R&D initiatives regarding cancer management in animals, is contributing to the growth of the market. According to the Veterinary Cancer Society, cancer was the leading cause of death in 47% of dogs, especially those that are over the age of 10, and...
KEY FINDINGS The North America veterinary imaging market is predicted to grow at a CAGR of 5.25% over the projected period of 2019-2028. The favorable pet insurance policies and growth in the pet health insurance sector are some of the important factors propelling market growth in the region. MARKET INSIGHTS The...
Certain factors that are responsible for the growth of the companion animal healthcare market are increasing pet adoption across the globe, rising government initiatives for the sake of animal health, and growing technological advancements in the animal healthcare.
With the increasing nuclear families...
Best friends: Rising research and development spending for new technologies will stimulate growth Abstract Animal Health Biotechnology The Animal Health Biotechnology industry has experienced steady growth over the five years to 2019. Rising research and development (R&D) expenditure, which grew during...
Global Veterinary X-ray Market Projected to Grow at a CAGR of 6.4% During 2018–2023 The global veterinary X-ray market is projected to reach USD 872 million by 2023 from USD 640 million in 2018, at a CAGR of 6.4% from 2018 to 2023. Rising animal health expenditure and growing demand for pet insurance, increasing number of veterinary practitioners...
In this fifth edition, Pet Medications in the U.S. analyzes the market for prescription and over-the-counter medications for dogs and cats, with a particular focus on brand-name products used by consumers.
These include prescription, over-the-counter (OTC or "retail"), and ethical products (nonprescription medications whose...
GBI Research's latest report, "Human Drugs For Veterinary Use - Current Trends and Future Commercial Prospects for Crossover Drugs", discusses global commercial trends and prospects for human medicines applied in the veterinary setting, also called crossover drugs. A wide range of human drugs continue to be applied...
Over The Counter Drug Use
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.