U.S. Veterinary Oncology Market Size, Share & Trends Analysis Report By Therapy (Surgery, Radiology, Chemotherapy, Immunotherapy), By Animal Type (Canine, Feline), And Segment- Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

The U.S. veterinary oncology market size was estimated at USD 1.6 billion in 2022 and is expected to surpass around USD 2.89 billion by 2032 and poised to grow at a compound annual growth rate (CAGR) of 6.1% during the forecast period 2023 to 2032.

U.S. Veterinary Oncology Market Size, 2023 to 2032

Key Takeaways:

  • By Therapy, the U.S. Veterinary Oncology market was valued at USD 99.85 Million in 2022 and expected to witness growth at a CAGR of 6.0% from 2023 to 2032.
  • The radiology segment accounted for the maximum share of more than 26% of the global revenue in 2022.
  • The canine segment held the largest revenue share of over 56% in 2022 and is also anticipated to grow the fastest in the coming years.
  • The immunotherapy segment is estimated to register the fastest CAGR from 2023 to 2032 owing to the growing number of veterinary centers focused on carrying out clinical trials in immunotherapy areas
  • Chemotherapy is estimated to be the second-largest therapy segment by 2032. According to the Cancer Veterinary Center, the most common canine & feline tumors treated with chemotherapy are osteosarcomas, lymphomas, hemangiosarcoma, mast cell tumors, bladder tumors, mammary gland tumors, etc.
  • Market players are undertaking various competitive strategies to gain an edge over others. For instance, in May 2020, PetCure Oncology and Sugar Land Veterinary Specialists publicized a novel radiation oncology service, expanding their network in Houston

U.S. Veterinary Oncology Market Report Scope

Report Attribute Details
Market Size in 2023 USD 1.7 Billion
Market Size by 2032 USD 2.89 Billion
Growth Rate From 2023 to 2032 CAGR of 6.1%
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered Therapy, Animal type
Market Analysis (Terms Used)

Value (US$ Million/Billion) or (Volume/Units)

Report Coverage  Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Key Companies Profiled  Boehringer Ingelheim International GmbH; Elanco; Zoetis; PetCure Oncology; Accuray Incorporated; Varian Medical System, Inc; Morphogenesis, Inc.; Karyopharm Therapeutics, Inc.; Regeneus Ltd.; One Health

 

The major contributors to the market growth are the increasing prevalence of cancer cases, the growing number of pet owners, technological advancements in per cancer therapeutics, and ongoing clinical trials related to veterinary oncology. Moreover, pet owners are willing to spend more on pet health, which is also among the major factors driving the demand for pet cancer therapies. The COVID-19 pandemic has changed pet owners’ relationships with their companions. It acted as a catalyst for rapid business and economic changes.

As various governments across the world urged individuals to stay at home during the pandemic, many people found comfort and companionship through pets. The pet expenditure has witnessed an increase during the coronavirus breakdown. At the animal shelters in the country, adoption rates soared as much as 40% in 2020 as compared to 2019. Growing R&D in veterinary oncology to provide the best treatments to pets with cancer is a major boon for the market. An increase in investments related to pet cancer therapeutics by organizations is expected to fuel the market growth. The corporations are engaging in strategies, such as licensing, R&D collaborations, and business development, to enhance their product pipeline in veterinary oncology.

For instance, in 2020, Boehringer Ingelheim spent USD 412 million on their R&D activities. Furthermore, ongoing clinical trials in this field support the market growth. In March 2020, The University of Illinois Cancer Care Clinic and Comparative Oncology Research Laboratory publicized two clinical trials for canine cancer. Other supportive drugs are still in pipeline and are expected to offer lucrative opportunities in the coming years. Veterinary medicine has evolved numerously in recent years and advancements in technology permit to provide medical attention to pets as it is available for humans.

Technological upgradation in the veterinary sector to provide an effective treatment to companion animals drives the market growth. In addition, the presence of major players in the country further contributes to its growth. Participants in the country are actively involved in product expansion strategies to gain a competitive advantage. For instance, in January 2021, CureLab Oncology started CureLab Veterinary, a subsidiary with exclusive rights to use CureLab Oncology patents for the treatment of canines, felines, and horses worldwide. The first target market for the subsidiary’s patented DNA therapeutics is canines and felines. The company also has seven R&D sites in the U.S.

Therapy Insights

The radiology segment accounted for the maximum share of more than 26% of the global revenue in 2022. Radiology is often carried out with surgery to help excise tumors. An increasing number of government initiatives for the establishment of new veterinary radiation centers in the U.S. are propelling the growth of this segment. For instance, in November 2020, at Roanoke, Virginia, Virginia Tech’s Animal Cancer Care and Research Center started a radiation therapy facility for pets that has a Varian LINAC accelerator installed. The LINAC also consists of Rapid Arc technology.

It can rotate 360 degrees while delivering the radiation to treat different types of tumors in companion animals. The establishment of such new state-of-the-art radiology centers focused on treatment for pet cancer is expected to help boost the segment growth. The immunotherapy segment, on the other hand, is expected to register the fastest growth rate of over 8% in the coming years on account of an increase in the number of veterinary centers focused on carrying out clinical trials in immunotherapy. For instance, The University of Pennsylvania in collaboration with Penn Vet Cancer Center is involved in carrying out immunotherapy clinical trials.

Animal Type Insights

The canine segment held the largest revenue share of over 56% in 2022 and is also anticipated to grow the fastest in the coming years. The rising prevalence of canine cancer boosts the demand for an effective treatment modality. Increasing R&D initiatives and a growing number of clinical trials support the segment’s dominance. For instance, in November 2019, The UC Davis School of veterinary medicine became part of the Vaccination Against Canine Cancer Study (VACCS) trial, the largest clinical trial to evaluate a new vaccine strategy for the treatment and prevention of cancer in dogs. An increase in clinical trial activities specific to canine cancer therapeutics is expected to propel the segment growth in the coming years.

For instance, in March 2020, The Comparative Oncology Research Laboratory and the University of Illinois Cancer Care Clinic publicized 2 clinical trials for canines with cancer. Other supportive drugs are still in the pipeline and, if approved, can significantly drive the market. Cats are the second most popular choice by pet owners in the U.S. Increased concerns regarding their health and hygiene are driving the growth of the feline segment. According to the published article in NCBI in 2019, squamous cell carcinoma is the most common malignant oral tumor in the feline population. The growing number of cats diagnosed with cancer is expected to boost the demand for veterinary oncology products in the U.S.

Key Companies & Market Share Insights

The market is highly competitive as players operating in the industry are focusing on research collaborations, product developments, geographic expansions, and investments in innovative technologies. For instance, in May 2020, PetCure Oncology and Sugar Land Veterinary Specialists publicized a novel radiation oncology service, expanding their network in Houston. In January 2021, the U.S. FDA conditionally approved verdinexor tablets by Karyopharm Therapeutics Inc. to treat lymphoma in canines. This is the first oral treatment to treat dogs with lymphoma. Some of the prominent players in the U.S. veterinary oncology market include:

  • Boehringer Ingelheim International GmbH
  • Elanco
  • Zoetis
  • PetCure Oncology
  • Accuray Inc.
  • Varian Medical System, Inc.
  • Morphogenesis, Inc.
  • Karyopharm Therapeutics, Inc.
  • Regeneus Ltd.
  • One Health

Segments Covered in the Report

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the U.S. Veterinary Oncology market.

By Therapy 

  • Surgery
  • Radiology
    • Stereotactic Radiation Therapy
      • Gamma Knife
      • LINAC
      • PBRT
      • CyberKnife
    • Brachytherapy
    • Others
  • Chemotherapy
  • Immunotherapy
  • Others

By Animal Type 

  • Canine
    • Lymphoma
    • Mast Cell Cancer
    • Mammary & Squamous Cell Cancer
    • Others
  • Feline
    • Mammary & Squamous Cell Cancer
    • Others
  • Others

Frequently Asked Questions

The U.S. veterinary oncology market size was estimated at USD 1.6 billion in 2022 and is expected to surpass around USD 2.89 billion by 2032

The U.S. veterinary oncology market is expected to grow at a compound annual growth rate of 6.1% from 2023 to 2032

Some key players operating in the U.S. veterinary oncology market include Boehringer Ingelheim International GmbH, Elanco, Zoetis, PetCure Oncology, Accuray Incorporated, Varian Medical System, Inc., Morphogenesis, Inc., Karyopharm Therapeutics, Inc., Regeneus Ltd., One Health., and OHC

Key factors that are driving the U.S. veterinary oncology market growth include the increasing adoption of different cancer therapeutics to curb cancer cases in pets, a growing pet population with the rising number of companion pet ownership, and willingness to spend on pets by pet proprietors.

Chapter 1. Methodology and Scope
                    1.1. Market Segmentation And Scope
                        1.1.1 Regional Scope
                        1.1.2 Estimates And Forecast Timeline
                    1.2. Research Methodology
                    1.3. Information Procurement
                        1.3.1 Purchased Database
                        1.3.2 Nova one advisor Internal Database
                        1.3.3 Secondary Sources
                        1.3.4 Primary Research
                    1.4. Information/Data Analysis
                        1.4.1 Information Analysis
                    1.5. Market Formulation & Visualization
                    1.6. Data Validation & Publishing
                    1.7. Model Details
                    1.8. List Of Secondary Sources
Chapter 2. Executive Summary
                    2.1. Market Snapshot
                    2.2. Segment Snapshot
                    2.3. Competitive Insights Snapshot
Chapter 3. U.S. Veterinary Oncology Market Variables, Trends, and Scope
                    3.1. Market Lineage
                        3.1.1. Parent Market Analysis
                        3.1.2. Ancillary Market Analysis
                    3.2. U.S. Veterinary Oncology Market Dynamics
                        3.2.1. Market Driver Analysis
                            3.2.1.1. Increasing prevalence of cancer in pets
                            3.2.1.2. Increasing R&D in pet cancer therapy
                            3.2.1.3. Growing focus on animal safety
                            3.2.1.4. Growing demand for pet insurance
                            3.2.1.5. Technological advancements in pet cancer treatment
                            3.2.1.6. Increase in pet adoption
                        3.2.2. Market Restraint Analysis
                            3.2.2.1. High cost of pet cancer treatments
                            3.2.2.2. Increasing incidence of pet abandonment and euthanasia
                            3.2.2.3. Adverse effects of drugs used for pet cancer treatment
                        3.2.3. Market Opportunity Analysis
                        3.2.4. Market Challenges Analysis
                    3.3. U.S. Veterinary Oncology Market: Porter’s 5 Forces Analysis
                            3.3.1.1. Threat of New Entrants
                            3.3.1.2. Threat of Substitutes
                            3.3.1.3. Bargaining Power of Buyers
                            3.3.1.4. Bargaining Power of Suppliers
                            3.3.1.5. Competitive Rivalry
                    3.4. U.S. Veterinary Oncology Market: PESTLE Analysis
                            3.4.1.1. Political Landscape
                            3.4.1.2. Economic Landscape
                            3.4.1.3. Social Landscape
                            3.4.1.4. Technology Landscape
                            3.4.1.5. Legal Landscape
                            3.4.1.6. Environmental Landscape
                    3.5. User Perspective Analysis
                    3.6. Regulatory Framework
                    3.7. Technology Overview
                    3.8. Therapy Pipeline Analysis
                    3.9. Pricing Analysis
                    3.10. Covid-19 Impact Analysis
                    3.11. Estimated pet population by key species, 2020 to 2023
Chapter 4. Therapy Estimates & Trend Analysis, 2020 – 2032
                    4.1. U.S. Veterinary Oncology Market By Therapy: Key Takeaways
                    4.2. Therapy Movement Analysis & Market Share, 2023 & 2032
                    4.3. U.S. Veterinary Oncology Market Estimates & Forecast, By Therapy
                    4.4. Surgery
                        4.4.1. Surgery Market Estimates And Forecasts, 2020 - 2032
                    4.5. Radiology
                        4.5.1. Radiology Market Estimates And Forecasts, 2020 - 2032
                        4.5.2. Stereotactic Radiation Therapy
                            4.5.2.1. Stereotactic Radiation Therapy Market Estimates And Forecasts, 2020 - 2032
                            4.5.2.2. Gamma knife
                                4.5.2.2.1. Gamma knife Market Estimates And Forecasts, 2020 - 2032
                            4.5.2.3. Linear accelerators
                                4.5.2.3.1. Linear accelerators Market Estimates And Forecasts, 2020 - 2032
                            4.5.2.4. Particle beam
                                4.5.2.4.1. Particle beam Market Estimates And Forecasts, 2020 - 2032
                            4.5.2.5. Cyberknife
                                4.5.2.5.1. Cyberknife Market Estimates And Forecasts, 2020 - 2032
                        4.5.3. Brachytherapy
                            4.5.3.1. Brachytherapy Market Estimates And Forecasts, 2020 - 2032
                        4.5.4. Others
                            4.5.4.1. Others Market Estimates And Forecasts, 2020 - 2032
                    4.6. Chemotherapy
                        4.6.1. Chemotherapy Market Estimates And Forecasts, 2020 - 2032
                    4.7. Immunotherapy
                        4.7.1. Immunotherapy Market Estimates And Forecasts, 2020 - 2032
                    4.8. Others
                        4.8.1. Others Market Estimates And Forecasts, 2020 - 2032
Chapter 5. Animal Type Estimates & Trend Analysis, 2020 – 2032
                    5.1. U.S. Veterinary Oncology Market By Animal Type: Key Takeaways
                    5.2. Animal Type Movement Analysis & Market Share, 2023 & 2032
                    5.3. U.S. Veterinary Oncology Market Estimates & Forecast, By Animal Type
                    5.4. Canine
                        5.4.1. Canine Market Estimates And Forecasts, 2020 - 2032
                        5.4.2. Lymphoma
                            5.4.2.1. Others Market Estimates And Forecasts, 2020 - 2032
                        5.4.3. Mast Cell Cancer
                            5.4.3.1. Others Market Estimates And Forecasts, 2020 - 2032
                        5.4.4. Mammary and Squamous Cell Cancer
                            5.4.4.1. Others Market Estimates And Forecasts, 2020 - 2032
                        5.4.5. Others
                            5.4.5.1. Others Market Estimates And Forecasts, 2020 - 2032
                    5.5. Feline
                        5.5.1. Feline Market Estimates And Forecasts, 2020 - 2032
                        5.5.2. Mammary and Squamous Cell Cancer
                            5.5.2.1. Mammary and Squamous Cell Cancer Market Estimates And Forecasts, 2020 - 2032
                        5.5.3. Others
                            5.5.3.1. Others Market Estimates And Forecasts, 2020 - 2032
Chapter 6. Competitive Landscape
                    6.1. Market Participant Categorization
                    6.2. Key Company Profiles
                                • Zoetis
                                • Boehringer Ingelheim International GmbH
                                • Elanco
                                • PetCure Oncology
                                • Accuray Incorporated
                                • Varian Medical Systems, Inc.
                                • Morphogenesis, Inc.
                                • Karyopharm Therapeutics, Inc.
                                • Regeneus Ltd.
                                • OHC (One Health Company)
                        6.2.1. Participant’s Overview
                        6.2.2. Therapy Benchmarking
                        6.2.3. Financial Performance
                        6.2.4. Strategy Mapping
                    6.3. List Of Key Companies
                    6.4. Company Market Position Analysis

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