SAN FRANCISCO, April 7, 2020 /PRNewswire/ -- The global veterinary oncology market size is expected to reach USD 447.0 million by 2027, expanding at a CAGR of 10.7% over the forecast period, according to a new report by Grand View Research, Inc. Increasing prevalence of cancer in pets and demand for veterinary diagnostics are projected to drive the market over the forecast period.
Key suggestions from the report:
- Increasing prevalence of cancer in animals, clinical trial studies to evaluate safety and effectiveness of cancer therapeutics, and technological advancements in veterinary oncology treatment are anticipated to create growth opportunities in the market
- The chemotherapy segment is anticipated to account for the largest revenue share over the coming years owing to its increasing adoption either alone or in combination with other therapies
- The canine segment held the largest revenue in 2019 owing to increasing population of dogs and high prevalence of cancer in dogs as compared to cats
- Lymphoma dominated the market among other cancer types in 2019, due to high mortality rate in companion animals
- North America held the dominant share of the veterinary oncology market in 2019, due to favorable government policies, new product launches, and huge investment in oncology treatment
- Asia Pacific is anticipated to witness lucrative growth due to increasing focus on animal health and expenditure, increasing number of pets being exposed to cancer, and government focus on animal safety and initiatives to curb cancer in pet animals
- Some of the key companies are Boehringer Ingelheim; PetCure Oncology; Elanco; Accuray Incorporated; Varian Medical Systems; Zoetis; Karyopharm Therapeutics, Inc.; One Health; and Regeneus Ltd.
Read 120 page research report with ToC on "Veterinary Oncology Market Size, Share & Trends Analysis Report By Therapy (Surgery, Radiology, Chemotherapy), By Animal Type (Canine, Feline), By Cancer Type, By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/veterinary-oncology-market
Adoption of canine cancer registry globally to estimate cancer incidences is another driving factor for the market growth. According to frontiers in Veterinary Science in February 2019, the Swiss Canine Cancer Registry (SCCR) was used as a data source and was compiled for future comparative studies of canine and human cancers. This database is further helpful in mitigating the incidence of malignant tumors in the human population, thereby driving the market growth.
Researchers carrying out studies focused on veterinary oncology are further boosting the veterinary oncology market growth. For instance, University of Illinois in August 2017, carried out study that involves more precise detection of metastasis (spread of cancer through the body) for head and neck tumors in dogs. Moreover, the market players are also focusing on new product innovation and strategic collaborations. For instance, in 2018 AdvaVet, a subsidiary of Oasmia Pharmaceutical AB, developed XR17 technology, which is nanoparticle formulation based that makes a single Active Pharmaceutical Ingredient (API) or multiple APIs water soluble. It is a combination therapy and is also a standard treatment for a number of cancer diseases in pet animals.
Grand View Research has segmented the global veterinary oncology market based on therapy, animal type, cancer type, and region:
- Veterinary Oncology Therapy Outlook (Revenue, USD Million, 2016 - 2027)
- Others (Combination Therapy, Targeted Therapy)
- Veterinary Oncology Animal Type Outlook (Revenue, USD Million, 2016 - 2027)
- Veterinary Oncology Cancer Type Outlook (Revenue, USD Million, 2016 - 2027)
- Mast Cell Cancer
- Mammary and Squamous Cell Cancer
- Others (Anal Sac Carcinoma)
- Veterinary Oncology Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Find more research reports on Animal Health Industry, by Grand View Research:
- Veterinary Equipment And Disposables Market – The global veterinary equipment and disposables market is anticipated to witness growth over the forecast period. Increasing prevalence of zoonotic diseases facilitating adoption of diagnostic veterinary equipment.
- Veterinary Diagnostics Market – The global veterinary diagnostics market size was estimated at USD 3.3 billion in 2018 and is expected to grow at a CAGR of 6.4% over the forecast period.
- Veterinary Orthopedics Market – The global veterinary orthopedics market size was estimated at USD 396.86 million in 2018 and is expected to witness a CAGR of 8.4% during the forecast period
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Corporate Sales Specialist, USA
Grand View Research, Inc.
Toll Free: 1-888-202-9519
SOURCE Grand View Research, Inc.