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What are the Key Projections for the CAGR of the Veterinary Oncology Market From 2025 to 2034?

In the recent past, the veterinary oncology market has expanded at a speedy pace. This market, which stood at $0.4 billion in 2024, is expected to rise to $0.45 billion in 2025, representing a compound annual growth rate (CAGR) of 12.3%. The advancement in the past years was driven by factors such as higher pet ownership rates, the trend of treating pets like family members, the application of knowledge from human oncology to animal cancer treatment, growing cognizance about pet health, and progress in the pharmaceutical sector.

In the upcoming years, the veterinary oncology market is predicted to experience a significant expansion. With a compound annual growth rate (CAGR) of 11.0%, the market size is projected to reach $0.69 billion by 2029. Factors contributing to this sizeable growth during the forecast period include the popularity of personalized medication for animals, an increase in cancer cases among animals, a growing older pet population, broader access to specialized animal healthcare services, and regulatory support and approval. The forecast period also expects to see significant trends including state-of-the-art diagnostic methods, customized treatment protocols, advancements in immunotherapy, targeted treatments, and the use of telemedicine for oncology consultations.

What External and Internal Drivers Are Contributing to the Growth of the Veterinary Oncology Market’s Growth?

The veterinary oncology market is projected to grow due to the increasing rates of cancer among pets. Cancer involves a malfunction in the body’s cells which leads to uncontrollable growth and spread to other parts of the body. When it comes to pets, these sequences often manifest as physical signs such as tumors. Veterinary oncology aims to diagnose and treat cancer in animals, primarily by minimizing the spread of the disease and its metastasis. Consequently, the surge in pet cancer directly amplifies the demand for veterinary oncology. For example, The Cancer Letter, a U.S. publication dedicated to cancer research, predicts that around 6 million pet dogs will be affected by cancer in the U.S. by 2024. In addition, the British Small Animal Veterinary Association (BSAVA), a U.K.-based veterinary group, foresees that about one-fourth of dogs and one-fifth of cats will be diagnosed with cancer in their lifetime, as per their November 2023 estimation. This growing incidence of cancer in pets is thus fueling the expansion of the veterinary oncology market.

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What Are the Key Industry Players Leading the Charge in the Veterinary Oncology Market’s Growth?

Major companies operating in the veterinary oncology market include PetCure Oncology Inc., Zoetis Inc., Karyopharm Therapeutics Inc., Varian Medical Systems Inc., Accuray Incorporated, Boehringer Ingelheim International GmbH, Elanco Animal Health Inc., One Health Company Inc., Regeneus Limited, VetDC Inc., Pharmaust Limited, AdvaVet Inc., Nippon Zenyaku Kogyo Company Limited, Rhizen Pharmaceutical SA, AB Science SAS, Pfizer Inc., Takis Biotech GmbH, Qbiotics LLC, Jaguar Animal Health Solutions Inc., Orion Corporation A/B, Invectys S.A., Virbac SA, SeQuent Scientific Limited, Ceva Santé Animale S.A., Vetoquinol S.A., IDVet Inc., Bayer Aktiengesellschaft, Morphogenesis Inc., ZENOAQ GmbH, Oncovet Clinical Research Inc.

How Are the Latest Trends Influencing the Growth of the Veterinary Oncology Market?

Leading businesses in the veterinary oncology market are prioritizing the production of neoantigens, distinctive tumor-specific antigens generated by cancer cell mutations. These neoantigens, essentially unique protein fragments, are the products of tumor-specific alterations in cancer cells. Different from their normal counterparts present in healthy tissues, these neoantigens are generated due to genetic variations within the tumor’s DNA. As an example, in October 2024, a US biotech company initiated a cancer vaccine trial for canines. The exploration of neoantigens is ongoing, in the quest to improve cancer vaccines and other immunotherapy approaches, with a focused objective of boosting the immune response particularly against cancer cells, without negatively affecting normal cells.

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How Are Key Segments Defining the Competitive Landscape of the Veterinary Oncology Market?

The veterinary oncology market covered in this report is segmented –

1) By Therapy: Surgery, Radiology, Chemotherapy, Other Therapies

2) By Animal Type: Equine, Canine, Feline, Other Animal Types

3) By Cancer Type: Lymphoma, Mast Cell Cancer, Mammary And Squamous Cell Cancer, Other Cancer Types

Subsegments:

1) By Surgery: Tumor Resection, Palliative Surgery, Laparoscopic Surgery, Amputation

2) By Radiology: Radiation Therapy, Stereotactic Radiosurgery, Brachytherapy, Imaging Techniques

3) By Chemotherapy: Injectable Chemotherapy, Oral Chemotherapy, Combination Chemotherapy Protocols, Targeted Therapy Agents

4) By Other Therapies: Immunotherapy, Photodynamic Therapy, Supportive Care, Alternative Therapies

What Regions Are Influencing the Dynamics of the Veterinary Oncology Market?

The countries covered in the veterinary oncology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

What Key Elements Shape the Definition of the Veterinary Oncology Market?

Veterinary oncology refers to the diagnosis and treatment of cancer by specially trained experts to integrate cancer treatment with underlying conditions while sustaining a quality of life in animals. It deals with cancer medicine and treatment services in animals.

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