North America Veterinary Oncology Market Size, Share & Trends Analysis Report By Animal Type (Canine, Feline), By Therapy (Radiotherapy, Surgery), By Cancer Type, By Country, And Segment Forecasts, 2023 - 2033

North America Veterinary Oncology Market Size, Share & Trends Analysis Report By Animal Type (Canine, Feline), By Therapy (Radiotherapy, Surgery), By Cancer Type, By Country, And Segment Forecasts, 2023 - 2033

North America Veterinary Oncology Market Growth & Trends

The North America veterinary oncology market size is expected to reach USD 1.46 billion by 2033, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 10.57% from 2023 to 2033. The market is driven by the rising incidence of cancer in pets, the number of veterinary clinical trials investigating the safety and effectiveness of various oncologic therapies, and the increasing penetration of pet insurance. Moreover, increasing strategic initiatives for R&D of targeted therapies for cancer in companion animals is boosting market growth. For instance, in July 2023, Ardent Animal Health partnered with FidoCure to expand access to oncology innovation in veterinary medicine by leveraging the latter's genomic testing and precision medicine platform.

During COVID-19, the market witnessed dampened growth owing to several challenges. The pandemic impacted veterinary cancer research & development efforts and the logistics supply of crucial pet pharmaceuticals. It also limited access to veterinary care. According to the Global Animal Health Association's 2020 report, pet owners in a study said that in many countries, veterinarian services were hampered by delayed or skipped care for pets. The pandemic, however, also accelerated the adoption of digital technologies to enhance care. In March 2020, PetCure Oncology upgraded its Telehealth options to enable pet families and referring veterinarians to remotely connect with its board-certified radiation oncologists.

The market is fragmented and competitive due to the presence of several small-to-large market players. Players are actively involved in deploying strategic initiatives to gain market share. For instance, in January 2022, Dechra acquired the rights to sell, market, and support Laverdia-CA1 (verdinexor tablets) in the U.S. from Anivive Lifesciences, Inc. In June 2022, Boehringer Ingelheim International GmbH entered into a research partnership with CarthroniX, a biopharma company, to develop small molecule therapeutics in canine oncology. In April 2023, Torigen Pharmaceuticals partnered with Veterinary Management Groups (VMG) to provide their experimental autologous prescription products and services to the latter's more than 2,000 member clinics network.

North America Veterinary Oncology Market Report Highlights

• Based on animal type, the canine segment dominated the market in 2022 with a revenue share of over 85%. The feline segment, on the other hand, is projected to grow at the fastest CAGR of over 12% over the forecast period. This is attributed to the increasing partnerships and collaborations to further the development and launch of reliable veterinary cancer therapies. In October 2022, Ardent Animal Health, for example, completed a license agreement for a novel checkpoint inhibitor for canine cancer treatment
• In terms of therapy, the surgery segment dominated the market in 2022 with a revenue share of over 35%. The immunotherapy segment is projected to grow at the fastest CAGR of 12% over the forecast period
• Based on cancer type, the skin cancers segment dominated the market in 2022 with a revenue share of over 38%. The others segment is projected to grow at the fastest CAGR of over 11% over the forecast period
• Based on country, the U.S. held the largest revenue share in the market in 2022, while Canada is anticipated to grow at a CAGR of over 13% over the forecast period. The growth in the U.S. is attributed to the presence of key players and strategic initiatives by market players. In April 2023, Torigen Pharmaceuticals opened a new production facility and headquarters in Farmington, Connecticut, U.S.

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