Veterinary Oncology Market – By Cancer Diagnostics & Treatment (Diagnostics [Imaging, Biopsy], Treatment [Surgery, Chemotherapy]), Animal Type (Canine, Feline, Equine), Cancer Type (Mast Cell Tumors, Lymphomas, Melanoma) - Global Forecast, 2024 – 2032

Veterinary Oncology Market – By Cancer Diagnostics & Treatment (Diagnostics [Imaging, Biopsy], Treatment [Surgery, Chemotherapy]), Animal Type (Canine, Feline, Equine), Cancer Type (Mast Cell Tumors, Lymphomas, Melanoma) - Global Forecast, 2024 – 2032

Veterinary Oncology Market size is anticipated to grow at 7.1% CAGR between 2024 and 2032. The growing awareness among pet owners about the prevalence of cancer in animals is driving the higher availability of advanced treatment options. As a result, more pet owners are opting for oncology services and treatments for their beloved companions. The increasing pet population, coupled with rising disposable incomes and the humanization of pets has led to the uptick in spending on pet healthcare, including oncology treatments. As per the American Pet Products Association 2023-2024 statistics, 86.9 million U.S. households owned a pet.

Moreover, collaborations & partnerships between pharmaceutical companies, academic institutions, and veterinary clinics are driving the development of novel therapies for veterinary oncology. These partnerships are facilitating the translation of research findings into clinical applications, leading to the introduction of new drugs and treatment modalities for cancer in animals. Additionally, supportive government initiatives aimed at promoting animal welfare and the development of veterinary healthcare infrastructure will further contribute to the market growth.

The veterinary oncology industry is classified into cancer diagnostic & treatment, cancer type, animal type and region.

As per animal type, the market value from equine segment is anticipated to witness 6.8% CAGR through 2032. Horses, being valuable assets in various sectors, such as sports, agriculture, and leisure, are increasingly regarded as cherished companions by their owners. Consequently, there is a growing willingness among horse owners to invest in advanced healthcare services, including oncology treatments to ensure the well-being of their equine companions.

Based on cancer type, the melanoma segment in the veterinary oncology market is projected to witness 6.7% CAGR through 2032, favored by the growing demand for specialized veterinary oncology services and treatments to address melanoma cases effectively. Advancements in diagnostic techniques and treatment modalities tailored specifically for melanoma, such as immunotherapy and targeted therapies, have improved patient outcomes and increased the viability of treatment options.

Asia Pacific veterinary oncology industry size will grow significantly at 7.6% CAGR between 2024 and 2032, attributed to the increasing pet population, particularly in countries like China and India. Rising disposable incomes and the growing awareness of pet health among owners are fueling investments in specialized veterinary care. Supportive government initiatives aimed at improving animal welfare and healthcare infrastructure are also contributing to the regional market growth.