Veterinary oncology market to approach $600M
by Katie Pfaff
The global marketplace for veterinary oncology is expected to reach a value of $592.8 million by the end of 2022, according to a new report by Coherent Market Insights, a global market intelligence and consulting organization. Looking ahead, the growth across the forecast period from 2022 to 2030 is projected at 10.9%.
This growth in the veterinary oncology sector is expected due to innovations across the market and the launch of new drugs, according to a news release. Most of the research and development in veterinary oncology is expected to be focused on companion animals.
In parallel with the innovation pipeline, the companion animal segment is expected to hold a major revenue share in 2026, owing to increasing R&D activities and manufacturing facilities based on veterinary oncology for companion animals.
Collaboration, partnerships and acquisitions are expected to bolster growth. The Asia Pacific region is expected to witness a rapid growth in the global veterinary oncology market during the forecast period, due to the presence of veterinary foundations focusing on cancer research. For instance, The Australian Animal Cancer Foundation, Australia supports scientific research on veterinary cancer and seeks funds from government and private organizations.
Key players operating in the global veterinary oncology market include Zoetis Inc., Elanco, AB Science, Boehringer Ingelheim International GmbH, Zenoaq, VetDC Inc., Morphogenesis, Inc., Karyopharm Therapeutics, Inc., Regeneus Ltd., AdvaVet, Inc. and Rhizen Pharmaceutical SA.
To learn more visit the Coherent Market Insights website.
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