Market analysts, ResearchAndMarkets, estimates the global veterinary oncology market to grow by a CAGR of 9.3% between 2020 and 2027 in a newly released report. The market was valued at an estimated $215.4 million in 2020, and is expected to reach a value of $400.2 million in 2027. The forecast was revised due to the impact of COVID-19. As part of the global value, the US veterinary oncology market was estimated to capture about $58.3 million in 2020.
Several segments are highlighted in the report, including radiology, which is estimated to grow at a CAGR of 8.6% during the period. The segment is projected to reach a value of $115.9 million by 2027. Chemotherapy estimates were revised due to the pandemic, and was reported at a CAGR of 10% from 2020 to 2027.
At the same time, immunotherapy treatment is expected to capture a CAGR of 9.7% globally. That segment will be driven by geographic regions in the US, Canada, China, Europe, and Japan. Combined values of those regions are estimated at $32.4 million in 2020 and $59.3 million in 2027.
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