The veterinary oncology market caters to the diagnosis and treatment of cancer in pets. It involves veterinary oncology drugs, devices, and therapies used for cancer radiation therapy, chemotherapy, immunotherapy, and surgical oncology in pets. The increasing pet adoption, rising pet healthcare expenditure, and advancements in veterinary cancer diagnostics and therapeutics are fueling the demand for veterinary oncology products and services.

The Global Veterinary Oncology Market Size is estimated to be valued at US$ 657.42 Mn in 2023 and is expected to exhibit a CAGR of 14% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends: One of the key trends propelling the growth of the veterinary oncology market is the rising pet adoption rates across the world. According to recent industry reports, pet ownership, especially dog ownership, has increased significantly over the past few years. This has correspondingly increased animal healthcare spending, including on cancer diagnosis and treatment. Advancements in veterinary cancer diagnostics technologies such as CT, MRI, ultrasound, and veterinary oncology therapeutics in the form of targeted therapies, immunotherapy, and combination therapies are also fueling the demand in the veterinary oncology market.

SWOT Analysis

Strength: The veterinary oncology market has witnessed high awareness levels among pet owners regarding cancer treatment. This has resulted in increasing demand for advanced veterinary oncology services.

Weakness: High costs associated with veterinary cancer diagnosis and therapeutics restricts the market growth to some extent. Lack of veterinary oncologists also poses a challenge.

Opportunity: Rising animal healthcare expenditure and growing pet insurance coverage are expected to create lucrative opportunities. Also, ongoing research towards the development of novel targeted therapies will further aid the market expansion.

Threats: Strict regulatory framework for approval of veterinary oncology drugs and lack of specialized training programs are major threats faced by market players. Rising competition from alternative treatment options also impacts the market negatively.

Key Takeaways

The global veterinary oncology market is expected to witness high growth. The global Veterinary Oncology Market is estimated to be valued at US$ 657.42 Mn in 2023 and is expected to exhibit a CAGR of 14% over the forecast period 2023 to 2030.


The North America veterinary oncology market currently dominates with the largest share. This is attributed to the rising pet adoption, growing animal healthcare expenditure, and presence of major market players in the region. The Asia Pacific region is anticipated to witness the fastest growth over the forecast period owing to increasing pet ownership, rising per capita animal healthcare spending, and growing awareness about cancer diagnostics and treatment in companion animals.

Key players:
Key players operating in the veterinary oncology market are Thermo Fisher Scientific Inc., CRISPR Therapeutics AG, and Intellia Therapeutics. Thermo Fisher Scientific Inc. offers a wide range of clinically proven diagnostic platforms and veterinary assays. CRISPR Therapeutics AG is involved in developing transformative gene-based medicines for serious diseases. Intellia Therapeutics is focusing on developing curative therapeutics using CRISPR/Cas9 technology.

Get More Insights Here: https://www.newsstatix.com/veterinary-oncology-market-trends-growth-and-regional-outlook-2023-2030/