Veterinary Oncology Market Updates

Veterinary Oncology Market size was valued at USD 259.4 Billion in 2023 and is poised to grow from USD 290.79 Billion in 2024 to USD 725.14 Billion by 2032, growing at a CAGR of 12.10% during the forecast period (2025-2032).

The market for veterinary oncology is seeing intense competition as a result of the availability of oncology treatments for veterinary use from numerous large pharmaceutical and medical device businesses. To expand their revenue share and establish their presence, market participants are concentrating on putting new tactics into practice, such as regional growth, mergers, acquisitions, the introduction of new products, collaborations, and distribution agreements. Following Elanco's acquisition of Aratana Therapeutics in, the corporation announced the creation of a commercial team focused on the veterinary specialty market. 'Zoetis Inc. (USA) ', 'Elanco Animal Health (USA) ', 'Boehringer Ingelheim (Germany) ', 'Merck Animal Health (USA) ', 'Virbac (France) ', 'Ceva Sante Animale (France) ', 'Vetoquinol (France) ', 'Dechra Pharmaceuticals (UK) ', 'IDEXX Laboratories (USA) ', 'Heska Corporation (USA) ', 'Aratana Therapeutics (USA) ', 'Karyopharm Therapeutics (USA) ', 'Regeneus Ltd. (Australia) ', 'PetCure Oncology (USA) ', 'Accuray Incorporated (USA) ', 'Varian Medical Systems (USA) ', 'Morphogenesis, Inc. (USA) ', 'Nippon Zenyaku Kogyo Co., Ltd. (Japan) ', 'Eli Lilly and Company (USA) ', 'Bayer AG (Germany) '

The rising prevalence of cancer in companion animals, such as dogs and cats, is a major driver of the veterinary oncology market. Pets are living longer, and like humans, they are susceptible to developing cancer as they age. This drives the demand for effective oncology treatments.

Increasing Focus on Personalized Medicine: Similar to human oncology, there is a growing trend in veterinary oncology towards personalized medicine. This approach involves tailoring treatment plans based on the specific characteristics of an individual animal's cancer, such as genetic mutations or biomarkers. Personalized medicine aims to improve treatment outcomes and minimize adverse effects.

North America held charge of the majority of the veterinary oncologist market in 2022, accounting for a 45.0% revenue share. The category is estimated to dominate the market for the anticipated period of time. Three major aspects that contribute to the market expansion are the increasing emphasis on pet health, the presence of several pet medicine manufacturing companies, and the rapid adoption of novel pet care treatments. Along with increased government funding for pet cancer treatments in this region, the market is also being driven by the presence of industry titans in the oncology sector.