The global veterinary oncology market size was USD 379.91 Million in 2022 and is expected to reach USD 940.76 Million in 2032, and register a rapid revenue CAGR of 10.6% during the forecast period. Rising prevalence of cancer in companion animals, and increasing pet adoption rates and increasing awareness about Animal Health, and technological advancements in veterinary oncology, such as targeted therapies and immunotherapy, are major factors driving market revenue growth.
Cancer is one of the leading causes of death in companion animals, including dogs, cats, and horses. According to Animal Cancer Foundation, nearly 6 million dogs and cats are diagnosed with cancer each year in the U.S. alone. Prevalence of cancer in pets is increasing rapidly, which is rising demand for veterinary oncology services. In addition, increasing pet ownership rates and humanization of pets are other factors driving revenue growth of the market. With increasing disposable income, pet owners are willing to spend more on their pets' health, including cancer treatment. Moreover, increasing trend of Pet Insurance, as it covers cost of veterinary oncology services, is also expected to drive market revenue growth.
An analysis of Veterinary Oncology's growth rate, market share, market size, current and emerging trends, production and consumption ratios, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players is provided in the report, which has been segmented into key regions globally. This report provides a country-by-country analysis of the Veterinary Oncology market to give a clearer picture of its regional distribution and growth.
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In the pharmaceutical and healthcare sectors, there is rapid change. As cell and gene therapies become increasingly available, patients are finding appropriate treatments for previously incurable diseases. Machine learning and artificial intelligence (AI) technologies are making it possible for more inventive, faster, and cheaper therapy development to take place. By utilizing data-driven projects, manufacturing, the supply chain, and the entire healthcare ecosystem can benefit. It is clear that consumer attitudes and behaviors are shifting, ranging from a greater use of technology and data sharing to a willingness to use tools to make prescriptions and treatment decisions. Pharma and healthcare markets are expected to grow in the next few years as a result of such factors.
Key Players covered in this report are
Animal Type Outlook (Revenue, USD Million; 2019-2032)
Cancer Type Outlook (Revenue, USD Million; 2019-2032)
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Based on Region market is segmented into:
Major Points covered in this report are as below:
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