Global Veterinary Oncology Market to Surpass US$ 909.4 Million by 2026 – Coherent Market Insights

SEATTLE--()--According to Coherent Market Insights, the global veterinary oncology market was valued at US$ 401.8 million in 2018, and is projected to exhibit a CAGR of 10.9% during the forecast period (2019 – 2026).

Key Trends and Analysis of the Global Veterinary Oncology Market:

The global veterinary oncology market is expected to witness significant growth during the forecast period, owing to increasing regulatory approvals for veterinary oncology products. For instance, in 2018, Aratana Therapeutics was granted conditional approval for its canine osteosarcoma vaccine, live Listeria vector (AT-014), by the U.S. Department of Agriculture’s Center for Veterinary Biologics.

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Moreover, manufacturers are focused on adopting acquisition strategies to expand their product portfolio in the veterinary oncology market. For instance, in 2018, Zoetis Inc. announced the completion of acquisition of Abaxis, a company focused on the development, manufacturing, and marketing of diagnostic instruments for veterinary point-of-care services. Moreover, in 2015, Aratana Therapeutics, Inc. acquired Vet Therapeutics, Inc. in order to acquire the advanced pipeline of high value biologic drugs and to become a commercial-stage veterinary oncology company.

Technological advancements in the treatment of cancer in animals is expected to drive the global veterinary oncology market growth during the forecast period. For instance, in 2018 AdvaVet, a subsidiary of Oasmia Pharmaceutical AB, developed an innovative technology named XR17, which is a nanoparticle formulation technology that makes a single API or multiple APIs water soluble. This technology improves solubility and ensures safe administration of APIs in animals.

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Key Market Takeaways:

  • The global veterinary oncology market is projected to witness a CAGR of 10.9% during the forecast period (2019 – 2026) owing to rising collaborations for research and development of targeted therapies for cancer in dogs and cats. For instance, in May 2016, – Zenoaq, a leading Japan-based animal health company, and Nexvet Biopharma, a veterinary biologics developer, announced their research and development collaboration after which they have developed monoclonal antibodies (mAbs) that bind and potently inhibit the immuno-oncology target programmed cell death protein 1 (PD-1).
  • Among regions, North America is expected to hold a dominant position in the global veterinary oncology market during the forecast period, owing to increasing incidence of veterinary cancer in the U.S. which is rising the demand for treatment in US. For instance, the Animal Cancer Foundation 2015, in the U.S., around 6 million new cancers are diagnosed in dogs and cats, annually.
  • Major players operating in the global veterinary oncology market include, Zoetis Inc., Elanco, AB Science, Boehringer Ingelheim International GmbH, Zenoaq, VetDC, Morphogenesis, Inc., Karyopharm Therapeutics, Inc., Regeneus Ltd., AdvaVet, Inc., and Rhizen Pharmaceutical SA

Report Segmentation:

  • Global Veterinary Oncology Market, By Animal Type:
    • Companion Animal
      • Equine
      • Canine
      • Feline
    • Livestock Animal
  • Global Veterinary Oncology Market, By Therapy Type:
    • Chemotherapy
    • Combination Therapy
    • Immunotherapy
    • Targeted Therapy
  • Global Veterinary Oncology Market, By Mode of Administration:
    • Oral
    • Intravenous
  • Global Veterinary Oncology Market, By Application:
    • Canine Lymphoma
    • Osteosarcoma (OSA)
    • Mast Cell Cancer
    • Melanoma
    • Multiple Myeloma
  • Global Veterinary Oncology Market, By Distribution Channel:
    • Hospital Pharmacies
    • Government Agencies
    • Retail Pharmacies
  • Global Veterinary Oncology Market, By Region:
    • North America
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Country:
        • U.K.
        • Germany
        • Italy
        • Spain
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country:
        • Australia
        • India
        • China
        • Japan
        • ASEAN
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East
      • By Country/Region:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Country/Region:
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles

Contacts

Mr. Raj Shah
Coherent Market Insights
1001 4th Ave.
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

Contacts

Mr. Raj Shah
Coherent Market Insights
1001 4th Ave.
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com