Veterinary Oncology Market Top Players Business Value Stated US$ 909.4 Million, at a CAGR of 10.9% By 2026: Coherent Market Insights

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According to Global Veterinary Oncology Market, by Animal Type (Companion Animal (Equine, Canine, and Feline), and Livestock Animal), By Therapy Type (Chemotherapy, Combination Therapy, Immunotherapy, and Targeted Therapy), By Mode of Administration (Oral and Intravenous), by Application (Canine Lymphoma, Osteosarcoma (OSA), Mast Cell Cancer, Melanoma, and Multiple Myeloma), By Distribution Channel (Hospital Pharmacies, Government Agencies, and Retail Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), published by Coherent Market Insights, the global veterinary oncology market was valued at US$ 401.8 in 2018 and is projected to exhibit a CAGR of 10.9% over the forecast period (2019 – 2026).

Increasing approval and launch of new therapies is expected to propel growth of the global veterinary oncology market over the forecast period. For instance, in 2017, the U.S. Food and Drug Administration conditionally approved VetDC, Inc.’s Tanovea-CA1 (rabacfosadine) for injection for a term of one year, for the treatment of canine lymphoma. Moreover, in 2016, Lymphocyte T-Cell Immunomodulator manufactured by T-Cyte Therapeutics, Inc. received a conditional license from the U.S. Department of Agriculture (USDA) for cats with Feline leukemia virus (FeLV).

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R&D of new drugs is also expected to aid in growth of the market. For instance, Oasmia Pharmaceuticals AB’s Doxosphos Vet, a patented formulation of doxorubicin and patented XR17 technology is under development for the treatment of lymphoma in dogs.

Among animal type, the companion animal segment is expected to hold major revenue share in 2026. This is attributed to increasing R&D activities and manufacturing facility based on veterinary oncology for companion animals. For instance, in April 2018, Zoetis, Inc. established its animal vaccine research and manufacturing facility in Suzhou, China, which is focused on development and production of quality vaccines for companion animals.

Major players in the market are focused on adopting partnership and collaboration strategies to expand their product portfolio. For instance, in 2017, Karyopharm and Anivive Lifesciences entered into an exclusive global license agreement for R&D and commercialization of Verdinexor (KPT-335), a drug for the treatment of lymphoma, which is in phase 2b of clinical trials.

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Key Takeaways:

The global veterinary oncology market is expected to witness a CAGR of 10.9% during the forecast period (2019–2026)

Increasing approval and launch of new therapies is expected to propel growth of the global veterinary oncology market over the forecast period

Major players operating in the global veterinary oncology market include Zoetis Inc., Elanco, AB Science, Boehringer Ingelheim International GmbH, Zenoaq, VetDC Inc., Morphogenesis, Inc., Karyopharm Therapeutics, Inc., Regeneus Ltd., AdvaVet, Inc., and Rhizen Pharmaceutical SA.

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