Global Veterinary Oncology Market to Surpass US$ 1,356.1 Million by 2030 - Coherent Market Insights

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Sep 16, 2022, 14:30 ET

SEATTLE, Sept. 16, 2022 /PRNewswire/ -- According to Coherent Market Insights, the global veterinary oncology market is estimated to be valued at US$ 592.8 million in 2022 and is expected to exhibit a CAGR of 10.9 % during the forecast period (2022-2030).

Key Trends and Analysis of the Global Veterinary Oncology Market:

Major players operating in the market are focused on getting the approval by the regulatory bodies and launching new drug in the market, which is expected to drive the global veterinary oncology market growth over the forecast period. For instance, in July 2021, QBiotics Group Limited, life sciences company announced that STELFONTA (tigilanol tiglate injection) 1mg/mL received the US Food and Drug Administration approval and can be used publicly for the treatment of non-metastatic skin-based (cutaneous) mast cell tumors in dogs. STELFONTA is an intra-tumoral injection indicated for the treatment of non-metastatic cutaneous mast cell tumors and non-metastatic subcutaneous mast cell tumors located at or distal to the elbow or the hock in dogs. QBiotics Group Limited (QBiotics), life sciences company developing novel small molecule anticancer and wound healing pharmaceuticals, announced the Australian Pesticides and Veterinary Medicines Authority (APVMA) had approved its lead veterinary product STELFONTA (tigilanol tiglate). This approval represents Australia's first pharmaceutical treatment available for all grades of canine non-metastatic Mast Cell Tumor.

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Key Market Takeaways:

The global veterinary oncology market is expected to exhibit a CAGR of 10.9% during the forecast period due to the increasing adoption of inorganic growth strategies such as collaboration by the key players in the market. For instance, in November 2020, Virbac, Pharmaceutical Company and QBiotics Group Limited, life sciences company collaborated to accelerate launch and sale of the innovative product STELFONTA (tigilanol tiglate injection) 1mg/mL.
Among animal type, the companion animal segment is expected to hold major revenue share in 2026, owing to increasing R&D activities and manufacturing facility based on veterinary oncology for companion animals. For instance, in April 2018, Zoetis, Inc., Pharmaceutical Company established its animal vaccine research and manufacturing facility in Suzhou, China, which is focused on development and production of quality vaccines for companion animals.
Asia Pacific is expected to witness a rapid growth in the global veterinary oncology market during the forecast period, owing to the presence of various veterinary foundations focusing on veterinary cancer research. For instance, The Australian Animal Cancer Foundation, Australia supports scientific research on veterinary cancer and seeks funds from government and private organizations. The foundation also supports Australian Comparative Oncology Consortium, consisting of Australian veterinary oncology specialists who collaborate to develop novel therapies.
Key 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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Detailed 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
France
Spain
Russia
Rest of Europe

Asia Pacific

By Country:

China
India
Japan
ASEAN
Australia
South Korea
Rest of Asia Pacific

o Latin America

By Country:

Brazil
Mexico
Argentina
Rest of Latin America

Middle East & Africa

By Country:

GCC Countries
Israel
South Africa
Rest of Middle East & Africa

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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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