Portland, OR, October 26, 2021 (GLOBE NEWSWIRE) – According to the report released by Allied Market Research, the global Veterinary Oncology market was $ 297.30 million in 2020 and will reach $ 819.84 million by 2030 -Dollars estimated, growing by a CAGR of 10.8% from 2021 to 2030.
The rise in animal cancer prevalence, the increase in R&D activity for veterinary cancer therapy, the growth in veterinary health care spending, and the development of pet insurance are driving the growth of the global veterinary oncology market. However, high costs of therapies to treat veterinary oncology are hampering market growth. On the contrary, it is expected that the increasing number of veterinary studies will open up new opportunities for market participants in the future.
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Effects of Covid-19 on the Veterinary Oncology Market –
- The Covid-19 pandemic had a negative impact on the market due to the enormous burden on health systems around the world and the increasing need to develop diagnostic tools and treatment centers for humans.
- However, during the pandemic, the demand for pets as a society increased, which had a positive impact on the market.
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The report divides the global Veterinary Oncology Market by Therapy, Animal, Cancer, and Region.
In terms of therapy, the chemotherapy segment had the largest share in 2020 with more than a quarter of the market. In addition, the segment is expected to have the highest CAGR of 11.5% over the forecast period. The report includes an analysis of such segments as surgery, radiology, and others.
Based on animals, the dog segment held the lion’s share in 2020 and contributed nearly three-fifths of the market. However, it is estimated that from 2021 to 2030 the segment will represent the highest CAGR of 11.1%. The report includes an analysis of the cat segment.
The report provides an analysis of the global Veterinary Oncology market across multiple regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2020, accounting for more than two-fifths of the market. However, the Asia-Pacific market is expected to have the highest CAGR of 11.9% over the forecast period.
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Global Veterinary Oncology market report includes an in-depth analysis of key players in the market such as Accuray Incorporated, Elanco, Boehringer Ingelheim International GmbH, Morphogenesis, Inc., Karyopharm Therapeutics, Inc., PetCure Oncology, Nippon Zenyaku Kogyo Co., Varian Medical System, Inc., Regeneus Ltd. and Zoetis.
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Allied Market Research (AMR) is a full-service market research and management consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides unmatched quality of “Market Research Reports” and “Business Intelligence Solutions” to global corporations as well as medium and small businesses. AMR provides focused business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services in 11 industries including Life Sciences, Consumer Goods, Materials and Chemicals, Construction and Manufacturing, Food and Beverage, Energy and Energy, Semiconductors and Electronics, Automotive and Transportation, ICT and Media, Aerospace and Defense, and BFSI .
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