Veterinary Oncology Market is Expected to Garner USD 819.84 Million by 2030, Claims AMR

The global veterinary oncology market was valued at $0.297 billion in 2020, and is estimated to reach $0.819 billion by 2030, growing at a CAGR of 10.8% from 2021 to 2030.

• CAGR: 10.8%
• Current Market Size: USD 0.297 Billion
• Forecast Growing Region: APAC
• Largest Market: North America
• Projection Time: 2021- 2030
• Base Year: 2021

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Rise in prevalence of cancer in animals, surge in R&D activities for veterinary cancer therapy, growth in veterinary healthcare expenditure, and development in pet insurance policy drive the growth of the global veterinary oncology market. However, high cost of therapies for the treatment of veterinary oncology hinders the market growth. On the contrary, surge in number of veterinary clinical trial studies is expected to open new opportunities for the market players in the future.

Impact of Covid-19 on Veterinary Oncology Market-

The Covid-19 pandemic had a negative impact on the market due to tremendous stress on the healthcare system across the world and rise in need for development of diagnostic instruments & treatment centers for humans.
However, there has been rise in demand for pets for companionship during the pandemic, which positively affected the market.
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The report divides the global veterinary oncology market on the basis of therapy, animal, cancer, and region.

Based on therapy, the chemotherapy segment held the largest share in 2020, accounting for more than one-fourth of the market. Moreover, the segment is projected to manifest the highest CAGR of 11.5% during the forecast period. The report includes an analysis of segments such as surgery, radiology, and others.

On the basis of animal, the canine segment held the lion’s share in 2020, contributing to nearly three-fifths of the market. However, the segment is estimated to portray the highest CAGR of 11.1% from 2021 to 2030. The report includes analysis of the feline segment.

The report offers an analysis of the global veterinary oncology market across several 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 market across Asia-Pacific is anticipated to showcase the highest CAGR of 11.9% during the forecast period.

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Key Benefits For Stakeholders

• The study provides an in-depth analysis of the veterinary oncology market, and the current trends & future estimations to elucidate imminent investment pockets.
• It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing veterinary oncology market opportunities.
• Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
• Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the veterinary oncology market.

Key Findings Of The Study

• By therapy, the chemotherapy segment was the highest contributor to the market in 2020.
• On the basis of animal type, the canine segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
• Depending on cancer, the lymphoma segment was the highest contributor to the market in 2020.
• Region wise, North America garnered the largest revenue share in 2020, however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲-

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