Global Canine Cancer Screening Market Is Projected to Grow Steadily from USD 1,397.0 Million in 2024 To USD 2,087.9 Million by 2034 | Future Market Insights, Inc.
NEWARK, Del, Sept. 17, 2024 (GLOBE NEWSWIRE) -- As per Future Market Insights’ latest industry analysis, the global canine cancer market was valued at around USD 1,342.0 million in 2023 and is anticipated to exhibit a CAGR of 4.1% over the forecast period (2024 to 2034).
Pet owners in mature economies seek protection against the escalating veterinary treatment costs by applying for a pet insurance policy. In countries such as Sweden and the U.K., the penetration rate is usually very high, usually at a rate that covers significant numbers of pets under insurance plans. In the United States and Canada, although the penetration rate is lower compared to some European countries, the trend of its growth is progressive and fueled by increased awareness of the benefits that come with pet insurance, coupled with humanization.
Routine visits to the veterinarian, therefore, are many times fully covered by most of the insurance plans available to a great majority of pet owners living in these matured economies, along with emergency care, surgeries, and sophisticated diagnostics.
It makes the pet owners more proactive toward health problems for their pets. Regular checkups and the early detection of possible health issues become common practice; this increases the demand for canine cancer screening tools that would be applied during routine visits for early stage condition detection. This has also fueled demand in the veterinary diagnostics market especially on POC diagnostic tools. It is this demand that fuels manufacturers to innovate more sophisticated, portable, and user-friendly diagnostic devices to be used directly in the veterinary clinic or even in the field.
Understanding the Global Canine Cancer Screening Market:
As more pet owners prioritize preventive healthcare for their pets, the demand for advanced cancer screening tests is set to rise. With the development of innovative diagnostic tools, veterinarians are now equipped with more accurate and non-invasive methods to detect cancer at early stages, significantly improving the survival rate of affected dogs.
The North American region is expected to dominate the market, largely due to a high pet ownership rate, awareness of canine health issues, and the presence of advanced veterinary care facilities. Europe and Asia-Pacific are also projected to witness substantial growth, driven by an increasing focus on pet welfare and rising disposable income.
Global Canine Cancer Screening Market: Report Scope Country-wise Insights
| Countries | CAGR 2024 to 2034 | |
| USA | 3.6% | |
| Germany | 4.0% | |
| China | 4.1% | |
| France | 3.6% | |
| India | 3.4% | |
| Spain | 4.2% | |
| UK | 4.4% | |
| South Korea | 2.5% | |
Key Takeaways from the Market Study
- By test, the liquid biopsy (blood-based tests) holds a lucrative market share value of 36.7%. Liquid biopsy, especially blood-based tests, has gained the highest share by test type in the canine cancer screening market owing to a number of advantages over other conventional methods of diagnosis. These diagnostic tests are non-invasive, hence requiring only a blood sample, thereby decreasing stress and discomfort for the animal.
- By technology, the next generation sequencing holds a 27.4% market value share in 2024. Therefore, NGS has emerged as the dominant technology in the canine cancer therapeutics market, which has fundamentally altered the way in which cancer is diagnosed and treated in dogs. NGS gives full genomic detail, allowing the identification of the exact genetic mutation or changes that may underlie cancer in dogs.
UK emerges as the primary region, with an expected CAGR of 4.4% from 2024 to 2034, The highly developed veterinary healthcare infrastructure in the country, with a subsequent network of state-of-the-art veterinary clinics and diagnostic laboratories, is notably responsible for this. The facilities are fully equipped with state-of-the-art technologies such as next-generation sequencing and liquid biopsy critical to the next generation, early detection, and diagnosis of cancer cases in canines.
“The growing awareness among pet owners about the importance of regular health check-ups and early cancer detection is also propelling market growth.” Says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Market Competition
Many companies strategize to capture competitors or other companies that generate less revenue. Market players are spending high amounts on research and development for new products to expand their market share. For instance,
- In December 2023, Salarius Pharmaceuticals, Inca clinical-stage biopharmaceutical company and VolitionRx Limited a multinational epigenetics company, announced the signing of a research and development collaboration to advance rapid epigenetic profiling using Volition’s Nu.Q® technology.
- In June 2022, PetDx® an liquid Biopsy company for Pets™ and Antech® Diagnostics jointly announced that they have collaborated to make OncoK9®, the pioneering multi-cancer early detection (MCED) test for dogs, available to all Antech customers across North America.
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Drivers and Opportunities
The primary drivers of the Canine Cancer Screening Market include the rising incidence of cancer in dogs, estimated to affect nearly 1 in 4 canines. With increasing pet ownership and the humanization of pets, pet parents are investing in diagnostic services that provide early detection of life-threatening conditions such as cancer.
Technological advancements in diagnostic tools, such as blood-based tests and DNA/RNA-based diagnostics, are creating new opportunities for market growth. Additionally, government initiatives focused on animal health and increasing awareness about cancer screening in pets are key factors propelling market expansion.
Component Insights
The Canine Cancer Screening Market is composed of various diagnostic components, including blood-based cancer tests, DNA and RNA-based tests, imaging technologies (such as X-rays, ultrasounds, and MRIs), and biopsy kits. Among these, blood-based tests are expected to dominate due to their non-invasive nature, high accuracy, and ability to detect multiple cancer types
Market's Prime Determinants of Growth, Trends, and Opportunities
- Prevalence of Cancer in Dogs: Rising cancer cases in dogs are driving demand for early detection and screening services.
- Technological Innovation: Advancements in molecular diagnostics and the introduction of blood-based cancer screening tests are significant trends shaping the market.
- Growing Awareness: Increased awareness among pet owners about canine health and the importance of early cancer detection presents growth opportunities.
- Investment in Veterinary Infrastructure: Expansion of veterinary hospitals and clinics globally, especially in developing regions, supports market growth.
Key Companies & Market Share Insights
The Canine Cancer Screening Market is dominated by key players such as IDEXX Laboratories, Zoetis Inc., Antech Diagnostics, and others. These companies are investing heavily in research and development to enhance their product offerings and expand their market presence. Strategic collaborations with veterinary hospitals and clinics are also helping to strengthen their market share.
Growth Drivers
- Rising Pet Healthcare Expenditure: Increasing disposable incomes and higher spending on pet healthcare services are driving the demand for canine cancer screening solutions.
- Technological Advancements in Diagnostics: Continuous innovations in cancer diagnostics are enabling more precise and non-invasive screening options.
- Increasing Pet Ownership and Awareness: The rise in pet ownership globally, coupled with the growing human-animal bond, is leading to a higher focus on preventive veterinary care, including cancer screening.
Competitive Landscape
Key players in the canine cancer screening market are focusing on several strategic approaches to maintain a competitive edge. These include differentiating their products through innovative technologies, such as advanced screening techniques, and forming partnerships with healthcare providers to ensure wider distribution. Additionally, many companies are actively seeking strategic alliances to enhance their product portfolios and strengthen their presence in international markets.
Recent Industry Developments in Canine Cancer Screening Market:
- December 2023: PetDx® announced the release of a study showcasing its OncoK9® technology, which is now capable of detecting cancer recurrence in cell-free DNA in dogs, marking a significant advancement in genomic cancer screening for pets.
- September 2022: Zoetis Inc. completed the acquisition of Jurox, a veterinary medicine company that produces treatments for both livestock and companion animals, further expanding its product offerings in the animal health sector.
- January 2022: PetDx®, known for its liquid biopsy technology for pets, entered a collaboration with IDEXX Laboratories, Inc., a move aimed at significantly broadening access to liquid biopsy testing for canine cancer.
Key Players of Canine Cancer Screening Market:
- IDEXX
- Mars Pedtcare
- Zoetis
- PetDx
- Molecular Diagnostics (MDxHealth)
- Biomérieux SA
- OncoK9
- Antech Diagnostics
- VolitionRx Limited
- Oncotect
- Heska Corporation
Key Segments of the Canine Cancer Screening Market:
By Test Type:
In terms of test type, the industry is segregated into liquid biopsy (blood-based tests), tissue biopsy, genomic testing and biomarker tests.
By Technology:
In terms of technology, the industry is segregated into next-generation sequencing (NGS), polymerase chain reaction (PCR), immunohistochemistry (IHC), flow cytometry and in situ hybridization.
By Cancer:
In terms of cancer, the industry is segregated into lymphoma, mast cell tumors, osteosarcoma and hemangiosarcoma.
By End User:
In terms of end user, the industry is segregated into veterinary clinics, veterinary hospitals, diagnostic laboratories, academic & research institutes, pet owners (home-based testing kits).
By Region:
Key countries of North America, Latin America, Western Europe, Eastern, South Asia, East Asia and Middle East and Africa (MEA) have been covered in the report.
German Translation-
Die weltweite Nachfrage nach Absperrklappen wird voraussichtlich deutlich wachsen. Bis 2033 wird ein Marktvolumen von 19,4 Milliarden USD prognostiziert. Dieses Wachstum, das von 10,3 Milliarden USD im Jahr 2023 ausgeht, entspricht einer robusten durchschnittlichen jährlichen Wachstumsrate (CAGR) von 6,5 % im Prognosezeitraum. Die steigende Nachfrage nach kompakten, leichten und effizienten Durchflussregelungslösungen in verschiedenen Branchen ist ein Schlüsselfaktor für dieses Marktwachstum.
Absperrklappen werden aufgrund ihrer Konstruktion, die sich besonders gut für automatische Ein-/Aus-Anwendungen eignet, zunehmend anderen Regelventiltypen vorgezogen. Aufgrund ihrer geringeren Größe und Leichtbauweise eignen sie sich ideal für eine Vielzahl von Anwendungen, von Öl- und Gaspipelines bis hin zu Wasseraufbereitungsanlagen. Trotz ihrer weit verbreiteten Verwendung entscheiden sich Ingenieure jedoch häufig für andere Ventiltypen, wenn sie den Durchfluss in geschlossenen Kreislaufsystemen regeln.
Die Lebensmittel- und Getränkeindustrie trägt maßgeblich zur Nachfrage nach Absperrklappen bei, insbesondere solchen aus Edelstahl und mit hygienischen Merkmalen. Ventile mit elastischen Ventilsitzen erfreuen sich aufgrund ihrer überlegenen Dichtleistung, ihres geringeren Wartungsaufwands und ihrer niedrigeren Anschaffungskosten zunehmender Beliebtheit. Unternehmen wie Valves Online haben innovative Lösungen entwickelt, wie beispielsweise das ummantelte hygienische Absperrventil, das speziell auf die Milchwirtschaft und Süßwarenbranche zugeschnitten ist und den wachsenden Bedarf an branchenspezifischen Anwendungen widerspiegelt.
Technologische Integration und Fortschritte treiben das Wachstum an
Einer der bemerkenswertesten Trends auf dem Markt für Absperrventile ist die Integration von Automatisierung und intelligenten Technologien. Diese Fortschritte verbessern nicht nur die Betriebseffizienz von Absperrventilen, sondern senken auch die Kosten, indem sie Fernüberwachung, -steuerung und vorausschauende Wartung ermöglichen. Die Integration von IoT-Sensoren und digitalen Technologien in Ventilsysteme verbessert deren Leistung und macht sie für kritische Industrieanwendungen unverzichtbar.
Das Wachstum des Marktes wird zusätzlich durch die schnelle Industrialisierung, Urbanisierung und Infrastrukturentwicklung unterstützt, insbesondere in Schwellenländern. In Regionen wie dem asiatisch-pazifischen Raum, wo die industrielle Expansion ihren Höhepunkt erreicht, steigt die Nachfrage nach Absperrventilen. Die Region wird voraussichtlich der größte Markt für Absperrventile sein, wobei Indien und China aufgrund ihrer wachsenden industriellen Basis und zunehmenden Investitionen in Infrastrukturprojekte führend sind.
Author by:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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