The global pet cancer therapeutics market reached a value of US$ 245.2 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 435.2 Million by 2027, exhibiting a CAGR of 10.1% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Pet cancer therapeutics refer to the diagnosis and treatment alternatives for cancerous and tumor growth in domesticated animals. It involves the treatment of lymphoma, mast cell cancer, melanoma and mammary and squamous cell cancer in dogs, cats and other pet animals. Some of the commonly used therapeutics include chemotherapy, immunotherapy, radiation therapy and biopsy. These therapies gradually neutralize or shrink the cancer cells using plant- and bacteria-based drugs and prevent the tumor from affecting the other parts of the body. The drugs are administered orally or injected intravenously, under the skin or into a muscle or the tumor. They are mixed with the food or treats to mask the flavor and make it more appealing for the pets.
Pet Cancer Therapeutics Market Trends:
- The increasing prevalence of cancer in animals across the globe is one of the key factors driving the growth of the market. Moreover, the rising domestication of animals and increasing concerns regarding pet health among the masses are providing a thrust to the market growth. Leukemia and lymphoma are highly common in cats and certain breeds of aging dogs and can be caused by prolonged exposure to ultraviolet (UV) rays, second-hand tobacco smoke, herbicides, pesticides, insecticides and air pollution. In line with this, the increasing awareness regarding the benefits of timely diagnosis and available treatment alternatives is contributing to the growth of the market. Various technological advancements, such as the development of highly targeted and specific therapies for animal cancer treatment with minimal side effects, are also favoring the market growth. Other factors, including rising expenditure capacities of the consumers on pet healthcare, along with extensive research and development (R&D) activities in the field of veterinary oncology, are anticipated to drive the market toward growth.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global pet cancer therapeutics market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on therapy, animal species, cancer type and end user.
Breakup by Therapy:
- Radiation Therapy
- Combination Therapy
Breakup by Animal Species:
Breakup by Cancer Type:
- Mast Cell Cancer
- Mammary and Squamous Cell Cancer
Breakup by End User:
- Veterinary Hospitals and Clinical Pharmacies
- Retail Pharmacies
- Online Pharmacies
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- The competitive landscape of the industry has also been examined along with the profiles of the key players being AB Science, Boehringer Ingelheim International GmbH, Elanco Animal Health Incorporated, ELIAS Animal Health LLC, Karyopharm Therapeutics, Pfizer Inc., Regeneus Ltd., Rhizen Pharmaceuticals AG, Torigen Pharmaceuticals Inc., VetDC Inc., Virbac and Zoetis Inc.
Key Questions Answered in This Report:
- How has the global pet cancer therapeutics market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global pet cancer therapeutics market?
- What are the key regional markets?
- What is the breakup of the market based on the therapy?
- What is the breakup of the market based on the animal species?
- What is the breakup of the market based on the cancer type?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global pet cancer therapeutics market and who are the key players?
- What is the degree of competition in the industry?