Pet Cancer Therapeutics Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030
The Global Pet Cancer Therapeutics Market Size accounted for USD 220 Million in 2021 and is estimated to achieve a market size of USD 525 Million by 2030 growing at a CAGR of 10.4% from 2022 to 2030. One of the primary factors driving the pet cancer therapeutics market growth is the increasing occurrence of cancer in animals around the world. Furthermore, increasing animal domestication and rising public awareness about pet health are propelling the pet cancer therapeutics market value.
Pet Cancer Therapeutics Market Report Key Highlights
- Global pet cancer therapeutics market revenue is expected to increase by USD 525 Million by 2030, with a 10.4% CAGR from 2022 to 2030
- North America region led with more than 72% of pet cancer therapeutics market share in 2021
- Asia-Pacific pet cancer therapeutics market growth will observe strongest CAGR from 2022 to 2030
- By species, the dogs segment has accounted market share of over 88% in 2021
- By medicine type, chemotherapy segment engaged more than 65% of the total market share in 2021
- Growing awareness of pet diseases among pet owners, drives the pet cancer therapeutics market size
The term "pet cancer therapy" refers to the identification and treatment of malignant and tumor growth in domesticated animals. It comprises the treatments of lymphoma, melanoma, and mast cell cancer, as well as mammary and squamous cell cancer in dogs, cats, and other companion animals. Chemotherapy, radiation therapy, immunotherapy, and biopsy are some of the most often utilized therapeutics. These therapies use plant- and bacteria-based medications to progressively kill or shrink cancer cells, preventing the tumor from spreading to other parts of the body.
Global Pet Cancer Therapeutics Market Trends
Market Drivers
- Rise in the prevalence of pet cancer
- Growing awareness of pet diseases among pet owners
- Technological advances in pet cancer therapies, such as cancer immunotherapy
- Increasing pet care spending
Market Restraints
- Lack of veterinary oncologists
- Side effects associated with pet cancer therapy
Market Opportunities
- High unmet medical needs and high potential
- Rapid increase in funding for cancer therapy research activities
Pet Cancer Therapeutics Market Report Coverage
| Market | Pet Cancer Therapeutics Market |
| Pet Cancer Therapeutics Market Size 2021 | USD 220 Million |
| Pet Cancer Therapeutics Market Forecast 2030 | USD 525 Million |
| Pet Cancer Therapeutics Market CAGR During 2022 - 2030 | 10.4% |
| Pet Cancer Therapeutics Market Analysis Period | 2018 - 2030 |
| Pet Cancer Therapeutics Market Base Year | 2021 |
| Pet Cancer Therapeutics Market Forecast Data | 2022 - 2030 |
| Segments Covered | By Species, By Medicine Type, By Cancer Type, And By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | Aratana Therapeutics, Elanco Animal Health, Vetivax, Anivive Lifesciences, Regeneus, Qbiotics, Zoetis, VetDC, AB Science, and Merial. |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
The pet cancer therapeutics market is driven by the rapid adoption of innovative pet care medicines. The growing trend of pet adoption such as dogs and cats owing to the enhanced economic status of people will drive the global market. Furthermore, the rising prevalence of pet cancer and growing pet healthcare expenditure will stimulate the growth of the global pet cancer therapeutics market. Growing research and development initiatives by manufacturers to treat pet cancer will result in the launch of novel products in the market over the forecast years. The key players with a strong product portfolio are expected to expand their market share with their innovative treatments. The contrary effects of pet cancer drugs and the lack of awareness about pet diseases among pet owners will restrain the market growth. The cost of pet cancer therapeutics will further hamper pet health in most developing countries across the globe.
Pet Cancer Therapeutics Market Segmentation
The global pet cancer therapeutics market segmentation is based on species, medicine type, cancer type, and geography.
Pet Cancer Therapeutics Market By Species
- Dogs
- Cats
- Others
According to a pet cancer therapeutics industry analysis, the dog cancer therapeutics market in the species segment held the largest revenue in the global market in the upcoming years. The rise in the existence of a high number of marketed drugs and vaccines for cancer treatment in dogs will boost the overall market growth.
Pet Cancer Therapeutics Market By Medicine Type
- Vaccines
- Chemotherapy Drugs
In terms of medicine types, the chemotherapy segment is expected to lead the market. Chemotherapy seems to be the most often used therapy for treating animal cancer and has been demonstrated to achieve remission in more than 70% of instances. More than 95% of dogs with cancer, primarily lymphoma, are expected to be healed completely with an appropriate treatment approach that includes chemotherapy.
Pet Cancer Therapeutics Market By Cancer Type
- Lymphoma
- Melanoma
- Mast Cell Cancer
- Mammary and Squamous Cell Cancer
- Others
According to the pet cancer therapeutics market forecast, the mast cell cancer sub-segment is expected to hold the largest share of the global market in the coming years. Also, the availability of various drugs for mast cell cancer treatment. But, the shifting trend from mast cell cancer to other cancer treatments is expected to grow at a moderate pace during the forecast period.
Pet Cancer Therapeutics Market Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa
- South Africa
- GCC Countries
- Rest of the Middle East & Africa (ME&A)
North America Dominates The Global Pet Cancer Therapeutics Market
The North America region is expected to dominate the global pet cancer therapeutics market owing to the huge presence of key players in the U.S. and the existence of various pet cancer medicines and the rise in healthcare spending on pets. Also, the North America region is expected to grow at a moderate pace owing to the rise in consumption of mast cell cancer applications. These factors are expected to drive the pet cancer therapeutics market in the North America region.
Pet Cancer Therapeutics Market Players
Some of the top pet cancer therapeutics market companies offered in the professional report include Aratana Therapeutics, Elanco Animal Health, Vetivax, Anivive Lifesciences, Regeneus, Qbiotics, Zoetis, VetDC, AB Science, and Merial.
Frequently Asked Questions
What is the size of global pet cancer therapeutics market in 2021?
The estimated value of global pet cancer therapeutics market in 2021 was accounted to be USD 220 Million.
What is the CAGR of global pet cancer therapeutics market during forecast period of 2022 to 2030?
The projected CAGR pet cancer therapeutics market during the analysis period of 2022 to 2030 is 10.4%.
Which are the key players operating in the market?
The prominent players of the global pet cancer therapeutics market are Aratana Therapeutics, Elanco Animal Health, Vetivax, Anivive Lifesciences, Regeneus, Qbiotics, Zoetis, VetDC, AB Science, and Merial.
Which region held the dominating position in the global pet cancer therapeutics market?
North America held the dominating pet cancer therapeutics market during the analysis period of 2022 to 2030.
Which region registered the fastest growing CAGR for the forecast period of 2022 to 2030?
Asia-Pacific region exhibited fastest growing CAGR for pet cancer therapeutics market during the analysis period of 2022 to 2030.
What are the current trends and dynamics in the global pet cancer therapeutics market?
Rise in the prevalence of pet cancer and growing awareness of pet diseases among pet owners drives the growth of global pet cancer therapeutics market.
By Medicine Type segment, which sub-segment held the maximum share?
Based on medicine type, chemotherapy drugs output segment is expected to hold the maximum share of the pet cancer therapeutics market.
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