Pet Cancer Therapeutics Market Size
Driven by growing pet parents' willingness to spend on their pets' healthcare, Pet Cancer Therapeutics Market size registered a valuation of over USD 369 billion in 2022 and is expected to show more than 10% CAGR from 2023 to 2032.
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The industry's needs are mostly driven by an increasing count of pet cancer cases. The rise in canine and feline cancer is ready to propel the demand for efficient pet cancer treatments to control cancer diseases, therefore influencing the company growth. The Merck Veterinary Manual claims that in companion animals, genetic elements can help cancer to grow. Positive initiatives to enhance canine treatments including government support have also changed the sector's perspective.
Moreover, great knowledge among pet owners about pet ailments is projected to boost sector growth. The demand for therapies is rising as knowledge about pet cancer and commercially available treatments grows, hence extending the use of these items. Pet owners' awareness of different diseases has been much raised by the use of cellphones and the information available online.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Pet Cancer Therapeutics Market Size in 2022 | USD 369 Million |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 10% |
| 2032 Value Projection | USD 1 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 140 |
| Tables, Charts & Figures | 241 |
| Segments covered | Therapy, Route of Administration, Species, Application, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
Side effects associated with pet cancer therapies may restrain industry progression
One of the main reasons pet cancer medicines' market share is being limited is negative consequences from them. Chemotherapy in dogs and cats results in low white blood cell count, vomiting, dehydration, diarrhea, lethargy, and bladder irritation, much as in humans. The FDA cautioned pet owners in September 2022 about a possible harm to dogs with skin cancer crème fluorouracil or 5-FU resulting from consistent fatalities of canines. Still, new developments in pet cancer treatment might help the market scene.
Pet Cancer Therapeutics Market Analysis
Learn more about the key segments shaping this market
By 2032 the market for pet cancer treatments from the chemotherapy sector is expected to be valued more than USD 628 million. Especially for companion animals, chemotherapy is the most often used treatment for lymphoma malignancy. One of the most often diagnosed diseases in dogs, canine lymphoma accounted for roughly 24% of all new instances of canine cancer in 2019, per a report by the Flint Animal Cancer Center.
Applied in terms of mast cell cancer, the pet cancer therapies market is expected to see about 8.5% CAGR over 2023–2032. Particularly in dogs, the frequency of particular malignancies impacting the gastrointestinal system, bone marrow, liver, and spleen is driving more demand for cancer treatments in this tumor type. Salivary miR-21 has promise in identifying the MCT-affected salivary gland in dogs acting as a biomarketer for the therapy of mast cell tumors, according to a 2022 research paper.
By 2032, the oral method of administration sector of the pet cancer therapies market is expected to be valued more than USD 359 million. Notable advancements in oral medications brought about by their clinical advantages—such as the simplicity and comfort of home therapy and less clinic visits—are supporting segment development. Recently, in May 2022, the FDA approved Laverdia-CA1, sometimes known as Verdinexor tablets, the first chemotherapy pills for dogs with lymphoma on conditional basis. For chemotherapeutic treatments, these drugs can cause death and enhance the antiproliferation of cancer cells.
With nearly $352 million, dogs will have the largest market for pet cancer therapies in 2022. This is so because, particularly with regard to cats, more dogs are developing cancer. Furthermore, it's not only because of more pets; inbreeding and non-purebred dogs are more prone to develop tumors and lymphoma. Improved treatment and medication help dogs live longer these days as well. This indicates, however, that as they age, they are also more likely to develop cancer. Therefore, another factor driving the growth in cancer cases is the growing population of elderly dogs.
Learn more about the key segments shaping this market
By 2032, the market for cancer therapies for North American dogs is projected to reach around $774 million. Several elements are driving its expansion, among which are Pet owners are spending more money on their animals' health, which is driving demand for fresh and improved cancer therapies. Rising number of pet cancer casesOne of the main causes of death in pets, cancer is causing growing numbers of cases. Government assistance of pet cancer researchThis is fostering innovation in this field by means of funding for research into fresh pet cancer treatments. Petco Love and Blue Buffalo just made a $1 million commitment, one instance of their support. At twelve university veterinary partners, this financing is supporting research aimed at developing new and better therapies for pet cancer.
Pet Cancer Therapeutics Market Share
Some of the key players in the pet cancer therapeutics market are
- Zoetis Inc.
- Merial Inc.
- Elanco Animal Health
- Anivive Lifesciences
- Qbiotics
- AB Science
- NovaVive
- ELIAS Animal Health
These companies are running fresh R&D initiatives for new products in order to get a competitive edge inside the company. For example, in June 2022, producer of small molecule-based treatments for aging-related and degenerative disorders, CarthroniX, along with biopharmaceutical company Boehringer Ingelheim, announced a research cooperation to produce small molecule therapeutics in canine oncology. This invention will probably help the business to grow the Animal Health section of Boehringer Ingelheim and offer a creative way of treating canine cancer.
Impact of the COVID-19 pandemic
The pet cancer therapeutics industry witnessed slightly slow growth during the COVID-19 pandemic as a result of disruptions in the healthcare system for animals. As per the Global Animal Health Association 2020 report, pet owners in a study reported delayed or missed care for pets in many countries which impeded veterinary services. Meanwhile, pet owners embraced pet pharmaceuticals to ensure the health of their animals, which supported the demand for pet medicines to protect animals from chronic illnesses. Seamless services from numerous animal welfare organizations benefitted the animal healthcare system and further boosted pet care therapeutics.
The pet cancer therapeutics market report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2018 to 2032 for the following segments
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By Therapy
- Chemotherapy
- Immunotherapy
- Targeted Therapy
- Combination Therapy
By Route of Administration,
- Oral
- Injection
By Species
- Dogs
- Cats
By Application
- Lymphoma
- Mast Cell Cancer
- Melanoma
- Mammary and Squamous Cell Cancer
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Sweden
- Switzerland
- The Netherlands
- Austria
- Poland
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Philippines
- New Zealand
- Latin America
- Brazil
- Mexico
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