Pet Cancer Therapeutics Market Size, Share and Global Trend By Therapy (Chemotherapy, Radiation Therapy, Immunotherapy), By Animal Type (Canine, Feline, Equine), By Cancer Type (Mast Cell Cancer, Lymphoma, Melanoma), By Distribution Channel (Veterinary Hospitals & Clinical Pharmacies, Online Pharmacies, Retail Pharmacies), and Regional Forecast, 2024-2032

Cancer in pets is one of the major causes of death in pets globally. Cancer is defined as the uncontrolled growth of abnormal cells in some part of the body and occurs across humans and animals. Pets, these days have better chances of being diagnosed with cancer and thus, leading to early adoption of treatment plans, and improved chances of survival. Pets are first diagnosed with neoplasia, which too refers to the uncontrolled growth of tissues or cells known as neoplasm and then leading to cancer. According to The Veterinary Cancer Society, cancer is the leading cause of death in 47% of dogs, especially dogs over age ten, and 32% of cats every year.

Increasing prevalence of pet cancer, increasing incidence of tumors or neoplasia in pets, and an increase in pet ownership are some of the factors driving the growth of the global pet care therapeutics market. Additionally, advances in diagnostic procedures, easy accessibility, and affordability of treatment, increasing awareness of animal health and welfare and increasing animal adoption are some of the factors driving the growth of the global pet care therapeutics market. According to Animal Cancer Foundation, there are 65 million dogs and 35 million cats in the U.S., out of which every year, there are 6 million new cancer diagnosed in these pets. These trends combined with the other factors are expected to positively drive the growth of the pet care therapeutics market.

However, increasing animal healthcare costs, lack of diagnosis of cancer in pets and the associated side effects of treatment options are some of the factors restraining the growth of the global pet care therapeutics market.

Key Players Covered

Some of the major companies that are present in the global pet cancer therapeutics market are Boehringer Ingelheim International GmbH, ELIAS Animal Health, Karyopharm Therapeutics, Aratana Therapeutics, Inc., Regeneus Ltd, VetDC and Zoetis Services LLC., and others.

SEGMENTATION

In 2018, among cancer type, mast cell cancer dominated the global pet cancer therapeutics market due to increased prevalence of the mast cell cancer and availability of drugs for its treatment. This segment is projected to grow at comparatively lower CAGR during the forecast period.

Key Insights

• Prevalence of Pet Cancer, By Key Regions
• Overview of Pet Ownership Rates by Key Countries
• Pipeline Analysis, Key Players
• Recent Industry Developments Such as Partnerships, Mergers, and Acquisitions

Regional Analysis:

North America dominated the global pet cancer therapeutics market in 2018, owing to a number of factors such as the rising rate pet adoption, increasing prevalence of pet cancer, advancements in diagnostic procedures, increasing expenditure on animal health, and increasing animal health awareness. Asia Pacific is anticipated to grow at a significant CAGR during the forecast period. This is due to increasing pet animal pool, increasing incidence of pet cancer, increasing pet adoption rates, increasing awareness of animal welfare, rising disposable incomes and introduction of new pet cancer therapeutics.

Key Industry Developments

• In March 2019, Pfizer Inc., received FDA approval for the Palladia, the first drug officially approved for use in treating dog cancer. This drug will be available in the market by the end of 2020.
• In October 2017, VETCO, launched animal cancer treatment novel drug Antican in Taiwan. Antican, the animal cancer treatment novel drug, has been approved by the COA, the Taiwanese Council of Agriculture and, is the 3rd approved anticancer drug in global and 1st in Asia.