Pet Cancer Therapeutics Market Size 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), COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Competitive Market Share & Forecast, 2021 – 2027

Industry Trends

Pet Cancer Therapeutics Market size exceeded USD 220 million in 2020 and is anticipated to grow at a CAGR of over 10.1% between 2021 and 2027. The growing incidence of pet cancers such as lymphoma, mast cell cancer, melanoma, and sarcoma among others are the major impact rendering factors, driving stimulating the market growth positively. The rising awareness among pet owners is estimated to facilitate the adoption of pet cancer therapeutics, thereby boosting the market expansion.
 

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However, several complications associated with the use of pet cancer therapeutics may negatively affect the industry growth. Some pets undergoing chemotherapy showcase gastrointestinal side effects including diarrhoea, vomiting, and decreased appetite. Chemotherapy medications have a direct stimulatory effect on the CNS vomiting center that causes these side effects. Such side effects may limit the adoption of pet cancer therapeutics in the market. Moreover, the U.S. FDA & the USDA regulates the development, approval, and post-approval surveillance associated with therapeutics including pet cancer therapeutics. Owing to complications, and side effects associated with these therapeutics, these medications are required to undergo stringent regulatory processes.
 

The COVID-19 pandemic has emerged as an unprecedented humanitarian crisis affecting the industrial sectors and inflicting financial adversities on the global economy. The pandemic affected humans as well as pets. The diversion of the medical field towards managing COVID-19 reduced the human and financial resources associated with the research & development activities concerning pet therapeutics. The national emergencies and lockdowns hampered the veterinary practices, further limiting the diagnostic and therapeutic services for pet cancer. Although, the pet cancer therapeutics business witnessed a slightly slowed growth positively and is projected to follow the growth trajectory in the long-term scenario.
 

The impact of COVID-19 peaked during the first half of 2020 wherein, the pet owners opted for pet therapeutics for ensuring the well-being of their pets. Several animal welfare organizations collaborated to ensure seamless operations. The coronavirus outbreak pandemic has created near-term uncertainty for demand associated with prescribed animal care products. However, the collaborated efforts of public organizations and increased acceptance of veterinary health products to ensure pet health is set to positively impact the pet cancer therapeutics market size during the forecast period.
 

Rising prevalence of pet cancer to amplify the market progression

The increasing prevalence of cancer among pets is expected to augment the need for pet cancer therapeutics. The American Veterinary Medical Association (AVMA) reports that dogs have the same chance of getting diagnosed with cancer as humans. Cancer is primarily observed in aging animals, with certain breeds possessing higher susceptibility than other breeds. In addition, the estimates project that the prevalence of cancer among pets is poised to remain high in the coming years.

The increasing prevalence of cancer and the development of advanced diagnostics that aid in the rapid detection of cancer among pets is further slated to benefit the market demand. In addition to these, factors such as growing awareness among the pet owners regarding pet health and a substantial increase in R&D activities concerning pet cancer to propel the pet cancer therapeutics market revenue during the forecast period.

Growing use of chemotherapy in pet cancer treatment will accelerate the market value

The chemotherapy segment in the pet cancer therapeutics market valued at USD 137 million in 2020 led by the higher preference for chemotherapy and recent advancements fostering the success rate. Chemotherapy is used as a primary line of therapeutics for certain pet cancers. Chemotherapy is majorly used to shrink large tumors prior to surgery or to aid in the reduction of microscopic cancer cells. Treatment success rate of chemotherapy in dogs suffering from Lymphoma is approximately 8%. Chemotherapy also provides more survival time and prolongs the pet’s life by up to 24 months.
 

Numerous advantages offered by the oral route of administration to spur the segment growth

The oral segment accounted for 36% of the pet cancer therapeutics market share in 2020 impelled by the numerous advantages offered by the oral route of administration. The major advantage of oral medications in pet cancer treatment is the convenience of treatment at home and reduced visits to veterinary clinics. Oral medications also provide a non-invasive approach as compared to the intravenous route. Additionally, the introduction of therapies positioned against certain molecular targets has promoted the use of oral medications in the management and treatment of pet cancer.
 

Rising prevalence of canine cancer and a strong product pipeline will fuel the industry progression

The pet cancer therapeutics market for dogs segment dominated more than 95% of revenue share in 2020 due to the growing prevalence of cancer among dogs and presence of a strong product pipeline to treat canine cancer. According to the FETCH a Cure estimates, the prevalence of cancer among dogs aged 10 years & above is high, and around one-third of all tumors in dogs are skin tumors.
 

The American Veterinary Medical Association estimates that around 1 in 4 dogs, at some stage in their life to develop neoplasia. These estimates highlight the rising need for canine cancer medications that is predicted to promote the demand for pet cancer therapeutics. Owing to rising prevalence of cancer in dogs, several pharmaceutical companies have been investing in R&D activities for the development of novel pet cancer therapeutics.
 

Increasing prevalence of mast cell tumours to surge the demand for pet cancer therapeutics

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The mast cell cancer segment in the pet cancer therapeutics market is expected to reach USD 136 million by 2027 on account of the growing prevalence of mast cell tumours, especially among dogs. Mast cell tumor (MCT) is a blood cell cancer that affects several areas including the liver, spleen, gastrointestinal tract, and bone marrow. Certain dog breeds such as Boston Terriers, Pugs, Bulldogs, and Boxers among others, are increasingly susceptible to mast cell tumour.
 

High expenditure on veterinary health and government initiatives in North America region will facilitate the regional growth

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U.S. dominated the North American pet cancer therapeutics market with a significant revenue share in 2020 and is projected to cross USD 321 million by 2027. This significant industry demand is attributable to several factors such as high expenditure on veterinary health, rise in the incidence of pet cancer, and government initiatives to promote pet cancer research across the country. The rising pet care expenditure is slated to drive the industry value. Moreover, the rising incidence of pet cancer in the U.S. has promoted the pet insurance business.
 

Strategies adopted by prominent players to spur the industry revenue

Some of the prominent companies operating in the pet cancer therapeutics market are Zoetis Inc., Elanco Animal Health, Merial Inc., Anivive Lifesciences, AB Science, Qbiotics, NovaVive, and ELIAS Animal Health. These major leaders concentrate on strategic formulations such as research collaborations, new product development & commercialization, and vertical integration among others for business expansion. Furthermore, these leaders invest in research and development activities that enables them to launch innovative products and capitalize majority market share.
 

Pet cancer therapeutics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027, for the following segments:

Market, By Therapy, 2016 - 2027 (USD Million)

• Chemotherapy
• Immunotherapy
• Targeted Therapy
• Combination Therapy

Market, By Route of Administration, 2016 - 2027 (USD Million)

• Oral
• Injection

Market, By Species, 2016 - 2027 (USD Million)

• Dogs
• Cats

Market, By Application, 2016 - 2027 (USD Million)

• 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
• Asia Pacific
  • China
  • India
  • Japan
  • Australia 
• Latin America
  • Brazil
  • Mexico