Pet Cancer Therapeutics Market size to exceed $359.4 Mn by 2025
Published Date: March 8, 2019 Authors: Sumant Ugalmugle, Ajay Devgire
Pet Cancer Therapeutics Market size is set to exceed USD 359.4 million by 2025; according to a new research report by Global Market Insights.
Growing pet adoption rate coupled with increasing disposable income of pet owners will drive pet cancer therapeutics market growth. Strong and robust drug pipeline for treatment of pet cancer will stimulate business growth over the forecast years.
Rising number of pet dogs suffering from cancer will spur orthopedic implants and devices demand. According to American Veterinary Cancer Society, nearly 50% of dogs over the age of 10 have cancer and die of it. The need to control cancer in pets and pet owners will to save their pet from cancer is a major reason behind development in cancer therapeutics.
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However, high cost of pet cancer drugs along with rising instances of adverse drug events should hamper industry growth over the forecast years. Lack of awareness regarding pet diseases among the pet owners will impede industry expansion.
Chemotherapy has been the mainstream medication for pet cancers till recent times. However, immunological vaccines entered the market and are gaining significant market share. With number of chemotherapy drugs in pipeline, the industry should witness considerable growth over the coming years.
Dogs are more prone to develop cancer than cats and the healthy pipeline will drive segment growth over the forecast years. However, introduction of specialized cat cancer medicines will stimulate the cat cancer therapeutics market growth.
Pet healthcare companies are focusing on development of drugs for mast cell cancer and melanoma among other cancer types. This trend will witness change as medicines to treat lymphoma and mammary cell cancer are in the pipeline. Innovative medicines for treatment of multiple cancer tumors is anticipated to accelerate business growth.
Browse key industry insights spread across 120 pages with 141 market data tables & 8 figures & charts from the report, “Pet Cancer Therapeutics Market Size By Medicine Type (Chemotherapy Drugs, Vaccines), By Species (Dogs, Cats), By Cancer Type (Lymphoma, Mast Cell Cancer, Melanoma, Mammary and Squamous Cell Cancer), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Japan, China, India, Australia, Brazil, Mexico), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents:
U.S. market is expected to reach USD 281.2 million by 2025. Presence of large number of pet drug manufacturing companies, quick adoption of innovative pet care medicines and increasing disposable income of pet owners will boost industry growth.
Australia market is forecasted to grow at 12.6% CAGR across the forecast timeframe. High growth is due to growing pet-keeping trend, availability of innovative pet care medicines and increasing disposable income of pet owners.
Some of the leading industry players include Zoetis, Merial, Aratana Therapeutics, AB Science, Vetivax, Oasmia Pharmaceutical, VetDC, Regeneus, CanFel Therapeutics, Karyopharms Verdinexor. The most commonly adopted business strategies by industry participants includes new product launches, regional expansion and mergers and acquisition.
Pet cancer therapeutics market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2014 to 2025, for the following segments:
Pet Cancer Therapeutics Market by Medicine Type
- Chemotherapy drugs
Pet Cancer Therapeutics Market by Species
Pet Cancer Therapeutics Market by Cancer Type
- Mast cell cancer
- Mammary and Squamous cell cancer
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America