Pet Cancer Therapeutics Market size is estimated to cross USD 760 million by 2030, according to a new research report by Global Market Insights Inc.
The report identifies recent technological advancements in pet cancer therapeutics as the chief driver of pet cancer therapeutics industry. With the rise in the prevalence of cancer in pets, treatment options are also evolving. Radiation therapy has dramatically increased in sophistication as well as in its effectiveness in curing cancer.
With respect to therapy, the study categorizes the pet cancer therapeutics industry into targeted therapy, chemotherapy, combination therapy, and immunotherapy. The targeted therapy segment held more than 14% share in the pet cancer therapeutics market in 2021 and is projected to reach over USD 119 million by 2030. This growth is attributed to increasing application of targeted therapy and recent innovations. Moreover, R&D capabilities related to targeted therapy in pet oncology are set to drive business growth.
The report further cites heavy demand for injectable drugs to push the industry trends. Injectable drugs aid in overcoming certain complications pertaining to proper dosage administration and patient compliance since they are directly administered into the pet’s body. The pet cancer therapeutics industry size from the injection segment was worth about USD 174 million in 2021 and will depict favorable growth trends until 2030.
Browse key industry insights spread across 145 pages with 183 market data tables & 18 figures & charts from the report, “Pet Cancer Therapeutics Market Analysis 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), Industry Analysis Report, Regional Outlook, Growth Potential, COVID-19 Impact Analysis, Price Trends, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents :
Growing incidences of cancer among cats will remain high in the coming years. In 2021, the pet cancer therapeutics market size from the cats species segment surpassed a valuation of USD 12 million and is anticipated to expand at a rate of approximately 9.9% through the forecast timeframe. Increasing prevalence and surge in the precursors of feline cancer among cats will propel segmental progress.
Soaring deployment of pet cancer therapeutics for treatment of melanoma will push market growth. The melanoma application segment is poised to reach nearly USD 162 million by 2030 owing to rising cases of melanoma among pets, claims the report. As per the National Centers for Biotechnology Information (NCBI), in 2021, canine melanoma was the most common oral malignancy in dogs.
Regionally, Europe will gain considerable traction in the pet cancer therapeutics industry. The Europe market is projected to exhibit steady growth at over 13% through the forecast period driven by notable occurrences of canine cancer and the implementation of supportive policies to improve awareness regarding pet diseases in Europe.
The strategic landscape of the pet cancer therapeutics market is expected to witness strategic collaboration and therapeutic advancements by industry players. For instance, in June 2022, Boehringer Ingelheim partnered with CarthroniX, a company specializing in small molecule-based therapies for degenerative and aging-related diseases, to focus on small molecule therapeutics in canine oncology. This alliance was aimed to extend the reach of the Animal Health division of Boehringer Ingelheim and design a novel paradigm for treating canine cancers
In July 2019, Elanco Animal Health acquired Aratana Therapeutics, a pet therapeutics company engaged in developing innovative therapies for companion animals. The acquisition enhanced the company’s presence in several therapeutic areas in the U.S. & globally.
Some key pet cancer therapeutics market players profiled in the report include Merial Inc., Zoetis Inc., NovaVive, Elanco Animal Health, AB Science, Anivive Lifesciences, Qbiotics, and ELIAS Animal Health.