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Pet Cancer Therapeutics Market size to exceed $1 Bn by 2032

  • Published Date: March 17, 2023

Pet Cancer Therapeutics Market size is expected to surpass USD 1 billion by 2032, as per a new research report announced by Global Market Insights Inc.

Promising innovations in pet cancer therapeutics, especially cancer immunotherapy, are driving the pet cancer therapeutics industry trends. Treatment options are expanding in line with the soaring number of dogs suffering from cancer. Radiation therapy has changed significantly throughout the years as methods and tools have advanced, improving its ability to treat cancer.

Consistent R&D initiatives to increase the immunotherapy industry share

Pet cancer therapeutics market from the immunotherapy segment is estimated to garner over USD 191 million by the end of 2032. The discovery of innovative medicines in veterinary oncology has been facilitated by recent R&D programs in immunotherapy. A Journal for Immunotherapy research published in June 2022 found that a natural protein interleukin 15 can serve as a new immunotherapy for canine cancer.

Browse key industry insights spread across 140 pages with 228 market data tables & 13 figures & charts from the report, “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), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:

 Better animal compliance and ease of administration to push injection uptake

Pet cancer therapeutics market from the injection segment accounted over USD 235 million in 2022 owing to easy use in treating companion animals. Strong support of authoritative agencies in approving pet cancer injections and simplified input in pets’ bodies encourage pet owners to select this route to avoid issues with dosage administration and patient compliance.

Increasing cases of feline cancer to augment product use in cats

Pet cancer therapeutics market from cats segment will to expand at 9% CAGR by 2032. The segmental growth is attributed to the rising incidences of feline cancer. In a 2000-2021-based research study on feline primary nonhematopoietic malignant liver tumors, it was found that among 40 domestic cats, 32.5% suffered from bile-duct carcinomas. In addition, the mounting prevalence of lymphoma cases in cats is strengthening the demand for effective pet cancer therapies.

 Strong prevalence of lymphoma to accelerate expansion for pet cancer therapeutics

The pet cancer therapeutics industry from the lymphoma application segment to reach of USD 363 million by 2032 propelled by the surging prevalence of lymphoma, primarily among dogs. Canine lymphoma is profound in middle-aged to old pets. According to the Wiley Journal, the calculated incidence rate of lymphoma in dogs account for up to 83% of all hematological malignancies. Moreover, lymphoma is regarded as the most dominant type of canine cancer that is estimated at 100 cases per 100,000 dogs.

Favorable awareness initiatives to help Europe emerge as a prominent revenue hub

Europe pet cancer therapeutics market to register more than 12% CAGR by 2032. The considerable prevalence of canine cancer and the adoption of supportive campaigns to raise awareness regarding pet cancer is set to boost product adoption in the region. To cite an instance, the Animal Cancer Trust in the UK started the Cancer Alert Practice (CAP) to assist cancer-stricken pets by raising funds to support their diagnostic and therapeutic procedures.

Effective R&D measures to improve mast cell cancer treatment to foster the industry outlook

Some key players profiled in the pet cancer therapeutics industry report include Elanco Animal Health, Zoetis Inc., Merial Inc., NovaVive, Anivive Lifesciences, AB Science, Qbiotics, and ELIAS Animal Health, among others.

Authors: Rupali Swain, Subodh Kharad