The Pet Cancer Therapeutics by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Pet Cancer Therapeutics, The pet cancer therapeutics market size has grown rapidly in recent years. It will grow from $0.35 billion in 2023 to $0.39 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to rise in pet ownership, advancements in veterinary medicine, increased awareness of pet health, humanization of pets, expansion of veterinary services.
The pet cancer therapeutics market size is expected to see rapid growth in the next few years. It will grow to $0.59 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to growing aging pet population, advancements in cancer treatment, rising veterinary oncology services, pet insurance and healthcare plans, global expansion of pet care services. Major trends in the forecast period include rise in nutraceuticals and integrative therapies, increased availability of targeted diagnostic tests, collaboration between veterinary and human oncology, introduction of novel chemotherapeutic agents, growing awareness and pet owner education.
Increased pet healthcare expenditure is expected to propel the growth of the pet cancer therapeutics market going forward. Pet healthcare expenditure refers to the amount of money spent on veterinary services, medicines, and other healthcare-related expenses for pets. The increasing expenditure on pet healthcare reflects the growing trend of pet owners’ willingness to invest in the well-being of their pets, which can translate to increased demand for pet cancer therapeutics. For instance, according to the 2023 State of the Industry Report, published by the North American Pet Health Insurance Association (NAPHIA), a US-based pet health insurance organizations association, the total number of pets insured in the U.S. at year-end 2022 was 4.8 million, a 22% increase since 2021. Therefore, increased pet healthcare expenditure is driving the pet cancer therapeutics market.
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The pet cancer therapeutics market covered in this report is segmented –
1) By Cancer Type: Melanoma, Mast Cell Cancer, Lymphoma, Mammary And Squamous Cell Cancer
2) By Species: Dogs, Cats, Other Species
3) By Therapy: Chemotherapy, Radiation Therapy, Immunotherapy, TomoTherapy, Other Therapies
4) By End User: Veterinary Hospitals, Clinical Pharmacies, Retail Pharmacies, Online Pharmacies, Other End Users
Top Major Players:
- AB Science
- Boehringer Ingelheim GmbH
- Elanco Animal Health
- ELIAS Animal Health
- Zoetis Inc.
North America was the largest region in the pet cancer therapeutics market in 2023.
Technological advancement has emerged as a key trend gaining popularity in the pet cancer therapeutics market. Major players are focusing their efforts on developing innovative technologies to strengthen their position in the market. For instance, in May 2021, PetDx, a US-based biotech company in the animal health industry, launched a new technology known as OncoK9. This technology is a blood-based multi-cancer early detection (MCED) test that has been specifically developed for dogs. It is uniquely designed with cutting-edge genomic analysis that leverages next-generation sequencing (NGS) technology to offer new cancer-detection capabilities.
The pet cancer therapeutics market report table of contents includes:
1. Executive Summary
2. Pet Cancer Therapeutics Market Characteristics
3. Global Pet Cancer Therapeutics Market Trends And Strategies
4. Pet Cancer Therapeutics Market – Macro Economic Scenario
5. Global Pet Cancer Therapeutics Market Size and Growth
…….
26. Global Pet Cancer Therapeutics Market Competitive Benchmarking
27. Global Pet Cancer Therapeutics Market Competitive Dashboard
28. Key Mergers and Acquisitions Pet Cancer Therapeutics Market
29. Pet Cancer Therapeutics Market Future Outlook and Potential Analysis
30. Appendix
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