What Will The Pet Cancer Therapeutics Market Look Like In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s pet cancer therapeutics market report forecasts the pet cancer therapeutics market size to grow to $0.53 Billion by 2027, with a CAGR (compound annual growth rate) of more than 10%.
Learn More On The Pet Cancer Therapeutics Market Report 2023 – https://www.thebusinessresearchcompany.com/report/pet-cancer-therapeutics-global-market-report
Pet Cancer Therapeutics Market Size Forecast
The global pet cancer therapeutics market is expected to grow from $0.31 billion in 2022 to $0.35 billion in 2023 at a compound annual growth rate (CAGR) of 12.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global pet cancer therapeutics market size is expected to reach $0.53 billion in 2027 at a CAGR of 10.8%.
North America held the largest pet cancer therapeutics market share.
Key Pet Cancer Therapeutics Market Driver – Increase In The Prevalence Of Pet Cancer
According to Veterinary Cancer Society (VCS) projections for 2022, one in every four dogs will be diagnosed with cancer during their lifetime, with cancer being the leading cause of death in older pets. Furthermore, the National Cancer Institute, the federal government’s major organisation, estimates that around 6 million new cases of cancer are diagnosed in each species each year, with this figure anticipated to rise in the coming years. As a result, the rising occurrence of pet cancer will drive the growth of the pet cancer therapies market.
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Key Pet Cancer Therapeutics Market Trend – Technological Advancement
To increase their market position, major players are concentrating their efforts on developing novel technology. For example, PetDx, a US-based biotech business in the animal health industry, will debut OncoK9TM in May 2021. This technology is a multi-cancer early detection (MCED) blood test designed exclusively for dogs. It is one-of-a-kind in that it uses cutting-edge genomic analysis and next-generation sequencing (NGS) technology to provide novel cancer-detection capabilities.
Pet Cancer Therapeutics Market Segment
1) By Cancer Type: Melanoma, Mast Cell Cancer, Lymphoma, Mammary And Squamous Cell Cancer
2) By Route of Administration: Oral, Injection
3) By Species: Dogs, Cats, Other Species
4) By Therapy: Chemotherapy, Radiation Therapy, Immunotherapy, TomoTherapy, Other Therapies
5) By End User: Veterinary Hospitals, Clinical Pharmacies, Retail Pharmacies, Online Pharmacies, Other End Users
Pet Cancer Therapeutics Market Major Players and Strategies
Major players in the pet cancer therapeutics market are AB Science, Boehringer Ingelheim GmbH, Elanco Animal Health, ELIAS Animal Health, Zoetis, Aratana Therapeutics Inc., Anivive, Qbiotics, Regeneus Ltd., VetDC, PetCure Oncology, Karyopharm, Torigen Pharmaceuticals Inc., Virbac, and Nippon Zenyaku Kogyo Co Ltd.
Elanco, a US-based animal health company, bought Kindred Biosciences for an unknown sum in June 2021. Elanco will be able to extend its line of animal health products as well as get access to new technologies and development platforms as a result of this transaction. Kindred Biosciences is a biopharmaceutical firm established in the United States that specialises in the discovery of novel therapies for pets.
The Pet Cancer Therapeutics Global Market Report 2023 covers regional data on pet cancer therapeutics market size, pet cancer therapeutics market trends and drivers, opportunities, strategies, and pet cancer therapeutics market competitor analysis. The countries covered in the pet cancer therapeutics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The use of various treatments and pharmaceuticals to manage or cure cancer in pets is referred to as pet cancer therapy. These treatments are determined by various criteria, including the type and stage of cancer, as well as the pet’s age and overall condition.
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