Pet Cancer Therapeutics Market Outlook - 2027
Cancer in pets can be of many forms such as soft tissue sarcomas and mast cell tumors, which potentially can be cured or restricted from spreading further with the help of long-term treatment. Pet cancer therapeutics refer to the novel anti-cancer drugs used while treating cancer capable of suppressing the effect of cancerous cells and restricting their growth. In cases, where incurable forms of cancer emerge, the aim of veterinary professionals is to prolong survival while maintaining or improving pet’s quality of life and reducing the pain. It is a common disease in pets especially dogs and cats. Pet cancer covers a wide range of specific diagnostics against various forms of cancer. Cancer treatment in pets often involves a combination of care involving a veterinarian and cancer care professional. Pet cancer therapeutics varies depending upon the type of cancer and its stage, may be the use of just one therapy or include combination of therapies including tumor removal surgery, chemo therapy, radiation therapy, TomoTherapy, immune therapy and others. The current studies related to pet oncology disciple emphasize on improving efficacy and reduction of side effects of novel anticancer drugs.
COVID – 19 scenario analysis:
- The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses
- Industry closures and people are asked to stay in their homes which has cause taken a huge toll in terms of money and economic growth
- Over 4 million people affected globally, with 300 thousand losing their lives due to SARS-CoV-2
- In addition, it has been observed after some research that people with prevalence of cardiac diseases are at higher risk for mortality and morbidity related to COVID-19 compared to the average population
- Due to diversion of medical field towards treating COVID-19,the funding to R&D activities related to pet oncology has been reduced, manufacture of ventilators essential for COVID-19 treatment has been prioritized and as a result, this segment have to face negligence subsequently causing negative impact on pet cancer therapeutics market
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Major factors driving the growth for pet cancer therapeutics market include the increasing prevalence of cancers in cats and dogs, heavy investments in research and development activities associated with oncology treatment and management in pets. The Veterinary Cancer Society stated that cancer resulted fatalities on 47% of dogs and was the leading cause of death in dogs, especially dogs with age over 10 years, and 32% of cats, in 2017. The most common form of cancers found in cats are leukemia and lymphoma. There has been a correlation between the prevalence of cancer and rising age of cancer, however it was also observed that some breeds showed higher cancer rates than other breeds. Additionally, growing consciousness regarding pet healthcare and treatments available in the market coupled with rise in existence of the high number of marketed drugs and vaccines for cancer treatment are further expected to propel the market. Industry players in the market with extensive product pipelines and innovative product launches will further lead to pet cancer therapeutics market development.
On the contrary, adverse effects due to cancer therapeutics for the treatment of oncology conditions in pets and the ignorance of pet owners to put their pets on medications are the restrains hampering the growth of pet cancer therapeutics market. Dearth of veterinary oncologists, low expenditure on pet healthcare in developing and under-developed economies and lack of awareness about pet diseases and treatment among the pet owners will impede the growth of market.
Recent technological advancements to drive the market
Owing to current research and studies in animal oncology and treatment has resulted into various technological developments in the recent times. The major emphasis is laid on the development of anticancer drugs and improvising their efficacy and reducing potential adverse effects of the drugs on the body of pets. Till 2015, various research organizations and related projects concentrated on genetic mechanisms in canine cells for development of highly target specific and efficient therapies for animal cancer treatment. Moreover, Animal Cancer Foundation, Petco Foundation, PetCure Oncology, Veterinary Cancer Society and other organizations are working collectively for development of targeted anti-cancer therapeutics and treatments with minimal adverse backlashes in terms of harmful aftereffects.
Furthermore, sanctioning of research grants in the field of animal oncology for the development of breakthrough anti-cancer therapies with reduced side effects are increasing. For example, the Animal Cancer Foundation (ACF) received a research grant of $1 million in 2015, from the Blue Buffalo Foundation. This research grant was primarily to support and accelerate cancer treatment research that prioritized at conducting research and exploratory studies to investigate the similarities between cancers in humans and pets to find efficient therapeutics in both the cases.
North America to dominate the market
North American region is set to dominate the pet cancer therapeutics throughout pertaining to rising pet adoption, increasing per capita expenditure on animal healthcare, rise in the occurrence of pet cancers, and presence of robust healthcare infrastructure facility as well as leading market players in the region. Around 90 million dogs are pets owned in the U.S., according to statistics of the American Pet Products Association (APPA). Additionally, the stats published by APPA, stated the expenditure on pet healthcare is estimated to be $75.38 billion by 2019. Further, prominent awareness regarding pet diseases and healthcare management among the pet owners will exponentially surge the growth of pet cancer therapeutics market in the region.
Key benefits of the report:
- This study presents the analytical depiction of the global pet cancer therapeutics stem industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global pet cancer therapeutics market share.
- The current market is quantitatively analyzed to highlight the global pet cancer therapeutics market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global pet cancer therapeutics market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Pet cancer therapeutics Market research report:
- What are the leading market players active in the pet cancer therapeutics market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Pet Cancer Therapeutics Market Report Highlights
| Aspects | Details |
 By Therapy |
|
 By Animal Species |
|
 By Cancer Types |
|
 By Region |
|
 Key Market Players | Merial Inc, Zoetis., Elanco, Aratana Therapeutics, ELIAS Animal Health, Regeneus, VetiVax, Karyopharms Therapeutics, AB Science, VetDC Inc |
 Other Players | ngelheim International GmbH, Zenoaq, Morphogenesis, Inc |
Loading Table Of Content...
