Pet Cancer Therapeutics Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030

The Global Pet Cancer Therapeutics Market Size accounted for USD 220 Million in 2021 and is estimated to achieve a market size of USD 525 Million by 2030 growing at a CAGR of 10.4% from 2022 to 2030. One of the primary factors driving the pet cancer therapeutics market growth is the increasing occurrence of cancer in animals around the world. Furthermore, increasing animal domestication and rising public awareness about pet health are propelling the pet cancer therapeutics market value.

Pet Cancer Therapeutics Market Report Key Highlights

• Global pet cancer therapeutics market revenue is expected to increase by USD 525 Million by 2030, with a 10.4% CAGR from 2022 to 2030
• North America region led with more than 72% of pet cancer therapeutics market share in 2021
• Asia-Pacific pet cancer therapeutics market growth will observe strongest CAGR from 2022 to 2030
• By species, the dogs segment has accounted market share of over 88% in 2021
• By medicine type, chemotherapy segment engaged more than 65% of the total market share in 2021
• Growing awareness of pet diseases among pet owners, drives the pet cancer therapeutics market size

The term "pet cancer therapy" refers to the identification and treatment of malignant and tumor growth in domesticated animals. It comprises the treatments of lymphoma, melanoma, and mast cell cancer, as well as mammary and squamous cell cancer in dogs, cats, and other companion animals. Chemotherapy, radiation therapy, immunotherapy, and biopsy are some of the most often utilized therapeutics. These therapies use plant- and bacteria-based medications to progressively kill or shrink cancer cells, preventing the tumor from spreading to other parts of the body.

Global Pet Cancer Therapeutics Market Trends

Market Drivers

• Rise in the prevalence of pet cancer
• Growing awareness of pet diseases among pet owners
• Technological advances in pet cancer therapies, such as cancer immunotherapy
• Increasing pet care spending

Market Restraints

• Lack of veterinary oncologists
• Side effects associated with pet cancer therapy

Market Opportunities

• High unmet medical needs and high potential
• Rapid increase in funding for cancer therapy research activities

Pet Cancer Therapeutics Market Report Coverage

The pet cancer therapeutics market is driven by the rapid adoption of innovative pet care medicines. The growing trend of pet adoption such as dogs and cats owing to the enhanced economic status of people will drive the global market. Furthermore, the rising prevalence of pet cancer and growing pet healthcare expenditure will stimulate the growth of the global pet cancer therapeutics market. Growing research and development initiatives by manufacturers to treat pet cancer will result in the launch of novel products in the market over the forecast years. The key players with a strong product portfolio are expected to expand their market share with their innovative treatments. The contrary effects of pet cancer drugs and the lack of awareness about pet diseases among pet owners will restrain the market growth. The cost of pet cancer therapeutics will further hamper pet health in most developing countries across the globe.

Pet Cancer Therapeutics Market Segmentation

The global pet cancer therapeutics market segmentation is based on species, medicine type, cancer type, and geography.

Pet Cancer Therapeutics Market By Species

• Dogs
• Cats
• Others

According to a pet cancer therapeutics industry analysis, the dog cancer therapeutics market in the species segment held the largest revenue in the global market in the upcoming years. The rise in the existence of a high number of marketed drugs and vaccines for cancer treatment in dogs will boost the overall market growth.

Pet Cancer Therapeutics Market By Medicine Type

• Vaccines
• Chemotherapy Drugs

In terms of medicine types, the chemotherapy segment is expected to lead the market. Chemotherapy seems to be the most often used therapy for treating animal cancer and has been demonstrated to achieve remission in more than 70% of instances. More than 95% of dogs with cancer, primarily lymphoma, are expected to be healed completely with an appropriate treatment approach that includes chemotherapy.

Pet Cancer Therapeutics Market By Cancer Type

• Lymphoma
• Melanoma
• Mast Cell Cancer
• Mammary and Squamous Cell Cancer
• Others

According to the pet cancer therapeutics market forecast, the mast cell cancer sub-segment is expected to hold the largest share of the global market in the coming years. Also, the availability of various drugs for mast cell cancer treatment. But, the shifting trend from mast cell cancer to other cancer treatments is expected to grow at a moderate pace during the forecast period.

Pet Cancer Therapeutics Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)