According to the Zion Market Research analysts, the — global pet cancer therapeutics market was capitalized at around USD 200.36 million in 2019 and is projected to expand at a significant CAGR of around 10.7% during the forecast period from 2020 to 2026. The active players in the global pet cancer therapeutics market consist of Aratana Therapeutics, Inc., Oasmia Pharmaceuticals AB, Zenoaq, AB Science, Rhizen Pharmaceuticals SA, Morphogenesis, Inc., Karyopharm Therapeutics, Inc., Boehringer Ingelheim International GmbH, Regeneus Ltd., Zoetis, and VetDC, Inc.
Rising R&D Initiatives Expected To Drive The Growth Of The Global Market
The growth of the global pet cancer therapeutics market is anticipated to boost owing to the rising incidence of numerous cancer types in dogs and cats, along with the rise in R&D initiatives in relation to cancer management in animals. Further, the rising pet health alertness is also projected to spur the growth of the market in the near future. To cite, a research grant was received in 2017 by the Animal Cancer Foundation (ACF) from the Blue Buffalo Foundation of US$ 1 million to shore up oncology research that intended at examining resemblance between naturally occurring cancers in pets & people and looking for helpful management in both species. Nevertheless, side-effects owing to the drugs utilized for treating pet cancers and the disinclination of pet owners to make their pet animals undergo medication is likely to hamper the growth of the pet cancer therapeutics market in the coming period.
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Lymphoma Segment Of The Market Likely To Hold The Highest Shares During The Forecast Period
The global pet cancer therapeutics market is categorized on the basis of route of administration, cancer type, species type, and region. The route of administration segment of the global pet cancer therapeutics market is bifurcated into parenteral, oral, and others. The cancer type is classified into melanoma, mast cell cancer, lymphoma, mammary & squamous cell cancer, and others. During the forecast period, the highest share of the market is anticipated to be captured by the lymphoma segment as lymphoma is the most widespread cancer type observed in pets, particularly dogs, and owing to the existence of a robust drug pipeline. The species type segment of the global pet cancer therapeutics market is categorized into cat, dog, and others.
Deep-Rooted Healthcare Infrastructure To Help North America Dominate The Market
The global pet cancer therapeutics market is expected to be ruled by North America and followed by Europe. The market growth in these regions can be attributed to the existence of prominent players, entrenched healthcare infrastructure, rise in prevalence & incidence of pet cancer, and a rise in R&D spending. Further, the Asia Pacific market for pet cancer therapeutics is anticipated to witness substantial growth in the near future. The growth is projected to be propelled by China and India, on account of rising prevalence & incidence of pet cancer, increasing disposable income, mounting government initiatives, increasing alertness, and thriving veterinary infrastructure.
The global pet cancer therapeutics market is segmented as follows:
By Route of Administration
By Cancer type
Mammary & squamous cell cancer
Mast cell cancer
By species type
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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