Press release
Pet Cancer Therapeutics Market 2020 Size, Global Industry Growth Analysis, Regional Development, Outlook and 2026 Forecast
Pet Cancer Therapeutics Market
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https://www.fortunebusinessinsights.com/industry-reports/pet-cancer-therapeutics-market-100678
As per the report, the market for pet cancer therapeutics is dominated by the mast cell cancer segment in terms of cancer type among pets. This is because of the rise in prevalence of the mast cell cancer and easy availability of the drugs used for its treatment. Due to this reason, this segment is forecast to register the highest growth rate in the forecast period as well.
Rising Prevalence of Cancer Among Pets to Boost Market
Various factors are responsible for the global pet cancer therapeutics market to witness rapid growth in the coming years. The rising pet adoption worldwide is one of the major factors boosting the market. The rise in disposable income of people on the other side, is encouraging them to opt for better medical services for their pets. As per the Animal Cancer Foundation, there are 35 million cats and 65 million dogs in the U.S., out of which 6 million are diagnosed with cancer. Recent advancements in diagnostic procedures, better accessibility to treatment, and improved affordability are boosting the global pet cancer therapeutics market.
Some of the Main Key Players Covered in the Report
o Boehringer Ingelheim International GmbH
o ELIAS Animal Health
o Karyopharm Therapeutics
o Aratana Therapeutics, Inc.
o Regeneus Ltd
o VetDC and Zoetis Services LLC.
On the flipside, the rise in animal medical care expenses and lack of diagnosis of certain cancer type in pets may cause hindrance to the market during the forecast period. This, coupled with the side effects related with post-treatment may also hamper the market in the coming years.
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North America Leads the Global Market Due to Availability of Proper Healthcare Facilities for Pets
Geographically, the global pet cancer therapeutics market is anticipated to be dominated by North America and the region is likely to continue its dominance through the forecast period. This is owing to the increasing rate of pet adoption in the developed nations such as Canada and the U.S. This, coupled with the rising incidences of cancer in pets is a major factor boosting the market in the region.
Additionally, the presence of well-established healthcare centers for pets in North America is also helping the market in the region generate greater revenues for pet cancer therapeutics market.
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