Press release
Pet Cancer Therapeutics Market Forecast 2024-2033: Unveiling Growth Trends and Revenue Potential
Pet Cancer Therapeutics
The Business Research Company offers in-depth market insights through Pet Cancer Therapeutics Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The pet cancer therapeutics market size has grown rapidly in recent years. It will grow from $0.35 billion in 2023 to $0.39 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to rise in pet ownership, advancements in veterinary medicine, increased awareness of pet health, humanization of pets, expansion of veterinary services..
The pet cancer therapeutics market size is expected to see rapid growth in the next few years. It will grow to $0.59 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to growing aging pet population, advancements in cancer treatment, rising veterinary oncology services, pet insurance and healthcare plans, global expansion of pet care services.. Major trends in the forecast period include rise in nutraceuticals and integrative therapies, increased availability of targeted diagnostic tests, collaboration between veterinary and human oncology, introduction of novel chemotherapeutic agents, growing awareness and pet owner education..
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Market Segmentation:
The pet cancer therapeutics market covered in this report is segmented -
1) By Cancer Type: Melanoma, Mast Cell Cancer, Lymphoma, Mammary And Squamous Cell Cancer
2) By Species: Dogs, Cats, Other Species
3) By Therapy: Chemotherapy, Radiation Therapy, Immunotherapy, TomoTherapy, Other Therapies
4) By End User: Veterinary Hospitals, Clinical Pharmacies, Retail Pharmacies, Online Pharmacies, Other End Users
Major Driver - Rising Pet Healthcare Expenditure Sparks Growth In Pet Cancer Therapeutics Market
Increased pet healthcare expenditure is expected to propel the growth of the pet cancer therapeutics market going forward. Pet healthcare expenditure refers to the amount of money spent on veterinary services, medicines, and other healthcare-related expenses for pets. The increasing expenditure on pet healthcare reflects the growing trend of pet owners' willingness to invest in the well-being of their pets, which can translate to increased demand for pet cancer therapeutics. For instance, according to the 2023 State of the Industry Report, published by the North American Pet Health Insurance Association (NAPHIA), a US-based pet health insurance organizations association, the total number of pets insured in the U.S. at year-end 2022 was 4.8 million, a 22% increase since 2021. Therefore, increased pet healthcare expenditure is driving the pet cancer therapeutics market.
Competitive Landscape:
Major companies operating in the pet cancer therapeutics market report are AB Science, Boehringer Ingelheim GmbH, Elanco Animal Health, ELIAS Animal Health, Zoetis Inc., Aratana Therapeutics Inc., Anivive Lifesciences Inc., QBiotics Group Ltd., Regeneus Ltd., VetDC Inc., PetCure Oncology at Veterinary Radiosurgery and Imaging Center, Karyopharm Therapeutics Inc., Torigen Pharmaceuticals Inc., virology and bacteriology, Nippon Zenyaku Kogyo Co. Ltd., Vivesto AB, Dechra Pharmaceuticals plc, Elekta Medical Systems India Pvt. Ltd., Norbrook Laboratories Ltd., AdvaVet Inc., Merial Animal Health Ltd., Oasmia Pharmaceuticals AB, Zenoaq Co. Ltd., Rhizen Pharmaceuticals SA, Morphogenesis Inc., Pfizer Inc., Sumitomo Pharma Animal Health Co., Vetivax, CarthroniX Inc. .
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Top Trend - Innovative Strides In Pet Cancer Therapeutics
Technological advancement has emerged as a key trend gaining popularity in the pet cancer therapeutics market. Major players are focusing their efforts on developing innovative technologies to strengthen their position in the market. For instance, in May 2021, PetDx, a US-based biotech company in the animal health industry, launched a new technology known as OncoK9. This technology is a blood-based multi-cancer early detection (MCED) test that has been specifically developed for dogs. It is uniquely designed with cutting-edge genomic analysis that leverages next-generation sequencing (NGS) technology to offer new cancer-detection capabilities.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Pet Cancer Therapeutics Market Characteristics
3. Pet Cancer Therapeutics Market Trends And Strategies
4. Pet Cancer Therapeutics Market - Macro Economic Scenario
5. Pet Cancer Therapeutics Market Size And Growth
…..
27. Pet Cancer Therapeutics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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