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Pet Cancer Therapeutics Market Report 2025-2034: Industry Overview, Trends, And Forecast Analysis
Pet Cancer Therapeutics
How Big Is the Pet Cancer Therapeutics Market Size Expected to Be by 2034?
The market for cancer treatments in pets has seen remarkable growth in recent years. The market scale is set to expand from $0.39 billion in 2024 to an estimated $0.43 billion in 2025, boasting an impressive compound annual growth rate (CAGR) of 10.8%. This significant growth rate in the previous period is due to various factors such as the increase in pet adoption, progress in veterinary medicine, enhanced knowledge of pet health, viewing pets as family members, and the extension of veterinary services.
Over the coming years, the pet cancer therapeutics market is projected to experience substantial growth. By 2029, it's anticipated to surge to $0.65 billion with a compound annual growth rate (CAGR) of 10.7%. The projected expansion over the forecast period can be credited to factors such as a growing aged pet population, advancements in cancer treatments, the rise of veterinary oncology services, emergence of pet insurance and healthcare plans, and the worldwide proliferation of pet care services. Noteworthy trends during the forecast period include an increase in nutraceuticals and integrative therapies, higher availability of specific diagnostic tests, collaborations between veterinary and human oncology fields, the introduction of innovative chemotherapeutic agents, along with escalating awareness and education for pet owners.
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How Are Emerging Segments Shaping the Pet Cancer Therapeutics Market Landscape?
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
Subsegments:
1) By Melanoma: Surgical Interventions, Chemotherapy, Immunotherapy, Targeted Therapy
2) By Mast Cell Cancer: Surgery, Chemotherapy, Tyrosine Kinase Inhibitors, Radiation Therapy
3) By Lymphoma: Chemotherapy Protocols, Steroid Therapy, Radiation Therapy, Immunotherapy
4) By Mammary And Squamous Cell Cancer: Surgical Treatment, Chemotherapy, Radiation Therapy, Palliative Care Options
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Which Growth Factors Are Influencing Pet Cancer Therapeutics Market Expansion?
The expansion of the pet cancer therapeutics market is anticipated due to rising costs related to pet healthcare. The term "pet healthcare expenditure" pertains to the sum allocated towards veterinary assistance, medications, and other health-related pet expenses. This increase in spending on pets' health mirrors the evolving trend of owners being more than willing to invest in their pets' welfare, potentially leading to a surge in demand for pet cancer treatments. For example, in the NAPHIA's 2023 State of the Industry Report, it was revealed that the overall count of insured pets in the United States reached 4.8 million by the close of 2022 - a 22% rise since 2021. Therefore, the driving force behind the ascension of the pet cancer therapeutics market is the upsurge in pet healthcare expenses.
Who Are the Dominant Players Across Different Pet Cancer Therapeutics Market Segments?
Major companies operating in the pet cancer therapeutics market include AB Science, Boehringer Ingelheim GmbH, Elanco Animal Health, ELIAS Animal Health, Zoetis Inc., Anivive Lifesciences Inc., QBiotics Group Ltd., Regeneus Ltd., VetDC Inc., PetCure Oncology at Veterinary Radiosurgery and Imaging Center, Torigen Pharmaceuticals Inc., virology and bacteriology, Nippon Zenyaku Kogyo Co. Ltd., Vivesto AB, Dechra Pharmaceuticals plc, Norbrook Laboratories Ltd., AdvaVet Inc., Oasmia Pharmaceuticals AB, Zenoaq Co. Ltd., Morphogenesis Inc., Sumitomo Pharma Animal Health Co., Vetivax, CarthroniX Inc.
What Are the Latest Developing Trends in the Pet Cancer Therapeutics Market?
Leading firms in the pet cancer therapeutics industry are leveraging innovations such as epigenetic technology to enhance the effectiveness of treatments and precision in targeting cancerous cells, thereby improving the prognosis for pets suffering from cancer. Epigenetic technology pertains to techniques that alter gene expression without modifying the fundamental DNA sequence, often influencing the behavior of cells and potential therapeutic results. For example, in April 2024, VolitionRx Limited, a multinational epigenetics firm based in the US, introduced the Nu.Q Vet Cancer Test. This test is conducted using the Element i+ Analyzer, ensuring swift results, usually within approximately 6 minutes. The test employs an enzyme-linked immunosorbent assay to identify circulating nucleosomes in the bloodstream - an indicator of cancer presence.
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Which Geographic Regions Are Expected to Dominate the Pet Cancer Therapeutics Market in the Coming Years?
North America was the largest region in the pet cancer therapeutics market in 2024. The regions covered in the pet cancer therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Pet Cancer Therapeutics Market?
2. What is the CAGR expected in the Pet Cancer Therapeutics Market?
3. What Are the Key Innovations Transforming the Pet Cancer Therapeutics Industry?
4. Which Region Is Leading the Pet Cancer Therapeutics Market?
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