As per the current market research conducted by the CMI Team, the global Pet Cancer Therapeutics Market size is expected to record a CAGR of 9.2% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 526.5 Million. By 2033, the valuation is anticipated to reach USD 1,162.4 Million.
Pet Cancer Therapeutics Market: Growth Factors and Dynamics
- Increasing Pet Ownership and Humanization Trends: The growing number of pet owners who consider their pets as family members has fueled the demand for advanced veterinary care, including cancer therapeutics. Humanization trends, where pets are treated as companions and receive similar healthcare standards as humans, are driving pet owners to seek advanced treatment options for conditions like cancer.
- Advancements in Veterinary Medicine: Veterinary medicine has witnessed significant advancements in diagnostic tools, treatment modalities, and surgical techniques for cancer in pets. These advancements include targeted therapies, immunotherapies, and minimally invasive surgical procedures, improving the prognosis and quality of life for pets diagnosed with cancer.
- Rising Incidence of Pet Cancer: Similar to humans, pets are also susceptible to cancer, with certain breeds being predisposed to specific types of cancer. The increasing prevalence of risk factors such as environmental pollutants, genetic predispositions, and aging populations of pets has contributed to the rising incidence of cancer in companion animals, driving the demand for effective cancer therapeutics.
- Growing Awareness and Education: Pet owners are becoming increasingly aware of the signs and symptoms of cancer in pets, leading to earlier diagnosis and intervention. Veterinary professionals also play a crucial role in educating pet owners about preventive measures, regular screenings, and treatment options for pet cancer, fostering greater awareness and demand for cancer therapeutics.
- Expansion of Veterinary Oncology Services: The expansion of veterinary oncology services, including the establishment of specialized cancer treatment centers and the availability of board-certified veterinary oncologists, has significantly contributed to the growth of the pet cancer therapeutics market. These dedicated facilities offer comprehensive cancer care, including diagnosis, treatment planning, chemotherapy, radiation therapy, and palliative care, enhancing access to advanced cancer treatments for pets.
- Investments in Research and Development: Increased investments in research and development focused on pet cancer therapeutics have led to the development of novel drugs, treatment protocols, and therapeutic approaches tailored to the unique biology of companion animals. Collaborations between pharmaceutical companies, academic institutions, and veterinary organizations have accelerated the pace of innovation in this field, driving the growth of the pet cancer therapeutics market.
Pet Cancer Therapeutics Market: Partnership and Acquisitions
- In 2023, The Canine Tumor Genome Atlas, a groundbreaking genomic data bank, was launched at UC Davis, focusing on comparative oncology. It aims to store gene samples from companion dogs diagnosed with oral melanomas, osteosarcomas, and gliomas, paving the way for advanced research in canine cancer.
- In 2022, Petco Love allocated USD 15 million in grants to its animal welfare partners across the United States to support shelter operations, provide medical treatments for pets, and promote pet adoption efforts, particularly during the pandemic.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 526.5 Million |
| Projected Market Size in 2033 | USD 1,162.4 Million |
| Market Size in 2023 | USD 482.1 Million |
| CAGR Growth Rate | 9.2% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Therapy, Cancer Type, Route of Administration, Pet Type and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Pet Cancer Therapeutics Market: COVID-19 Analysis
The COVID-19 pandemic has had a significant impact on the Pet Cancer Therapeutics Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Disruption in Veterinary Services: During the COVID-19 pandemic, many veterinary clinics and hospitals faced operational challenges, including reduced hours, appointment cancellations, and limitations on non-essential procedures. This disruption in veterinary services affected the diagnosis and treatment of pet cancer, leading to delays in care and decreased demand for pet cancer therapeutics.
- Financial Constraints for Pet Owners: Economic uncertainties resulting from the pandemic led to financial constraints for many pet owners, affecting their ability to afford expensive cancer treatments for their pets. Some pet owners may have postponed or foregone cancer treatment altogether due to financial constraints, impacting the demand for pet cancer therapeutics.
- Resumption of Veterinary Services: With the easing of COVID-19 restrictions and the rollout of vaccination campaigns, veterinary clinics and hospitals have gradually resumed normal operations. This has facilitated the resumption of routine screenings, diagnostic procedures, and cancer treatments for pets, driving the demand for pet cancer therapeutics.
- Rise in Pet Adoption and Ownership: The COVID-19 pandemic led to a surge in pet adoption and ownership as people sought companionship and emotional support during periods of lockdown and social distancing. The increase in pet ownership has translated into a higher demand for veterinary services, including cancer diagnosis and treatment, contributing to the recovery of the pet cancer therapeutics market.
- Expansion of Telemedicine and Remote Consultations: The pandemic accelerated the adoption of telemedicine and remote consultations in veterinary medicine, allowing pet owners to consult with veterinarians and specialists virtually. This has facilitated access to veterinary care, including cancer consultations and treatment planning, particularly for pet owners in remote areas or those facing mobility restrictions.
- Focus on Research and Innovation: Despite the challenges posed by the pandemic, research and innovation in the field of pet cancer therapeutics have continued, driven by the increasing recognition of cancer as a significant health concern in companion animals. Investments in research, clinical trials, and the development of novel cancer treatments have contributed to the introduction of new and improved pet cancer therapeutics, further supporting the recovery of the market.
In conclusion, the COVID-19 pandemic has had a mixed impact on the Pet Cancer Therapeutics Market, with some challenges and opportunities arising from the pandemic.
List of the prominent players in the Pet Cancer Therapeutics Market:
- Zoetis Inc.
- Elanco Animal Health
- Boehringer Ingelheim Animal Health
- Virbac
- Aratana Therapeutics
- AB Science
- VetDC Inc.
- Regeneus Ltd.
- CanFel Therapeutics
- Merial
- Karyopharm Therapeutics Inc.
- Rhizen Pharmaceuticals SA
- Vetoquinol S.A.
- Ceva Santé Animale
- Sentia Medical Sciences Inc.
- Others
The Pet Cancer Therapeutics Market is segmented as follows:
By Therapy
- Chemotherapy
- Immunotherapy
- Targeted Therapy
- Combination Therapy
- Others
By Cancer Type
- Lymphoma
- Mast Cell Cancer
- Melanoma
- Mammary and Squamous Cell Cancer
- Others
By Route of Administration
- Oral
- Injection
By Pet Type
- Dog
- Cat
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America