Pet Cancer Therapeutics Market Size, Share, Analysis, Trends, Growth Report, 2032

Pet Cancer Therapeutics Industry Prospective:

The global pet cancer therapeutics market size was evaluated at $439.86 Million in 2023 and is slated to hit $861.82 Million by the end of 2032 with a CAGR of nearly 7.69% between 2024 and 2032.

Request Free Sample

Pet Cancer Therapeutics Market: Overview

Pet cancer therapeutics is a new anti-cancer medicine that has the capacity for reducing the negative impact of cancer tissues. In addition to this, pet cancer therapeutics encompasses combination therapy as well as monotherapy. Apparently, the current research activities mainly focus on the proliferation of new anti-cancer medicines for enhancing efficiency and minimizing treatment side effects.

Key Insights

• As per the analysis shared by our research analyst, the global pet cancer therapeutics market is projected to expand annually at the annual growth rate of around 7% over the forecast timespan (2023-2030)
• In terms of revenue, the global pet cancer therapeutics market size was evaluated at nearly $11 billion in 2022 and is expected to reach $15 billion by 2030.
• The global pet cancer therapeutics market is anticipated to grow rapidly over the forecast timeline owing to a rise in awareness about pet ailments along with a rise in a tendency towards spending on pet care as well as treatment of pets.
• In terms of route of administration, the oral segment is slated to register the highest CAGR over the analysis period.
• Based on the cancer type, the mast cell cancer segment is set to dominate the cancer type segment over the forecast period.
• Based on the species type, the dog segment is predicted to lead the species type segment over the forecast period.
• Region-wise, the Asia-Pacific pet cancer therapeutics industry is projected to register the fastest CAGR during the assessment timeline.

Pet Cancer Therapeutics Market: Growth Factors

Rise in the occurrence of cancer in pets will proliferate the growth of the market across the globe

Growing trend of adopting pets like cats & dogs across the globe will promote the expansion of the pet cancer therapeutics market over the forecast timeline. An increase in the occurrence of pet cancer in developed nations will proliferate the global market progression in the years to come. Additionally, a surge in the pet populace in countries like the U.S., UK, and Germany will culminate in humungous market demand over the estimated timespan.

Furthermore, a rise in awareness about pet ailments along with a rise in the tendency towards spending on pet care as well as treatment of pets will exponentiate the growth of the market globally over the forecasting years. Additionally, the rise in various kinds of cancers in dogs & cats and the surge in the funding of research activities pertaining to cancer therapy in canines & cats will prompt business growth over the span of the next few years. New product launches will contribute majorly towards the expansion of the market in the upcoming years. For instance, in March 2023, Novartis declared that the newly launched Novartis Pluvicto™, a targeted radioligand therapy for prostate cancer, received approval from the U.S. FDA.

Pet Cancer Therapeutics Market: Restraints

Less availability of veterinary doctors can restrict the global industry expansion

Low availability of veterinary oncologists along with adverse effects caused due to pet cancer treatment can put brakes on the global pet cancer therapeutics industry surge. High treatment costs can put up a huge hurdle in the growth path of the industry across the globe.

Pet Cancer Therapeutics Market: Opportunities

Surge in the unmet medical requirements to open new growth avenues for the global market

Rise in the unmet medical needs and growing potential of pet cancer treating drugs will open new growth opportunities for the global pet cancer therapeutics market. Apart from this, a rise in the allocation of funds for pet cancer treatment research activities will promote the growth of the market in the coming years.

Pet Cancer Therapeutics Market: Challenges

Government objection to use of high drug doses in treating pets suffering from cancer can prove a huge challenge for the global industry expansion

Government restrictions on the high dosage of medicines for treating cancer in pets along with a need for approval of the pet cancer therapies from state authorities can prove to be a big challenge for the global pet cancer therapeutics industry.

Request Free Sample

Pet Cancer Therapeutics Market: Segmentation

The global pet cancer therapeutics market is sectored into route of administration, cancer type, species type, and region.        

In route of administration terms, the global pet cancer therapeutics market is segregated into parenteral, oral, and others segments. Furthermore, the oral segment, which amassed nearly 65% of the global market revenue in 2022, is expected to record the highest CAGR in the forecasting timeframe. The growth of the segment in the forecast timeline can be due to benefits offered by the oral route of administrating medicines to pets such as ease & comfort and home treatment along with lesser visits to hospitals & clinics.

Based on the cancer type, the global pet cancer therapeutics industry is sectored into melanoma, mast cell cancer, lymphoma, mammary & squamous cell cancer, and others segments. Moreover, the mast cell cancer segment, which accumulated a huge share of the global industry in 2022, is slated to lead the global industry over the projected timespan. The segmental growth over the assessment timeline can be subject to a rise in the occurrence of mast cell cancers in pets.   

Based on the species type, the global pet cancer therapeutics market is divided into cats, dogs, and others segments. Moreover, the dogs segment, which dominated the segment in 2022, is predicted to dominate the global market share in the upcoming years. The segmental surge over the predicted timespan can be due to a rise in the occurrence of cancer in dogs due to inbreeding.

Pet Cancer Therapeutics Market: Report Scope

Pet Cancer Therapeutics Market: Regional Insights

North American market is anticipated to retain its numero uno position over the expected timeline

The growth of the pet cancer therapeutics market in the North American sub-continent over the forecast timeline is due to the huge presence of reputed industry participants in countries like the U.S. Additionally, a large-scale product penetration as well as product innovation to effectively treat various kinds of pet cancers will elevate the market growth over the estimated timeline. Apart from this, a rise in spending on veterinary care of pets by pet owners and supportive government guidelines related to research on pet cancer in countries such as the U.S. will proliferate the regional market size.

Asia-Pacific pet cancer therapeutics industry is set to register the fastest CAGR in the next couple of years due to the presence of key players in the developing countries of the region.

Pet Cancer Therapeutics Market: Competitive Space

The global pet cancer therapeutics market profiles key players such as:

• Karyopharm Therapeutics Inc.
• Zoetis
• Oasmia Pharmaceuticals AB
• Zenoaq
• AB Science
• Aratana Therapeutics Inc.
• Rhizen Pharmaceuticals SA
• Morphogenesis Inc.
• Boehringer Ingelheim International GmbH
• Regeneus Ltd.
• VetDC Inc

The global pet cancer therapeutics market is segmented as follows:

By Route of Administration

• Parenteral
• Oral
• Others

By Cancer Type

• Melanoma
• Lymphoma
• Mammary & squamous cell cancer
• Mast cell cancer
• Others

By Species Type

• Cat
• Dog
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa