Pet Cancer Therapeutics Market to Reach USD $0.64 Billion by 2029 at 10.6% CAGR
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The Business Research Company’s Pet Cancer Therapeutics Global Market Report 2025 - Market Size, Trends, And Global Forecast 2025-2034
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What Is The Expected Cagr For The Pet Cancer Therapeutics Market Through 2025?
There has been swift expansion in the market size of pet cancer therapeutics in the past few years. The market value, which stands at $0.39 billion in 2024, is projected to escalate to $0.43 billion in 2025, marking a compound annual growth rate (CAGR) of 10.6%. Factors responsible for this notable growth during the historic period include an increase in pet adoption, advancements in veterinary medical science, heightened consciousness about pet health, treating pets as family members, and the broadening of veterinary services.
In the forthcoming years, the market size for pet cancer therapeutics is anticipated to expand swiftly, reaching a value of $0.65 billion in 2029 with a compounded annual growth rate (CAGR) of 10.6%. The upswing during the projection period can be linked to the increasing older pet population, refinement in cancer care, surge in veterinary oncology services, pet insurance and healthcare schemes, and international proliferation of pet care services. Looking ahead, the predicted significant trends include the emergence of nutraceuticals and combined therapies, enhanced access to targeted diagnostic tests, partnership between veterinary and human oncology sectors, debut of innovative chemotherapeutic drugs, and an expanding awareness and education among pet owners.
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What Are Key Factors Driving The Demand In The Global Pet Cancer Therapeutics Market?
The pet cancer therapeutics market is predicted to expand owing to a rise in pet healthcare expenditure. The funds spent on veterinary services, medicines, and other healthcare costs for pets constitute pet healthcare expenditure. The escalating expenditure in pet healthcare indicates the escalating tendency of pet owners to prioritize their pets' health, potentially leading to amplified demand for pet cancer therapeutics. As per the 2023 State of the Industry Report by the North American Pet Health Insurance Association (NAPHIA), a pet health insurance association based in the US, the total count of insured pets in the US reached 4.8 million at the end of 2022, marking a 22% growth from 2021. As a result, the larger pet healthcare expenditure is fuelling the pet cancer therapeutics market.
Which Companies Are Currently Leading In The Pet Cancer Therapeutics Market?
Major players in the Pet Cancer Therapeutics 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
What Are The Future Trends Of The Pet Cancer Therapeutics Market?
Top firms involved in the pet cancer therapeutics market are leveraging technologies such as epigenetic technology to boost the effectiveness and precision of cancer cell targeting, thereby enhancing the results for pets battling cancer. This technology pertains to procedures that alter gene expression without altering the DNA sequence itself, often impacting cellular behavior and potential therapy outcomes. An example of this is VolitionRx Limited, a multinational epigenetics company based in the US, which in April 2024, unveiled the Nu.Q Vet Cancer Test. This test works with the Element i+ Analyzer to provide rapid results, usually within approximately 6 minutes. It employs an enzyme-linked immunosorbent assay to identify circulating nucleosomes in the blood, which may denote the existence of cancer.
Global Pet Cancer Therapeutics Market Segmentation By Type, Application, And Region
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
View the full pet cancer therapeutics market report:
https://www.thebusinessresearchcompany.com/report/pet-cancer-therapeutics-global-market-report
Which Region Holds The Largest Market Share In The Pet Cancer Therapeutics Market?
In 2024, North America led the pet cancer therapeutics market in size and shows promising projected growth. The market report includes regions such as North America, Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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