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Worldwide Pet Cancer Therapeutics Industry to 2027: Increasing Awareness Regarding Pet Healthcare and Treatments Drives Growth
Dublin, Feb. 24, 2023 (GLOBE NEWSWIRE) -- The "Pet Cancer Therapeutics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Therapy (Surgery, Radiotherapy, Chemotherapy, Immunotherapy, Others), By Animal Type, By Cancer Type, By Company, and By Region" report has been added to ResearchAndMarkets.com's offering.
The global pet cancer therapeutics market is anticipated to observe an impressive growth during the forecast period, 2023-2027.
Companies Mentioned
C.H. Boehringer Sohn Ko. KG
ELIAS Animal Health, LLC
Zoetis Inc.
AB Science S.A.
Karyopharm Therapeutics, Inc.
Vivesto AB
Merial Inc.
Elanco Animal Health, Inc.
Dechra Pharmaceuticals PLC (Anivive Lifesciences)
Torigen Pharmaceuticals Inc.
The major factors include growing consciousness of pet's health and increasing incidences of cancer among animals. Cancer in pets is one of the primary reasons for death, globally. Nowadays, pets have better chances to get diagnosed with cancer due which early adoption of treatment plans are required, which bolster the growth of the market.
The other factors supporting the market's growth are rise in pet ownership or animal adoption, advancement in diagnostic techniques and rise in R&D initiatives. Additionally, heavy investments in research and development activities coupled with oncology treatment and management in pets offers lucrative opportunities to the market players in upcoming years.
Increasing Awareness regarding Pet Healthcare and Treatments
The increasing domestication of animals and growing concerns regarding pet health among the people are supporting the market growth. In 2021, number of pet dogs owned worldwide was 471 million. People are becoming more thoughtful about their pet's health and are expending generously on the best available animal therapeutics. Average American yearly spending on pet dogs is estimated to be USD 1201.
In addition, growing pet's health awareness programs is augmenting the growth of the market. For instance, the Blue Buffalo Foundation and the Pet Cancer Awareness Program (PCA) are some initiatives which raise awareness and provide information to the pet parents.
Increasing Prevalence of Cancer
The growing prevalence of cancer among pet animals, is a contributing factor for the growth of the market. Cancer is one of the key causes of death in pets, mostly in dogs that are older than 10 years.
According to the Veterinary Cancer Society, in 2017, cancer was the foremost cause of death in 47% of dogs, especially those that are over the age of 10, and 32% of cats. Leukemia and lymphoma are very common cancer in cats and certain breeds of elderly dogs. In 2017, Animal Cancer Foundation published a study, which revealed approximately around 25% of all dogs will develop a tumor at some point in their life.
Technological Advancements
Various technological advancements, such as the development of highly targeted and specific cures for animal cancer treatment with minimal side effects, are also supporting the market growth. Increasing R&D initiatives for cancer management is propelling the market growth, as various anti-cancer therapies are launching for veterinary cancer treatment.
Report Scope:
In this report, global pet cancer therapeutics market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Pet Cancer Therapeutics Market, By Therapy:
Surgery
Radiotherapy
Chemotherapy
Immunotherapy
Others
Pet Cancer Therapeutics Market, By Animal Type:
Canine
Feline
Others
Pet Cancer Therapeutics Market, By Cancer Type:
Lymphoma
Mast Cell Cancer
Mammary & Squamous Cell Cancer
Others
Pet Cancer Therapeutics Market, By Region:
North America
United States
Canada
Mexico
Asia-Pacific
China
India
Japan
Australia
South Korea
Europe & CIS
Germany
France
United Kingdom
Spain
Italy
South America
Brazil
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE
For more information about this report visit https://www.researchandmarkets.com/r/m49r58-cancer?w=12
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