The Global Pet Cancer Therapeutics Market is likely to grow in the coming years due to recent advances in molecular data that has contributed to genome sequencing. According to a report published by Fortune Business Insights, titled “Pet Cancer Therapeutics Market”, Share and Global Trend By Therapy (Chemotherapy, Radiation Therapy, Immunotherapy), By Animal Type (Canine, Feline, Equine), By Cancer Type (Mast Cell Cancer, Lymphoma, Melanoma), By Distribution Channel (Veterinary Hospitals & Clinical Pharmacies, Online Pharmacies, Retail Pharmacies), and Geography Forecast till 2026
As per the report, the market for pet cancer therapeutics is dominated by the mast cell cancer segment in terms of segmentation by cancer type among pets. This is because of the rise in prevalence of the mast cell cancer and easy availability of the drugs used for its treatment. Due to this reason, this segment is forecast to register the highest growth rate in the forecast period as well.
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North America Leading Leads the Global Market Due to Availability of Proper Healthcare Facilities for Pets
Geographically, the global pet cancer therapeutics market is anticipated to be dominated by North America andand the region is likely to continue its dominance in through the forecast period. This is owing to the increasing rate of pet adoption in the developed nations such as Canada and the U.S. This, coupled with the rising incidences of cancer in pets is a major factor boosting the market in the region. Additionally, the presence of well-established healthcare centers for pets in North America is also helping the market in the region generate greater revenues for pet cancer therapeutics market.
On the other side, the market for pet cancer treatment in Asia Pacific is anticipated to grow in the forecast period because of the rising incidences of pet adoption, increasing prevalence of pet cancer among pets and the need to provide them proper diagnostics. Besides this, government initiatives to spread awareness about pet diseases and their preventive measures taken by developing nations such as India are anticipated to help the regional market generate more revenue in the coming years.
Leading Players operating in the Pet Cancer Therapeutics Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Boehringer Ingelheim International GmbH
- ELIAS Animal Health
- Karyopharm Therapeutics
- Aratana Therapeutics, Inc.
- Regeneus Ltd
- VetDC and Zoetis Services LLC.
Recent discoveries in pharmaceuticals and drug delivery methods have boosted the global Pet Cancer Therapeutics Market. Increasing FDA approvals for drug used for manufacturing pharmaceuticals are likely to favor the growth of the global Pet Cancer Therapeutics Market. Besides this, advancements in drug delivery system have led to an increase in demand for related pharmaceuticals.
Rising Prevalence of Cancer Among Pets to Boost Market
Various factors are responsible for the global pet cancer therapeutics market to witness rapid growth in the coming years. The rising number of pet adoption cases worldwide is one of the major factors boosting the market. The rise in disposable incomes of people on the other side, has propelled themis encouraging them to opt for better medical services for their near and dear ones as well as their pets. The fact that people have more to spend made them opt for better therapeutic methods for their beloved pets as well is also driving the market.
As per the Animal Cancer Foundation, there are 35 million cats and 65 million dogs in the U.S., out of which 6 million of them are diagnosed with cancer. The Recent rise in disposable incomes of people, coupled with the advancements in diagnostic procedures, with eabetter sy accessibility to treatment, and improvedtreatment affordability are adding boost to the growth ofboosting the global pet cancer therapeutics market.
On the flipside, the rise in animal medical care expenses, and lack of diagnosis of certain cancer type in pets may cause hindrance to the market during the forecast period. This, coupled with the side effects related with post-treatment may also hamper the market in the coming years.
Frequently Ask Question :
- By Therapy
- By Animal Type
- By Cancer Type
- By Distribution Channel
- By Geography
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