April 14, 2020
According to the research report titled ‘Pet Cancer Therapeutics Market Size By Medicine Type, By Species, By Cancer Type, Industry Analysis Report, Regional Outlook , Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, pet cancer therapeutics market is expected to surpass USD 359.4 million by the year 2025.
Escalating pet healthcare expenditure in tandem with willing to spend for pet care are driving the growth of pet cancer therapeutics market. Growing pet population and rising number of pet owners are further aiding the market expansion.
As per medicine type, chemotherapy drugs segment is expected to amass USD 211 million by the year 2025. Presence of variety of medicines for controlling tumor growth along with shifting preference towards intravenous administration or oral administration is fueling the segmental growth.
In terms of species, market share from dogs segment is presumed to expand substantially during the estimated timeframe. Growing inclination towards dogs as companion pets along with rising prevalence of cancer in dogs is fostering the demand for dog cancer therapeutics.
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The report states that lymphoma cancer segment is expected to expand with a CAGR of 19.1% during 2019-2025. Availability of products for treating lymphoma is contributing towards the growth of overall market.
As per regional analysis, the UK pet cancer therapeutics industry is predicted to be worth USD 14.3 million by the year 2025. Easy availability of pet cancer vaccines and rising development of novel vaccines are promoting the business scenario in United Kingdom.
Meanwhile, pet cancer therapeutics industry in China will showcase a growth rate of 12.6% between 2019 and 2025, cites the report. Rising adoption of dogs as pets, improving per capita income and increased pervasiveness of cancer among canines are favoring China market outlook.
The prominent companies operating in pet cancer therapeutics industry are Karyopharm Therapeutics, Regeneus, VetDC, Vetivax, AB Science, Aratana Therapeutics, Merial and Zoetis among others.
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