The global sales of pet cancer therapeutics are estimated to be worth USD 400.9 million in 2024 and are anticipated to reach a value of USD 898.6 million by 2034. Sales are projected to rise at a CAGR of 8.4% over the forecast period between 2024 and 2034. The revenue generated by pet cancer therapeutics in 2023 was USD 371.6 million.
The heightened incidence of pet cancer significantly fuels the growth in the pet cancer therapeutics market, a moment of renaissance for veterinary medicine. It is true that just like human beings, pets show an increased incidence of cancer due to genetic predisposition and environmental pollutants.
Increased awareness has been raised for both the owners of the pets and veterinarians themselves in underlining the need for effective treatment specific to companion animals.
Global Pet Cancer Therapeutics Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2023 | USD 371.6 million |
| Estimated Size, 2024 | USD 400.9 million |
| Projected Size, 2034 | USD 898.6 million |
| Value-based CAGR (2024 to 2034) | 8.4% |
Where diagnoses of cancer are increasingly found in household pets, so too does the demand increase for advanced therapeutic answers. On the front lines in that battle are the veterinary oncologists working to improve diagnostic capabilities and targeted treatments which address those specific types of cancers found in pets.
Innovation in therapies including chemotherapy, immunotherapy, and targeted molecular treatments are aimed at improving survival rates, but also importantly at improving the quality of life for pets undergoing treatment.
On the front lines are the veterinary oncologists working to improve diagnostic capabilities and targeted treatments which address those specific types of cancers found in pets.
Personalized medicine in veterinary oncology has become the new frontier in the evolution of treatments. A genetic profile and characteristics of the tumor unique to an individual pet are useful variables to the veterinarian in designing a tailored treatment plan, maximizing effectiveness, and minimizing side effects.
Such a personalized approach optimizes not only treatment outcomes but also is emerging as one of the steps toward compassionate and individualized care for the companion animals. Early diagnosis forms the basis of saving the lives of affected pets.
This increasing incidence of cancer in pets further facilitates the collaboration between veterinary and pharmaceutical industries. Researchers, veterinarians, and biotechnology companies can partner in letting innovation continue developing new therapies.
Such collaboration will be highly important in overcoming the challenges that treatment accessibility and affordability will increasingly face, demanding effective and humane treatments for pets diagnosed with cancer.
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The above table presents the expected CAGR for the global pet cancer therapeutics market over several semi-annual periods spanning from 2024 to 2034. In the first half (H1) of the decade from 2023 to 2033, the business is predicted to surge at a CAGR of 9.1%, followed by a slightly decline in growth rate of 8.8% in the second half (H2) of the same decade.
| Particular | Value CAGR |
|---|---|
| H1 | 9.1% (2023 to 2033) |
| H2 | 8.8% (2023 to 2033) |
| H1 | 8.4% (2024 to 2034) |
| H2 | 7.9% (2024 to 2034) |
Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to decrease slightly to 8.4% in the first half and decrease moderately at 7.9% in the second half. In the first half (H1) the market witnessed a decrease of -70.00 BPS while in the second half (H2), the market witnessed a decrease of -90.00 BPS.
Increased Consumer Spending on Veterinary Care Drives the Growth of the Pet Cancer Therapeutics Market.
With the increasing numbers of pet owners, total spend on veterinary care surges, which markedly boosts expenditure per pet.
This increase in consumer spending for veterinary care reflects almost an unconscious shift in societal attitude towards pets. Most often, pets are more than just animals and are considered part of the family-thus worthy of complete health care. Increased awareness thus reflects in how preventive medicine, advanced treatments, and specialized care can help safeguard the well-being and long life of beloved companions.
The projected USA pet industry expenditures for 2024 are forecasted to rise from USD 147.0 billion in 2023 to USD 150.6 billion. Estimated sales for 2024 break out as: Pet Food & Treats, USD 66.9 billion; Supplies, Live Animals & OTC Medicine, USD 32.0 billion; Veterinary Care & Product Sales, USD 39.1 billion; Other Services, USD 12.6 billion.
This rise in consumer spending in relation to veterinary care underlines the changed role that pets play in our lives and a raising awareness that they are important members of our families. With the actions of a responsible owner who wants better health for his or her furry pet, demand for advanced treatments and specialized care just keeps on growing.
However, it is concerns of affordability and accessibility which are all-important to ensure that all pets receive the full healthcare they need to thrive. With the rise in consumer spending on veterinary care, the pet cancer therapeutics market is anticipated to generate more revenue.
The Rising Adoption of Pets Fuels the Expansion of the Pet Cancer Therapeutics
Higher adoption of pets is one of the major drivers of the pet cancer therapeutics market. Increasingly, pet adoption across the world results in higher demand for all associated veterinary services, including cancer care.
Nowadays, pets are regarded as family members whose part of life is no different from the rest of their owners' lives. This change in thinking has increased the number of families owning them-for instance, dogs, cats, and sometimes even exotic pets. With this increasing trend in pet-keeping, there comes a need for qualified and entire veterinary care, including cancer treatments.
This higher spending on the health of pets includes not only regular follow-ups and vaccinations but also costly medical treatments. Dietary care is an important component of this investment, most particularly for those pets that are prone to nutritional problems. Their owners are ready to make any kind of investments in the health of their pets, hence leading to growing demand for cancer treatments.
Increasing adoption of pets is one of the major drivers for the pet cancer therapeutics market. Growing popularity of pets, increased spending on pet health, heightened awareness, advancements in veterinary medicine, and expansion of veterinary practices and pet insurance act together in accelerating the demand for cancer therapeutics.
The Adoption of Pet Insurance Is Playing a Pivotal Role in Fueling the Growth of the Pet Cancer Therapeutics Market
Pet insurance provides a financial safety for owners by covering some of the vet costs associated with diagnostics, treatments, surgery, and medication for cancer. With increased awareness by pet owners of what the costs of full veterinary care could be, particularly for chronic and complicated diseases like cancer, the need for financial protection has been heightened.
Insurance provided by pet insurance policies motivates owners to frequently seek out the services of a veterinarian, as well as preventive measures of care, all of which are very important in early detection. Early diagnosis improves prognosis and treatment outcomes in pets noticeably. Pet insurance policies encourage earlier intervention by lessening the financial obstacles that would hinder timely attention or diagnostic tests from taking place.
Many of these pet insurance policies cover innovative, advanced treatments, including targeted therapies, immunotherapies, and even clinical trial participation. This not only opens up more treatment options for pets with diagnosed cancers but also furthers the science in veterinary oncology.
In the process, it creates a much more proactive approach in cancer management and enhances the quality of care for pets by facilitating such state-of-the-art treatments.
Pet insurance helps raise the standard of care for pets diagnosed with cancer by mitigating financial barriers to care. It allows pets, through taking proactive action, not only to be treated for their physical condition but also for their emotional and psychological well-being, which translates into less stress for both pets and owners.
Ethical Considerations Serve as A Major Restraint On the Pet Cancer Therapeutics Market by Imposing Treatment Limits
One of the major ethical considerations regarding the pet cancer therapeutics market is related to animal welfare and ethical consideration. Cancer treatments, whether surgical, chemotherapeutic or radio therapeutic, can be very invasive and result in high levels of pain, stress, and suffering in animals.
The principle of "do no harm" is probably an ethical precept of veterinary practice; the extension of life runs contrary to this, but often that is desired by the animal owners. Veterinarians must weigh the capability of an animal to achieve a significant life through treatment against possible pain and poor quality of life.
This decision-making process is further complicated by the emotional attachment between owners and pets, and sometimes results in pursuing treatments which are not in the best interest of the animal. Unlike humans, pets cannot verbally communicate their discomfort or consent to treatment.
This opens up ethics questions as to the degree to which heavy-duty treatments should be pursued, particularly if the prognosis is grim or the treatment may only marginally extend the life of the pet.
IACUCs are responsible for overseeing animal research in institutions. While they ensure compliance with animal welfare standards, their focus is primarily on laboratory animals.
Ethical considerations are a major restraint on the pet cancer therapeutics market, influencing decisions at every stage-from the development of new treatments to their administration and marketing.
Principal Consultant
The global pet cancer therapeutics industry recorded a CAGR of 6.8% during the historical period between 2019 and 2023. The growth of pet cancer therapeutics industry was positive as it reached a value of USD 371.6 million in 2023 from USD 284.0 million in 2019.
The growth in this pet cancer therapeutics market is high, arising from improved veterinary medicine, increased longevity of pets, and an increasing trend among pet owners to invest in the health of their pets. Historically, the options for treatment were limited to surgery, with some uses of radiation and basic chemotherapy.
As technology improved for diagnosis, there was a shift in this market to newer more sophisticated treatments, targeted therapies, immunotherapies, and personalized medicine.
The future of cancer treatments for pets looks bright, as that continuous creativity will result in more effective and less invasive treatments reaching the market. One could also expect more widespread availability of new treatments, such as precision medicine-as described, a treatment tailored to the particular genetic profile of a pet-and advanced immunotherapy.
This segment's growth is expected to be enabled by increasing awareness of pet cancer, upgraded diagnostic capabilities, and an increase in R&D investment in veterinary treatments. New therapies, including gene editing therapy and innovative biologics, will further enhance the treatment outcome. Despite these advances, ethical consideration, cost, and accessibility challenges continue to temper the market's growth.
Tier 1 companies comprise market leaders with a market revenue of above USD 100 million capturing significant market share of 63.2% in global market. These companies are targeting further market exposure through new geographical regions and diversified product offerings.
This includes targeting emerging markets within Asia-Pacific that are recording growth in disposable incomes and improving pet ownership that boosts demand for advanced veterinary services. Prominent companies in tier 1 include Zoetis, Inc., Boehringer Ingelheim Animal Health and Elanco Animal Health.
Tier 2 companies include mid-size players with revenue of USD 50 to 100 million having presence in specific regions and highly influencing the local market and holds around 23.0% market share. They typically pursue partnerships with academic institutions and research organizations to leverage emerging technologies and expedite product development.
These companies often emphasize agility and adaptability, allowing them to quickly bring new treatments to market, sometimes targeting specific types of cancer or rare conditions. Additionally, they focus on cost-effective production methods to offer competitive pricing. Prominent companies in tier 2 include Dechra Veterinary Products and Virbac
Finally, Tier 3 companies, such as Vetoquinol and Chemovet. They specialize in specific products and cater to niche markets, adding diversity to the industry.
Overall, while Tier 1 companies are the primary drivers of the market, Tier 2 and 3 companies also make significant contributions, ensuring the pet cancer therapeutics sales remains dynamic and competitive.
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The section below covers the industry analysis for the pet cancer therapeutics market for different countries. Market demand analysis on key countries in several regions of the globe, including North America, Asia Pacific, Europe, and others, is provided. The United States is anticipated to remain at the forefront in North America, with higher market share through 2034. In Asia Pacific, India is projected to witness a CAGR of 11.4% by 2034.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| USA | 9.1% |
| Germany | 8.7% |
| China | 11.3% |
| France | 10.6% |
| India | 11.4% |
| Spain | 8.2% |
| Australia & New Zealand | 8.0% |
| South Korea | 9.7% |
USA pet cancer therapeutics market is poised to exhibit a CAGR of 9.1% between 2024 and 2034. Currently, it holds the highest share in the North American market, and the trend is expected to continue during the forecast period.
American pet owners represent one of the largest spending segments in the category of pet care, which includes dietary supplements. Spending is driven by a growing focus on pet wellness and preventive care.
Also, the USA is the headquarters for many key players in the pet cancer therapeutics market; thus, it offers innovative treatment availability and development, such as targeted therapies and immunotherapies. In addition, the presence of stern regulatory bodies like the FDA further assures that treatments will lie within high standards of safety and efficacy, thus driving more consumers toward trust and adoption.
Currently, a significant share of households in the United States own pets, so the USA is a lucrative and growing market for pet cancer therapeutics.
China’s pet cancer therapeutics market is poised to exhibit a CAGR of 11.3% between 2024 and 2034. Currently, it holds the highest share in the East Asia market, and the trend is expected to continue during the forecast period.
The growth of the biotechnology industry in China, coupled with government policies, has favorably positioned the country as an attractive location for therapeutic manufacturing companies in the veterinary oncology segment.
The companies in the country are regularly participating in developing and manufacturing cancer therapeutics for pets with the support of advanced technologies and research capabilities. These low-cost productions by the domestic manufacturers make treatments relatively efficient and more accessible to a greater mass.
At the same time, strategic focusing on innovation by Chinese authorities encourages enhanced investment in research and development, often in collaboration with leading academic institutions and international partners. This has facilitated the introduction of new cancer therapies tailored to the specific needs of the local market.
These companies not only improve the accessibility of cancer treatments for pets within the country but also position China as a significant exporter of veterinary therapeutics to multiple other markets, adding to its influence within the global pet healthcare industry.
India’s pet cancer therapeutics market is poised to exhibit a CAGR of 11.4% between 2024 and 2034. Currently, it holds the highest share in the South Asia & Pacific market, and the trend is expected to continue during the forecast period.
The pet adoption of India has been increasing, with more families taking up pets and including them as part of their families. This growth in the adoption has, in turn, fueled demand for pet cancer therapeutics.
With more people in India realizing the benefits of dietary addition in their pet's life for providing better health and condition, there is now a huge and ever-growing market for special products addressing joint health, digestive support, and general vitality.
veterinary healthcare infrastructure is fast developing in India. There is a development observed in veterinary clinics, hospitals, and diagnostic facilities. All these developments provide much support for the use and adoption of pet cancer therapeutics.
The section contains information about the leading segments in the industry. By drug class, the chemotherapy drugs segment holds the highest market share of 37.3% in 2024.
| By Drug Class | Chemotherapy Drugs |
|---|---|
| Value Share (2024) | 37.3% |
The maximum share in the market segmentation of pet cancer therapeutics by drug class has been obtained by chemotherapeutic drugs, as the use of chemotherapeutic drugs has been going on for quite a long period, and accordingly, these types of drugs have also become very effective for treating numerous types of cancers in pets.
Chemotherapeutic drugs target the rapidly dividing cells, thereby forming a staple choice for veterinarians while dealing with any tumor types in pets, such as lymphoma, mast cell tumors, and osteosarcoma.
Various applications, availability, and established protocols solidify its dominance. Further, chemotherapy upfront or in addition to other treatments such as surgery or radiation enhances its market share.
Recent developments in safety and tolerability have also further enhanced such drugs for pets, ensuring superior outcomes and greater owner acceptance.
| By Formulation | Injectable |
|---|---|
| Value Share (2024) | 59.4% |
Injectable formulations are dominating the pet cancer therapeutics market owing to their effectiveness, precision, and fast therapeutic action. In cancer treatment, timely and appropriate administration of the drug is a very crucial factor, and Injectables allow veterinarians to ensure that proper doses get directly into the bloodstream for quicker and more controlled therapeutic effects.
This mode of administration is quite ideal in cases where oral medications may be futile or just not practical. This includes pets that have problems swallowing pills or pets with gastrointestinal issues that impede drug absorption.
Injectables also allow the infusion of higher levels of drugs, which are usually necessary to target the tumor aggressively in the treatment of cancer. The good thing about an injectable delivery form is that it allows dosing flexibility-be it a single dosing event or series dosing over time-according to the pet's need. This could explain why it is more favored by oncologists and why it is an allowed fit in the market of injectable domination.
The market players are using strategies to stay competitive, such as product differentiation through innovative formulations, strategic partnerships with healthcare providers for distribution. Another key strategic focus of these companies is to actively look for strategic partners to bolster their product portfolios and expand their global market presence.
Recent Industry Developments in Pet Cancer Therapeutics Market
In terms of drug class, the industry is divided into- chemotherapy drugs (doxorubicin (adriamycin), carboplatin, cisplatin, vincristine, lomustine (CCNU), cyclophosphamide, methotrexate, vinblastine, chlorambucil and other chemotherapy drugs). Nonsteroidal anti-inflammatory drugs (carprofen, meloxicam, other NSAIDs). Steroids- (prednisone, other steroid). Antiemetics- (ondansetron, other antiemetics). Monoclonal antibodies, immunomodulators, radiopharmaceuticals, tyrosine kinase inhibitors and bisphosphonates.
In terms of formulation, the industry is segregated into injectable- (injectable solution, powder for injection). Oral- (tablet (regular), orally disintegrating tablets, capsule).
In terms of application, the industry is segregated into cancer therapeutics, pain management and antiemetic therapeutics.
In terms of animal, the industry is segregated into dogs, cats and other animal.
In terms of cancer, the industry is segregated into- lymphoma (lymphosarcoma), mast cell tumors, osteosarcoma and other cancer.
In terms of distribution channel, the industry is segregated into- institutional sales (specialty veterinary hospitals, veterinary clinics, veterinary oncology centers). Retail sales (compounding pharmacies, online veterinary pharmacies)
Key countries of North America, Latin America, Western Europe, Eastern, South Asia, East Asia and Middle East and Africa (MEA) have been covered in the report.
The global pet cancer therapeutics market is projected to witness CAGR of 8.4% between 2024 and 2034.
The global pet cancer therapeutics industry stood at USD 371.6 million in 2023.
The global pet cancer therapeutics market is anticipated to reach USD 898.6 million by 2034 end.
India is set to record the highest CAGR of 11.4% in the assessment period.
The key players operating in the global Pet Cancer Therapeutics Market include Zoetis Inc, Boehringer Ingelheim Animal Health, Elanco Animal Health, Virbac, Vetoquinol, Dechra Veterinary Products, Chemovet, AB Science and Nova Vive.
1. Executive Summary
2. Industry Introduction, including Taxonomy and Market Definition
3. Market Trends and Success Factors, including Macro-Economic Factors, Market Dynamics, and Recent Industry Developments
4. Global Market Demand (Value in USD) and Volume (Units) Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections
5. Global Market - Pricing Analysis
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034
6.1. By Drug Class
6.2. By Formulation
6.3. By Application
6.4. By Animal Type
6.5. By Cancer Type
6.6. By Distribution Channel
6.7. By Region
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Drug Class
7.1. Chemotherapy Drugs
7.1.1. Doxorubicin (Adriamycin)
7.1.2. Carboplatin
7.1.3. Cisplatin
7.1.4. Vincristine
7.1.5. Lomustine (CCNU)
7.1.6. Cyclophosphamide
7.1.7. Methotrexate
7.1.8. Vinblastine
7.1.9. Chlorambucil
7.1.10. Other Chemotherapy Drugs
7.2. Nonsteroidal Anti-inflammatory Drugs (NSAIDs)
7.2.1. Carprofen
7.2.2. Meloxicam
7.2.3. Other NSAIDs
7.3. Steroids
7.3.1. Prednisone
7.3.2. Other Steroid
7.4. Antiemetics
7.4.1. Ondansetron
7.4.2. Other Antiemetics
7.5. Monoclonal Antibodies
7.6. Immunomodulators
7.7. Radiopharmaceuticals
7.8. Tyrosine Kinase Inhibitors
7.9. Bisphosphonates
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Formulation
8.1. Injectable
8.1.1. Injectable Solution
8.1.2. Powder for Injection
8.2. Oral
8.2.1. Tablet (Regular)
8.2.2. Orally Disintegrating Tablets
8.2.3. Capsule
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application
9.1. Cancer therapeutics
9.2. Pain Management
9.3. Antiemetic therapeutics
10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Animal
10.1. Dogs
10.2. Cats
10.3. Other Animal Type
11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Cancer
11.1. Lymphoma (Lymphosarcoma)
11.2. Mast Cell Tumors
11.3. Osteosarcoma
11.4. Other Cancer Type
12. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Distribution Channel
12.1. Institutional Sales
12.1.1. Specialty Veterinary Hospitals
12.1.2. Veterinary Clinics
12.1.3. Veterinary Oncology Centers
12.2. Retail Sales
12.2.1. Compounding Pharmacies
12.2.2. Online Veterinary Pharmacies
13. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
13.1. North America
13.2. Latin America
13.3. Western Europe
13.4. Eastern Europe
13.5. South Asia
13.6. East Asia
13.7. Middle East & Africa
14. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
15. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
16. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
17. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
18. South Asia & Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
19. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
20. Middle East and Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
21. Sales Forecast 2024 to 2034 by drug class, by formulation, by application, by animal, by cancer and by distribution channel Form for 30 Countries
22. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
23. Company Profile
23.1. Zoetis Inc
23.2. Boehringer Ingelheim Animal Health
23.3. Elanco Animal Health
23.4. Virbac
23.5. Vetoquinol
23.6. Dechra Veterinary Drug Classs
23.7. Chemovet
23.8. AB Science
23.9. Nova Vive
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Pet Cancer Therapeutics Market
