Pet Cancer Therapeutics Market Size, By Therapy (Chemotherapy, Immunotherapy, Targeted Therapy, Combination Therapy), By Route of Administration (Oral, Injection), By Species (Dogs, Cats), By Application (Lymphoma, Mast Cell Cancer, Melanoma, Mammary, and

Pet Cancer Therapeutics Market Size, By Therapy (Chemotherapy, Immunotherapy, Targeted Therapy, Combination Therapy), By Route of Administration (Oral, Injection), By Species (Dogs, Cats), By Application (Lymphoma, Mast Cell Cancer, Melanoma, Mammary, and Squamous Cell Cancer), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023 - 2032

Global Pet Cancer Therapeutics Market is speculated to grow considerably through 2032 owing to the surging pet care expenses. Moreover, the rising awareness among pet owners regarding the health and well-being of animals has further bolstered industry growth.

The demand for pet cancer therapies is expanding globally due to the rising prevalence of pet cancers including lymphoma and melanoma, among many others. Also, the growing propensity of pet owners to spend money on animal healthcare is raising the need for cancer treatments for pets, particularly in industrialized nations.

In addition, the leading industry players are seeking to strengthen their position in the market through strategic partnership and collaboration. For instance, in June 2021, Boehringer Ingelheim and WEHI announced their partnership to explore and design anti-cancer therapies via a tailored protein degradation mechanism. The alliance enabled the firm to combine its knowledge of biology, therapeutic targeting, protein degradation, and drug discovery to focus on cancer-causing proteins.

The pet cancer therapeutics market has been divided in terms of therapy, route of administration, species, application, and region.

Based on therapy, the targeted therapy segment is expected to amass more than USD 163 million in market valuation by 2032. The rising use of personalized therapy and current advances are the primary drivers behind robust segmental growth. Additionally, it is anticipated that pet oncology R&D capabilities will improve the various companies’ potential. Those developments are predicted to significantly accelerate market expansion.

With respect to application, the melanoma segment is set to attain sizable growth over the review period. The upsurge in melanoma cases amongst pets is the key rendering factor fueling business growth. According to the National Centers for Biotechnology Information (NCBI), canine melanoma, which made up 14.4% to 45.5% of all oral cancers in dogs in 2017, was thought to be the most common oral malignancy.

From the regional outlook, the Asia Pacific pet cancer therapeutics market is estimated to surpass over USD 47 million valuation by 2032 attributed to the increased prevalence of cancer among pets as well the skyrocketing pet care costs in the region. As per the statistics on China’s pet industry in 2020, the pet dog adoption in the country has exceeded 52.22 million. Moreover, tumor has stood as a common disease in pet dog, with prevalence ranging from 0.282% to 1.701%.