Pet Cancer Therapeutics Market Size, Share, and Trends 2024 to 2033

Pet Cancer Therapeutics Market Size and Growth 2024 to 2033

The global pet cancer therapeutics market size was valued at USD 407.15 million in 2023 and is anticipated to reach around USD 1,059.88 million by 2033, growing at a CAGR of 10.04% from 2024 to 2033.

Pet Cancer Therapeutics Market Key Takeaways

• The North America pet cancer therapeutics market size accounted for USD 289.08 million in 2023 and is expected to attain around USD 757.81 million by 2033, poised to grow at a CAGR of 10.11% between 2024 and 2033.
• North America dominated the market with the largest revenue share of 71% in 2023.
• Asia Pacific is observed to grow at a notable rate during the forecast period.
• By therapy, the chemotherapy segment dominated the market in 2023.
• By therapy, the immunotherapy segment is estimated to grow at the fastest rate during the forecast period.
• By application, the mast cell cancer segment is estimated to grow at the fastest rate during the forecast period.

U.S. Pet Cancer Therapeutics Market Size and Growth 2024 to 2033

The U.S. pet cancer therapeutics market size was estimated at USD 202.35 million in 2023 and is predicted to be worth around USD 534.26 million by 2033 with a CAGR of 10.19% from 2024 to 2033.

North America dominated the pet cancer therapeutics market in 2023. North America has one of the highest rates of pet ownership globally, with a significant portion of households owning dogs and cats. The area boasts advanced veterinary hospitals and specialty clinics with state-of-the-art diagnostic and treatment facilities, including oncology departments. North America is a hub for pharmaceutical research and development, leading to the development of innovative cancer therapeutics for pets. Regulatory agencies such as the FDA set high standards for veterinary drug approval, ensuring the safety and efficacy of the market. The U.S. accounts for a significant portion of the global market, owing to its large pet population and advanced veterinary healthcare system. Canada’s pet market is growing steadily, driven by increasing pet ownership rates and demand for danced veterinary care.

Asia Pacific is observed to grow at a notable rate in the pet cancer therapeutics market during the forecast period. Some governments in the Asia Pacific region are taking initiatives to improve animal health services, which includes promoting research and development in veterinary medicine and encouraging the establishment of veterinary healthcare facilities. Similar to trends seen in human medicine, the incidence of cancer in pets is rising, partly due to increased lifespans of pets resulting from better overall healthcare. This creates a greater need for effective cancer treatments.

The European region has seen a steady increase in pet ownership rates, particularly in urban areas. Veterinary oncology services are expanding in Europe, with specialized oncology centers and referral hospitals offering advanced cancer diagnostics and treatments. The European Medicines Agency (EMA) regulates veterinary drugs across EU member states, promoting harmonizing regulatory standards for pet cancer therapeutics. European countries emphasize personalized medicine approaches, leading to the development of companion diagnostics and targeted therapies for pets with cancer.

Pet Cancer Therapeutics Market Overview

The pet cancer therapeutics market encompasses pharmaceuticals, treatments, and healthcare services specifically designed to diagnose, manage, and treat cancer in pets, including dogs, cats, and other companion animals. The market for pet cancer therapeutics has been steadily growing due to increasing pet ownership rates, advancements in veterinary medicine, and rising awareness about pet health issues. The market size varies depending on factors such as geographic location, prevalence of pet cancer, and access to veterinary care. The market includes pharmaceutical companies, veterinary oncology clinics, research institutions, and diagnostic companies.

Significant players may develop and manufacture cancer drugs, diagnostic tests, and treatment equipment. Market dynamics may vary across regions, influenced by pet ownership rates, socioeconomic factors, and the availability of veterinary services. The market is expected to continue growing as the demand for advanced cancer treatments for pets increases and advancements in veterinary medicine and technology further improve treatment outcomes. Collaboration between stakeholders, including veterinary professionals, pharmaceutical companies, and regulatory bodies, will drive innovation and expand access to effective pet cancer care.

Pet Cancer Therapeutics Market Growth Factors

• Pets are increasingly considered family members, leading to higher spending on their healthcare needs, including cancer treatment. Pet owners are more willing to invest in advanced therapies to improve their pets’ quality of life and extend their lifespan.
• The rising trend of pet ownership globally, particularly in developed countries, leads to a larger population of pets requiring medical care, including cancer treatment, in the pet cancer therapeutics market.
• Similar to human medicine, veterinary oncology has seen significant progress in recent years. Advanced diagnostic tools, treatment modalities, and supportive care options have improved outcomes and extended the lifespan of pets with cancer.
• Pet owners are becoming more knowledgeable about the signs and symptoms of cancer in their pets, leading to increased awareness and proactive screening. Early detection allows for time intervention and better treatment outcomes.

Pet Cancer Therapeutics Market Scope

Pet Cancer Therapeutics Market Dynamics

Drivers

Increasing prevalence of cancers in dogs and cats

Factors such as aging populations, genetic predispositions, environmental exposures, and lifestyle changes contribute to the rising incidence of cancer in pets. Improved diagnostic techniques in the pet cancer therapeutics market allow for earlier and more accurate detection of cancers in dogs and cats, leading to a higher reported prevalence. Greater awareness among pet owners and veterinary professionals about cancer signs and symptoms prompts more frequent screening and diagnosis of pet cancers. This driver contributes to the market's growth by expanding the range of available treatment options, improving treatment outcomes, and enhancing the quality of life for pets with cancer. As investments in research and development continue to increase and awareness about pet cancer grows, the market is expected to further expand in the coming years.

Heavy investments in research and development

Ongoing research and development efforts lead to the discovery and development of novel cancer therapies specifically designed for pets. This includes targeted therapies, immunotherapies, and gene therapies. Continued investment in research facilities and the development of advanced diagnostic tools and techniques, such as molecular diagnostics, imaging modalities, and biomarker assays, enabling more accurate diagnosis and personalized treatment strategies. Investments in clinical trials and studies to evaluate the safety and efficacy of new cancer therapies in pets contribute to expanding treatment options and improving outcomes. Collaboration between pharmaceutical companies, academic institutions, veterinary professionals, and pet healthcare organizations accelerates research efforts and fosters innovation in the pet cancer therapeutics market.

Restraint

High treatment costs and lack of awareness

Cancer treatments for pets can be expensive, including surgery, chemotherapy, radiation therapy, and supportive care. The high costs involved may limit access to compressive cancer treatment for some pet owners. Similar to human cancer, pets may develop resistance to specific cancer treatments over time, leading to treatment failure or limited efficacy. This can pose challenges for veterinarians in managing advanced or recurrent pet cancers. Pet owners may face difficult decisions regarding the allocation of financial resources for cancer treatment, especially if faced with a poor prognosis or limited treatment options. Ethical considerations about the pet’s welfare and quality of life may influence treatment decisions.

Despite increasing awareness about pet cancer, some pet owners may still lack knowledge about the signs and symptoms of cancer in pets or the available treatment options. This can lead to delays in diagnosis and treatment, impacting treatment outcomes.

Opportunities

Technological advancements and personalized medicine

Continued advancements in medical technology in the pet cancer therapeutics market, such as molecular diagnostics, imaging techniques, and targeted therapies, offer opportunities to improve pet cancer's early detection, diagnosis, and treatment. Innovative technologies can enhance treatment efficacy and minimize adverse effects. The development of personalized cancer therapies tailored to individual pets' unique genetic and molecular characteristics holds great promise for improving treatment outcomes. Companion diagnostics can identify biomarkers that guide treatment decisions, allowing for more targeted and effective therapies.

Collaborative research initiatives and integration of telemedicine

Collaborations between veterinary professionals, pharmaceutical companies, academic institutions, and research organizations foster innovation and accelerate the development of a new pet cancer therapeutics market. Shared knowledge and resources can lead to breakthroughs in treatment options and improve patient outcomes. Integrating telemedicine and teleconsultation services allows for remote consultations between pet owners and veterinary oncologists, improving access to specialized care, particularly in underserved areas. Telemedicine can facilitate timely diagnosis, treatment planning, and follow-up care for pets with cancer.

Expansion of supportive care services and global expansion opportunities

There is an opportunity to expand supportive care services for pets undergoing cancer treatment. This includes pain management, nutritional support, palliative care, and integrative therapies to enhance the pet’s quality of life during treatment and improve treatment tolerance. The market presents opportunities for expansion into emerging markets with growing pet ownership rates. Developing countries with rising disposable incomes and increased awareness of pet health may offer untapped opportunities for market growth.

Therapy Insights

The chemotherapy segment dominated the pet cancer therapeutics market in 2023. Chemotherapy involves the use of drugs to kill cancer cells or slow their growth. It is a standard treatment modality for various types of pet cancers, including lymphoma, mast cell tumors, and osteosarcoma. Chemotherapy protocols are often tailored to the specific type and stage of cancer, as well as the pet’s overall health status. Chemotherapy for pets has shown a significant effect in the survival period. Chemotherapy also offers a balance for risk of adverse events.

The immunotherapy segment is estimated to be the fastest-growing segment during the forecast period. Immunotherapy harnesses the body’s immune system to recognize and attack cancer cells. Therapeutic vaccines, monoclonal antibodies, and immune checkpoint inhibitors are among the immunotherapeutic approaches being explored for pet cancer treatment.

Immunotherapy aims to enhance the immune response against cancer and may be used alone or in combination with other therapies. Targeted therapy involves drugs targeting cancer cells’ molecular pathways or genetic mutations. These drugs inhibit specific molecules or signaling pathways in cancer growth and progression. Targeted therapies are designed to be more selective and less toxic to normal cells than traditional chemotherapy.

Applications Insights

The mast cell cancer segment is expected to grow at the fastest rate during the forecast period. Imaging studies such as ultrasound or radiography are used to evaluate the extent of mast cell tumor involvement and identify potential metastasis to regional lymph nodes or other organs. Fine needle aspiration or incisional biopsy is performed to confirm mast cell tumor diagnosis and determine tumor grade and stage. Surgical excision with wide margins is the primary treatment for localized mast cell tumors. Mohs micrographic surgery may be employed to ensure complete tumor removal while preserving surrounding healthy tissue. Imaging studies such as radiography, ultrasound, or CT scans are used to evaluate the extent of melanoma involvement and identify potential metastasis to regional lymph nodes or distant organs in the pet cancer therapeutics market.

Pet Cancer Therapeutics Market Recent Developments

• In May 2023, a new drug for treating acute onset of canine pancreatitis was launched in the U.S. market.
• In June 2023, Union Minister Parshottam Rupala launched the Nandi portal, which promptly processes applications and grants non-objection certification (NOC) for veterinary drugs and vaccines.
• In August 2023, genetic modifications in animal models have permitted more efficient usage of animal models in basic research and therapeutic development.
• In February 2024, Elias Animal Health received federal regulatory approval for their canine cancer treatment.

Pet Cancer Therapeutics Market Companies

• AB Science
• Anivive Lifesciences
• Elanco Animal Health
• ELIAS Animal Health
• Merial Inc.
• NovaVive
• Qbiotics
• Zoetis Inc.

Segments Covered in the Report

By Therapy

• Chemotherapy
• Immunotherapy
• Targeted therapy
• Combination therapy
• Radiation therapy
• Surgery

By Applications

• Mast Cell Cancer
• Lymphoma
• Melanoma
• Mammary and Squamous Cell Cancer

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa