Pet Cancer Therapeutics | Worldwide Market Forecasts to 2024 Featuring Elanco, AdvaVet, ELIAS Animal Health, Virbac Boehringer Ingelheim, and More - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 14, 2019--
The “Pet Cancer Therapeutics Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The growing prevalence of several types of cancers in cats and dogs, as well as an increase in R&D initiatives regarding cancer management in animals, is contributing to the growth of the market. In addition to the aforementioned factor, growing pet health awareness and rise in R&D initiatives regarding pet cancer management are expected to propel market growth over the forecast period. However, side effects caused by drugs used for the treatment of pet cancers, the reluctance of pet owners to put their pet animals under medication is expected to restrain the pet cancer therapeutics market.
Key Market Trends
Cancers in Dogs are Expected to Lead the Market
Dogs get cancer at about the same rate as humans, while cats get fewer cancers. Some breeds or families of dogs have a higher incidence for developing cancer at an earlier age, but in most cases, it’s a disease found in aging animals. According to the Veterinary Cancer Society, cancer is the leading cause of death in 47% of dogs, especially those that are over age 10, and also in 32% of cats. In addition, the growing pet health awareness and a rise in the R&D initiatives regarding pet cancer management are expected to propel the market growth, over the forecast period. For instance, in April 2019 Elanco has signed a development and commercialization agreement with VetDC for Tanovea-CA1, the first U.S. Food and Drug Administration (FDA) conditionally approved canine lymphoma treatment.
North America Dominates the Pet Cancer Therapeutics Market
North America is expected to retain its significant market share, owing to factors, such as rising pet adoption and increasing per capita animal healthcare expenditure. In addition, the rise in the prevalence of various animal diseases and injuries has been identified as the major factor fueling market growth. Approximately, 90 million dogs are owned in the United States, as per reported by the American Pet Products Association (APPA). In addition, the data published by APPA, in 2019, stated that the total pet healthcare expenditure is estimated to be USD 75.38 billion by the end of the year, while the expenditure in 2018 was USD 72.56 billion. North America also emphasizes on establishing proper skills among veterinary practitioners. Hence, all these factors are driving the growth of the pet cancer therapeutics market in North America.
The market players in the pet cancer therapeutics market are involving in various growth strategies such as collaborations, partnerships, agreements, mergers and acquisitions in order to enhance the market presence. For instance, In April 2019, Elanco Animal Health has signed an agreement to acquire Aratana Therapeutics, pet therapeutics company focused on developing and commercializing innovative therapeutics for dogs and cats and in Jan 2018, Aratana Therapeutics was granted conditional approval for its canine osteosarcoma vaccine, live Listeria vector (AT-014), by the USDA’s Center for Veterinary Biologics.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in R&D Initiatives for Cancer Management
4.2.2 High Prevalence of Cancer in Pets
4.3 Market Restraints
4.3.1 Side Effects Associated with Pet Cancer Therapy
4.3.2 High Cost of Treatment
4.4 Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Therapy
5.1.2 Radiation therapy
5.1.4 Other Therapies
5.2 By Animal
5.2.3 Other Animals
5.3 By Application
5.3.2 Mast Cell Cancer
5.3.4 Mammary and Squamous Cell Cancer
5.3.5 Other Applications
5.4.1 North America
184.108.40.206 Rest of Europe
5.4.3 Asia Pacific
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.4.4 Middle East and Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle East and Africa
5.4.5 South America
188.8.131.52 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.2 AdvaVet Inc.
6.1.3 ELIAS Animal Health
6.1.5 Boehringer Ingelheim GmbH (Merial)
6.1.6 Morphogenesis Inc.
6.1.7 Radiology Oncology Systems
6.1.8 Regeneus Ltd
6.1.9 VetDC Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/5xu2cq
View source version on businesswire.com:https://www.businesswire.com/news/home/20191114005541/en/
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INDUSTRY KEYWORD: VETERINARY HEALTH
SOURCE: Research and Markets
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PUB: 11/14/2019 10:23 AM/DISC: 11/14/2019 10:23 AM