The increased prevalence of cancer in pets is fuelling the growth of the pet cancer therapeutics market. The demand for advanced treatment has risen from pet owners and veterinaries. Rising cancer incidence builds collaboration between veterinaries and pharmaceutical companies, which enhances the innovation in targeted molecular treatments, chemotherapy, and immunotherapies.
The pet cancer therapeutics market is generally driven by the high adoption rate of pets and high spending on pets' health like vaccinations as well as regular check-ups. The increased importance of preventive medicines, modern treatments, and specialized care is driving the expansion of the market.
The rising adoption of pet insurers is holding great future opportunities for market growth. Pet insurance helps owners to cover all expenses of better care of their pets. Insurance plans allow owners to provide early diagnosis and adoption of personalized medicines. Due to the availability of financial support, it is expected to influence market growth in the forecast period.
North America remains dominant in the pet cancer therapeutics market with increased awareness of pet safety among pet owners. The demand for dietary supplements and availability of pharmaceutical manufacturers and government regulations like the FDA are the major growth factors of the market. However, Asia Pacific is projected to witness large market growth in the upcoming period due to regional investment in R&D in oncology.
By Drug Class
By Formulation
By Application
By Animal
By Cancer
By Distribution Channel
Published by Rohan Patil
