Immunotherapy-based Pet Cancer Therapeutics Market Size (2024 – 2030)

The Global Immunotherapy-based Pet Cancer Therapeutics Market was estimated to be worth USD 6.12 billion in 2023 and is projected to reach a value of USD 12.95 billion by 2030, growing at a CAGR of 11.3% during the forecast period 2024-2030.

Pet cancer therapy are specialized medical procedure and medication intended for the diagnosis, treatment, and management of cancer in animals, mostly in dogs and cats. These medications may comprise chemotherapy, radiation therapy, immunotherapy, targeted therapies, and palliative care, just like human cancer treatments. These treatments are given by veterinary oncologists to treat various forms of cancer in animals and enhance their quality of life. As veterinary medicine develops, the accessibility and efficacy of pet cancer therapies have grown, enabling pet owners to obtain thorough and considerate care for their cherished animal companions who have been diagnosed with cancer.

Key Market Insights:

The U.S. Food and Drug Administration (FDA) has given the green light to Boehringer Ingelheim International GmbH's cutting-edge medication, NexGard PLUS. This game-changing development in veterinary medicine provides a chewable pill created especially to protect dogs from both internal and exterior parasites. Afoxolaner, moxidectin, and pyrantel are only a few of the tablet's potently effective active components. Together, they function synergistically to offer thorough defense against prevalent parasitic dangers.

With the FDA's clearance of Bexacat (bexagliflozin tablets), a renowned animal health firm, Elanco Animal Health Incorporated, celebrated a ground-breaking accomplishment. Being the first of its type oral treatment option for feline diabetes, Bexacat represents a significant advancement. This ground-breaking drug fills an unmet medical need in the veterinary sector by introducing a fresh strategy for controlling diabetes in cats. Bexacat, which is available as simple-to-use tablets, offers a viable alternative to standard insulin injections for veterinarians and pet owners to use in managing feline diabetes.

A substantial advancement in the field of oncolytic virotherapy was revealed by ELIAS Animal Health LLC, a top biotechnology business that specializes in cancer therapies for pets. The company's cutting-edge Oncolytic Vaccinia Virus Treatment has been successfully licensed by Genelux Corporation under an exclusive in-license. This ground-breaking method uses a modified form of the vaccinia virus to find and kill cancer cells in companion animals. This therapy offers a fresh strategy to treat different kinds of pet cancers by making use of the virus's innate capacity to proliferate and infect cancer cells while protecting healthy tissues.

Global Immunotherapy-based Pet Cancer Therapeutics Market Drivers:

Growing the human-animal relationship and pet ownership can help the industry grow:

The market for pet cancer therapies has been significantly influenced by the increase in pet ownership and the growing human-animal affinity. These companion animals are frequently regarded as valued family members as more homes adopt pets. Because of this emotional bond, pet owners feel a strong feeling of obligation to protect the welfare and health of their furry friends. As a result, there is a rising readiness among pet owners to spend money on cutting-edge cancer therapies to cure the illness and improve the quality of life for animals. Due to pet owners' desire to provide their animals with the finest care possible, there is a rising need for efficient cancer therapies that can lessen pain and extend the lives of patients.

Modern technical developments will push the market growth:

Recent technical advancements have been made possible thanks to ongoing research and study in animal oncology and therapy. The discovery of anticancer medications, improving their effectiveness, and minimizing any potential negative effects on a pet's health are given top priority. Additionally, organizations like the Animal Cancer Foundation, Petco Foundation, PetCure Oncology Veterinary Cancer Society, and others are collaborating to create tailored anti-cancer therapies and treatments with the fewest possible negative side effects. Additionally, more research funding is being approved in the area of animal oncology for the creation of ground-breaking cancer treatments with fewer side effects.  To identify effective therapies for both human and canine cancers, this research funding prioritized performing research and exploratory investigations to look into the similarities between malignancies in humans and dogs. Its primary goal was to promote and speed up cancer treatment research.

Global Immunotherapy-based Pet Cancer Therapeutics Market Challenges:

The market's expansion may be hampered by high treatment costs:

The high cost of pet cancer therapies is a major inhibitor in the worldwide market for cancer medications. Pet owners may be financially burdened by the high costs of tests, operations, radiation therapy, and medicines. Many pet owners may find it difficult to acquire sophisticated cancer treatments due to the expense, which may force them to choose the amount of care for their animals that they can afford. Because of this, pricing continues to be a major problem, affecting market dynamics and the accessibility of these medicines despite rising awareness and demand for pet cancer medications.

Global Immunotherapy-based Pet Cancer Therapeutics Market Opportunities:

Growing veterinary healthcare expenditure can fuel the market growth:

Spending habits on veterinary care have significantly changed as the concept of pets has evolved from that of simple animal companions to that of beloved family members. More people than ever before are ready to spend a significant amount of money to make sure their dogs have long and healthy lives. The rise in spending on pet cancer therapies has been attributed to rising awareness of the many cancer therapy choices and a desire to offer the best possible care. To tackle the disease and enhance their pets' general health and happiness, owners are prepared to spend money on the newest and most potent cancer therapies. The market for pet cancer treatments is further driven by the increase in veterinary healthcare spending, which opens up new avenues for research, invention, and the creation of cutting-edge cancer treatment alternatives for animals.

IMMUNOTHERAPHY-BASED PET CANCER THERAPEUTICS MARKET REPORT COVERAGE:

Global Immunotherapy-based Pet Cancer Therapeutics Market Segmentation:

Global Immunotherapy-based Pet Cancer Therapeutics Market Segmentation: By Route of Administration

• Oral
• Injection

The oral method of administration category had the greatest market share for immunotherapy-based pet cancer therapies in 2022 by 47%. This is attributed in the report to the availability of several oral immunotherapy solutions, such as pills, capsules, liquids, etc., as well as the comfort, simplicity, and affordability of oral administration.

With a CAGR of 10.2%, the injectable method of administration category is anticipated to have the fastest growth in the market for immunotherapy-based pet cancer therapies over the course of the projected period. The better effectiveness, quicker onset of action, decreased risk of adverse effects, and growing use of sophisticated injectable technologies, such as intratumoral injection devices and subcutaneous injection devices, are among the causes cited in the paper.

Global Immunotherapy-based Pet Cancer Therapeutics Market Segmentation: By animal

• Dogs
• Cats

Dogs dominate the market for pet cancer therapies worldwide, outselling cats and other animals. This is because dogs make up a higher share of the population of pets with cancer and are diagnosed with the disease more frequently than cats and other pets by 52%. Additionally, compared to owners of other animals, dog owners are more ready to seek out and pay for cancer therapy for their cherished dogs. Dogs and humans also have more genetics in common than cats do, which has prompted increased research and development into canine cancer treatments, supporting the industry.

The sector that is likely to increase the quickest is cats by 39%. This may be because cats live longer than many other types of pets, which increases their vulnerability to age-related illnesses like cancer. Additionally, a bigger population of prospective patients has been created by the steady global growth in the number of cats. There is also a greater need for specialized therapies as a result of improvements in feline healthcare and diagnostics that have made it simpler to identify and treat cancer in cats.

Global Immunotherapy-based Pet Cancer Therapeutics Market Segmentation: By Application

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

Among the aforementioned applications, lymphoma commands the largest and most dominant share of the global pet cancer treatment market by 38%. Numerous causes contribute to this dominance. Both dogs and cats can develop lymphoma, one of the most prevalent cancers in pets, and it frequently responds well to various forms of therapy. Additionally, developments in veterinary oncology have produced successful treatments, such as chemotherapy regimens created especially for pets with lymphoma. The frequency of this form of cancer and the comparatively greater success rates both contribute to its leading position in the market.

Melanoma is also the cancer with the quickest rate of growth by 24%. There are several causes for this. Both dogs and cats can develop the skin cancer melanoma, which has become more common in recent years. The skin health of pets is being monitored by pet owners more closely, which has enhanced early identification and treatment. Furthermore, improvements in veterinary oncology have led to more efficient and focused therapy for pet melanoma. The pet cancer therapeutics market's melanoma category is expanding due to the desire for specialized therapies for this ailment.

Global Immunotherapy-based Pet Cancer Therapeutics Market  Segmentation: By Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East and Africa

Due to rising pet adoption, rising per capita spending on veterinary care, an increase in the incidence of pet cancers, the presence of a strong healthcare infrastructure facility, and the presence of major market players in the region, the North American region is likely to dominate the pet cancer therapeutics industry by 48%. Dogs are kept as pets by almost 90 million Americans, according to data from the American Pet Products Association (APPA). The region's market for pet cancer therapies will develop tremendously as more people become aware of pet ailments and how to manage their healthcare.

However, the Asia-Pacific area is now thought to be the market with the quickest rate of growth for cancer treatments for pets. Numerous variables contribute to its expansion by 33%. Asia-Pacific nations, particularly China and India, where the middle class is growing and disposable income is rising, have a booming pet-owning culture. The need for cutting-edge cancer treatment alternatives for animals is growing as pet owners in the area become increasingly concerned about the health and wellness of their animals. Moreover, the development of the pet healthcare industry, particularly cancer therapies, is being aided by rising pet health awareness and the availability of specialized veterinary care.

COVID-19 Impact on Global Immunotherapy-based Pet Cancer Therapeutics Market:

Due to changes in the veterinary healthcare system, the pet cancer treatment market grew at a significantly slower rate during the COVID-19 pandemic. Pet owners in a research reported delayed or missing veterinarian care for their animals in several nations, which hampered veterinary services, according to the Global Animal Health Association 2020 report. Pet owners adopted pet drugs in the meanwhile to secure the well-being of their pets, which fueled demand for pet medications to shield animals from chronic ailments. The animal healthcare system benefited from the seamless services provided by many animal welfare organizations, which also helped to advance therapies for pet care.

Global Immunotherapy-based Pet Cancer Therapeutics Market Recent developments:

Due to expanding pet ownership and the human-animal link, there is a growing inclination among pet owners to invest in cutting-edge medical procedures, including cancer therapy, to protect the health of their animal companions. This will spur market expansion throughout the projection period. Additionally, the occurrence of cancer in dogs is rising due to better diagnostic tools and longer life spans, which has increased the need for efficient and specialized therapies. In addition, the industry has grown as a result of several developments in veterinary oncology and research, such as the creation of more specialized and creative cancer treatments for animals. Additionally, the availability and advantages of pet cancer treatments are becoming more widely known among pet owners, which has facilitated early identification and intervention, driving the market's expansion. Additionally, the development of specialized veterinary oncology facilities and the growing partnerships between veterinary and human oncologists that enhance accessibility and knowledge in pet cancer treatment are fostering market expansion.

Key Players:

1. AB Science
2. Boehringer Ingelheim International GmbH
3. Elanco Animal Health Incorporated
4. ELIAS Animal Health LLC
5. Karyopharm Therapeutics
6. Pfizer Inc.
7. Regeneus Ltd.
8. Rhizen Pharmaceuticals AG
9. Torigen Pharmaceuticals Inc.
10. VetDC Inc.
11. Virbac
12. Zoetis Inc.

• In July 2022: Petco Love, a nationwide nonprofit organisation, donated USD 35,000 to Fort Wayne Animal Care and Control. The funding was provided to help the FWACC save the lives of animals in Fort Wayne.
• In June 2022: As part of a long-standing collaboration with the Cornell University College of Veterinary Medicine, Petco Love donated USD 75,000 as a donation to help cover the expense of cancer treatments for dogs and cats.