Industry Background:
Over the past few decades, global pet cancer prevalence has been increased drastically, which will ultimately upsurge the demand for Pet Cancer Therapeutics. In addition to this, increasing spending on Animal care and growing awareness and routine checkups for the animals will ultimately upsurge the demand for the same. Moreover, the inclusion of technologically advanced therapies such as Chemotherapy, Targeted Therapy, Combination Therapy, Immunotherapy, and many others will create vigorous opportunities for pet cancer treatments.
According to AMA, the market for Pet Cancer Therapeutics is expected to register a CAGR of 12.76% during the forecast period to 2026. This growth is primarily driven by Upsurging Investments in Animal Care and Increasing Prevalence of Pet Cancer across the Globe.
Globally, a noticeable market trend is evident Increasing Technological Enhancements In Treatments for Mast Cell Cancer and Melanoma
. The Diseases & Therapeutic Areas sector in the North Amercia region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Aratana Therapeutics Inc (United States), AB Science (France), Boehringer Ingelheim International GmbH (Germany), Nippon Zenyaku Kogyo Co.Ltd. (Japan), Morphogenesis Inc. (United States), VetDC, Inc. (United States), Karyopharm Therapeutics Inc. (United States), Rhizen Pharmaceuticals SA (Switzerland), Regeneus Ltd (Australia) and Oasmia Pharmaceutical AB (Sweden) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
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.
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. Moreover, in Jan 2018, Aratana Therapeutics has been granted conditional approval for its canine osteosarcoma vaccine, Live Listeria Vector(AT-014), by the USDA's Center for Veterinary Biologics.
Regulatory Insights:
The government of the United States has mandated to register the pet care pharmaceutical products as well as other pesticide products with the US Environmental Protection Agency (EPA) and with each state where the product is sold.
Market Drivers
- Upsurging Investments in Animal Care
- Increasing Prevalence of Pet Cancer across the Globe
Market Trend
- Increasing Technological Enhancements In Treatments for Mast Cell Cancer and Melanoma
- Introduction to Internet / Mobile Pet Care will Simplify Pet Care Treatments
Restraints
- Lack of Awareness from the Underdeveloped Regions
- Escalating Prices for Cancer Treatment Products across the Globe
Opportunities
Improved Pet Care Infrastructure across Emerging Economies and Favorable Government Reimbursement in Pet Cancer Therapeutics
Challenges
Stringent Government Regulations related to Cancer Therapeutics Development
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Pet Cancer Therapeutics Study Sheds Light on
The Pet Cancer Therapeutics Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Pet Cancer Therapeutics industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Pet Cancer Therapeutics industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.