Immunotherapy-based Pet Cancer Therapeutics Market Research Report - Segmentation By Route of Administration (Oral, Injection); By Animal (Dogs, Cats); By Application (Lymphoma, Mast Cell Cancer, Melanoma, Mammary, Squamous Cell Cancer, Others); and Region - Size, Share, Growth Analysis | Forecast (2024 2030)

Market Overview

The Global Immunotherapy-based Pet Cancer Therapeutics Market, estimated at USD 6.1295 billion in 2023, is anticipated to reach USD 12.97 billion by 2030, demonstrating a growth rate of 11.3% during 2024-2030. Pet cancer therapy encompasses specialized procedures and medications tailored for diagnosing, treating, and managing cancer in animals, primarily dogs and cats. These treatments, administered by veterinary oncologists, mimic human cancer therapies, including chemotherapy, radiation, immunotherapy, targeted therapies, and palliative care. The evolution of veterinary medicine has expanded the accessibility and effectiveness of these therapies, enabling comprehensive care for pets diagnosed with cancer.

Key Market Developments

The U.S. FDA approval of innovative medications like NexGard PLUS by Boehringer Ingelheim International GmbH and Bexacat by Elanco Animal Health Incorporated represents pivotal milestones in veterinary medicine. NexGard PLUS offers a chewable pill protecting dogs from internal and external parasites, while Bexacat presents a novel oral treatment for feline diabetes, addressing an unmet need in managing this condition among cats. Additionally, ELIAS Animal Health LLC's Oncolytic Vaccinia Virus Treatment, licensed by Genelux Corporation, signifies a breakthrough in oncolytic virotherapy, leveraging a modified vaccinia virus to target and eliminate cancer cells in companion animals, presenting a fresh approach to treating various pet cancers.

Market Drivers

The surge in pet ownership and the deepening bond between humans and animals significantly influence the pet cancer therapy market. As pets are increasingly considered integral family members, owners exhibit a strong commitment to ensuring their well-being, driving the demand for advanced cancer therapies to alleviate suffering and extend their pets' lives. Furthermore, ongoing technological advancements propelled by research in animal oncology aim to enhance the efficacy of anticancer medications while reducing adverse effects, supported by collaborative efforts from various organizations dedicated to tailored cancer treatments for animals.

Market Challenges

Despite increasing awareness and demand for pet cancer therapies, the high costs associated with treatments remain a substantial impediment to market growth. The financial burden on pet owners for tests, surgeries, radiation, and medications often limits access to advanced cancer treatments, forcing difficult decisions about the level of care they can afford for their pets. Pricing concerns persist, influencing market dynamics and the availability of these medications.

Market Opportunities

Evolving perceptions of pets as cherished family members have transformed veterinary healthcare expenditure, with more individuals willing to invest significantly in ensuring their pets' well-being. This shift in spending patterns reflects a growing awareness of diverse cancer therapy options and a willingness to invest in the latest and most effective treatments. Increased spending on pet cancer therapies fosters avenues for research, innovation, and the development of advanced cancer treatments for animals, propelling growth in the pet cancer therapeutics market.

Market Segmentation

By Route of Administration

Oral

Injection

In 2023, the oral route of administration held the largest market share (47%) for immunotherapy-based pet cancer therapies due to the availability of diverse oral solutions and the convenience, ease, and cost-effectiveness of oral administration. Over the forecast period, the injectable method is projected to exhibit the fastest growth (CAGR of 10.2%), attributed to its higher efficacy, quicker onset, reduced adverse effects, and advancements in injectable technologies.

By Animal Segmentation 

Dogs

Cats

Dogs currently dominate the global pet cancer therapy market, constituting a higher share of pets diagnosed with cancer compared to cats and other animals (52%). This dominance stems from increased willingness among dog owners to seek and finance cancer therapy, along with genetic similarities between dogs and humans, prompting extensive research into canine cancer treatments. Cats, however, are expected to grow at a faster rate (39%) due to their longer lifespan and the expanding population of cats globally, resulting in increased demand for specialized cancer treatments.

By Application Segmentation

Lymphoma

Mast Cell Cancer

Melanoma

Mammary

Squamous Cell Cancer

Others

Lymphoma holds the largest market share (38%) among pet cancer therapies due to its prevalence in both dogs and cats, favorable response to various treatments, and specific chemotherapy regimens tailored for this condition. Meanwhile, melanoma is experiencing the fastest growth (24%) owing to its increasing occurrence in pets, improved vigilance by pet owners in monitoring skin health, and advancements in veterinary oncology leading to more effective therapies.

Regional Segmentation

North America

Asia-Pacific

Europe

South America

Middle East and Africa

North America is expected to dominate the pet cancer therapeutics market (48%) due to higher pet adoption rates, increased spending on veterinary care, a robust healthcare infrastructure, and a substantial population of dog owners. Conversely, the Asia-Pacific region is poised for the fastest growth (33%) fuelled by a burgeoning pet-owning culture in nations like China and India, coupled with rising disposable income, driving demand for advanced cancer treatments for pets.

COVID-19 Impact

The COVID-19 pandemic slowed the growth of the pet cancer treatment market due to disruptions in veterinary services globally. However, pet owners resorted to pet medications amidst delayed veterinarian care, bolstering demand for medications to safeguard animal health. Animal welfare organizations played a vital role in providing seamless services and advancing pet care therapies during this period.

Recent Developments

A growing trend among pet owners to invest in advanced medical procedures, including cancer therapy, for their pets is expected to drive market growth. Additionally, the rise in cancer incidence in dogs, coupled with advancements in veterinary oncology, specialized treatments, and increased awareness among pet owners, is propelling the market forward. Collaborations between veterinary and human oncologists are further enhancing accessibility and knowledge in pet cancer treatment, fostering market expansion.

Key Players:

• AB Science
• Boehringer Ingelheim International GmbH
• Elanco Animal Health Incorporated
• ELIAS Animal Health LLC
• Karyopharm Therapeutics
• Pfizer Inc.
• Regeneus Ltd.
• Rhizen Pharmaceuticals AG
• Torigen Pharmaceuticals Inc.
• VetDC Inc.
• Virbac
• Zoetis Inc.

In July 2022, Fort Wayne Animal Care and Control received a generous donation of USD 35,000 from Petco Love, a national nonprofit organization. The funding aimed to support FWACC's efforts in saving the lives of animals within the Fort Wayne area.

In June 2022, Petco Love continued its ongoing partnership with Cornell University College of Veterinary Medicine by contributing USD 75,000. This donation was specifically allocated to assist in covering the expenses associated with cancer treatments for dogs and cats, reinforcing their commitment to supporting veterinary care and research initiatives.