The veterinary pharmaceutical companies are focusing on strategic collaborations to develop and commercialize cancer treatments for companion animals. For instance, in 2017, Karyopharm and Anivive Lifesciences entered into an exclusive global license agreement to research, develop, and commercialize Verdinexor (KPT-335), a drug for the treatment of lymphoma, which is in phase 2b of clinical trials. The U.S. FDA Center for Veterinary Medicine (CVM) has found effectiveness and safety technical sections for Verdinexor complete to support conditional approval under a New Animal Drug Application (NADA) for the treatment of canine lymphoma and granted the Minor Use Minor Species (MUMS) designation to the drug candidate. Also, in 2016, Zenoaq, a Japan-based animal health company collaborated with Nexvet to form a research partnership for the development of monoclonal antibodies (mAbs) for canine cancer treatment.
Increasing prevalence of cancer indicates a need to adopt approved novel therapies, which are proved to be highly effective for the treatment of cancers in pets, thus, augmenting the pet cancer therapeutics market growth during the forecast period. According to the study by Fetch a Cure, 2015, dogs and cats have a higher incidence of tumors than humans, where dogs are 35 times more likely to develop skin cancer, 4 times more likely to develop breast tumors, and 8 times more likely to develop bone cancer. According to the study published by Animal Cancer Foundation, 2017, approximately around 25% of all dogs will develop a tumor at some point in their life. Furthermore, increasing number of relapsed cancer rates and the availability of relapsed/ refractory therapeutics integrated with veterinarian recommendation is expected to additionally generate the revenue for the market players. According to the study by petMD, LLC, 2015, about 95% of dogs treated for lymphoma with chemotherapy protocols and conventional treatments are expected to experience disease relapse or remission. The duration of remission is less than 15 months in 50% of dog species. In 2017, a novel chemotherapy drug named Tanovea-CA1 (rabacfosadine for injection), manufactured by VedDC, Inc. was conditionally approved by the FDA as a first line treatment for dogs to treat relapsed/refractory lymphoma and canine lymphoma. The conditional approval of drug allows manufacturer to legally sell Tanovea-CA1, before proving it meets the substantial evidence standard of effectiveness for full approval.
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Key Takeaways of the Pet Cancer Therapeutics Market:
The global pet cancer therapeutics market is expected to exhibit a CAGR of 7.7% over the forecast period, owing to the presence of high potential market, rising incidence of pet cancers, and increasing pet adoption rates in Europe, Asia Pacific, and Latin America
Among therapy type, chemotherapy segment holds a dominant position in the pet cancer therapeutics market, owing to the easy availability of the drugs, high recommendation by the veterinary doctors for opting chemotherapy, and high number of chemotherapeutic drugs present in the product portfolio of the manufacturers
Among pet type, dog segment holds a dominant position in the pet cancer therapeutics market owing to the higher cancer prevalence in the species as compared to the other pets and higher number of cancer treatments available for dogs in the global market.
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