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.
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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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