Mast Cell Tumors Treatment Market size is expected to reach US$ 5.1 Billion in 2022 | FMI Research

Mast Cell Tumors Treatment Market Overview (2022-2032)

The global mast cell tumors treatment market size is expected to reach US$ 5.1 Billion in 2022 and US$ 7.9 Billion in 2032. It is projected to exhibit growth at a remarkable CAGR of 3.6% in the forecast period from 2022 to 2032. The increasing diagnosis rate of this condition among pet animals is anticipated to spur the demand for mast cell tumors treatment options in the forthcoming years.

Mast cells are referred to as a type of white blood cell that is primarily found in several tissues of the body. These are considered to be allergy cells that play a significant role in the allergic response.

Mast cells often release compounds and chemicals, which is a process called degranulation when exposed to allergens. Histamine, which is one of the compounds, is commonly known to cause runny nose and eyes, sneezing, and itchiness.

A mast cell tumor, on the other hand, is a type of malignant tumor that forms nodules in the skin. It can also affect other parts of the body, such as the bone marrow, intestine, liver, and spleen. It is very common in dogs and most dogs living with this condition develop only one tumor.

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Which are Some Prominent Drivers Spearheading Mast Cell Tumors Treatment Market Growth?

The availability of data regarding the disease is projected to augment the global mast cell tumors treatment market growth in the assessment period. The treatment approach towards this disease is expected to improve with the easy availability of data.

In addition to that, increasing awareness regarding mast cell tumors through social media platforms, non-government and government agencies, and advocacy groups is set to accelerate the growth in this market. The improved treatment seeking rate and better rate of diagnosis are a couple of other factors that are likely to drive the market.

What are the Challenges Faced by the Mast Cell Tumors Treatment Industry?

In emerging countries, such as India, China, Indonesia, Brazil, and Iran, the lack of knowledge regarding various diseases affecting pet animals may hamper the sales of mast cell tumors treatment options. Also, people living in these countries may not be able to afford the expensive treatment options available in hospitals.

Why is North America Emerging as an Opportunistic Mast Cell Tumors Treatment Market?

The increasing prevalence of skin tumors in cats and dogs, especially in the U.S. and Canada is projected to bolster the North America mast cell tumors treatment market share in future years. As per the American College of Veterinary Surgeons (ACVS), mast cell tumors represent around 14–21% of all skin tumors that are diagnosed in dogs. Though these mainly occur in middle aged patients, these sometimes occur in patients of any age group.

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Governments of developed countries in this region are investing huge sums in clinical research activities to help companies in introducing cutting-edge treatment options. Currently, veterinary oncologists recommend surgery to cure lower-grade tumors, while higher-grade tumors are treated with a combination of chemotherapy and surgery.

How is Europe Contributing to Growth of the Mast Cell Tumors Treatment Market?

The rising prevalence of mast cell tumors in pet animals and the increasing awareness regarding the same in the U.K. and Germany are anticipated to bode well for the Europe mast cell tumors treatment market size. According to the 2021 PDSA Animal Wellbeing (PAW) Report, approximately 26% of the population in the U.K. own a dog with an estimated population of 9.6 million pet dogs. Also, 24% of the population in the country own a cat with an estimated population of 10.7 million pet cats. These numbers are likely to surge at a rapid pace, thereby boosting the regional market.

A study published in the National Center for Biotechnology Information (NCBI) mentions that between July 2007 and June 2013, electronic patient records from healthcare professionals participating in the VetCompass animal surveillance project in the U.K. were evaluated for the diagnosis of mast cell tumors. Out of 168,636 dogs, around 453 had this condition. Boxers, golden retrievers, and Weimaraners had the highest prevalence at 1.95%, 1.39%, and 0.85%, respectively. Spurred by the aforementioned factors, the market in Europe is anticipated to surge at a fast pace.

Market Competition

Some of the renowned companies present in the mast cell tumors treatment market include Merck & Co. Inc., Pfizer Inc., EPI Health, LLC, Teva Pharmaceutical Industries Ltd., Bausch Health Companies Inc., Novartis AG, Mylan NV, Bayer AG, Sanofi S.A., and Johnson & Johnson among others.

The global market is moderately competitive and houses numerous key players. With the surging prevalence of mast cell tumors, many companies are striving to come up with novel treatment methods. To do so, they are consistently investing huge sums in exhaustive research and development activities. Meanwhile, a few other start-up companies are aiming to enter the untapped areas to raise awareness and sell their new products to patients.

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Report Scope

Growth Rate

CAGR of 3.6% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Million, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

Regions Covered

Key Countries Profiled

Key Companies Profiled

Key Segments Profiled in the Mast Cell Tumors Treatment Industry Survey

By Drug Class:

By Route of Administration:

By Distribution Channel:

By Region:

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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