VETERINARY INFUSION PUMP MARKET ANALYSIS

Veterinary Infusion Pump MarketSize and Trends

The veterinary infusion pump market is estimated to be valued at US$ 76.89 Mn in 2017 and is expected to witness a robust CAGR of 5.6% during the forecast period (2017 - 2025).

Global Veterinary Infusion Pumps Market Value (US$ Mn) Comparison, By Pump Type

Source: Coherent Market Insights (2018)

Increasing incidence and remission rates of pet cancers is expected to foster growth of the veterinary infusion pump market

Increasing prevalence of cancer along with rise in relapsed cancer rates among animals, increasing demand for approved novel immunotherapies and targeted therapies, which are proved to be highly effective for the treatment of cancers in pets are some of the factors augmenting growth of the veterinary infusion pump market. 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, four times more likely to develop breast tumors and eight times more likely to develop bone cancer than humans. According to the study by Animal Cancer Foundation, 2017, around 25% of all dogs are projected develop a tumor at some point in their life, which supports the increasing demand for veterinary infusion pumps in the near future.

According to the study by PetMD, LLC. 2015, around 95% of dogs were 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 spite of the relapse rate associated with these medicines, veterinarians recommend other approved therapeutics for the cancer treatment of pets that is expected to additionally generate the revenue for the market players. For instance, in 2017, a novel chemotherapy drug named Tanovea-CA1 (rabacfosadine for injection), manufactured by VedDC, Inc. was conditionally approved by the Food and Drug Administration (FDA), as a first line treatment for dogs to treat relapsed/refractory lymphoma and canine lymphoma, which can be administered through the veterinary infusion pump.