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Market Description


Medical Markets

As the worldwide population of cancer patients steadily increases, it is critical to develop a highly-efficient, selective cancer cure.

According to the American Cancer Society Inc., Surveillance and Health Policy Research (2010) more than 1.5 million US residents are diagnosed with cancer annually and approximately 570 thousand die of cancer each year. From this number: there are 209 thousand new cases of breast cancer (which accounts for 40 thousand of deaths annually), 217 thousand of new cases of prostate cancer (which accounts for 40 thousand deaths annually), and 58 thousand new cases of kidney cancer (which accounts for 13 thousand deaths annually).

US residents alone spend more than $216 billion US dollars on anti-cancer drug treatments annually (data as of 2006).

Veterinary Market

The world market of animal medicine is 22 billion US dollars a year (data as of 2014), with a growth rate 5 to 6.5% per year. Over the past decade, the market growth of companion animal drugs was as significantly greater than that of farm animal medicines and comprised 34% of all veterinary medicine sales.

According to data from the «Vetbioprom» Association, the market capacity of veterinary drugs in Russia (including chemical and pharmaceutical preparations) is estimated at 170 million euro a year. In 2014, drugs for small pets composed 12% of all veterinary medicine sales. Furthermore, based off the previous few years,  the drug market for dogs and cats in Russia, Brazil and China is growing at a rate of 10 to 15% per year.

About 62% of households in the US own a cat or dog according to the American Pet product Association, and total spending for pet care by pet owners in the US was $55.5 billion US dollars in 2013, including $14.2 billion US dollars spent for veterinary care.

According to data from the Center for Cancer Research, the rate of cancer in pets is on the rise as they are living longer, and the likelihood of cancer increases with age. Approximately 1 in 4 dogs will be diagnosed with cancer at some point in their life, and about 50% of dogs over 10 years of age will likely die of cancer. Each year in the US, approximately 6 million new cancer diagnoses will be made in dogs and a similar number of new cancer diagnoses will be made in cats.
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