Veterinary CROs Market Opportunities and Forecast to 2027 By Top companies Clinvet, Klifovet Ag, Löhlein and Wolf Vet Research, Oncovet Clinical Research, Ondax Scientific, Triveritas

The market for veterinary CROs is expected to grow, owing to factors such as increasing animal healthcare expenditure. Moreover, development opportunities in emerging countries are likely to have a positive impact on the growth of the market in coming years. Clinical trials segment led the market in 2019, and is expected to retain its dominance during the forecast period from 2020 to 2027.

The veterinary CROs market was valued at US$ 710.81 million in 2019 and is expected to grow at a CAGR of 9.3% from 2019 to 2027 to reach US$ 1,440.15 million by 2027.

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Leading companies operating in the veterinary CROs market are Charles River Laboratories, Inc., Clinvet, Klifovet Ag, Löhlein and Wolf Vet Research, Oncovet Clinical Research, Ondax Scientific, Triveritas, Veterinary Research Management (VRM) LTD, VetPharm, Inc., Vetspin SRL among others.

The animal health sector is on a growth path, propelled by the rise of pet ownership and a global population hungry for meat and dairy products. A rise in outsourcing activities by pharmaceutical companies, animal husbandries or household pets has been witnessed during recent years in great expenditure. This trend has been seen as a plan to remain competitive and flexible in a veterinary CRO market of exponential growth, sophisticated technologies, and an unstable economic environment. Companies generally outsource R&D tasks which include a broad range of activities such as, fundamental research to late-stage development: hit exploration and lead optimization, target validation, genetic engineering, assay development, safety and efficacy tests in animal models, and clinical trials which involve animals.

Clinical trials segment captured the largest share in the global veterinary CROs market. clinical trials Clinical trials for veterinary medical products refer to a study of the effects of medical drugs or products on target animal species with an objective to assess its efficacy, safety, absorption, distribution, metabolism, and excretion. These trials are needed to be conducted in the justifiable means of veterinary medicines with sufficient information available regarding the product’s analytical and behavioral properties. Veterinary clinical studies aim to improve scientific knowledge to find effective and best ways for prevention, diagnosis, and disease treatment of various conditions affecting animals.

The report segments Global Veterinary CRO Market as follows:

Global Veterinary CROs Market - By Service Type

Clinical Trials
Toxicology
Market Authorization and Regulatory Support
Others
Global Veterinary CROs Market - By Application

Pet
Livestock
Wild
Global Veterinary CROs Market - By Indication

Oncology
Infectious Diseases
Neurology
Others
Global Veterinary CROs Market - By End User

Biopharmaceutical Companies
Others

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