Press release
Veterinary CRO Market Till 2027: Identifies the Key Drivers of Growth Opportunities, Major Competitors and Challenges of the Key Industry Players Forecast
Veterinary CRO Market
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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The List of Companies
Charles River Laboratories, Inc.
Clinvet
Klifovet ag
Löhlein and Wolf Vet Research
Oncovet Clinical Research
Ondax Scientific
Triveritas
Research Management (Vrm) Ltd
Vetpharm, Inc.
Vetspin Srl
Market Insights
Rising in Animal healthcare expenditures
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. In 2016 The total US pet industry spending is estimated to reach $69.36 billion, up from $66.75 billion. According to American Pet Products Association's 2019-2020 National Pet Owners Survey, the North American Pet Health Insurance Association (NAPHIA) announced that the U.S. and Canada pet health insurance market posted a combined gross paid premium of 1.42 billion dollars in 2018, up from 1.15 billion dollars in 2017. At the end of 2018, the total number of covered pets hit 2.43 million, up by more than 17 per cent from 2017. Therefore, rise in animal health care expenditure is giving rise in Veterinary CRO market during forecast period.
Research report has been compiled by studying the market in-depth along with drivers, opportunities, restraints & other strategies as well as new-developments that can help a reader to understand the exact situation of the market along with the factors that can limit or hamper the market growth and the report also has been updated with Impacts & effects of Coronavirus pandemic and how it has influenced consumer behavior & the growth of the market as well as industries.
The COVID-19 outbreak is currently going the world over, the Veterinary CRO Market report covers the impact of the corona-virus on top company’s growth. This research report categorizes as the key players in the Veterinary CRO market and also gives a comprehensive study of Covid-19 impact analysis of the market by regions like (Americas, Europe APAC, and EMEA).
The report offers key drivers that propel the growth in the global Veterinary CRO market. These insights help market players in devising strategies to gain market presence. The research also outlined the restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining the potential in untapped regions.
This report focuses on the global Veterinary CRO market with the future forecast, growth opportunity, key market, and key players. The study objectives are to present the Veterinary CRO market development in North America, Europe, China, Japan, Southeast Asia, India, and Central & South America.
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