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Veterinary CRO And CDMO Market Trends, Top Companies, Share, Growth And Forecast 2032
Veterinary CRO And CDMO Market
The Business Research Company's Veterinary CRO And CDMO Global Market Report 2023 identifies increasing animal healthcare investments as the major driver for the veterinary CRO and CDMO market's growth in the forecast period.Investments in animal healthcare have been increasing in recent years due to the growing awareness of the importance of animal health and the expanding demand for veterinary services and products, hence contributing to the growth of the veterinary CRO and CDMO market.
The global veterinary CRO and CDMO market is expected to grow from $5.86 billion in 2022 to $6.44 billion in 2023 at a compound annual growth rate (CAGR) of 9.99%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The veterinary CRO and CDMO market is expected to reach $9.03 billion in 2027 at a CAGR of 8.80%.
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Major competitors in the veterinary CRO and CDMO market are Labcorp Drug Development India Private Limited, Zoetis Inc., Eurofins Scientific SE, Pharmaceutical Product Development Inc., Syneos Health Inc., Charles River Laboratories Inc., IDEXX Laboratories Inc., Elanco India Private Limited., Inotiv Inc., Promega Corporation, Aenova Group, Sai Life Sciences Ltd., Taconic Bioscience Inc., Avid Bioservices Inc., Frontage Laboratories Inc.
A key trend in the veterinary CRO and CDMO market includes product innovations. Companies operating in the veterinary CRO and CDMO markets are focusing on product innovations to sustain their position in the market. For instance, in June 2022, Vetio, a US-based Contract Development and Manufacturing Organization (CDMO) dedicated to animal health, has been granted an Intention to Grant by the European Patent Office (EPO) and a Notice of Allowance by the United States Patent Office (USPTO) for its Starch-Free Soft Chew designed for veterinary applications. Vetio's Soft Chew Technology platform, specifically developed for animal health, is excellently tailored to deliver one or more active ingredients in a high-quality dosage form suitable for veterinary pharmaceutical use. Vetio's innovative composition and manufacturing process is free from starch and added water, making it highly suitable for moisture-sensitive active ingredients.
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The veterinary CRO and CDMO market is segmented -
• By Service Type: Discovery, Development, Manufacturing, Packaging And Labeling, Market Approval And Post-marketing
• By Animal Type: Companion Animals, Livestock Animals
• By Application: Medicines, Medical Devices, Pharmaceuticals, Biologics, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.North America was the largest region in the veterinary CRO and CDMO market.
The Business Research Company's "Global Veterinary CRO And CDMO Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Veterinary CRO And CDMO Market Include:
1. Executive Summary
2. Veterinary CRO And CDMO Market Characteristics
3. Veterinary CRO And CDMO Market Trends And Strategies
4. Veterinary CRO And CDMO Market - Macro Economic Scenario
5. Global Veterinary CRO And CDMO Historic Market Size and Growth, 2017 - 2022, Value ($ Billion)
……
32. Global Veterinary CRO And CDMO Market Competitive Benchmarking
33. Global Veterinary CRO And CDMO Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Veterinary CRO And CDMO Market
35. Veterinary CRO And CDMO Market Future Outlook and Potential Analysis
36. Appendix
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