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Key Driver Reshaping the Veterinary Clinical Trials Market in 2025: Impact of Rising Pet Ownership On The Growth Of The Veterinary Clinical Trials Market
Veterinary Clinical Trials Market Size
The market size for veterinary clinical trials has seen substantial expansion in the past years. Predictions show it increasing from $4.42 billion in 2024 to $4.85 billion in 2025, with a compound annual growth rate (CAGR) of 9.8%. This growth during the historic period is a result of various factors such as an upward trend in pet ownership, amplified demand for veterinary health products, expansion in livestock farming, mounting regulatory pressure for animal-safe treatments, and an intensified focus on preventing zoonotic diseases.
The market size of veterinary clinical trials is predicted to experience significant growth in the forthcoming years. The market is projected to expand up to $6.97 billion by 2029, at a compound annual growth rate (CAGR) of 9.5%. This anticipated growth in the forecast period is due to several factors such as the increase in pet ownership, the growing occurrence of animal illnesses, swelling demand for cutting-edge veterinary treatments, heightened regulatory backing for veterinary study, the extension of companion animal healthcare and an increasing incidence of chronic conditions in animals. Principal trends in the forecast period encompass the utilization of AI for data interpretation, state-of-the-art imaging technologies for accurate diagnostics, the adoption of digital mechanisms for distant monitoring, blockchain for protected data management, wearables for instant health monitoring, 3D printing for tailored medical devices and telemedicine for distant consultations and trial administration.
What Are the Main Catalysts for Growth in the Veterinary Clinical Trials Market?
The growth of the veterinary clinical trials market is set to be buoyed by the increasing number of pet owners. This act of owning and caring for domestic pets stems from various reasons, such as a desire for companionship, the therapeutic benefits of owning pets, and an enhanced awareness about the positive effects pets can have on their owners' mental and physical health. The increased access to groundbreaking treatments for pets provided by veterinary clinical trials, and the role these trials play in enhancing veterinary care and health outcomes for animals, further empowers pet ownership. Such trials also clear the way for the development of treatments that are both safer and more effective. As per a report from The People's Dispensary for Sick Animals, a veterinary charity based in the UK, pet dog ownership in the UK is expected to rise to roughly 10.6 million in June 2024 from 9.6 million in 2021. Therefore, the surge in pet ownership is fostering the growth of the veterinary clinical trials market.
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Which Businesses Are at the Forefront of Veterinary Clinical Trials Market Development?
Major companies operating in the veterinary clinical trials market are Merck & Co. Inc., Boehringer Ingelheim International GmbH, Laboratory Corporation of America Holdings, Zoetis Inc., Elanco Animal Health Incorporated, Charles River Laboratories International Inc., IDEXX Laboratories Inc., Ceva Santé Animale, Hill's Pet Nutrition Inc., Ethos Veterinary Health LLC, Orion Corporation, Dechra Pharmaceuticals plc, The Schwarzman Animal Medical Center, Argenta Holdco Limited, Morris Animal Foundation, Vaxine Pty Ltd, Bioagile Therapeutics Pvt. Ltd., VetStem Inc., VetDC, Vivesto AB, OCRvet, Vetbiolix, Clinvet International, Ondax Scientific S.l., Veterinary Research Management
Which Businesses Are at the Forefront of Albuminar-5 Market Development?
Leading firms in the veterinary clinical trials market are putting their efforts into creating innovative anti-aging medications to increase pets' lifespan and better their overall health. These ground-breaking drugs are meant to decelerate or reverse the aging process, thereby enhancing aged animals' health and vigor. For example, Loyal, an American veterinary company, began a clinical trial for a new anti-aging drug, LOY-002, in February 2024, aimed at prolonging the healthy lifespan of elderly dogs. This drug targets age-related alterations that can lead to multiple health complications and is developed to boost dogs' metabolic health. The drug, a chewable pill specifically for senior dogs excluding very small breeds, is currently under testing in the STAY study. This study aims to involve over 1,000 dogs, aged 10 and over, from more than 50 veterinary clinics across the US. The primary goal of LOY-002 is to improve metabolic activity, possibly delaying age-related diseases, and improving the overall living quality of elderly dogs.
How Is the Veterinary Clinical Trials Market Segmented?
The veterinary clinical trials market covered in this report is segmented -
1) By Animal: Livestock Animal, Companion Animal, Other Animals
2) By Indications: Oncology, Internal Medicine, Orthopedics, Cardiology, Neurology, Ophthalmology, Dermatology, Other Indications
3) By Intervention: Medicines, Medical Devices, Other Interventions
4) By End-Users: Academics And Research Centers, Pharmaceutical And Biopharmaceutical Companies, Other End-Users
Subsegments:
1) By Livestock Animal: Cattle, Sheep, Goats, Swine, Poultry
2) By Companion Animal: Dogs, Cats, Horses, Rabbits, Ferrets
3) By Other Animals: Wildlife, Exotic Pets, Laboratory Animals, Aquatic Animals
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Where Is the Veterinary Clinical Trials Market Growth Most Prominent?
North America was the largest region in the veterinary clinical trials market in 2024. The regions covered in the veterinary clinical trials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Veterinary Clinical Trials Global Market Report?
- Market Size Analysis: Analyze the veterinary clinical trials Market Size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the veterinary clinical trials market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall veterinary clinical trials market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the veterinary clinical trials market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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