Press release
Strong Growth Ahead: Veterinary CRO And CDMO Market Size To Grow At Arecord 9.2% Cagr By 2029
Veterinary CRO And CDMO
What Is the Veterinary CRO And CDMO Market Size and Projected Growth Rate?
In recent times, the market size of the veterinary cro and cdmo has seen substantial growth. It is projected to expand from $6.97 billion in 2024 to $7.55 billion in 2025, with a compound annual growth rate (CAGR) of 8.3%. This growth during the historical period is due to factors such as regulatory compliance requirements, the global expansion of the animal health market, a surge in drug development for livestock, and a rise in outsourcing by pharmaceutical companies.
Expectations are high for robust expansion in the veterinary CRO and CDMO market in the upcoming years. The predictions indicate that this market will escalate to $10.74 billion by 2029, progressing at a compound annual growth rate (CAGR) of 9.2%. Factors contributing to this predicted growth within the forecasting period include the rising adoption of precision medicine, emphasis on preventative healthcare, epidemiological surveillance, emergency readiness, and the increasing complexity surrounding veterinary therapeutics. Key trends anticipated in the forecast period encompass the offloading of research and development processes, technology integration, forging of collaborations and partnerships, adherence to sustainable manufacturing practices, and the digital transformation in veterinary services.
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What Are the Major Segments in the Veterinary CRO And CDMO Market?
The veterinary cro and cdmo market covered in this report is segmented -
1) By Service Type: Discovery, Development, Manufacturing, Packaging And Labeling, market Approval And Post- marketing
2) By Animal Type: Companion Animals, Livestock Animals
3) By Application: Medicines, Medical Devices, Pharmaceuticals, Biologics, Other Applications
Subsegments:
1) By Discovery: Target Identification, Target Validation, Lead Identification, Lead Optimization
2) By Development: Preclinical Development, Clinical Development (Phase I, II, III), Regulatory Consulting
3) By Manufacturing: API Manufacturing, Finished Dose Formulation, Analytical Services
4) By Packaging And Labeling: Primary Packaging, Secondary Packaging, Label Design And Compliance
5) By market Approval And Post- marketing: Regulatory Submissions, Pharmacovigilance, Post- marketing Surveillance
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What Are The Driving Veterinary CRO And CDMO Market Evolution?
The escalation in funds allocated to animal healthcare is anticipated to boost the progression of the veterinary CRO and CDMO market. The awareness of the significance of animal wellbeing and the burgeoning requirement for veterinary services and products have led to increased investments in animal healthcare, thereby facilitating the expansion of the veterinary CRO and CDMO market. As an example, the American Pet Products Association (APPA), a non-profit organization in the US that encourages, cultivates, and elevates pet ownership along with the pet products industry, reported in October 2023 that the expense on pet care in the U.S. spiked from USD 123.6 billion in 2021 to 136.8 billion in 2022. Thus, the rise in animal healthcare investments is expected to fuel the growth of the veterinary CRO and CDMO market.
Which Firms Dominate The Veterinary CRO And CDMO Market Segments?
Major companies operating in the veterinary cro and cdmo market include 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., Angion Biomedica Corp., knoell Germany GmbH, ClinVet International Pty Ltd., VetPharm Inc., Vetio Animal Health Company, Ridgeway Research Ltd., Drayton Animal Health Ltd., KLIFOVET GmbH, Triveritas Ltd., Cebiphar, Ondax Scientific UK Ltd., Veterinary Research Management (VRM) Ltd., Vetspin Srl, STATKING Animal Health CRO, Arcoblu S.r.l.
What Trends Are Expected to Dominate the Veterinary CRO And CDMO Market in the Next 5 Years?
In the veterinary CRO and CDMO market, a major trend that is gaining traction is product innovation. Firms operating in this field are placing their focus on innovating their products in order to maintain their relevancy in the industry. For example, Vetio, a Contract Development and Manufacturing Organization (CDMO) based in the US that is focused on animal health, received an Intention to Grant from the European Patent Office (EPO) and a Notice of Allowance from the United States Patent Office (USPTO) for its Starch-Free Soft Chew, designed specifically for veterinary usage, in June 2022. Highly optimized to deliver active components in superior quality dosages suitable for veterinary medicinal use, Vetio's Soft Chew Technology platform is specifically developed for animal health. The unique composition and production process of Vetio's innovation eliminate the use of starch and additional water, thus making it extremely ideal for moisture-sensitive active elements.
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Which Is The Largest Region In The Veterinary CRO And CDMO Market?
North America was the largest region in the veterinary CRO and CDMO market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the veterinary CRO and CDMO market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Veterinary CRO And CDMO Market?
2. What is the CAGR expected in the Veterinary CRO And CDMO Market?
3. What Are the Key Innovations Transforming the Veterinary CRO And CDMO Industry?
4. Which Region Is Leading the Veterinary CRO And CDMO Market?
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