Press release
Key Factor Supporting Veterinary CRO And CDMO Market Development in 2025: Increasing Animal Healthcare Investments
Veterinary CRO And CDMO
How Large Will the Veterinary CRO And CDMO Market Size By 2025?
In recent times, the veterinary cro and cdmo market has experienced robust growth. The market size is projected to increase from $6.97 billion in 2024 to $7.55 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.3%. The historical growth has been driven by factors such as compliance with regulations, the worldwide expansion of the animal health market, enhanced drug development for livestock, and increased outsourcing by pharmaceutical firms.
How Big Is the Veterinary CRO And CDMO Market Size Expected to Grow by 2029?
The market size of veterinary CRO and CDMO is forecasted to witness substantial expansion in the upcoming years. By 2029, it is set to reach $10.74 billion, with a CAGR of 9.2%. The projected growth during the forecast period could be a result of wider acceptance of precision medicine, emphasis on preventive healthcare, epidemiological tracking, readiness for emergencies, and the increasing intricacy of veterinary therapeutics. Key trend shifts throughout this period are expected to involve R&D outsourcing, tech integration, collaborations and partnerships, adoption of sustainable practices in production, and veterinary services' digital transformation.
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Which Key Market Drivers Powering Veterinary CRO And CDMO Market Expansion and Growth?
The expansion of the veterinary CRO and CDMO market is anticipated to be fueled by rising investments in animal healthcare. This surge in investment is credited to the heightened awareness of animal health's significance and the growing demand for veterinary services and merchandise, all of which contribute to the development of this market. As indicated in a report by the American Pet Products Association (APPA), a non-profit entity from the U.S. advocating for pet ownership and the pet products industry, pet care expenditure in the U.S. experienced an increase from USD 123.6 billion in 2021 to 136.8 billion in 2022, as of October 2023. As a result, the veterinary CRO and CDMO market is projected to grow due to these bolstered investments in animal healthcare.
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Which Fast-Growing Trends Are Poised to Disrupt the Veterinary CRO And CDMO Market?
Product innovation is proving to be a significant trend in the veterinary CRO and CDMO marketplace. To maintain their market position, companies in these sectors are honing in on novel product development. Case in point, Vetio - an American Contract Development and Manufacturing Organization (CDMO) specializing in animal health services - was recognized by the European Patent Office (EPO) and the United States Patent Office (USPTO) in June 2022. The recognition was for a Starch-Free Soft Chew developed specifically for veterinary use. Vetio's Soft Chew Technology platform, purpose-built for animal health, is perfectly engineered to administer one or multiple active components in a premium dosage form fit for veterinary pharmaceutical usage. Fusing innovative composition and manufacturing techniques, Vetio's process avoids starch and surplus water, making it an excellent choice for active components sensitive to moisture.
What Are the Emerging 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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Who Are the Global Leaders in the Veterinary CRO And CDMO Market?
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.
Which are the Top Profitable Regional Markets for the Veterinary CRO And CDMO Industry?
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.
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