What Has Been the Growth Trajectory for the Veterinary CRO And CDMO Market in Recent Years?
The veterinary cro and cdmo market has seen considerable growth due to a variety of factors.
•In recent times, the veterinary cro and cdmo market has experienced robust growth. The market size, which is predicted to increase from $6.97 billion in 2024 to $7.55 billion in 2025, is expected to grow at a compound annual growth rate (CAGR) of 8.3%.
This growth observed in the historic period is due to factors such as regulatory compliance requirements, the global expansion of the animal health market, enhanced drug development for livestock, and increased outsourcing by pharmaceutical companies.
How Does the Forecast Look for the Veterinary CRO And CDMO Market?
The veterinary cro and cdmo market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for veterinary cro and cdmo is projected to experience robust expansion in the approaching years. The anticipated growth trajectory indicates an increase to $10.74 billion by 2029, progressing at a compound annual growth rate (CAGR) of 9.2%.
The surge during this forecast period can be ascribed to a rise in the utilization of precision medicine, emphasis on preventative healthcare measures, epidemiological monitoring, and emergency readiness, along with the growing intricacy of veterinary therapeutics. Key trends to watch in this forecast period encompass the outsourcing of R&D, the merging of technology, establishing collaborations and partnerships, fostering sustainable practices in manufacturing, and the digitization of veterinary services.
What Main Forces Are Fueling Expansion In The Veterinary CRO And CDMO Market?
The veterinary CRO and CDMO market's growth is expected to accelerate due to rising investments in animal healthcare. An enhanced understanding of animal health's significance and a heightened demand for veterinary services and products have led to an uptick in animal healthcare investments, thereby accelerating the veterinary CRO and CDMO market's growth. For example, the American Pet Products Association (APPA), a US non-profit committed to propelling pet ownership and the pet product industry, showed in an October 2023 report that pet care expenditure in the U.S. rose from USD 123.6 billion in 2021 to 136.8 billion in 2022. Therefore, the veterinary CRO and CDMO market will benefit from continuous growth in animal healthcare investments.
What Are The Primary Segments In The Global 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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Which Key Trends Are Driving Changes In The Veterinary CRO And CDMO Market?
The primary trend picking up pace in the veterinary CRO and CDMO market is product innovation. To maintain their market stance, companies within the veterinary CRO and CDMO arenas are concentrating on innovating their product offerings. An example of this trend was seen in June 2022 when Vetio, an animal health focused Contract Development and Manufacturing Organization (CDMO) based in the United States, 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 for veterinary usage. Vetio's Soft Chew Technology platform, specifically formulated for animal health, provides an excellent method for delivering one or more active ingredients in a top-grade dosage form suitable for veterinary pharmaceutical applications. Without incorporating starch or additional water, Vetio's unique composition and production procedure makes it ideal for moisture-sensitive active ingredients.
Who Are the Key Players 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.
What Is The Most Dominant 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.
