Veterinary Clinical Trials Market Analysis: Key Insights on Growth Rates, Trends, and Major Opportunities
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What fueled the previous growth in the veterinary clinical trials market?
The market size for veterinary clinical trials has seen robust growth of late. The market is projected to increase from $4.42 billion in 2024 to $4.85 billion in 2025, indicating a compound annual growth rate (CAGR) of 9.8%. The preceding epoch’s substantial growth can be traced back to several factors like the surge in domestic pet adoption, escalated demand for animal healthcare products, expansion of livestock farming, additional regulatory pressure insisting on safe animal healthcare practices, and an enhanced emphasis on preventing zoonotic diseases.
What will be the veterinary clinical trials market size in the future?
In the coming years, robust growth is expected in the veterinary clinical trials market, with its value projected to reach $6.97 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 9.5%. Factors fuelling the growth during the anticipated period include a surge in pet ownership, an increase in animal diseases, escalating demand for advanced veterinary treatments, supportive regulatory environment for veterinary research, expansion of companion animal healthcare, and a rising incidence of chronic diseases in animals. The forecast period will also witness significant trends such as the use of artificial intelligence for data analysis, advanced imaging for more accurate diagnostics, embracing digital platforms for remote monitoring, leveraging blockchain for secure data management, employing wearables for real-time health tracking, using 3D printing to tailor-make medical devices, and the growing popularity of telemedicine for remote consultations and trial management.
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What main drivers are fueling expansion in the veterinary clinical trials market?
The anticipated increase in the number of pet owners is forecasted to significantly boost the veterinary clinical trials market. Owning a pet involves caring for one or multiple animals as domesticated companions. The surge in pet ownership owes to various factors, including longing for companionship, advantageous aspects of pet therapy, and the heightened awareness of how pets positively affect mental and physical health. Veterinary clinical trials enhance pet ownership by making modern treatments for pets more accessible and progressing veterinary care, therefore promising improved health results for animals. These trials play a significant part in creating more secure and efficient treatments. For example, a report from The People’s Dispensary for Sick Animals, a UK-based animal charity, in June 2024 suggested that the UK will have about 10.6 million pet dogs, an increase from 9.6 million in 2021. Hence, the escalating number of pet owners propels the progression of the veterinary clinical trials market.
What key areas define the segmentation of the global veterinary clinical trials market?
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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Who are the dominant players expanding their reach in the veterinary clinical trials market?
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
How are evolving market trends shaping veterinary clinical trials Strategies?
Key players in the veterinary clinical trials market are prioritizing the development of innovative anti-aging medicines aimed at boosting pet lifespan and enhancing animal health overall. An innovative anti-aging drug is a pioneering medication designed to either slow the aging process or reverse it to promote the health and vigor of aging animals. For example, Loyal, an American veterinary company, initiated a clinical trial for an innovative anti-aging drug, LOY-002, in February 2024, with the goal of lengthening the healthy lifespan of elderly dogs. This drug, created to bolster metabolic health in dogs, targets age-related modifications that could result in several health complications. This chewable pill, which is specifically crafted for older dogs of nearly all sizes (besides the tiniest breeds), is presently undergoing testing in the STAY study. This study aims to enroll more than 1,000 dogs that are 10 years and above from over 50 veterinary clinics located throughout the United States. Improving metabolic functionality is the primary purpose of LOY-002, which could potentially delay age-related diseases and enhance the overall quality of life for older dogs.
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Which regions are emerging as leaders in the veterinary clinical trials market?
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.
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