Global Veterinary CRO And CDMO Market Analysis 2023: Size, Share, And Key Trends
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
As per The Business Research Company’s Veterinary CRO And CDMO Global Market Report 2023, the veterinary CRO and CDMO market is expected to show significant growth in the forecast period.
Key insights from the veterinary CRO and CDMO market forecast include:
- Market Size
The global veterinary CRO and CDMO market is expected to grow from $5.86 billion in 2022 to $6.44 billion in 2023 at a compound annual growth rate (CAGR) of 9.99%. The veterinary CRO and CDMO market is expected to reach $9.03 billion in 2027 at a CAGR of 8.80%.
- Major Driver
Increasing animal healthcare investments is expected to propel the growth of the veterinary CRO and CDMO market going forward. Investments in animal healthcare have been increasing in recent years due to the growing awareness of the importance of animal health and the expanding demand for veterinary services and products, hence contributing to the growth of the veterinary CRO and CDMO market. For Instance, in 2022, according to the report published by the American Pet Products Association (APPA), a US-based non-profit organization that promotes, develops, and advances pet ownership and the pet products industry, pet care expenditure in the U.S. increased from USD 123.6 billion in 2021 to 136.8 billion in 2022. Therefore, increasing animal healthcare investments will drive the veterinary CRO and CDMO market growth.
View More On The Veterinary CRO And CDMO Market Report 2023 – https://www.thebusinessresearchcompany.com/report/veterinary-cro-and-cdmo-global-market-report
- Key Trend
Product innovations are the key trend gaining popularity in the veterinary CRO and CDMO market. Companies operating in the veterinary CRO and CDMO markets are focusing on product innovations to sustain their position in the market. For instance, in June 2022, Vetio, a US-based Contract Development and Manufacturing Organization (CDMO) dedicated to animal health, has been granted an Intention to Grant by the European Patent Office (EPO) and a Notice of Allowance by the United States Patent Office (USPTO) for its Starch-Free Soft Chew designed for veterinary applications. Vetio’s Soft Chew Technology platform, specifically developed for animal health, is excellently tailored to deliver one or more active ingredients in a high-quality dosage form suitable for veterinary pharmaceutical use. Vetio’s innovative composition and manufacturing process is free from starch and added water, making it highly suitable for moisture-sensitive active ingredients.
- Largest Region
North America was the largest region in the veterinary CRO and CDMO market in 2022.
- Major Players
Major players in the veterinary CRO and CDMO market are Labcorp Drug Development India Private Limited, Zoetis Inc., 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, and Arcoblu S.r.l.
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Key Veterinary CRO And CDMO Market Segments
The global veterinary CRO and CDMO market 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
The Veterinary CRO And CDMO Global Market Report 2023 provides an in-depth analysis on the veterinary CRO and CDMO market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the veterinary CRO and CDMO market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
View More Related Reports –
Veterinary Infectious Disease Diagnostics Global Market Report 2023
Animal Antibiotics And Antimicrobials Global Market Report 2023
Veterinary Pain Management Global Market Report 2023
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