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What Is the Forecast for the Veterinary CRO And CDMO Market Growth in 2025?
In recent times, there has been significant growth in the market size of the veterinary contract research organization (cro) and contract development manufacturing organization (cdmo). Its size is projected to escalate from $6.97 billion in 2024 to $7.55 billion in 2025, with a compound annual growth rate (CAGR) of 8.3%. The growth experienced in the retrospective period can be credited to regulatory compliance requirements, expansion of the global animal health market, amplified drug development for livestock, and increased outsourcing by pharmaceutical companies.
What Is the Forecast for the Veterinary CRO And CDMO Market Size Through 2029?
The market size of veterinary cro and cdmo is anticipated to witness substantial growth over the coming years, expanding to $10.74 billion in 2029 with a compound annual growth rate (CAGR) of 9.2%. This projected growth within the forecast period can be ascribed to factors such as enhanced adoption of precision medicine, commitment to preventive healthcare, increasing complication in veterinary therapeutics, epidemiological surveillance, and emergency preparedness. Key trends expected during this period encompass the outsourcing of R&D, technological integration, alliances and partnerships, sustainability in production, and the digitisation of veterinary services.
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What are the Key Market Players in Veterinary CRO And CDMO Market and How They’re Evolving?
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 Are the Primary Growth Drivers in the Veterinary CRO And CDMO Market?
The surge in funding for animal healthcare is predicted to fuel the expansion of the veterinary CRO and CDMO market. There has been a rising trend in animal healthcare investments in recent years, largely due to heightened understanding of animal health significance and the burgeoning demand for veterinary services and goods, which have collectively influenced the veterinary CRO and CDMO market expansion. For example, a report by the American Pet Products Association (APPA), a non-profit organization based in the US that advocates and promotes pet ownership and the pet product industry, shows that the pet care expenditure in the U.S. saw a rise from USD 123.6 billion in 2021 to 136.8 billion in 2022, as of October 2023. Hence, the escalating investments in animal healthcare are anticipated to facilitate the growth of the veterinary CRO and CDMO market.
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What Are the Leading Segments in the Global Veterinary CRO And CDMO Industry?
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
What Are the Key Market Trends in the Veterinary CRO And CDMO Industry?
One popular trend sweeping the veterinary CRO and CDMO market is that of product innovation. To maintain their competitive edge, companies in the veterinary CRO and CDMO space are concentrating on developing unique products. For example, in June 2022, Vetio, a US-based Contract Development and Manufacturing Organization exclusively catering to the field of 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 for veterinary use. Vetio’s Soft Chew Technology platform, specifically engineered for pet health, is wonderfully designed to administer one or more active compounds in a superior quality dosage form ideal for veterinary medicine. Vetio’s cutting-edge formulation and production process does not include starch or extra water, rendering it very suitable for active ingredients sensitive to moisture.
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What Is the Regional Outlook for 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.
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This Report Delivers Insight On:
1. How big is the veterinary cro and cdmo market, and how is it changing globally?
2. Who are the major companies in the veterinary cro and cdmo market, and how are they performing?
3. What are the key opportunities and risks in the veterinary cro and cdmo market right now?
4. Which products or customer segments are growing the most in the veterinary cro and cdmo market?
5. What factors are helping or slowing down the growth of the veterinary cro and cdmo market?
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