How is the Veterinary CRO And CDMO Market Poised for Growth: Trends and Opportunities Through 2034
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What is the Predicted Annual Growth Rate of the Veterinary CRO And CDMO Market Over the Coming Decade?
The veterinary CRO and CDMO market has grown significantly in recent years. It is expected to increase from $6.97 billion in 2024 to $7.55 billion in 2025 at a CAGR of 8.3%. The market’s past expansion has been driven by regulatory compliance requirements, the globalization of the animal health sector, increased drug development for livestock, and growing outsourcing by pharmaceutical companies.
The veterinary CRO and CDMO market is projected to see strong growth, reaching $10.74 billion by 2029 at a CAGR of 9.2%. Key growth factors include the increasing adoption of precision medicine, a greater focus on preventive healthcare, epidemiological surveillance, emergency preparedness measures, and the rising complexity of veterinary therapeutics. Major trends expected in this sector include the outsourcing of research and development, technological integration, strategic collaborations and partnerships, sustainable manufacturing practices, and the digital transformation of veterinary services.
Which Primary Drivers Are Supporting the Continued Expansion of the Market?
Increased investments in animal healthcare are expected to drive the growth of the veterinary CRO and CDMO market. Over recent years, spending on animal healthcare has risen due to growing awareness about animal health and the rising demand for veterinary products and services. This has positively impacted the veterinary CRO and CDMO market. For example, in October 2023, the American Pet Products Association (APPA) reported that pet care spending in the U.S. rose from USD 123.6 billion in 2021 to USD 136.8 billion in 2022. As a result, higher investments in animal healthcare will support the growth of the veterinary CRO and CDMO market.
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What Are the Major Players Making an Impact in the Veterinary CRO And CDMO Market’s Growth?
Major companies operating in the veterinary cro and cdmo market include:
• Eurofins Scientific SE_x000D_
• Pharmaceutical Product Development Inc._x000D_
• Syneos Health Inc._x000D_
• Charles River Laboratories Inc._x000D_
• IDEXX Laboratories Inc._x000D_
Which Upcoming Trends Are Set to Influence the Veterinary CRO And CDMO Market’s Path Forward?
The veterinary CRO and CDMO market is being shaped by product innovations as companies focus on developing new solutions to maintain their market position. For instance, in June 2022, Vetio, a US-based Contract Development and Manufacturing Organization (CDMO) specializing in animal health, was 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 formulation. This Soft Chew Technology platform, specifically designed for veterinary applications, offers an optimal dosage form for delivering active ingredients. The starch-free and water-free composition makes it particularly suitable for moisture-sensitive active ingredients, setting it apart from traditional formulations.
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What Are the Core Categories and Segments in the Veterinary CRO And CDMO Market Driving Demand and Growth?
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 Regions Are Steering Growth in the Veterinary CRO And CDMO Sector?
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.
How Is the Veterinary CRO And CDMO Market Classified and Defined in Market Analysis?
A veterinary CRO is a specialized service provider that conducts research and clinical trials to evaluate the safety and efficacy of veterinary drugs and healthcare products, and a veterinary CDMO is a specialized service provider that offers contract development and manufacturing services for veterinary drugs and healthcare products, assisting with formulation development, process optimization, and production.
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