Veterinary CRO & CDMO Market Size is predicted to grow at a 9.6% CAGR during the forecast period for 2024-2031.
Both Veterinary CROs and CDMOs play a collaborative role in advancing veterinary medicine, offering expertise, resources, and infrastructure that enable the efficient and effective development of new treatments and health products for animals. By partnering with these organizations, veterinary product developers can accelerate the time to market for new therapies, contributing to animal health and welfare while also addressing the needs of the veterinary market. These organizations provide a variety of services, including preclinical and clinical studies, regulatory support, formulation development, and commercial-scale manufacturing of veterinary pharmaceuticals.
The veterinary CRO and CDMO industry has expanded significantly due to rising demand for safe and effective veterinary pharmaceuticals, the requirement for regulatory compliance, and increased investment in animal healthcare. These organizations play a critical role in veterinary pharmaceutical development, ensuring their safety and efficacy, and assisting corporations in navigating the veterinary industry's complex regulatory structure.
The veterinary CRO and CDMO market is being pushed by rising awareness of animal health and welfare, severe regulatory requirements, and a need for specialized services. Rising pet ownership, improved livestock production, and the prevalence of zoonotic diseases have all contributed to increased investment in veterinary pharmaceutical research and development. Stringent safety and efficacy criteria have increased demand for specialized services. Advances in veterinary medicine and technology have offered prospects for novel medicines, accelerating market growth. Pharmaceutical companies and CRO/CDMOs can collaborate strategically to create drugs at a lower cost and with greater efficiency. Overall, these aspects contribute to the market's growth.
Competitive Landscape
Some Major Key Players In The Veterinary CRO & CDMO Market:
- Labcorp Drug Development
- Charles River Laboratories
- Clinvet
- Klifovet GmbH
- Oncovet Clinical Research (OCR)
- Knoell Triveritasm
- Vetspin,
- Inotiv
- Idexx Laboratories
- Zoetis Nexvet
- PAREXEL International Corporation
- ICON plc
- Pharmaceutical Product Development, LLC (PPD)
- Syneos Health
- WuXi AppTec
- Medpace
- Envigo
- Vetio Animal Health
- Clinipace
- MPI Research
- Veterinary Research Management (VRM)
- VetPharm, Inc.
- Merck Animal Health
- Other prominent players
Market Segmentation:
The Veterinary CRO & CDMO Market is segmented by animal type, application type and service type,. Based on animal type, the market is segrigated into companion and livestock animals. By application type, the market is segmented into medicine and medical devices. By service type, the market is segmented into discovery, development, manufacturing, packaging & labeling, and market approval & post-marketing.
Based On Animal Type, The Livestock Animal Category Dominated The Industry.
The livestock animal segment led the business in 2022, accounting for 40.4% of total revenue because to the high production rate of vaccinations, medicines, and infectious disease diagnostic goods aimed primarily at food-producing animals. The dominant share is also attributed to rising protein consumption, milk or meat requirements, and expanding live animal markets worldwide. Furthermore, rising zoonotic concerns and increased spending on livestock animals are driving the demand for CROs and CDMOs to support huge medication production.
The Medical Devices Segment Is Estimated To Increase At The Quickest CAGR Throughout The Forecast Period.
The medical devices segment is estimated to increase at the quickest CAGR throughout the forecast period. Rising technical breakthroughs in veterinary diagnostics, rising animal healthcare expenditure, and the widespread availability of contract veterinary equipment manufacturers and raw material suppliers are driving segment expansion. Furthermore, corporations are investing more in expanding their production capacity through the use of broad networks of CROs and CDMOs, which has a beneficial impact on and supports subsequent growth rates.
In The Region, The North American Veterinary CRO & CDMO Market Holds A Significant Revenue Share.
North America dominated the animal health CRO & CDMO market, accounting for more than 30% of total revenue. This considerable share can be attributable to the strong presence of important companies coupled with the rising number of drug development and veterinary product launch activities in the region. Rising veterinary clinical trial activities in the United States, increased availability of contract organizations in veterinary product development, improved manufacturing infrastructure in the region's developed countries, and increasing animal healthcare investments all contribute to market growth.
The Asia Pacific area would exhibit the quickest CAGR during the predicted period. This is primarily due to the region's attractiveness, as well as the low-cost and flexible sourcing provided by large networks of veterinary outsourcing companies. Countries, like China and India, have been dominating in medical outsourcing for some years; moreover, recently, Southeast Asian countries, like Philippines, Malaysia, Indonesia, and Vietnam, are garnering market attention with significant potential. Similarly, popular destinations for veterinary outsourcing activities include Latin America, the Middle East, and Africa.
Recent Developments:
- In April 2022, Clinical validation of a next-generation sequencing-based multi-cancer detection 'liquid biopsy' blood test in over 1,000 canines using an independent testing set: The CANcer Detection in canines was a clinical investigation funded by PetDx. Assessing the efficacy of a novel multi-cancer blood test in identifying and classifying cancer in canines was the objective of this clinical investigation.
- In January 2022, Covetrus, a global leader in animal health technology and services, has announced the release of Covetrus Pulse, an innovative cloud-based veterinary operating system (vOS) that easily connects veterinarians to the technology they require to manage their practices and gives them more time to spend with the animals in their care.
- In March 2022, Clinvet acquired a stake in RTI Labs, a CRO headquartered in South Dakota that specialized in food-producing animal preclinical trials. Complementing the spectrum of services provided by Clinvet's large animals' facilities in South Africa and Morocco, RTI's research facilities in the United States and expertise in infectious disease and immunology research enhanced Clinvet's presence and service offering in North America.
Veterinary CRO & CDMO Market Report Scope
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Report Attribute |
Specifications |
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Growth Rate CAGR |
CAGR of 9.6% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Animal Type, Application Type, Service Type |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
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Competitive Landscape |
Aare Labcorp Drug Development, Charles River Laboratories, Clinvet, Klifovet GmbH, Oncovet Clinical Research (OCR), Knoell Triveritasm, Vetspin, Inotiv, Idexx Laboratories, Zoetis Nexvet, PAREXEL International Corporation, ICON plc, Pharmaceutical Product Development, LLC (PPD), Syneos Health, WuXi AppTec, Medpace, Envigo, Vetio Animal Health, Clinipace, MPI Research, Veterinary Research Management (VRM), VetPharm, Inc., Merck Animal Health and others. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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