1. What is the projected Compound Annual Growth Rate (CAGR) of the Veterinary CRO and CDMO Market?
The projected CAGR is approximately 8.7%.
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Veterinary CRO and CDMO Market by Animal Type (Companion animals, Livestock animals), by Service Type (CRO services, CDMO services), by Product (Drugs, Biologics, Medicated feed and supplements), by North America (U.S., Canada), by Europe (Germany, UK, France, Spain, Italy, The Netherlands, Rest of Europe), by Asia Pacific (Japan, China, India, Australia, South Korea, Rest of Asia Pacific), by Latin America (Brazil, Mexico, Rest of Latin America), by Middle East and Africa (Saudi Arabia, South Africa, UAE, Rest of Middle East and Africa) Forecast 2025-2033
The size of the Veterinary CRO and CDMO Market was valued at USD 6.2 Billion in 2023 and is projected to reach USD 11.12 Billion by 2032, with an expected CAGR of 8.7% during the forecast period. The market for Veterinary CRO and CDMO services concentrates on external support for the production, evaluation, and manufacturing of veterinary drugs. This sector includes various services such as preclinical and clinical trials, regulatory affairs, formulation development, and the manufacturing of veterinary drugs, biologics, and vaccines on a large scale. As the pet care and livestock industries expand worldwide, the need for specialized services offered by CROs and CDMOs is on the rise due to the increasing demand for veterinary medicines and vaccines. These groups expedite the process of developing drugs, ensure adherence to regulations, and provide affordable solutions for pharmaceutical companies and animal health businesses. Moreover, progress in biologics, genomics, and biotechnology is leading to new possibilities for specialized services in the fields of drug discovery and formulation. The Veterinary CRO and CDMO Market is expected to expand due to increasing worries regarding animal health, food safety, and disease management. Pharmaceutical firms are aiming to address changing market needs and enhance animal healthcare results, all while streamlining development and production expenses.
The Veterinary CRO and CDMO Market exhibits moderate concentration with a few dominant players holding a substantial market share. Key characteristics include:
The Veterinary CRO and CDMO Market is driven by several key trends:
North America currently dominates the Veterinary CRO and CDMO Market, owing to several factors:
Within the Veterinary CRO and CDMO Market, the livestock animals segment holds significant growth potential driven by:
The report provides comprehensive insights into the Veterinary CRO and CDMO Market, including market size, share, growth rate, and market drivers. It also analyzes the competitive landscape, key trends, and future market outlook. The report can be customized to meet specific client requirements.
In terms of market size, the Veterinary CRO and CDMO Market is projected to reach 12.5 Billion by 2032. Key players such as Argenta Holdco Ltd., Clinvet, and EVA Pharma are driving market growth through strategic acquisitions and innovative drug development.
Animal Type
Service Type
Product
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 8.7% from 2019-2033 |
Segmentation |
|
Note* : In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
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The projected CAGR is approximately 8.7%.
Key companies in the market include Argenta Holdco Ltd., Clinvet, Eva Pharma, Huvepharma, IDEXX Laboratories, Inc., KLIFOVET GmbH, löhlein and wolf vet research, Mercurio HoldCo Ltd., Moredun Foundation, Syngene International Ltd., Tekro Ltd., Triveritas, Uniivo, Vetio.
The market segments include Animal Type, Service Type, Product.
The market size is estimated to be USD 6.2 Billion as of 2022.
Increasing pet ownership. Expanding veterinary outsourcing services. Increasing zoonotic disease. Rising spending on development and research.
N/A
Lack of standardization in veterinary CRO. Regulatory challenges and high initial investment costs.
In May 2024, EUROAPI entered into a CMO agreement with a global animal health company. Under this collaboration, EUROAPI will provide a key veterinary product to its client. This agreement aimed to enhance EUROAPI's presence in the CDMO sector, highlighting its expansion and capabilities in the veterinary pharmaceutical industry.
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The market size is provided in terms of value, measured in Billion.
Yes, the market keyword associated with the report is "Veterinary CRO and CDMO Market," which aids in identifying and referencing the specific market segment covered.
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