Veterinary CRO and CDMO Market
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Veterinary CRO and CDMO Market size was valued at USD 6.2 billion in 2023 and is estimated to grow at 8.7% CAGR from 2024 to 2032. The market has seen substantial growth due to the increasing prevalence of diseases in animals such as cancer and zoonotic infections. This has led to an increased need for advanced veterinary pharmaceuticals and biologics.
Also, the increased focus on pet healthcare and the rising livestock population are further driving the demand for innovative treatments. This need for advanced therapies has intensified research and development activities to expedite drug development. Therefore, pharmaceutical and biotechnology companies are increasingly relying on specialized CROs and CDMOs to leverage their expertise, accelerate development timelines, ensure regulatory compliance, and efficiently bring high-quality animal health products to market. Thus, widespread adoption of CRO and CDMO services will spur the market growth.
Report Attribute | Details |
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Base Year: | 2023 |
Veterinary CRO and CDMO Market size in 2023: | USD 6.2 Billion |
Forecast Period: | 2024 - 2032 |
Forecast Period 2023 - 2032 CAGR: | 8.7 |
2023 Value Projection: | USD 13 Billion |
Historical Data for: | 2021 - 2023 |
No of Pages: | 130 |
Tables, Charts & Figures: | 304 |
Segments Covered: | Animal Type, Service Type, Product, and Region |
Growth Drivers: |
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Pitfalls Challenges: |
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Veterinary CROs & CDMOs are specialized service providers in the animal healthcare industry. Veterinary CROs offer research, development, and regulatory services for drugs, and biologics intended for animals. They conduct preclinical and clinical trials, manage regulatory submissions, and provide expertise in veterinary drug development. Whereas, veterinary CDMOs focus on the manufacturing and production of veterinary drugs and biologics, offering services from small-scale production to large-scale commercial manufacturing.
Pharmaceutical and biotechnology companies are outsourcing to CROs and CDMOs to utilize their specialized expertise, ensuring higher quality and more efficient production of new animal health products. This trend is driven by increased R&D spending in the veterinary sector which boosts the demand for advanced veterinary drugs and biologics.
Moreover, the growing animal healthcare expenditure, rising incidence of zoonotic infections, enhanced diagnostic technologies, growing government support, and strategic expansions by major players are few of the other factors that propel the market demand.
Based on the animal type, the market is categorized as companion animals and livestock animals. The companion animal segment is set to lead the market, accounting for the largest revenue of USD 3.8 billion in 2023, anticipating its dominance throughout the forecast period.
Based on service type, the veterinary CRO and CDMO market is classified into CRO services and CDMO services. The CDMO services segment holds the largest market share of 85.5% in 2023.
Based on the product, the veterinary CRO and CDMO market is segmented into drugs, biologics, and medicated feed and supplements. The drugs segment is projected to reach USD 6.9 billion by end of 2032.
U.S. dominated the North American veterinary CRO and CDMO market, accounting for USD 2.2 billion in 2023 and is anticipated to show considerable growth over the analysis period.
Germany exhibited a high growth potential in the European veterinary CRO and CDMO market.
The Asia Pacific veterinary CRO and CDMO market is poised for rapid growth with a CAGR of 9.1% during the forecast period.
The market is characterized by a diverse range of providers offering specialized services in drug development, manufacturing, and regulatory support for veterinary pharmaceuticals. These companies compete based on their expertise in clinical trial management, formulation development, and adherence to global regulatory standards. Further, the key factors influencing competition include technological capabilities, geographic reach, regulatory expertise, and the ability to tailor services to meet the evolving needs of clients in the animal health sector.
Few of the prominent players operating in the veterinary CRO and CDMO industry include:
Market, By Animal Type
Market, By Service Type
Market, By Product
The above information is provided for the following regions and countries:
Argenta Holdco Ltd., Clinvet, Eva Pharma, Huvepharma, IDEXX Laboratories, Inc., KLIFOVET GmbH, l
U.S. veterinary CRO and CDMO industry size was USD 2.2 billion in 2023 driven by high pet ownership rates, and significant investment in R&D.
The CDMO services segment recorded 85.5% of the market share in 2023 as pharmaceutical and biotechnology companies increasingly rely on specialized services to manage essential aspects of the veterinary drug lifecycle.
The veterinary contract research organization and contract development and manufacturing organization industry size was USD 6.2 billion in 2023 and will grow at 8.7% CAGR through 2032 due to the increasing prevalence of diseases in animals such as cancer and zoonotic infections.