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Veterinary CRO and CDMO Market Size

Report ID: GMI10318
Published Date: Jul 2024
Report Format: PDF

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Veterinary CRO and CDMO Market Size

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.

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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.

Veterinary CRO and CDMO Market Report Attributes
Report Attribute	Details
Base Year:	2023
Veterinary CRO and CDMO Market Size in 2023:	USD 6.2 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	8.7%
2032 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:	Increasing pet ownership Expanding veterinary outsourcing services Increasing zoonotic disease Rising spending on development and research
Pitfalls & Challenges:	Lack of standardization in veterinary CRO Regulatory challenges and high initial investment costs

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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.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

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.

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.

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.

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., and Tekro Ltd.