PUBLISHER: The Business Research Company | PRODUCT CODE: 1671012
PUBLISHER: The Business Research Company | PRODUCT CODE: 1671012
A veterinary CRO (Contract Research Organization) is a specialized service provider that conducts research and clinical trials to evaluate the safety and efficacy of veterinary drugs and healthcare products. On the other hand, a veterinary CDMO (Contract Development and Manufacturing Organization) 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.
The main services provided by veterinary CROs and CDMOs include discovery, development, manufacturing, packaging and labeling, and market approval and post-marketing. Drug discovery in the context of veterinary CDMO and CMO (Contract Manufacturing Organization) typically refers to early-stage research and development activities related to the identification and optimization of potential drug candidates on behalf of their clients. These services cover a broad spectrum of applications, including medicines, medical devices, pharmaceuticals, biologics, and others, for both companion animals and livestock animals.
The veterinary CRO and CDMO market research report is one of a series of new reports from The Business Research Company that provides veterinary CRO and CDMO market statistics, including the veterinary CRO and CDMO industry's global market size, regional shares, competitors with a veterinary CRO and CDMO market share, detailed veterinary CRO and CDMO market segments, market trends, and opportunities, and any further data you may need to thrive in the veterinary CRO and CDMO industry. This veterinary CRO and CDMO market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The veterinary cro and cdmo market size has grown strongly in recent years. It will grow from $6.97 billion in 2024 to $7.55 billion in 2025 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to regulatory compliance needs, globalization of animal health market, increased drug development for livestock, increased outsourcing by pharma companies
The veterinary cro and cdmo market size is expected to see strong growth in the next few years. It will grow to $10.74 billion in 2029 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to increasing adoption of precision medicine, focus on preventive healthcare, epidemiological surveillance, emergency preparedness, increasing complexity of veterinary therapeutics. Major trends in the forecast period include outsourcing of research and development, integration of technology, collaborations and partnerships, sustainability in manufacturing, and digitalization of veterinary services.
The anticipated increase in investments in animal healthcare is poised to drive the growth of the veterinary Contract Research Organization (CRO) and Contract Development and Manufacturing Organization (CDMO) market. The upward trend in animal healthcare investments is a result of heightened awareness regarding the significance of animal health and the growing demand for veterinary services and products, thereby contributing to the expansion of the veterinary CRO and CDMO market. For instance, in 2022, the American Pet Products Association (APPA) reported a notable rise in pet care expenditure in the U.S., increasing from USD 123.6 billion in 2021 to USD 136.8 billion in 2022. This surge underscores the escalating investments in animal healthcare, positioning the veterinary CRO and CDMO market for substantial growth.
The growth of the veterinary CRO and CDMO market is expected to be propelled by the increasing trend of pet ownership. The term 'pet ownership' pertains to the responsibility of caring for and providing a home for various pets, including animals, birds, or reptiles. Pet owners are increasingly seeking advanced and specialized medical care for their pets, prompting CROs and CDMOs to invest in research and development (R&D) for innovative veterinary medications and therapies addressing specific health conditions in companion animals. A report from the American Pet Products Association in April 2023 highlighted that millennials and Generation Z accounted for nearly half of the pet-owning population in the United States in 2022. This demographic shift is significant due to the strong attachment of millennials and Generation Z to their pets, coupled with their willingness to spend on pet care products and services. Consequently, the growing prevalence of pet ownership is expected to be a driving force behind the veterinary CRO and CDMO market.
A prominent trend gaining traction in the veterinary CRO and CDMO market is product innovation. Companies operating in this market are actively focusing on introducing innovative products to maintain their competitive positions. For example, in June 2022, Vetio, a U.S.-based Contract Development and Manufacturing Organization (CDMO) specializing in animal health, received an Intention to Grant from the European Patent Office (EPO) and a Notice of Allowance from the United States Patent Office (USPTO) for its Starch-Free Soft Chew designed for veterinary applications. Vetio's Soft Chew Technology platform, tailored for animal health, delivers one or more active ingredients in a high-quality dosage form suitable for veterinary pharmaceutical use. Notably, this innovative composition and manufacturing process are starch-free and water-free, making it highly suitable for moisture-sensitive active ingredients.
Companies in the veterinary CRO and CDMO market are leveraging artificial intelligence (AI) to enhance in-clinic diagnostic offerings, thereby ensuring optimal care for dogs and cats. AI, characterized by machine-based learning and human intelligence functionalities, facilitates insightful diagnostics and valuable information. For instance, Zoetis Inc., a U.S.-based drug company, introduced AI-based blood smear testing to its versatile platform, Vetscan Imagyst, in April 2022. This technology incorporates AI blood smear testing, AI fecal, and digital cytology image transfer into a single platform. It enables the identification and counting of polychromatophils (immature red blood cells) and provides complete blood count (CBC) results within minutes. The integration of AI with image recognition technology enhances diagnostic capabilities and provides rapid access to expert clinical pathologists within the Zoetis network.
In May 2023, Argenta, a Belgium-based contract research organization (CRO) and contract development and manufacturing organization (CDMO), acquired Midwest Veterinary Services Inc. for an undisclosed amount. This acquisition aims to enhance the service offerings of both companies, enabling them to provide a broader range of clinical research, product development, and manufacturing solutions. Midwest Veterinary Services Inc. is a US-based firm that specializes in veterinary CRO and CDMO services, concentrating on the development and testing of animal health solutions.
Major companies operating in the veterinary cro and cdmo market include Eurofins Scientific SE, Pharmaceutical Product Development Inc., Syneos Health Inc., Charles River Laboratories Inc., IDEXX Laboratories Inc., Elanco India Private Limited., Inotiv Inc., Promega Corporation, Aenova Group, Sai Life Sciences Ltd., Taconic Bioscience Inc., Avid Bioservices Inc., Frontage Laboratories Inc., Angion Biomedica Corp., knoell Germany GmbH, ClinVet International Pty Ltd., VetPharm Inc., Vetio Animal Health Company, Ridgeway Research Ltd., Drayton Animal Health Ltd., KLIFOVET GmbH, Triveritas Ltd., Cebiphar, Ondax Scientific UK Ltd., Veterinary Research Management (VRM) Ltd., Vetspin Srl, STATKING Animal Health CRO, Arcoblu S.r.l.
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.
The countries covered in the veterinary cro and cdmo market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The veterinary CRO and CDMO market includes revenues earned by entities through contract research, development, and manufacturing services. This encompasses the income generated by these entities for conducting preclinical studies, clinical trials, pharmacokinetics, and pharmacodynamics testing, toxicology studies, formulation development, process optimization, and manufacturing of veterinary drugs and healthcare products. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Veterinary CRO And CDMO Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on veterinary cro and cdmo market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for veterinary cro and cdmo ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The veterinary cro and cdmo market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.