Veterinary CRO Market by Type and Geography - Forecast and Analysis 2022-2026

The veterinary CRO market share is expected to increase to USD 277.21 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.75%.

This veterinary CRO market research report offers information on several market vendors, including Argenta Ltd., Avogadro LS, Cebiphar, Charles River Laboratories International Inc., GD, Ictyopharma, Invetus, Kingfisher International, KLIFOVET GmbH, Knoell, Lohlein and Wolf vet research, Oncovet Clinical Research, ONDAX Scientific SL, Ridgeway Research Ltd., Rockstep Solutions, Veterinary Research Management, VETSPIN SRL, Wageningen University and Research, RTI LLC, and Clinvet among others. Furthermore, this report extensively covers veterinary contract research organization market segmentation by type (clinical trials, toxicology, and market authorization and regulatory support) and geography (North America, Europe, Asia, and Rest of World (ROW)).

What will the Veterinary CRO Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Veterinary CRO Market Size for the Forecast Period and Other Important Statistics

 

Veterinary CRO Market: Key Drivers, Trends, and Challenges

The increase in ownership of companion animals is notably driving the veterinary contract research organization (CRO) market growth, although factors such as stringent government regulations may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the veterinary CRO industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Veterinary CRO Market Driver

One of the key factors driving the global veterinary CRO market growth is the increase in ownership of companion animals. Dogs were owned by 45% in 2020, up from 38% at the end of 2016. While animal rescues and shelters are popular places to get new pets, in 2020, 42% of dog owners and 43% of cat owners stated they got their pets from a store. The COVID-19 pandemic's effects were barely evident in the results. In 2020, people who work from home were eight times more likely to have a new pet. In addition, pet ownership has been associated with lower blood pressure, reduced stress, a lower risk of heart disease, and lower overall health care expenses in recent studies. For instance, according to a poll of pet owners conducted in 2021, 69 million homes in the US possessed at least one dog, making dogs the most popular type of pet in the country. Such factors will drive the market growth in the forecast period. 

Key Veterinary CRO Market Trend

Increase in the prevalence of diseases among companion animals is one of the key veterinary CRO market trends that is expected to impact the industry positively in the forecast period. The most common disorders diagnosed in canine and feline populations are obesity, diabetes, and heartworm disease. Diabetes Mellitus is a long-term condition that necessitates lifelong treatment, medicine, and careful monitoring. Infectious diseases in animals, in addition to chronic disorders, increase the number of visits to veterinary clinics. Atrophic rhinitis, bluetongue, bovine spongiform encephalopathy (BSE), avian influenza, swine influenza, and bovine diarrhea are pathogenic illnesses in animals. As a result, rising concerns about chronic health disorders in companion animals boost the market growth in the coming years.

Key Veterinary CRO Market Challenge

One of the key challenges to the global veterinary CRO market growth is the stringent government regulations. The FDA regulates animal medicines in the same way that it regulates human medicines. The United States Department of Agriculture (USDA), the Food and Drug Administration (FDA), and the Environmental Protection Agency (EPA) are engaged in the approval of animal medications (pesticides such as flea and tick medicine). Animal medicines are extensively researched and tested for safety, purity, and efficacy while awaiting clearance, a process that can take five to seven years and cost tens of millions of dollars. These regulations may reduce new organizations from entering the market, which is expected to hinder the market growth in the forecast years.

This veterinary CRO market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Veterinary CRO Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Argenta Ltd.
• Avogadro LS
• Cebiphar
• Charles River Laboratories International Inc.
• GD
• Ictyopharma
• Invetus
• Kingfisher International
• KLIFOVET GmbH
• knoell
• Lohlein and Wolf vet research
• Oncovet Clinical Research
• ONDAX Scientific SL
• Ridgeway Research Ltd.
• Rockstep Solutions
• Veterinary Research Management
• VETSPIN SRL
• Wageningen University and Research
• RTI LLC
• Clinvet

 

This statistical study of the veterinary CRO market encompasses successful business strategies deployed by the key vendors. The veterinary CRO market is fragmented and the vendors are deploying growth strategies such as technological innovations, market expansion, and investments to compete in the market.

Product Insights and News

• Cebiphar - The company offers veterinary CRO that includes services in terms of analytics, miCRObiology, and veterinary studies as well as technical and regulatory support.  

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The veterinary CRO market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Veterinary CRO Market?

For more insights on the market share of various regions Request for a FREE sample now!

41% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for veterinary CRO in North America. Market growth in this region will be faster than the growth of the market in Rest of World (ROW).

The significant increase in animal healthcare spending and rise in pet ownership will facilitate the veterinary CRO market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The emergence of COVID-19 in 2020 had a negative impact on all countries in North America, particularly the US. The pandemic, on the other hand, had a favorable impact on the veterinary CRO market in North America. Cost constraints in the overall animal healthcare industry, because of the pandemic's economic slowdown, have limited veterinary companies' R and D finances, leading them to outsource these efforts to veterinary CROs, hence supporting market growth. 

Parent Market Analysis

Technavio categorizes the global veterinary CRO market as a part of the global life sciences tools and services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the veterinary CRO market during the forecast period.

Veterinary CRO Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the veterinary CRO market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

What are the Revenue-generating Type Segments in the Veterinary CRO Market?

To gain further insights on the market contribution of various segments Request for a FREE sample

The veterinary CRO market share growth by the clinical trials segment will be significant during the forecast period. Clinical trials can research a variety of areas, such as new ways to prevent, diagnose, or treat diseases, new pharmaceuticals, new surgical procedures or equipment, or new ways to use existing treatments, as well as enhance the quality of life for dogs suffering from chronic illnesses. Thus, the market is expected to be dominated by this segment in the coming years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the veterinary CRO market size and actionable market insights on post COVID-19 impact on each segment.

You may be interested in:

Veterinary Telehealth market - The market share is expected to increase by USD 147 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 17.03%.

Veterinary Scales market - The market share is expected to increase by USD 70.61 million from 2021 to 2026, at a CAGR of 7.40%.

Veterinary Software market - The market share is expected to increase by USD 161.37 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.81%.

Veterinary CRO Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 7.75%
Market growth 2022-2026	$ 277.21 million
Market structure	Fragmented
YoY growth (%)	5.71
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 41%
Key consumer countries	US, Canada, UK, China, and India
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Argenta Ltd., Avogadro LS, Cebiphar, Charles River Laboratories International Inc., GD, Ictyopharma, Invetus, Kingfisher International, KLIFOVET GmbH, knoell, Lohlein and Wolf vet research, Oncovet Clinical Research, ONDAX Scientific SL, Ridgeway Research Ltd., Rockstep Solutions, Veterinary Research Management, VETSPIN SRL, Wageningen University and Research, RTI LLC, and Clinvet
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Request for a FREE sample

What are the Key Data Covered in this Veterinary CRO Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive veterinary CRO market growth during the next five years
• Precise estimation of the veterinary CRO market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the veterinary CRO industry aCROss North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of veterinary CRO market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch