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Global Veterinary CRO and CDMO Market Report 2023: Growth Surge in Asia-Pacific & Innovative Product Trends
Global Veterinary CRO and CDMO Market
Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Veterinary CRO And CDMO Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global veterinary CRO (Contract Research Organization) and CDMO (Contract Development and Manufacturing Organization) sector is experiencing significant growth, as evidenced by a new comprehensive research publication that has been added to our expansive suite of market analysis offerings.
This addition provides an in-depth prognosis and critical insights into the veterinary CRO and CDMO market, presenting data-driven projections and evaluations of current industry trends, services, key players, and future market scenarios.
Substantial Market Expansion Forecasted Through 2027
The veterinary CRO and CDMO market is poised for robust expansion, with projections indicating a rise from $5.86 billion in 2022 to an estimated $9.03 billion by 2027, marking an impressive CAGR of 8.80%. This growth trajectory is attributable to several factors, including increased investments in animal healthcare, a heightened demand for veterinary services, and the rising prevalence of animal diseases.
Innovation in Veterinary Health Products
The research highlights that product innovation is catalyzing the market, with corporations concentrating on advancing their offerings to solidify their market presence. Recent advancements, such as the development of starch-free soft chew technologies for veterinary applications, are sustaining these market dynamics and endorsing continued growth and innovation.
Asia-Pacific Emerges as Fastest-Growing Market
Amidst global market developments, Asia-Pacific is gaining attention as the fastest-growing region in the veterinary CRO and CDMO landscape. This growth is supported by increasing investments in animal health and the growing adoption of veterinary healthcare practices within the region.
Diverse Offerings Propel Market Players
Market leaders are expanding their portfolios through acquisitions and enhancing their service offerings, as observed in recent industry maneuvers.
The report dissects the competitive landscape, highlighting companies that are pioneering in the veterinary CRO and CDMO space.
North America Maintains Dominance
While Asia-Pacific shows rapid growth, North America continues to hold the largest share of the veterinary CRO and CDMO market. This dominance is supported by advanced healthcare infrastructure, a robust research environment, and substantial investments in veterinary sciences.
Comprehensive Geographic and Segment Analysis
The report provides a granular analysis of different regions and countries, with a detailed breakup of market segments across various applications, such as medicines, medical devices, pharmaceuticals, and biologics. This segmentation offers stakeholders a lucid understanding of both the macro and microelements influencing the market dynamics. The significance of this research publication stems from its utility to industry stakeholders, enabling them to make informed decisions backed by reliable data and analysis.
The veterinary CRO and CDMO market research report not only encapsulates the market's quantitative aspects but also sheds light on qualitative factors such as market trends, opportunities, and the competitive landscape, providing a holistic view of the market’s direction.
For further insights and a more comprehensive understanding of the veterinary CRO and CDMO market, stakeholders and interested parties are encouraged to explore the full research report, which now featured on our website.
Key Attributes
Report Attribute | Details |
No. of Pages | 175 |
Forecast Period | 2023 - 2027 |
Estimated Market Value (USD) in 2023 | $6.44 billion |
Forecasted Market Value (USD) by 2027 | $9.03 billion |
Compound Annual Growth Rate | 8.8% |
Regions Covered | Global |
A selection of companies mentioned in this report includes
Labcorp Drug Development India Private Limited
Zoetis Inc.
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.
For more information about this report visit https://www.researchandmarkets.com/r/bf9ste
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