Press release
Veterinary CRO Market to Grow at a CAGR of 7.7% from 2021 to 2030 ; Fueled by Rise in Prevalence of Various Diseases Among Companion Animals
The global veterinary CRO market is propelled by a rise in companion animal ownership, heightened spending on animal health, and a surge in pet diseases prevalence. However, market growth is impeded by the lack of standardization across veterinary CROs. Conversely, increased awareness regarding animal healthcare presents opportunities for market players.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐๐๐ฉ๐จ๐ซ๐ญ-https://www.alliedmarketresearch.com/request-sample/6265
The global veterinary CRO market is segmented by service type, animal type, indication, and region.
In terms of service type, the clinical trials segment held the largest market share in 2020, accounting for approximately one-third of the total share and is projected to maintain its leading position throughout the forecast period. This segment is also expected to experience the highest compound annual growth rate (CAGR) of 8.9% from 2021 to 2030. Additionally, the report covers other segments such as toxicology, market authorization, and regulatory support.
Regarding animal type, the dogs segment dominated the market in 2020, contributing to nearly two-thirds of the total market share and is predicted to continue its dominance during the forecast period. This segment is also forecasted to demonstrate the fastest CAGR of 8.0% from 2021 to 2030.
In terms of region, North America accounted for the largest share in 2020, representing over one-third of the total share, and is expected to remain the dominant region throughout the forecast period. The veterinary CRO market in Asia-Pacific is projected to demonstrate the highest compound annual growth rate (CAGR) of 9.0% during the forecast period.
๐๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐ ๐ฅ๐จ๐๐๐ฅ ๐ฏ๐๐ญ๐๐ซ๐ข๐ง๐๐ซ๐ฒ ๐๐๐ ๐ฆ๐๐ซ๐ค๐๐ญ
Clinvet
Charles River Laboratories, Inc.
KLIFOVET AG
Oncovet Clinical Research
Lรถhlein & Wolf Vet Research
ONDAX Scientific
Veterinary Research Management (VRM) Ltd.
Triveritas
VetPharm, Inc.
VETSPIN SRL
๐๐ฉ๐๐๐ค ๐ญ๐จ ๐๐ฎ๐ซ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ-https://www.alliedmarketresearch.com/connect-to-analyst/6265
๐๐๐ฒ ๐ ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐ญ๐ฎ๐๐ฒ
By service type, the clinical trials segment accounted for a share of 33.67% in the veterinary CRO market in 2020.
Region wise, Asia-Pacific is anticipated to grow at the highest CAGR of 9.0% throughout the forecast period.
In Europe, Germany accounted for 17.91% of the veterinary CRO market, in 2020.
By animal type, the dog segment accounted for a share of 65.90% in the global veterinary CRO market in 2020.
๐๐๐ญ๐๐ซ๐ข๐ง๐๐ซ๐ฒ ๐๐๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐ญ๐ฎ๐๐ฒ ๐๐๐ฒ ๐๐๐ง๐๐๐ข๐ญ๐ฌ
The study provides an in-depth analysis of the veterinary CRO market size along with the current trends and future estimations to elucidate the imminent investment pockets.
It offers veterinary CRO market analysis from 2020 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
A comprehensive analysis of four regions is provided to determine the prevailing opportunities.
The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook and global veterinary CRO market growth.
๐๐ง๐จ๐ฐ ๐๐จ๐ซ๐-https://www.alliedmarketresearch.com/veterinary-cro-market
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Partnership factors in sponsor โ CRO relationships
Drugs discovered today can realistically cost upwards of 900 million dollars and around 12 years of development to reach a market. CROโs have been increasingly used by larger pharma to outsource their clinical research, allowing big pharma to shut down in-house R&D, in practice saving money.
There have been some issues however with the outsourcing of trials to CROs, including serious relationship break down with negative attitudes, failure to communicateโฆ
