Global Veterinary CRO Market Size All Set to Reach $894.7 Million By 2026.

The global veterinary CRO market was valued at $485.5 million in 2018, and is expected to reach $894.7 million by 2026, registering a CAGR of 7.9% from 2019 to 2026.

Contract research organizations (CROs) are companies that aid in conducting research for a sponsor company. Moreover, veterinary CROs are companies, which are specialized in in-vivo studies that involve companion animals. Sponsor companies seek provision from veterinary CROs to support research and development programs for biopharmaceutical industries. Furthermore, different types of services are provided by veterinary CROs such as clinical trials, toxicology, and market authorization & regulatory support. These services are utilized by veterinary medicine manufacturers to test the safety and efficacy of veterinary drugs, which are used in different indications such as oncology, neurology, and infectious diseases.

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The factors that boost the growth of the veterinary CRO market include surge in ownership of companion animals and rise in animal health expenditure. Furthermore, other factors such as increase in prevalence of various diseases among companion animal acts as a major factor that contributes toward the growth of the market. However, lack of standardization in veterinary CROs is a factor that restrains the growth of the market. Conversely, surge in awareness related to animal healthcare across the globe is expected to provide lucrative opportunities in the market during the forecast period.

The veterinary CRO market is segmented into service type, animal type, indication, and region. On the basis of service type, the market is divided into clinical trials, toxicology, market authorization & regulatory support, and others. By animal type, the market is classified into dogs, cats, and others. Depending on indication, it is categorized into oncology, infectious disease, neurology, and others. Region wise, it is analyzed across North America (U.S, Canada, and Mexico) and Europe (Germany, France, Italy, Spain, UK and rest of Europe), Asia-Pacific (Japan, China, Australia, rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa and rest of LAMEA).

KEY BENEFITS FOR STAKEHOLDERS
o This report entails a detailed quantitative analysis along with the current global veterinary CRO market trends from 2019 to 2026 to identify the prevailing opportunities along with the strategic assessment.
o The market size and estimations are based on a comprehensive analysis of key developments in the industry.
o A qualitative analysis based on innovative service types facilitates strategic business planning.
o The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market

Key Market Segments
By Service Type
o Clinical Trials
o Toxicology
o Market Authorization & Regulatory Support
o Others

By Animal Type
o Dogs
o Cats
o Others

By Indication
o Oncology
o Infectious Disease
o Neurology
o Others

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List of key players profiled in the report:
o Charles River Laboratories, Inc.
o Clinvet
o KLIFOVET AG
o Llein & Wolf Vet Research
o Oncovet Clinical Research
o ONDAX Scientific
o Triveritas
o Veterinary Research Management (VRM) Ltd
o VetPharm, Inc.
o VETSPIN SRL

LIST OF OTHER PLAYERS IN THE VALUE CHAIN (These players are not profiled in the report. The same will be included on request)
o AlcheraBio
o Likarda

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