Feb 26, 2020

February 26, 2020 09:00 AM Eastern Standard Time 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-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. The factors that boost the growth of the veterinary CRO market include a 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, a surge in awareness related to animal healthcare across the globe is expected to provide lucrative opportunities in the market during the forecast period. Key Benefits of the Report 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. The market size and estimations are based on a comprehensive analysis of key developments in the industry. A qualitative analysis based on innovative service types facilitates strategic business planning. The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market Key Findings of the Study: By service type, the clinical trials segment accounted for a share of one-thirds share in the veterinary CRO market in 2018. Region wise, Asia-Pacific is anticipated to grow at the highest CAGR of 9.4% throughout the forecast period. Rest of Europe accounted for one-thirds share of the veterinary CRO market, in 2018. By animal type, others segment accounted for a one-fourths share of in the veterinary CRO market in 2018. Key Topics Covered: 3.3.1.2. Rise In Animal Health Expenditure 3.3.1.3. Increase In Prevalence of Various Diseases Among Companion Animals 3.3.2. Restraint 3.3.3. Opportunity 3.3.4. Impact Analysis 4.1. Overview 4.2. Clinical Trials 4.2.2. Market Size And Forecast, By Region 4.2.3. Market Analysis By Country 4.3. Toxicology 4.3.2. Market Size And Forecast, By Region 4.3.3. Market Analysis By Country 4.4. Market Authorization And Regulatory Support 4.4.1. Key Market Trends And Growth Opportunities 4.4.2. Market Size And Forecast, By Region 4.4.3. Market Analysis By Country 4.5. Others 4.5.2. Market Size And Forecast, By Region 4.5.3. Market Analysis By Country Chapter 5: Veterinary Cro Market, By Animal Type 5.1. Overview 5.2. Dogs 5.2.2. Market Analysis By Country 5.3. Cats