Ad Blocker Detected
Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker.
PORTLAND, Ore., February 1, 2021 / PRNewswire / – Allied Market Research released a report titled Veterinary CRO Market by Service Type (Clinical Trials, Toxicology, Marketing Authorization and Regulatory Support, etc.), Application (Dogs, Cats, and Others), and End-User (Oncology, Infectious Diseases, Neurology, and Other): Global Opportunity Analysis and Industry Forecast, 2020-2027. “According to the report, the global veterinary CRO industry has generated $ 771.8 million in 2019 and is estimated to collect $ 1.26 billion in 2027, which corresponds to a CAGR of 7.7% from 2020 to 2027.
Download the detailed COVID-19 Impact Sample Report at https://www.alliedmarketresearch.com/request-for-customization/6265?reqfor=covid
Driver, Limitations and Opportunities
The increase in pet ownership, the rise in animal health spending, and the prevalence of disease in pets are driving the growth of the global Veterinary CRO market. However, the lack of standardization of veterinary CROs is hindering market growth. On the other hand, raising awareness of animal health offers new opportunities in the years to come.
- Most practices in the animal health industry have been affected due to transportation restrictions, limited human resources and statewide lockdowns during the Covid-19 pandemic.
- The pandemic caused an economic slowdown. This placed restrictions on the funding of R&D activities for veterinary companies and they had to outsource these activities.
- Research and development activities for the development of Covid-19 veterinary vaccines and antiviral drugs have increased significantly as several cases of infections in dogs and cats have been reported.
The clinical trials segment is expected to maintain its leadership status over the forecast period
Based on the type of service, the clinical trials segment contributed the largest market share, accounting for nearly a third of the global veterinary CRO market in 2019 and will maintain its leadership status over the forecast period. In addition, the highest CAGR of 8.5% is forecast for this segment from 2020 to 2027. This is due to the amount of time it takes to complete the clinical trial process, which encourages the outsourcing of the service. The report also provides detailed analysis of segments including toxicology, regulatory and regulatory support, and others.
For purchase inquiries at: https://www.alliedmarketresearch.com/purchase-enquiry/6265
The dog segment should maintain its dominant share in the forecast period
In terms of animal type, the dog segment had the highest share of sales in 2019, contributing more than two-fifths of the global veterinary CRO market. It is estimated that it will retain its dominant share over the forecast period. In addition, this segment is expected to grow from 2020 to 2027 with the highest CAGR of 8.3%. This is due to the increasing use of dogs as companion animals around the world. The study also analyzes segments like cats and others.
North America keep his leadership position until 2027
Based on the region, North America held the largest market share in 2019 with a share of more than a third of the global veterinary CRO market and will maintain its leading position through 2027. This is due to the lower availability of CRO products, the increase in animal ownership, and the increase in animal health spending. However, Asia Pacific The forecast period is forecast to see the highest CAGR of 8.9% as animal health awareness has risen in the population.
Leading market players
- Charles River Laboratories, Inc.
- KLIFOVET AG
- Oncovet Clinical Research
- Löhlein & Wolf veterinary research
- ONDAX Scientific
- VetPharm, Inc.
- Veterinary Research Management (VRM) Ltd.
- VETSPIN SRL
Avenue ground plan | Library access | 1 year subscription |
Sign up for the Avenue subscription to access 12,000+ company profiles and 2,000+ niche market research reports at $ 699 per month and seat. The customer must purchase at least 2 seats for one year.
Avenue Library Subscription | Request a 14-day free trial before purchasing: https://www.alliedmarketresearch.com/avenue/trial/starter
For more information, please visit: https://www.alliedmarketresearch.com/library-access
We have also published some syndicated market research in a similar area that may be of interest to you. Below is the title of the report for your reference considering the impact of Covid-19 on this market, which will help you to assess the impact of the pandemic on the short term and long term growth trends of this market.
Veterinary Point-of-Care Blood Gas Analyzers Market – Global Opportunity Analysis & Industry Forecast, 2020-2027
Veterinary Diagnostics Market – Global Opportunity Analysis and Industry Forecast, 2019-2027
Veterinary Imaging Market- Global Opportunity Analysis and Industry Forecast, 2019-2027
Veterinary / Animal Vaccines Market – Global Opportunity Analysis & Industry Forecast, 2019-2027
Veterinary Equipment and Disposables Market – Global Opportunity Analysis and Industry Forecast, 2019-2027
Veterinary Medicine Market – Global Opportunity Analysis and Industry Forecast, 2019-2027
Veterinary Radiography Market – Global Opportunity Analysis and Industry Forecast, 2019-2027
Allied Market Research (AMR) is a full-service market research and management consulting division of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides unmatched quality of “market research reports” and “business intelligence solutions” to global companies as well as medium and small businesses. AMR strives to provide business insights and advice to assist its clients with strategic business decisions and sustainable growth in their respective market areas.
We have professional corporate relationships with various companies and this helps us unearth market data which will help us create accurate research data tables and confirm the highest accuracy of our market forecasts. All of the data contained in the reports we publish are extracted through primary interviews with top officials from leading companies in the affected domain. Our secondary data retrieval methodology includes extensive online and offline research and discussions with knowledgeable professionals and industry analysts.
5933 NE Win Sivers Drive
# 205, Portland, OR 97220
USA/.Canada (Toll Free): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
United Kingdom: + 44-845-528-1300
Hong Kong: + 852-301-84916
India (Pune): + 91-20-66346060
Follow us on LinkedIn: https://www.linkedin.com/company/allied-market-research
SOURCE Allied Market Research