Veterinary CRO and CDMO Market

Veterinary CRO and CDMO Market – By Animal Type (Companion, Livestock), Service Type (CRO, [Clinical Trials, Quality Assurance], CDMO [Manufacturing, Development, Packaging & Labelling]), Product (Drugs, Biologics) – Global Forecast 2024 – 2032

Published Date: May - 2025 | Publisher: MIR | No of Pages: 240 | Industry: Animal Health and Nutrition | Format: Report available in PDF / Excel Format

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Veterinary CRO and CDMO Market Size

Veterinary CRO and CDMO Market size was USD 6.2 billion in 2023 and is estimated to reach 8.7% CAGR during the forecast period from 2024 to 2032. The market has experienced significant growth because of the growing incidence of diseases among animals like cancer and zoonotic diseases. This has increased the demand for sophisticated veterinary drugs and biologics.

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In addition, the heightened emphasis on pet healthcare and growing livestock population are also increasingly fueling the need for innovative therapies. Such a requirement for new-age therapies has spiked research and development activities in order to expedite drug development. Thus, pharmaceutical and biotechnology companies are relying more heavily on specialized CROs and CDMOs in order to tap into their skills, expedite development timelines, meet regulatory requirements, and effectively market high-quality animal health products in the market. Therefore, global use of CRO and CDMO services will drive the market growth.

Veterinary CRO and CDMO Market Report Attributes
Report Attribute Details
Base Year 2023
Veterinary CRO and CDMO Market Size in 2023 USD 6.2 Billion
Forecast Period 2024 - 2032
Forecast Period 2024 - 2032 CAGR 8.7%
2032 Value Projection USD 13 Billion
Historical Data for 2021 - 2023
No. of Pages 130
Tables, Charts & Figures 304
Segments covered Animal Type, Service Type, Product, and Region
Growth Drivers
  • Increasing pet ownership
  • Expanding veterinary outsourcing services
  • Increasing zoonotic disease
  • Rising spending on development and research
Pitfalls & Challenges
  • Lack of standardization in veterinary CRO
  • Regulatory challenges and high initial investment costs

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Veterinary CROs & CDMOs are expert service organizations in the veterinary healthcare sector. Veterinary CROs provide drug, and biologics intended for animal development and regulatory support. They undertake preclinical, and clinical studies, handle regulatory filings, and provide drug development expertise for veterinary drugs. Meanwhile, veterinary CDMOs provide manufacturing and production of veterinary drugs and biologics with capabilities ranging from small-scale to commercial-scale production.

Veterinary CRO and CDMO Market Trends

Pharma and biotech organizations are outsourcing to CDMOs and CROs in order to leverage their specialized capabilities for the purpose of producing new animal health products with greater efficiency and quality. This is supported by growing R&D investments within the veterinary industry that fuel the need for sophisticated veterinary drugs and biologics.

  • For example, in May 2022, Argenta Limited, a worldwide CRO and CDMO specialized in animal health, and NovaQuest Capital Management revealed a USD 30 million product financing deal to advance multiple novel veterinary medicines. It was an investment to extend the research capacity in the animal health arena.

Moreover, the growing animal healthcare expenditure, rising incidence of zoonotic infections, enhanced diagnostic technologies, growing government support, and strategic expansions by major players are few of the other factors that propel the market demand.

Veterinary CRO and CDMO Market Analysis

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Depending on the type of animal, the market is divided into companion animals and livestock animals. The companion animal segment is anticipated to dominate the market, registering the highest revenue of USD 3.8 billion in 2023, expecting to be the leader during the forecast period.

  • Companion animals like dogs and cats are treated as family members in most homes which is responsible for the demand for sophisticated companion animal medicines. For example, in 2024, about 66% of U.S. homes with about 86.9 million are said to have pets. Likewise, based on figures from the UK Pet Food Manufacturers Association, about 13.5 million dogs and 12.5 million cats are maintained as pets. Therefore, growing demand for pets is likely to stimulate demand for new formulations.
  • Hence, CROs and CDMOs are responsible for aiding the development and manufacturing of innovative veterinary medicines and therapies to address the changing demands of the companion animal market, which is one of the leading drivers of the overall veterinary outsourcing sector.

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Based on service type, the veterinary CRO and CDMO market is classified into CRO services and CDMO services. The CDMO services segment holds the largest market share of 85.5% in 2023.

  • Pharmaceutical and biotech businesses increasingly turn to specialized CDMOs to execute critical parts of the veterinary pharmaceutical lifecycle. These businesses provide specialty expertise, technical capabilities, and economies of scale, delivering complete solutions from formulation development and production through commercial output and regulatory handling. This lets veterinary businesses retain core competencies, save expenses, and place products on market more quickly.
  • In addition, increasing sophistication in veterinary therapeutics and stringent regulations increase demand for complete CDMO services, leading to this segment dominating the market.

Based on the product, the veterinary CRO and CDMO market is segmented into drugs, biologics, and medicated feed and supplements. The drugs segment is projected to reach USD 6.9 billion by end of 2032.

  • The drugs segment dominance was asserted due to increasing demand for specialized services in drug development and manufacturing. Also, the increasing demand for innovative veterinary medicines to effectively address a variety of animal health issues is driven by advancements in biotechnology and the global growth of pet and livestock populations. Such aforementioned factor is expected to augment the segmental growth.

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U.S. dominated the North American veterinary CRO and CDMO market, accounting for USD 2.2 billion in 2023 and is anticipated to show considerable growth over the analysis period.

  • This dominance is driven by high pet ownership rates, and significant investment in R&D.  Also, high veterinary healthcare spending in the U.S. tends to further expand the market. For instance, according to the American Pet Products Association, in 2022, pet owners spent USD 31.5 billion on supplies, live animals, and medicine, and USD 35.9 billion on veterinary care and products. Thus, the increasing expenditure on veterinary care is driving the demand for effective treatment options.
  • Furthermore, the country is known for significant investments in research and development, which promotes innovation and enhances the capabilities of veterinary services, thereby augmenting the country level market growth.

Germany exhibited a high growth potential in the European veterinary CRO and CDMO market.

  • Germany is well-positioned in the market due to its developed healthcare infrastructure and solid regulatory environment. The country's comprehensive pharmaceutical sector and focus on research and development are major contributing factors. For example, Germany's biotech industry has been growing, with more and more investments in animal medicine. This is reflective of Germany's crucial role in delivering premium quality CRO and CDMO services to meet global needs for sophisticated animal health products effectively.

The Asia Pacific veterinary CRO and CDMO market is poised for rapid growth with a CAGR of 9.1% during the forecast period.

  • The region has a high livestock industry particularly in nations like China, India, and Australia, which drive the growth of the market. The demand for effective animal health products has raised the demand for outsourced manufacturing and R&D services.
  • Furthermore, increasing investment in veterinary healthcare combined with the growth of biotechnology as well as increasing emphasis on animal well-being are driving the use of new treatments.
  • Therefore, all these factors together set the Asia Pacific region in a position to grow and venture into opportunities within the market.

Veterinary CRO and CDMO Market Share

The market is defined by a variety of providers providing specialized services in drug development, manufacturing, and regulatory services for veterinary pharmaceuticals. The providers compete on the basis of their clinical trial management expertise, formulation development expertise, and compliance with global regulatory requirements. Additionally, the most important factors driving competition are technological capabilities, geographic presence, regulatory expertise, and the capability to customize services to address the changing needs of clients in the animal health industry.

Veterinary CRO and CDMO Market Companies

Few of the prominent players operating in the veterinary CRO and CDMO industry include

Veterinary CRO and CDMO Industry News

  • In May 2024, EUROAPI entered into a CMO agreement with a global animal health company. Under this collaboration, EUROAPI will provide a key veterinary product to its client. This agreement aimed to enhance EUROAPI's presence in the CDMO sector, highlighting its expansion and capabilities in the veterinary pharmaceutical industry.
  • In February 2024, GNT Pharma signed an agreement with Pfizer's contract manufacturing arm, Pfizer CentreOne, for the overseas production of its veterinary drug ‘GedaCure’, a chewable tablet for dogs with cognitive dysfunction syndrome (CDS). Pfizer CentreOne will provide CDMO services in countries including the U.S, and Europe where GNT Pharma has launched GedaCure. This collaboration strengthened GNT Pharma's global reach and production capabilities for its innovative veterinary drug.

The veterinary CRO and CDMO market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments

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Market, By Animal Type

  • Companion animals
  • Livestock animals

Market, By Service Type

  • CRO services
    • Clinical trials
    • Toxicology
    • Quality assurance
    • Regulatory services
    • Other CRO services
  • CDMO services
    • Manufacturing
    • Development
    • Packaging & labeling
    • Market approval & post-marketing
    • Other CDMO services

Market, By Product

  • Drugs
  • Biologics
  • Medicated feed and supplements

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • The Netherlands
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • Saudi Arabia
    • South Africa
    • UAE
    • Rest of Middle East and Africa

 

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