The global veterinary clinical trials market size is expected to reach USD 10,168.89 million by 2032, exhibiting a compound annual growth rate (CAGR) of 9.8% during the forecast period (2024 – 2032).
The veterinary clinical trials market involves the assessment of novel veterinary drugs, vaccines, and treatments in animals to determine their safety, efficacy, and quality before regulatory approval. These trials are essential for advancing animal healthcare, improving disease management, and ensuring animal welfare. With the increasing prevalence of animal diseases, a growing pet ownership rate, and rising investments in veterinary research, the market is experiencing notable growth.
Market Growth Drivers
- Rising Prevalence of Animal Diseases
- Diseases such as parasitic infections, zoonoses, and chronic ailments like cancer in pets have spurred the need for effective treatments.
- For instance, the rising occurrence of canine lymphoma has driven interest in innovative therapies and clinical trials.
- Increasing Pet Ownership and Expenditure
- With pet ownership on the rise, particularly in urban areas, there is growing demand for high-quality veterinary care.
- This trend correlates with increased spending on pet health, fostering market growth.
- Growth in Livestock Production
- Rising demand for animal-derived food products has led to greater emphasis on livestock health.
- Veterinary clinical trials are crucial for ensuring the efficacy of treatments and vaccines for large-scale animal populations.
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Key Companies in the veterinary clinical trials market include
- Argenta
- Bioagile Therapeutics Pvt. Ltd.
- Boehringer Ingelheim International GmbH.
- Charles River Laboratory
- Clinvet
- IDEXX Laboratories, Inc.
- Labcorp Drug Development
- Merck & Co., Inc.
Key Market Trends
- Rise of Precision Medicine in Veterinary Care
- Advances in genomics and biomarkers are paving the way for personalized veterinary treatments, necessitating trials tailored to specific animal breeds or conditions.
- Increasing Use of Digital Technologies
- Telemedicine, wearable devices, and electronic health records (EHRs) are becoming integral to monitoring animal health during clinical trials.
- Growth in Companion Animal Trials
- Companion animals like dogs and cats now constitute a significant portion of trials due to the growing pet healthcare market.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:
The research report categorizes the market into various segments and sub-segments. The primary segments covered in the study include type, application, end use and region. The splitting of the market into various groups enables businesses to understand market preferences and trends better. Also, stakeholders can develop products/services that align with the diverse needs of consumers in the industry. Besides, the research study includes a thorough examination of all the major sub-segments in the market.
Veterinary Clinical Trials Animal Type Outlook
- Livestock Animal
- Companion Animal
- Other Animals
Veterinary Clinical Trials Intervention Outlook
- Medicines
- Medical Device
- Others
Veterinary Clinical Trials, Indication Outlook
- Orthopedics
- Oncology
- Cardiology
- Ophthalmology
- Neurology
- Dermatology
- Internal Medicine
- Other Indication
Veterinary Clinical Trials End User Outlook
- Academics And Research Centers
- Pharmaceutical And Biopharmaceutical Companies
- Others
Veterinary Clinical Trials Industry Developments
- June 2024: Merck Animal Health, a division of Merck & Co., Inc., announced USDA approval for NOBIVAC NXT Canine Flu H3N2, an advanced solution aimed at protecting dogs from canine influenza. The product is set to be accessible at veterinary clinics and hospitals across the United States.
- April 2024: VETBIOLIX announced positive results from the proof-of-concept clinical study of its drug candidate VBX-1000 for periodontal disease in dogs.
- April 2022: Charles River Laboratories International, Inc. acquired Explora BioLabs Holdings, Inc., to broaden Charles River’s Accelerator and Development Lab (CRADL), a part of its Insourcing Solutions business which offers fully equipped, AAALAC-accredited vivarium rental spaces, supported by Charles River’s extensive technical, vivarium, and veterinary capabilities.
The veterinary clinical trials market plays a pivotal role in advancing animal healthcare and ensuring the safety and efficacy of veterinary treatments. The increasing prevalence of animal diseases, rising pet ownership, and innovations in veterinary medicine are driving the market’s growth. However, addressing challenges like high costs, ethical concerns, and regulatory complexities will be crucial for sustaining growth in this sector. As research and technological integration continue to evolve, the market is poised for significant advancements in the years to come.