Veterinary CROs are described as organizations offering services that support the veterinary drug discovery processes in veterinary drug companies. For example, some of the services veterinary CROs offer include market authorization support, regulatory support, support for clinical trials and toxicology studies.
Veterinary CROs market, based on end user was segmented into biopharmaceutical companies and others. Biopharmaceutical Companies among all is leading the market. Pharmaceutical and biopharmaceutical companies are increasingly adopting the trend of outsourcing research activities to contract research organizations as one of the strategies to remain flexible and competitive in the pharmaceutical industry.
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Leading companies operating in the veterinary CROs market are Charles River Laboratories, Inc., Clinvet, Klifovet Ag, Löhlein and Wolf Vet Research, Oncovet Clinical Research, Ondax Scientific, Triveritas, Veterinary Research Management (VRM) LTD, VetPharm, Inc., Vetspin SRL among others.
The Indication segment in this study include into oncology, infectious diseases, neurology, and others. The oncology market is particularly found among pet that live for more than ten years. These animals are then recommended and given appropriate radiotherapy, chemotherapy, and surgery as per the individual condition. The common types of cancer found among animals include skin tumors, breast cancer, head and neck cancer, lymphoma, testicular tumors, bone tumors, and abdominal tumors.
Global veterinary CROs market, based on application was segmented into pets, livestock and wild. The pet market witnessed the highest share in 2019 and is expected to show noteworthy growth during the forecast period owing to various applications in different fields.
Clinical trials segment captured the largest share in the global veterinary CROs market. clinical trials Clinical trials for veterinary medical products refer to a study of the effects of medical drugs or products on target animal species with an objective to assess its efficacy, safety, absorption, distribution, metabolism, and excretion. These trials are needed to be conducted in the justifiable means of veterinary medicines with sufficient information available regarding the product’s analytical and behavioral properties. Veterinary clinical studies aim to improve scientific knowledge to find effective and best ways for prevention, diagnosis, and disease treatment of various conditions affecting animals.
In 2016 The total US pet industry spending is estimated to reach $69.36 billion, up from $66.75 billion. According to American Pet Products Association's 2019-2020 National Pet Owners Survey, the North American Pet Health Insurance Association (NAPHIA) announced that the U.S. and Canada pet health insurance market posted a combined gross paid premium of 1.42 billion dollars in 2018, up from 1.15 billion dollars in 2017. At the end of 2018, the total number of covered pets hit 2.43 million, up by more than 17 per cent from 2017. Therefore, rise in animal health care expenditure is giving rise in Veterinary CRO market during forecast period.
- This report is a business analysis that examines market trends for Veterinary CROs. The report includes sections on the following topics
- Current prevalence of Veterinary CROs, trend analysis and factors influencing future incidence.
- Market analysis by treatment type, including annual incidence and trend analysis.
- Risk factors and other drivers that may impact the future incidence of Veterinary CROs.
- Review of the major market opportunities by identifying specific high-growth and emerging market opportunities.
- Market share and information on key market players.
- Analysis and forecast of the revenues for Veterinary CROs for the global market, major market subsegments subdivided by geographic region and further, by selected country.
- Detailed review of the current products, their indications for all identified market segments.
- Profile of the individual market subsegments within the major market segments analyzed and the distinguishing features of each of the market subsegments.
- Detailed overview of the Veterinary CROs and corresponding global markets
- Country specific data and analysis for France, Germany, Italy, U.K., Spain, Russia, India, China, Japan, United States, Canada, Middle East and Africa
- Evaluation of market dynamics with a focus on increasing prevalence of Veterinary CROs cases, technological advancements
- A look into regulatory environment, new products launces and technological advancements, and current strategies within the market
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.