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Exploring the Veterinary Clinical Trials Market: Detailed Insights on Size, Share, and Growth Potential

The global veterinary clinical trials market size is expected to reach USD 8.99 billion by 2030, exhibiting a CAGR of 9.0% from 2024 to 2030, according to a new report by Grand View Research, Inc. The key factors driving industry growth include increased R&D expenditure by key players, rising prevalence of chronic diseases in animals, advancements in veterinary medicines, and rise in strategic alliances. For instance, in April 2024, Boehringer Ingelheim, a biopharmaceutical company focused on both human and animal health invested USD 593.5 Mn in animal health R&D to accelerate veterinary clinical trials as well as to develop innovative veterinary medicine.

Veterinary Clinical Trials Market Report Highlights

  • Ongoing advancements in veterinary medicine drive the demand for veterinary clinical trials to improve animal health and welfare. Additionally, growing R&D investments by key players to innovate veterinary medicine are expected to boost market demand.
  • By animal type,companion animal segment dominated the market in 2023 and is projected to witness the fastest growth rate of 9.5% in the coming years. Furthermore, among companion animals, canines segment is holding highest market share in 2023.
  • In terms of indication, oncology segment dominated the market with a share of 27.51% in 2023, owing to the rising prevalence of cancers in animals and growing R&D investment for veterinary oncology. Whereas internal medicine segment is expected to grow at the fastest rate of over 10.2% in the coming years.
  • Based on the sponsor, pharmaceutical and biopharmaceutical companies segment dominated the market in 2023, and the academics and research centers segment is expected to grow at the fastest rate of over 9.8% in the coming years.
  • Medicines accounted for the largest market share by intervention type in 2023. However, medical device segment is estimated to witness the highest growth rate of around 10.0% in the near future.
  • In 2023, North America held the highest share of 33.70% of the market by region.The Asia Pacific region is expected to grow at the fastest rate of over 10.1% in the coming years.

For More Details or Sample Copy please visit link @: Veterinary Clinical Trials Market Report

Additionally, an increasing number of clinical trials for rare diseases in pets is expected to drive veterinary clinical trial market. Veterinary clinics and research institutions are undertaking specialized clinical trial initiatives focused specifically on rare canine cancers. These trials aim to investigate novel treatment approaches, including targeted therapies, immunotherapies, and precision medicine techniques designed for individual dogs' genetic profiles. For instance, in March 2024, Vivesto AB initiated its Paccal Vet clinical trial for dogs with splenic hemangiosarcoma, marking a significant step toward addressing this challenging cancer type in canines. The trial aims to assess the safety and efficacy of Paccal Vet, formulated with XR-17 technology, with promising results potentially leading to further pivotal studies.

There is a growing focus on preventive care in veterinary medicine. Clinical trials aimed at developing preventive treatments, such as vaccines and early diagnostic tools, are becoming more common. Furthermore, veterinary clinics and research institutions are launching specialized clinical trial initiatives focused specifically on rare canine cancers. These trials aim to investigate novel treatment approaches, including targeted therapies, immunotherapies, and precision medicine techniques tailored to individual dogs' genetic profiles.

List of Key Players in the Veterinary Clinical Trials Market

  • Charles River Laboratory
  • IDEXX Laboratories, Inc.
  • Boehringer Ingelheim International GmbH.
  • Argenta
  • Bioagile Therapeutics Pvt. Ltd.
  • Veterinary Research Management
  • Merck & Co., Inc.
  • Labcorp Drug Development
  • OCR - Oncovet Clinical Research
  • Vivesto AB
  • Vetbiolix

Gain deeper insights on the market and receive your free copy with TOC now @: Veterinary Clinical Trials Market Report

We have segmented the global veterinary clinical trials market based on animal, indication, intervention, sponsor, and region.

Veterinary Clinical Trials Animal Outlook

  • Companion Animal
  • Livestock Animal
  • Other Animals

Veterinary Clinical Trials Indication Outlook

  • Oncology
  • Internal Medicine
  • Orthopedics
  • Cardiology
  • Neurology
  • Ophthalmology
  • Dermatology
  • Other Indication

Veterinary Clinical Trials Intervention Outlook

  • Medicines
  • Medical Device
  • Others

Veterinary Clinical Trials Sponsor Outlook

  • Pharmaceutical And Biopharmaceutical Companies
  • Academics And Research Centers
  • Others

Veterinary Clinical Trials Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa    

Research Methodology

We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

 

Contact:

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll-Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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#VeterinaryClinicalTrialsMarket #VeterinaryCRO #VeterinaryClinicalStudies #VeterinaryClinicalInvestigation #ClinicalTrials #VeterinaryCenter #VeterinaryMedicine #AnimalHealth #Biomarkers #VeterinaryCare #VeterinaryClinics

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