Veterinary Clinical Trials Market Size Worth $10,168.89 Million By 2032 | CAGR: 9.8%

The global veterinary clinical trials market size is expected to reach USD 10,168.89 million by 2032, according to a new study by Polaris Market Research. The report “Veterinary Clinical Trials Market Size, Share, Trends, Industry Analysis Report, By Animal Type (Livestock Animal, Companion Animal, Others Animal); By Intervention; By Indication; By End Use; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing number of pets globally, particularly in regions experiencing economic growth and urbanization, fuels the demand for veterinary clinical trials. Pet owners seek effective and innovative healthcare solutions for their animals.

The prevalence of various diseases in pets and livestock, such as cancer, diabetes, infectious diseases, and chronic conditions, necessitates the development of new therapies. Clinical trials are essential to evaluate the safety, efficacy, and benefits of these treatments.

Regulatory bodies worldwide require rigorous testing through clinical trials to ensure the safety, quality, and efficacy of veterinary products before they can be marketed and used widely. Incorporating advanced technologies, such as digital health solutions, telemedicine, and wearable devices, into veterinary clinical trials can enhance data collection, monitoring, and patient care. Companies investing in these technologies can gain a competitive advantage.

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Pharmaceutical companies and biotech firms invest significantly in veterinary research and development, driving demand for clinical trials to translate scientific discoveries into practical applications. The globalization of veterinary healthcare services and the increasing adoption of standards for animal health and welfare across regions contribute to the growth of the veterinary clinical trials market.

Furthermore, academic institutions and research organizations are increasing their investment and funding in the veterinary research market. This growth is fueled by expanded funding opportunities, a focus on translational research, advancements in veterinary science, increased demand for veterinary expertise, educational priorities, public health considerations, and global health initiatives. These factors collectively contribute to a notable increase in robust and comprehensive veterinary research.

Veterinary Clinical Trials Market Report Highlights

• In 2023, the companion animal segment accounted for the largest market share due to a rise in pet ownership globally, driven by changing lifestyles, urbanization, and increased disposable income.
• The oncology segment accounted for the largest market share in 2023 due to the significant prevalence of cancer in companion animals and livestock, leading to a pressing need for effective treatments.
• In 2023, North America dominated the largest market due to well-developed infrastructure for veterinary healthcare, including advanced clinics, hospitals, and research institutions.
• The Asia Pacific veterinary clinical trials market is expected to grow at a significant CAGR during the forecast period. Pharmaceutical companies and biotech firms are increasingly investing in research and development (R&D) initiatives in Asia Pacific.
• The global key market players include Bioagile Therapeutics Pvt. Ltd., Argenta, Boehringer Ingelheim International GmbH., Clinvet, IDEXX Laboratories, Inc., Charles River Laboratory, Labcorp Drug Development, Merck & Co., Inc., Ondax Scientific, and Vivesto AB.   

Polaris Market Research has segmented the veterinary clinical trials market report based on animal type, Intervention, Indication, end-user, and region:

Veterinary Clinical Trials, Animal Type Outlook (Revenue - USD Million, 2019 - 2032)

• Livestock Animal
• Companion Animal
• Other Animals

Veterinary Clinical Trials, Intervention Outlook (Revenue - USD Million, 2019 - 2032)

• Medicines
• Medical Device
• Others

Veterinary Clinical Trials, Indication Outlook (Revenue - USD Million, 2019 - 2032)

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

Veterinary Clinical Trials, End-User Outlook (Revenue - USD Million, 2019 - 2032)

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

Veterinary Clinical Trials, Regional Outlook (Revenue - USD Million, 2019 - 2032)

• North America

• US
• Canada

• Europe

• Germany
• France
• UK
• Italy
• Spain
• Netherlands
• Russia
• Rest of Europe

• Asia-Pacific

• China
• Japan
• India
• Malaysia
• South Korea
• Indonesia
• Australia
• Vietnam
• Rest of Asia-Pacific

• Middle East & Africa

• Saudi Arabia
• UAE
• Israel
• South Africa
• Rest of Middle East & Africa

• Latin America

• Mexico
• Brazil
• Argentina
• Rest of Latin America

Veterinary Clinical Trials Report Scope