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Key Market Trends

Clinical Trial Support​ Segment is Expected to Hold a Major Market Share in the Veterinary CRO Market

Clinical Trial Support Segment is expected to be dominant in the veterinary CRO market. The higher prevalence of diseases in animals is expected to be the major factor to impact on this segment. According to the Health for Animals, Global Animal Medical Association, each year one out of five farm animals die due to preventable diseases. This 20% of animal lost can cause a heavy losses to the farmers. According to the above mentioned source, the animal deaths have costed around 80 billion USD of losses over the 12 years.

In addition, growing awareness about the importance of veterinary healthcare management is expected to drive the market growth. According to the study “Current Status of the Use of Antibiotics and the Antimicrobial Resistance in the Chilean Salmon Farms”, in 2016, around 382.5 tons of antibiotics were used for treating salmon fishes. It is expected to boost the demand for novel drugs and vaccines for treating animals.

Moreover, outsourcing the clinical trials for developing these drugs helps the manufacturers to save their cost and time, and also manage the clinical trials effectively. Hence, these factors are expected to influence positively on the clinical trial support segment market.

Asia-Pacific is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

Asia-Pacific is expected to be a dominant region in veterinary CRO market with the growing animal husbandry practices and the need for managing the animal healthcare. According to the data of National Bureau Statistics of China, in 2017, the animal husbandry and fishery industry managed to produce an output of around 3148.6 per 10,000 tons for milk and aquaculture products were accounted to be around 6445.3 per 10,000 tons. Also, according to the report of World Organization of Animal Health, in 2016, the number of cases for avian influenza (H5N1) in the domestic poultry was around 5880 in the Eastern Asian region. Furthermore, World Animal Protection has established a program, ‘’Nation’s Rabies Control Prevention Plan” that encourages vaccination, other treatment and education of rabies in animals among people which is expected to strengthen the need and importance of veterinary healthcare management which may fuel the growth of Veterinary CRO market in Asia-Pacific region. Therefore, these factors are expected to drive the veterinary CRO market growth in this region.

Competitive Landscape

The Veterinary CRO Market is being currently dominated by few of the key players such as Charles River Laboratories, Inc., Clinvet, Klifovet AG, Löhlein and wolf vet research, Oncovet Clinical Research, Ondax Scientific, Triveritas, Veterinary Research Management, Vetpharm, Inc. and Vetspin SRL.

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1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Burden of Diseases in Animals
4.2.2 Increasing Expenditure on Research and Development Activities
4.3 Market Restraints
4.3.1 Lack of Skilled Professionals
4.4 Porter’s Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

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