The market can be segmented into various sub-segments, each catering to a specific aspect of veterinary CRO and CDMO services. One sub-segment from each segment is discussed in detail below.
Clinical Trials Segment:
Under the clinical trials segment, a significant sub-segment is the preclinical testing services. Preclinical testing plays a crucial role in evaluating the safety and efficacy of veterinary drugs and treatments before they can be approved for commercial production. This sub-segment involves conducting various tests, such as pharmacokinetic studies, toxicology testing, and bioanalysis services, among others. Preclinical testing services provide valuable data to support the development and regulatory approval of veterinary therapeutics.
Contract Manufacturing Segment:
Another important sub-segment in the contract manufacturing segment is drug formulation services. Drug formulation services involve the development and production of various dosage forms, including tablets, injectables, liquids, and powders, tailored to meet the specific needs of veterinary drugs. These services ensure the precise formulation and manufacturing of drugs, adhering to strict quality standards. Drug formulation services enable veterinary pharmaceutical companies to maintain consistent product quality and meet regulatory requirements.
The market for veterinary CRO and CDMO is highly competitive and comprises several key players striving to gain a competitive edge. These market players actively engage in strategies like mergers and acquisitions, partnerships, collaborations, and new product launches to expand their market presence. Some of the prominent companies operating in the industry include Covance Inc., Charles River Laboratories International Inc., Envigo, Vets Plus Inc., Vetpharm Inc., Vetio Animal Health, and Zoetis Inc., among others. These companies focus on providing comprehensive veterinary CRO and CDMO services to cater to the evolving needs of the market.