The veterinary clinical trials market in Europe is on a notable growth trajectory, driven by increasing demand for advanced veterinary healthcare.
A recent report has highlighted that the market, valued at USD 718.65 million in 2023, is projected to reach USD 1,650.57 million by 2032, with a compound annual growth rate (CAGR) of 9.7%.
Veterinary clinical trials are essential for testing new treatments and ensuring they are safe and effective for animals. The trials typically involve dogs, cats, horses, and livestock, and they follow strict regulatory standards. In Europe, these trials play a crucial role in advancing veterinary medicine by offering new treatments, preventing diseases, and improving overall animal health.
The robust growth is largely attributed to rising pet ownership, advances in veterinary science, and increasing awareness of pet health, all of which have expanded the demand for veterinary clinical trials. Alongside this, Europe’s stringent regulatory framework for veterinary medicines has positively impacted the market, ensuring high standards in product testing.
Key Drivers of Market Growth
Rising Pet Ownership and Health Awareness
One of the main factors contributing to the growth of the veterinary clinical trials market is the rising number of pet owners in Europe. As more people become aware of the importance of pet health, demand for advanced treatments and veterinary healthcare products continues to rise.
Advancements in Veterinary Science
Ongoing developments in veterinary science, including new diagnostic tools and treatments, have accelerated the need for clinical trials. The industry is seeing a growing number of trials to assess novel products aimed at improving animal health.
Regulatory Support
Europe’s regulatory environment has further supported this growth. Bodies such as the European Medicines Agency (EMA) have developed effective guidelines for conducting veterinary clinical trials, making it easier for companies to gain approval for new treatments. This framework helps ensure that animal treatments are rigorously tested for safety and efficacy, which has fuelled market expansion.
Market Breakdown by Region and Major Market Players
Germany is expected to see significant growth in the veterinary clinical trials market, driven by continuous advancements in veterinary medicine and its stringent regulatory standards. With a strong focus on diagnostics and veterinary vaccines, the country is set to contribute substantially to market growth from 2024 to 2032.
The UK accounted for the largest share of the market in 2023, thanks to its well-established veterinary healthcare infrastructure and high pet ownership rates. The presence of leading veterinary research institutions has also driven demand for clinical trials in the UK.
The Europe veterinary clinical trials market is competitive, with a range of key players driving innovation through research and strategic partnerships. Companies such as Argenta, Boehringer Ingelheim International GmbH, Central VetPharma Consultancy, KLIFOVET GmbH, and Merck & Co., Inc. are leading the way in conducting trials and developing new veterinary products.
Argenta’s acquisition of Klifovet in 2021 marked a major development in the market. This acquisition supports Argenta’s aim to become a full-service partner for animal nutrition firms, offering comprehensive research and development capabilities. Other companies are also focusing on forming partnerships to enhance their research capabilities and expand their presence in the veterinary clinical trials market.
Industry Developments and Future Trends
In October 2023, the Coalition for Epidemic Preparedness Innovations (CEPI) extended its collaboration with Wageningen Bioveterinary Research (WBVR) to advance a vaccine candidate for Rift Valley Fever (RVF) through a multi-site Phase I/IIa clinical trial. This collaboration highlights the increasing focus on veterinary vaccines as a key area of growth.
Veterinary clinical trials are expected to become even more important as the pet industry continues to grow and evolve. The trend towards direct-to-consumer sales models and increased demand for transparency in veterinary products is expected to drive further innovation in the sector.
As veterinary healthcare continues to evolve, the clinical trials market in Europe will play a pivotal role in shaping the future of animal health. With more companies investing in research and development, the market is set to see continued growth and innovation over the next decade.
