Share this article
Share this article
to reach USD 10.4 billion by 2028, according to a new report by Grand View Research, Inc.,
expanding at a CAGR of 6.9% from 2021 to 2028. The increasing prevalence of chronic diseases in animals and growing concerns among pet owners are the key contributors to the market growth.
Key suggestions from the report:
The contract outsourcing service type accounted for the largest revenue share of over 58% in 2020 owing to associated benefits with its usage
The growing number of outsourcing activities by pharmaceutical companies is expected to boost the segment growth
Chemical-based API synthesis type dominated the market in 2020. This can be attributed to its high usage by many major manufacturing companies