Key Insights
The global veterinary contract research organization (CRO) market, valued at $0.92 billion in 2025, is poised for significant growth, exhibiting a Compound Annual Growth Rate (CAGR) of 8.27% from 2025 to 2033. This expansion is driven by several key factors. Firstly, the increasing prevalence of chronic diseases in companion animals is fueling demand for advanced therapeutic development and clinical trials, thereby increasing reliance on specialized CRO services. Secondly, stringent regulatory requirements for veterinary pharmaceuticals necessitate rigorous quality assurance and testing procedures, which CROs are well-equipped to provide. Thirdly, the growing adoption of innovative research methodologies, such as genomics and advanced imaging techniques, in veterinary science is pushing the need for CROs with specialized expertise. Finally, the rising investments in animal health research and development by both pharmaceutical companies and government agencies are further contributing to market growth. The market is segmented by service type, with clinical trials support, quality assurance, and other specialized services playing pivotal roles. North America currently dominates the market due to strong regulatory frameworks and advanced infrastructure. However, regions like Asia-Pacific are showing promising growth potential driven by expanding pet ownership and increasing awareness of animal health.
Veterinary CRO Industry Market Size (In Million)
The competitive landscape is characterized by a mix of large multinational CROs and specialized veterinary CROs. Companies like Charles River Laboratories and other established players leverage their extensive experience and infrastructure to cater to the growing demand. Simultaneously, specialized veterinary CROs, such as Vetspin SRL and Oncovet Clinical Research, are capitalizing on their niche expertise to gain market share. Challenges such as high research costs, varying regulatory landscapes across different geographies, and a potential shortage of skilled professionals could potentially hinder market growth in the coming years. However, ongoing technological advancements and increasing investment in the sector are expected to outweigh these challenges, contributing to sustained growth in the global veterinary CRO market throughout the forecast period.
Veterinary CRO Industry Company Market Share
This comprehensive report provides an in-depth analysis of the Veterinary CRO (Contract Research Organization) industry, covering market size, growth drivers, challenges, and future opportunities. The report covers the period 2019-2033, with a focus on the base year 2025 and forecast period 2025-2033. The study utilizes a robust methodology incorporating extensive primary and secondary research to deliver actionable insights for industry stakeholders. The market size is projected to reach xx Million by 2033.
Veterinary CRO Industry Market Concentration & Innovation
The Veterinary CRO market exhibits a moderately concentrated landscape, with several key players commanding significant market share. The top 5 companies, including Charles River Laboratories Inc, Vetspin SRL, knoell, Clinvet, and Oncovet Clinical Research, collectively hold an estimated xx% market share in 2025. This concentration is driven by significant capital investments in research & development, advanced technologies, and global reach. However, the market also features several smaller niche players focusing on specialized services or geographical regions.
Innovation Drivers:
- Advancements in veterinary medicine and diagnostics are driving demand for CRO services.
- Increased focus on personalized medicine and companion animal health is fostering innovation.
- Technological advancements in data analytics and artificial intelligence are enhancing efficiency and effectiveness.
Regulatory Framework: Stringent regulatory requirements concerning animal welfare and data integrity influence industry practices. These regulations, while posing challenges, also provide a framework for consistent quality and ethical research.
Product Substitutes: The absence of readily available substitutes for specialized CRO services reinforces market growth. While internal R&D remains an option for large pharmaceutical companies, external CRO services offer cost-effectiveness and specialized expertise.
End-User Trends: Increasing investment in animal health research by pharmaceutical and biotechnology companies drives growth. Growing awareness of animal welfare and demand for advanced treatments are bolstering market demand.
M&A Activities: The industry has witnessed a moderate level of M&A activity in recent years. While specific deal values are not publicly available for all transactions, the total M&A deal value for the period 2019-2024 is estimated to be around xx Million. These activities are driven by companies seeking to expand their service offerings, geographic reach, and technological capabilities.
Veterinary CRO Industry Industry Trends & Insights
The Veterinary CRO market is experiencing robust growth, driven by several key factors. The increasing prevalence of chronic diseases in companion animals, the rising demand for advanced diagnostics and therapeutics, and the growing investment in animal health research by pharmaceutical and biotechnology companies are significantly contributing to market expansion. The compound annual growth rate (CAGR) is projected to be xx% during the forecast period (2025-2033). Market penetration is increasing steadily across various regions, with North America and Europe currently holding the largest market shares.
Technological disruptions, such as the adoption of advanced technologies like AI and big data analytics, are transforming the industry. These technologies are enhancing data analysis, predictive modeling, and the overall efficiency of clinical trials. This shift is leading to a greater focus on data-driven decision-making and improved outcomes. Consumer preferences are shifting towards more personalized and targeted veterinary healthcare services, driving the need for customized research solutions provided by CROs.
The competitive landscape is dynamic, with both large multinational CROs and smaller specialized companies competing for market share. The competition is based on factors like service quality, technological capabilities, and cost-effectiveness.
Dominant Markets & Segments in Veterinary CRO Industry
Dominant Region/Country: North America holds a dominant position in the global Veterinary CRO market, driven by high levels of animal healthcare expenditure, strong regulatory frameworks, and the presence of major pharmaceutical and biotechnology companies.
Dominant Segments:
- Clinical Trials Support: This segment represents the largest market share, driven by the growing number of clinical trials for new veterinary drugs and therapies.
- Quality Assurance: The importance of regulatory compliance fuels robust growth in this segment.
- Others: This segment includes various specialized services, such as preclinical research, regulatory consulting, and bioanalytical testing.
Key Drivers of Dominance (North America):
- High per capita expenditure on pet healthcare.
- Advanced infrastructure and research facilities.
- Favorable regulatory environment.
- Presence of major pharmaceutical and biotechnology companies.
Veterinary CRO Industry Product Developments
Recent product innovations in the Veterinary CRO industry have focused on enhancing efficiency, data analysis, and the overall quality of research services. The development of specialized software for data management and analysis, improved laboratory testing capabilities, and advancements in animal model development represent key trends. These advancements are aimed at improving the speed and reliability of clinical trials and streamlining the overall research process. New offerings are tailored to address specific needs within the market, fostering stronger market fit and competitive advantage.
Report Scope & Segmentation Analysis
Service Type:
Clinical Trials Support: This segment encompasses the design, conduct, and management of clinical trials for veterinary products. It is projected to exhibit a CAGR of xx% from 2025 to 2033, reaching a market size of xx Million by 2033. Competition is high in this space, with companies focusing on specialization and global reach.
Quality Assurance: This segment provides services related to regulatory compliance and quality control throughout the research process. It shows a steady growth rate, with a projected market size of xx Million by 2033, driven by stringent regulatory requirements.
Others: This includes specialized services like preclinical studies, bioanalytical testing, and regulatory consulting. This segment is also expected to experience growth driven by the increasing need for advanced research techniques.
Key Drivers of Veterinary CRO Industry Growth
Several factors drive the growth of the Veterinary CRO industry: The increasing prevalence of chronic diseases in companion animals creates a greater need for new treatments, fueling demand for CRO services. Technological advancements, such as AI and big data analytics, improve the efficiency and accuracy of research. Finally, increasing investments in animal health R&D by pharmaceutical and biotechnology companies provide substantial growth opportunities.
Challenges in the Veterinary CRO Industry Sector
Challenges faced include stringent regulatory requirements, which increase the cost and complexity of research. Supply chain disruptions, particularly regarding specialized reagents and equipment, can impact project timelines and budgets. Intense competition and pricing pressures also pose challenges to profitability.
Emerging Opportunities in Veterinary CRO Industry
Emerging opportunities are present in the development of novel animal models, personalized medicine approaches, and the application of advanced technologies such as CRISPR-Cas9 gene editing in veterinary research. Expanding into emerging markets and focusing on niche therapeutic areas also provide growth potential.
Leading Players in the Veterinary CRO Industry Market
- Vetspin SRL
- knoell
- Clinvet
- Oncovet Clinical Research
- Klifovet AG
- Vetpharm Inc
- Charles River Laboratories Inc
- Veterinary Research Management
- Lohlein and wolf vet research
- Ondax Scientific
Key Developments in Veterinary CRO Industry Industry
- April 2022: PetDx's funding of the CANDiD study signifies the growing interest in advanced diagnostics for companion animals and creates opportunities for CROs specializing in oncology research.
- January 2022: Covetrus' launch of Covetrus Pulse highlights the increasing integration of technology in veterinary practices, creating new avenues for CROs to provide data management and analysis services.
Strategic Outlook for Veterinary CRO Industry Market
The Veterinary CRO industry is poised for continued growth, driven by technological advancements, increasing investments in animal health research, and the growing prevalence of chronic diseases in companion animals. Companies focusing on innovation, specialization, and strategic partnerships will be best positioned to capitalize on the expanding market opportunities.
Veterinary CRO Industry Segmentation
-
1. Service Type
- 1.1. Clinical Trials Support
- 1.2. Quality Assurance
- 1.3. Others
Veterinary CRO Industry Segmentation By Geography
-
1. North America
- 1.1. United States
- 1.2. Canada
- 1.3. Mexico
-
2. Europe
- 2.1. Germany
- 2.2. United Kingdom
- 2.3. France
- 2.4. Italy
- 2.5. Spain
- 2.6. Rest of Europe
-
3. Asia Pacific
- 3.1. China
- 3.2. Japan
- 3.3. India
- 3.4. Australia
- 3.5. South Korea
- 3.6. Rest of Asia Pacific
-
4. Middle East and Africa
- 4.1. GCC
- 4.2. South Africa
- 4.3. Rest of Middle East and Africa
-
5. South America
- 5.1. Brazil
- 5.2. Argentina
- 5.3. Rest of South America
Veterinary CRO Industry Regional Market Share
Geographic Coverage of Veterinary CRO Industry
Veterinary CRO Industry REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 8.27% from 2020-2034 |
| Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. Growing Burden of Diseases in Animals; Increasing Expenditure on Research and Development Activities
- 3.3. Market Restrains
- 3.3.1. Lack of Skilled Professionals
- 3.4. Market Trends
- 3.4.1. Clinical Trial Support Segment is Expected to Hold a Major Market Share in the Veterinary CRO Market
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. Global Veterinary CRO Industry Analysis, Insights and Forecast, 2020-2032
- 5.1. Market Analysis, Insights and Forecast - by Service Type
- 5.1.1. Clinical Trials Support
- 5.1.2. Quality Assurance
- 5.1.3. Others
- 5.2. Market Analysis, Insights and Forecast - by Region
- 5.2.1. North America
- 5.2.2. Europe
- 5.2.3. Asia Pacific
- 5.2.4. Middle East and Africa
- 5.2.5. South America
- 5.1. Market Analysis, Insights and Forecast - by Service Type
- 6. North America Veterinary CRO Industry Analysis, Insights and Forecast, 2020-2032
- 6.1. Market Analysis, Insights and Forecast - by Service Type
- 6.1.1. Clinical Trials Support
- 6.1.2. Quality Assurance
- 6.1.3. Others
- 6.1. Market Analysis, Insights and Forecast - by Service Type
- 7. Europe Veterinary CRO Industry Analysis, Insights and Forecast, 2020-2032
- 7.1. Market Analysis, Insights and Forecast - by Service Type
- 7.1.1. Clinical Trials Support
- 7.1.2. Quality Assurance
- 7.1.3. Others
- 7.1. Market Analysis, Insights and Forecast - by Service Type
- 8. Asia Pacific Veterinary CRO Industry Analysis, Insights and Forecast, 2020-2032
- 8.1. Market Analysis, Insights and Forecast - by Service Type
- 8.1.1. Clinical Trials Support
- 8.1.2. Quality Assurance
- 8.1.3. Others
- 8.1. Market Analysis, Insights and Forecast - by Service Type
- 9. Middle East and Africa Veterinary CRO Industry Analysis, Insights and Forecast, 2020-2032
- 9.1. Market Analysis, Insights and Forecast - by Service Type
- 9.1.1. Clinical Trials Support
- 9.1.2. Quality Assurance
- 9.1.3. Others
- 9.1. Market Analysis, Insights and Forecast - by Service Type
- 10. South America Veterinary CRO Industry Analysis, Insights and Forecast, 2020-2032
- 10.1. Market Analysis, Insights and Forecast - by Service Type
- 10.1.1. Clinical Trials Support
- 10.1.2. Quality Assurance
- 10.1.3. Others
- 10.1. Market Analysis, Insights and Forecast - by Service Type
- 11. Competitive Analysis
- 11.1. Global Market Share Analysis 2025
- 11.2. Company Profiles
- 11.2.1 Vetspin SRL
- 11.2.1.1. Overview
- 11.2.1.2. Products
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Financials (Based on Availability)
- 11.2.2 knoell
- 11.2.2.1. Overview
- 11.2.2.2. Products
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Financials (Based on Availability)
- 11.2.3 Clinvet
- 11.2.3.1. Overview
- 11.2.3.2. Products
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Financials (Based on Availability)
- 11.2.4 Oncovet Clinical Research
- 11.2.4.1. Overview
- 11.2.4.2. Products
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Financials (Based on Availability)
- 11.2.5 Klifovet AG
- 11.2.5.1. Overview
- 11.2.5.2. Products
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Financials (Based on Availability)
- 11.2.6 Vetpharm Inc
- 11.2.6.1. Overview
- 11.2.6.2. Products
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Financials (Based on Availability)
- 11.2.7 Charles River Laboratories Inc
- 11.2.7.1. Overview
- 11.2.7.2. Products
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Financials (Based on Availability)
- 11.2.8 Veterinary Research Management
- 11.2.8.1. Overview
- 11.2.8.2. Products
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Financials (Based on Availability)
- 11.2.9 Lohlein and wolf vet research
- 11.2.9.1. Overview
- 11.2.9.2. Products
- 11.2.9.3. SWOT Analysis
- 11.2.9.4. Recent Developments
- 11.2.9.5. Financials (Based on Availability)
- 11.2.10 Ondax Scientific
- 11.2.10.1. Overview
- 11.2.10.2. Products
- 11.2.10.3. SWOT Analysis
- 11.2.10.4. Recent Developments
- 11.2.10.5. Financials (Based on Availability)
- 11.2.1 Vetspin SRL
List of Figures
- Figure 1: Global Veterinary CRO Industry Revenue Breakdown (Million, %) by Region 2025 & 2033
- Figure 2: North America Veterinary CRO Industry Revenue (Million), by Service Type 2025 & 2033
- Figure 3: North America Veterinary CRO Industry Revenue Share (%), by Service Type 2025 & 2033
- Figure 4: North America Veterinary CRO Industry Revenue (Million), by Country 2025 & 2033
- Figure 5: North America Veterinary CRO Industry Revenue Share (%), by Country 2025 & 2033
- Figure 6: Europe Veterinary CRO Industry Revenue (Million), by Service Type 2025 & 2033
- Figure 7: Europe Veterinary CRO Industry Revenue Share (%), by Service Type 2025 & 2033
- Figure 8: Europe Veterinary CRO Industry Revenue (Million), by Country 2025 & 2033
- Figure 9: Europe Veterinary CRO Industry Revenue Share (%), by Country 2025 & 2033
- Figure 10: Asia Pacific Veterinary CRO Industry Revenue (Million), by Service Type 2025 & 2033
- Figure 11: Asia Pacific Veterinary CRO Industry Revenue Share (%), by Service Type 2025 & 2033
- Figure 12: Asia Pacific Veterinary CRO Industry Revenue (Million), by Country 2025 & 2033
- Figure 13: Asia Pacific Veterinary CRO Industry Revenue Share (%), by Country 2025 & 2033
- Figure 14: Middle East and Africa Veterinary CRO Industry Revenue (Million), by Service Type 2025 & 2033
- Figure 15: Middle East and Africa Veterinary CRO Industry Revenue Share (%), by Service Type 2025 & 2033
- Figure 16: Middle East and Africa Veterinary CRO Industry Revenue (Million), by Country 2025 & 2033
- Figure 17: Middle East and Africa Veterinary CRO Industry Revenue Share (%), by Country 2025 & 2033
- Figure 18: South America Veterinary CRO Industry Revenue (Million), by Service Type 2025 & 2033
- Figure 19: South America Veterinary CRO Industry Revenue Share (%), by Service Type 2025 & 2033
- Figure 20: South America Veterinary CRO Industry Revenue (Million), by Country 2025 & 2033
- Figure 21: South America Veterinary CRO Industry Revenue Share (%), by Country 2025 & 2033
List of Tables
- Table 1: Global Veterinary CRO Industry Revenue Million Forecast, by Service Type 2020 & 2033
- Table 2: Global Veterinary CRO Industry Revenue Million Forecast, by Region 2020 & 2033
- Table 3: Global Veterinary CRO Industry Revenue Million Forecast, by Service Type 2020 & 2033
- Table 4: Global Veterinary CRO Industry Revenue Million Forecast, by Country 2020 & 2033
- Table 5: United States Veterinary CRO Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 6: Canada Veterinary CRO Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 7: Mexico Veterinary CRO Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 8: Global Veterinary CRO Industry Revenue Million Forecast, by Service Type 2020 & 2033
- Table 9: Global Veterinary CRO Industry Revenue Million Forecast, by Country 2020 & 2033
- Table 10: Germany Veterinary CRO Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 11: United Kingdom Veterinary CRO Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 12: France Veterinary CRO Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 13: Italy Veterinary CRO Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 14: Spain Veterinary CRO Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 15: Rest of Europe Veterinary CRO Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 16: Global Veterinary CRO Industry Revenue Million Forecast, by Service Type 2020 & 2033
- Table 17: Global Veterinary CRO Industry Revenue Million Forecast, by Country 2020 & 2033
- Table 18: China Veterinary CRO Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 19: Japan Veterinary CRO Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 20: India Veterinary CRO Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 21: Australia Veterinary CRO Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 22: South Korea Veterinary CRO Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 23: Rest of Asia Pacific Veterinary CRO Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 24: Global Veterinary CRO Industry Revenue Million Forecast, by Service Type 2020 & 2033
- Table 25: Global Veterinary CRO Industry Revenue Million Forecast, by Country 2020 & 2033
- Table 26: GCC Veterinary CRO Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 27: South Africa Veterinary CRO Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 28: Rest of Middle East and Africa Veterinary CRO Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 29: Global Veterinary CRO Industry Revenue Million Forecast, by Service Type 2020 & 2033
- Table 30: Global Veterinary CRO Industry Revenue Million Forecast, by Country 2020 & 2033
- Table 31: Brazil Veterinary CRO Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 32: Argentina Veterinary CRO Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 33: Rest of South America Veterinary CRO Industry Revenue (Million) Forecast, by Application 2020 & 2033
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the Veterinary CRO Industry?
The projected CAGR is approximately 8.27%.
2. Which companies are prominent players in the Veterinary CRO Industry?
Key companies in the market include Vetspin SRL, knoell, Clinvet, Oncovet Clinical Research, Klifovet AG, Vetpharm Inc, Charles River Laboratories Inc, Veterinary Research Management, Lohlein and wolf vet research, Ondax Scientific.
3. What are the main segments of the Veterinary CRO Industry?
The market segments include Service Type.
4. Can you provide details about the market size?
The market size is estimated to be USD 0.92 Million as of 2022.
5. What are some drivers contributing to market growth?
Growing Burden of Diseases in Animals; Increasing Expenditure on Research and Development Activities.
6. What are the notable trends driving market growth?
Clinical Trial Support Segment is Expected to Hold a Major Market Share in the Veterinary CRO Market.
7. Are there any restraints impacting market growth?
Lack of Skilled Professionals.
8. Can you provide examples of recent developments in the market?
In April 2022, PetDx funded a clinical trial under the title , 'Clinical validation of a next-generation sequencing-based multi-cancer early detection 'liquid biopsy' blood test in over 1,000 dogs using an independent testing set: The CANcer Detection in Dogs (CANDiD) study'. The goal of this clinical trial was to test the performance of a new multi-cancer blood test in detecting and characterizing cancer in dogs.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4750, USD 5250, and USD 8750 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in Million.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "Veterinary CRO Industry," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the Veterinary CRO Industry report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the Veterinary CRO Industry?
To stay informed about further developments, trends, and reports in the Veterinary CRO Industry, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database
Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations
Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence