Animal Model Market is projected to Reach around USD 3.6 Billion by 2032, growing at a CAGR of 6.7% from 2023 to 2032

LOS ANGELES, Oct. 04, 2023 (GLOBE NEWSWIRE) -- The Animal Model Market is a pivotal sector within the biomedical research industry, focusing on the development and utilization of animal models to study various aspects of human biology, physiology, and disease.

The Animal Model Market is experiencing substantial growth due to the increasing prevalence of chronic diseases, advancements in biotechnological tools for genetic manipulation, and the growing demand for personalized medicine. The market’s future looks promising with continuous advancements in biomedical research and the development of more human-relevant and predictive animal models.

Animal Model Market Highlights and Key Statistics:

• The Global Animal Model Market size is anticipated to reach around USD 3.6 billion by 2032, expanding at a compound annual growth rate (CAGR) of 6.7% from 2022 to 2032.
• North America held the largest share of the animal model market in 2022, with more than 44%.
• The Asia-Pacific animal model market is projected to expand at a compound annual growth rate (CAGR) of 7.5% from 2023 to 2032.
• Mice are the most common type of laboratory animal, accounting for over 49% of the market share in 2022.
• The drug discovery and development segment accounted for more than 38% of the revenue share in 2022, making it the largest segment by application.
• Key Players in the market include Envigo, JANVIER LABS, Charles River Laboratories International, Inc., Ingenious Targeting Laboratory, Ozgene Pty Ltd., Trans Genic Inc., Horizon Discovery Group plc, Taconic Biosciences, Inc., Pharmaron, The Jackson Laboratory, Crown Bioscience, Inc., and genOway S.A.

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Animal Model Market Report Coverage:

Animal Model Market Overview and Analysis:

The Animal Model Market is characterized by its focus on developing animal models that can efficiently and safely mimic various aspects of human biology, physiology, and disease. The market is witnessing continuous innovations aimed at enhancing the efficacy, relevance, and ethical considerations of animal models. However, challenges such as high costs associated with animal model maintenance and experiments, and ethical concerns and animal welfare considerations can pose constraints to market growth.

Latest Animal Model Market Trends and Innovations:

• The growth of the market is primarily driven by the increasing prevalence of chronic diseases and the need for effective treatments.
• Increase in the number of research and development in new animal models by key players is estimated to boost the market growth.
• According to the World Health Organization (WHO) and The International Agency for Research on Cancer (ICRA), around 19.3 million new cases will be diagnosed per year, by 2025.
• Major Growth Drivers of the Animal Model Market:
• The rising prevalence of chronic diseases and advancements in biotechnological tools are significant growth drivers.
• Increasing benefits from stringent government regulations and the rising demand for personalized medicine are propelling the market growth.
• The advent of innovative and effective animal models in the biomedical research industry is creating new opportunities for market expansion.
  

Key Challenges Facing the Animal Model Market:

High costs and ethical concerns associated with animal model maintenance and experiments are significant barriers to market growth.

Managing the safety, relevance, and implementation of animal models and developing more human-relevant and predictive models for diverse research needs are crucial challenges.

The increasing complexity of biomedical research and the growing need for sophisticated and diverse animal models are also posing constraints to market growth.

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Animal Model Market Segmentation Insights:

Based on the Animal Type:

• Rat
• Guinea Pigs
• Rabbits
• Mice
• Others
  

Based on the Technology:

• CRISPR
• Nuclear Transfer
• Embryonic Stem Cell Injection
• Others

Based on the Application:

• Basic Research
• Drug Discovery and Development
• Others
  

Based on the End User:

• Academic Research Institutes
• Pharma and Biotech Companies
• Others
  

Regional Overview of the Animal Model Market:

The animal model market is predominantly led by North America, with the United States acting as the base for many pharmaceutical behemoths, innovative biotech companies, and top-tier research organizations. These bodies necessitate the use of animal models for diverse research purposes and the creation of new medications, possessing the economic capability to make substantial investments in this domain. The existence of a dynamic industry infrastructure intensifies the need for animal models, establishing North America as a primary market. Additionally, the region profits from a comprehensive legal structure that advocates for the humane treatment of animal models in scientific research. Organizations such as the U.S. Food and Drug Administration (FDA) impose rigorous conditions for the preliminary assessment and appraisal of prospective treatments. This regulatory backdrop guarantees not only the prevalent use of animal models but also adherence to elevated quality norms, promoting their application further. Furthermore, North America boasts a prolific background in biomedical exploration and breakthroughs, encompassing developments in the fields of genetics, genomics, and biotechnology.

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Key Players in the Animal Model Market

Envigo, JANVIER LABS, Charles River Laboratories International, Inc., Ingenious Targeting Laboratory, Ozgene Pty Ltd., Trans Genic Inc., Horizon Discovery Group plc, Taconic Biosciences, Inc., Pharmaron, The Jackson Laboratory, Crown Bioscience, Inc., and genOway S.A.

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