NEWARK, Del, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The global animal model market value was figured out to be around US$ 1,425 million in 2019. In the following 5 years, the overall market witnessed an average CAGR of 6.4%, estimated to be valued at US$ 1,943.3 million in 2024.
Growing adoption of animal models in drug development and rising demand for efficient animal models are driving market growth. Based on the numbers obtained from animal model demand analysis, the global market is projected to expand at 6% CAGR from 2024 to 2034.
During the forecast period, the net worth of the global animal model industry is expected to reach around US$ 3,476.8 million. While developing new drugs dedicated to complex diseases, researchers are advised to test drugs in model organisms and mouse strains with different genetic backgrounds.
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Key Takeaways from the Animal Model Market Study Report
- The animal model market in North America is expected to account for over 40% of the global market share in 2024, followed by Europe.
- The United States creates the most demand for preclinical animal models in North America and is poised to advance further with a 6.7% CAGR through 2034.
- Germany is expected to continue to be the most lucrative market for animal models in Europe, exhibiting a growth rate of 8.2% through 2034.
- The United Kingdom is another notable market for the use of laboratory animals, which is likely to exhibit a 6.6% CAGR till 2034.
- China is the leading supplier of animal models for preclinical research in Asia and is expected to witness a 6.1% CAGR through 2034.
“Rising demand for biomedical research animals and their increased use in the development of personalized medicine has created new opportunities for existing animal model suppliers. Further, more government support in the form of funding and subsidies for supplying laboratory animals in pharmacological studies has encouraged many start-ups in recent years,” – says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Competitive Landscape for the Animal Model Market Participants
The competition in the animal model industry is highly concentrated, and many contemporary participants are focused on the rat and mouse model segment. However, the approval and adoption of many other animal species, like pigs or non-human primates, is expected to diversify the market by increasing animal model suppliers.
Top Key Players Profiled in the Animal Model Market Report
- Charles River Laboratories International, Inc.
- Horizon Discovery Group plc.
- The Jackson Laboratory
- Taconic Biosciences, Inc.
- Genoway SA
- Eurofins Scientific SE
- Crown Bioscience, Inc.
- Envigo CRS SA
- Transposagen Biopharmaceuticals, Inc.
Recent Developments in the Animal Model Industry Players
In October 2021, Charles River Laboratories, located in Japan, was acquired by Jackson Laboratory to strengthen its position in Japan and grow its line of animal models. This acquisition is expected to enrich the company's animal model solutions with humanized mice and sophisticated immunodeficient animals and help them advance their commercial development.
In May 2023, animal model researchers at University Hospital Carl Gustav Carus evolved a humanized rodent with a faulty gene. As per the reports, the gene results in congenital adrenal hyperplasia. This advancement can be a significant development for understanding the illness and finding new treatments for hyperplasia.
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About the Healthcare Division at Future Market Insights (FMI)
Future Market Insights (FMI) facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you to devise innovation-driven trajectories for your business.
Key Segments Covered by Animal Model Industry Survey Report
By Species Type:
- Rats
- Mice
- Guinea Pigs
- Rabbits
- Monkeys
- Dogs
- Pigs
- Cats
- Other Species
By Application:
- Basic and Applied Research
- Drug Discovery and Development
- Other Applications
By End User:
- Academic & Research Institutions
- Pharmaceutical Companies
- Biotechnology Companies
- Contract Research Organizations (CROs)
- Other End Users
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa (MEA)
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Have a Look at the Related Report from the Animal Model Market:
USA Animal Model Market valuation reached around US$ 947.3 million back in 2022. The demand in the USA animal model is set to increase at a 4.3% CAGR from 2023 to 2033.
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Authored by:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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