Animal Model Market is projected to reach US$ 2.4 Billion by 2028 - Comprehensive Research Report by FMI
Animal Model Market - Analysis, Outlook, Growth, Trends, Forecasts
DUBAI, United Arab Emirates, Jan. 17, 2022 (GLOBE NEWSWIRE) -- The global Animal Model Market is estimated to be valued at US$ 1.7 Bn in 2022, and is projected to reach US$ 2.4 Bn by 2028, registering a healthy CAGR of 6.6% from 2022 to 2028.
According to a recently compiled study by Future Market Insights, the global Animal Model Market will reflect an impressive CAGR through the forecast period, 2017 to 2026. Revenues from the global market for animal model are poised to surpass US$ 2,200 Mn by 2026-end.
Leveraging Animal Models offers Better Understanding of Different Diseases
Animals and human beings share a common biological as well as physiological structure. Animals possess shorter life cycle, however they have high genotype resemblance. It is simple and easy to control the animal environment as compared to the human beings.
Animal Model Market Size (2022) | US$ 1.7 Bn | |
Sales Forecast (2028) | US$ 2.4 Bn | |
Global Market Growth Rate (2022 to 2028) | 6.6% CAGR | |
Share of Top 5 Animal Model Suppliers | 50% | |
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The animal models are increasingly being used in the biomedical research that helps to develop new treatment methods for various diseases. Leveraging animal models offers a better understanding of different diseases, along with the efficacy of drugs with regard to the diseases.
Owing to these factors, demand for animal models has been witnessing a significant surge in the healthcare sector. Alternatives such as cell cultures, tissue cultures, and computer models are also available, however animal models are more preferred owing to the complexity of the living systems. This further makes animal models an effective choice for biomedical research.
Development of animal models, which are more predictive in being effective is an iterative process. However, progress is being made, with researchers applying new experimental approaches to elucidate the biology of specific diseases for the creating of new and efficient animal models.
During the development of new drugs dedicated to complex diseases, researchers are being well advised for testing drugs in multiple animal models as well as in mouse strains with different genetic backgrounds.
Researchers are also focusing on employing translational efficacy or pharmacodynamic biomarkers for linking efficacy observed in clinical results with pre-clinical analyses.
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Scope of the Report
Attribute | Details |
Forecast Period | 2022-2028 |
Historical Data Available for | 2013-2021 |
Market Analysis | Value in US$ Mn |
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Key Takeaways from FMI’s Report on Global Animal Model Market
North America is expected to remain the largest and fastest expanding market for animal model, with revenues estimated to surpass US$ 800 Mn by 2026-end. Between animal model markets in Asia-Pacific and Europe, the former will account for relatively larger revenue share, whereas the latter will expand at a comparatively higher CAGR through 2026. Although the market in South Korea will account for the lowest market revenue share, revenues are projected to expand at a relatively higher CAGR than those from the markets in Latin America and Middle East & Africa (MEA) through 2026.
On the basis of species, revenues from rats and mice are projected to account for over two-fifth share of the market by 2026-end. Revenues from use of rats in animal models will expand at the highest CAGR in the market through 2026. In addition, revenues from use of cats and monkeys in animal models will rise at a nearly equal CAGR through 2026. Dogs and pigs are expected to remain the least lucrative species used in animal models during the forecast period.
Contract research organizations (CROs) and biotechnology companies are anticipated to remain the fast expanding end-users of animal models. Revenues from these two end-users are collectively forecast to surpass US$ 850 Mn by 2026-end. In terms of revenues, academic & research institutions and pharmaceutical companies will continue to be dominant end-users in the global animal model market.
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Basic and applied research application of animal model will continue to register the fastest expansion through 2026. However, drug discovery/development will remain the most lucrative application of animal model.
Key companies actively contributing to growth of the global animal model market include Transposagen Biopharmaceuticals, Inc., Envigo CRS SA, Crown Bioscience, Inc., Eurofins Scientific SE, Genoway SA, Taconic Biosciences, Inc., Trans Genic Inc, The Jackson Laboratory, Horizon Discovery Group plc, and Charles River Laboratories International, Inc.
Explore FMI’s Extensive ongoing Coverage on Healthcare Domain
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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