Animal Model Market is growing at a CAGR of 6.6% from 2023 to 2032

PORTLAND, HI, UNITED STATES, December 4, 2024 /EINPresswire.com/ -- The growth of the global animal model market is attributed to factors such as the rise in the usage of animal models in virology and infectious diseases, the physiological similarity of humans and animals for drug testing, and the increase in adoption of CRISPR technology. On the other hand, the availability of alternative testing methods to restrain market growth during the forecast period. Moreover, high growth potential in emerging markets is anticipated to present significant opportunities for market growth during the forecast period. 

The animal model market size was valued at $1.9 billion in 2022, and is estimated to reach $3.6 billion by 2032, growing at a CAGR of 6.6% from 2023 to 2032.

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Drivers:

The rise in usage of animal models in virology and infectious diseases 
The physiological similarity of humans and animals for drug testing 
The increase in adoption of CRISPR technology 

Opportunities:

Availability of alternative testing methods 

Restraints:

Growth opportunities in emerging markets 

The 2023 Recession: 

The 2023 recession has negatively impacted the animal model market. 

The economic slowdown resulted in a financial burden on pharma and biotechnology companies, which has impacted investment in research and development for new drugs and medical devices. 

However, the global animal model market is expected to recover from the negative impact of the recession as demand for new treatment options for chronic diseases rises. 

Animal models such as mice, rats, monkeys, and pigs are widely used in scientific research to understand various biological processes, study diseases, and develop new therapies and treatments. Researchers have recognized that many physiological and genetic characteristics are shared between humans and animals. For example, mammals share similar organ systems, immune responses, and fundamental cellular processes. This similarity allows researchers to study the mechanisms of diseases and test potential treatments in animals before moving on to human clinical trials. Thus, a rise in awareness among researchers about physiological similarities between humans & animals and an increase in the usage of animal models in the preclinical development of drug act as the key driving forces during the global animal model market forecast.

The mice segment to maintain its leadership status throughout the forecast period

Based on animal type, the mice segment held the highest market share in 2022, accounting for more than three-fifths of the global animal model market revenue, and is expected to maintain its leadership status throughout the forecast period. Owing to the fact that mice are highly suitable for genetic mutation to conduct drug trials. However, the rat segment is expected to register the fastest CAGR of 7.1% during the forecast period. This is attributed to the high similarity between humans and rats, which facilitates a variety of drug trials. 

The drug discovery and development segment to maintain its leadership status throughout the forecast period

Based on application, the drug discovery and development segment held the highest market share in 2022, accounting for nearly three-fourths of the global animal model market revenue, and is estimated to maintain its leadership status throughout the forecast period. The same segment is projected to manifest the fastest CAGR of 7.2% from 2023 to 2032. This is due to a rise in the adoption of animal models for drug discovery and development owing to its physiological similarities with humans.   

The pharma and biotech companies segment to maintain its lead position during the forecast period- 

Based on end user, the pharma and biotech companies segment accounted for the largest share in 2022, contributing to nearly three-fifths of the global animal model market revenue, and is projected to maintain its lead position during the forecast period. The same segment would also display the fastest CAGR of 7.3% from 2023 to 2032. Owing to the high use of animal models by pharma and biotech companies in various research and development activities. 

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North America to maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global animal model market revenue, and is likely to dominate the market during the forecast period. Due to the surge in research and development activities by pharma and biotech companies and the strong presence of key players to provide animal models to meet the demand. However, the Asia-Pacific region is expected to witness the fastest CAGR of 8.0% from 2023 to 2032. This is attributed to the well-developed vaccine industry in this region and the high level of research and development for the development of new vaccines. 

Leading Market Players: - 

Hera Biolabs 
Crown Bioscience Inc. 
Janvier Labs, LLC 
Inotiv, Inc.  
Charles River Laboratories 
The Jackson Laboratory. 
Genoway S.A. 
Trans Genic Inc. 
Ozgene Pty Ltd. 
Taconic Biosciences 

David Correa
Allied Market Research
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