Global Animal Model Market Major Players 2024, Forecast To 2033
11 Jul, 2024
The animal model market size has experienced significant growth in recent years, increasing from $1.76 billion in 2023 to $1.92 billion in 2024 at a CAGR of 8.7%. This growth in the historic period is driven by rising adoption of animal models in biomedical research, increased investment in drug development and discovery, focus on precision medicine, and extensive applications across the healthcare industry. Looking ahead, the market is forecasted to grow strongly, reaching $2.69 billion by 2028 with a CAGR of 8.9%. Factors driving this growth include advancements in genetic engineering, emphasis on personalized medicine, rising prevalence of chronic diseases, demand for effective vaccines and therapeutics, and increased investment in biomedical research. Key trends such as increased demand for animal models in drug discovery, physiological similarities between humans and animals reducing drug development timelines, growing adoption of humanized mice models in personalized medicine, and expansion of telemedicine for consultation and management are expected to shape the market, driving innovation and growth in animal modeling technologies.
Major Driver In The Animal Model Market
The growing pharmaceutical research and development investment activities are expected to propel the growth of the animal model market going forward. Pharmaceutical research and development involves intricate processes aimed at medical advancements, driven by innovative therapies and commercial opportunities in healthcare. Animal models play a crucial role in drug development by predicting efficacy, safety, and toxicity, and simulating human physiological responses and disease progression in controlled settings. According to the European Federation of Pharmaceutical Industries and Associations in June 2023, pharmaceutical research and development spending across Europe increased to €44,500 million ($47,999 million) in 2022 from €39,442 million ($42,543 million) in 2020, reflecting a 7.82% rise. Thus, the escalating investment in pharmaceutical research and development is propelling growth in the animal model market.
Request A Free Sample Of The Global Animal Model Market ReportGlobal Animal Model Market Segmentation
The animal model market covered in this report is segmented –
1) By Animal Type: Mice, Rat, Guinea Pigs, Rabbits, Hamsters, Other Animal Types
2) By Technology: Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR), Embryonic Stem Cell Injection, Nuclear Transfer, Other Technologies
3) By Application: Drug Discovery And Development, Basic Research, Other Applications
4) By End User: Research Institutes, Educational Institutes, Pharmaceutical Companies, Contract Research Organizations
By Geography:The regions covered in the animal model market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the animal model market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Animal Model Global Market Report 2024 furnishes information about the global animal model market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
Animal Model Market Competitive Landscape
Eurofins Scientific SE, Charles River Laboratories International Inc., Pharmaron Beijing Co Ltd, Inotiv Inc., Biocytogen, Taconic Biosciences Incorporation, Cyagen Biosciences, Trans Genic Incorporation, Crown Bioscience Incorporation, Harbor BioMed, PharmaLegacy, PsychoGenics, Biomere Biomedical Research Models Inc., Genoway S.A, Alloy Therapeutics, Janvier Labs, Hera Biolabs, Ozgene Pty Ltd, Transposagen Biopharmaceuticals Inc., KMT Hepatech Inc., AniLocus Inc., BioXpert, Harlan Sprague Dawley Inc.
Purchase The Global Animal Model Market Report Directly And Get A Swift DeliveryAnimal Model Market Overview
An animal model refers to a non-human species used in scientific research to study biological processes, disease mechanisms, and the efficacy of new treatments. Animal models play a crucial role in advancing medical knowledge and bridging the gap between basic research findings and clinical applications.
Animal Model Global Market Report 2023 provides data on the global animal model market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The animal model market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.