Portland, OR, Aug. 07, 2023 (GLOBE NEWSWIRE) -- An animal model is an animal used for conducting pathological and biological experiments, and it serves as a testing ground for drug discovery and development purposes. These models are valuable because animals often mimic the physiological and organic structures found in humans. Additionally, some animal species share a genetic structure that is quite similar to that of humans. As a result, scientists and researchers utilize animal models to investigate diseases, search for potential cures, and test medicinal drugs before administering them to humans. Animal models play a significant role in drug discovery, development, and basic research since they enable the evaluation of novel medications for safety and efficacy prior to human trials.
Allied Market Research published a report titled, "Animal Model Market by Animal Type (Rat, Mice, Guinea Pigs, Rabbits, and Others), Applications (Drug Discovery & Development, Basic Research, And Others), and End User (Pharma & Biotech Companies, Academic Research Institutes, And Others): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global animal model market was valued at $1.9 billion in 2022 and is estimated to reach $3.6 billion by 2032, exhibiting a CAGR of 6.6% from 2023 to 2032.
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Prime Determinants of Growth:
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.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $1.9 Billion |
| Market Size in 2032 | $3.6 Billion |
| CAGR | 6.6% |
| No. of Pages in Report | 295 |
| Segments covered | Animal Type, Application, End User, and Region |
| 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.
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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
The report provides a detailed analysis of these key players in the global animal model market. These players have adopted different strategies, such as new product launches, agreements, partnerships, and strategic alliances, to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario.
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