Animal Model Market Size, Share, Growth Analysis - Industry Forecast 2023-2030
Author : Prathamesh Pathar | Published On : 24 Apr 2024
The market for animal models is expected to increase linearly, reaching a value of USD 2,846 million in 2023 and USD 4,923 million by 2033, with a compound annual growth rate (CAGR) of 7.4% from 2023 to 2033. An animal model is a live, non-human, genetically related, or modified animal used to simulate a person for scientific research purposes or the study of human illnesses. Additionally, research on the effects of illnesses and innovative medication reactions on the body is conducted on animals without causing harm to humans.
An essential platform for understanding and researching the pharmacokinetic and pharmacodynamic effects, complicated and unfavorable actions, and medication effectiveness is provided by animal models. Additionally, it is crucial for the study of several infectious illnesses, including the Zika virus, HIV, hepatitis, and influenza. For example, the virulence, transmission, and immunological properties of seasonal and pandemic influenza viruses are studied in a variety of small animal models, including mice, Syrian hamsters, guinea pigs, and ferrets, according to a 2022 article from the National Library of Medicine.
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Animal Model Market Segmentation
By Application
- Research & Development
- Production
- Quality Control
By Regional Scope
- North America
- Europe
- APAC
- South America
- Middle East
- Africa
Key Players
- The Jackson Laboratory.
- Hera Biolabs
- Ozgene Pty Ltd.
- Trans Genic Inc.
- Genoway S.A.
- Taconic Biosciences
- Janvier Labs, LLC
- Inotiv, Inc.
- Charles River Laboratories
- Crown Bioscience Inc
Market Trends
It is projected that a growing number of pharmaceutical R&D projects will propel market expansion. Novel medication development is one of the main factors driving the value of research-based pharmaceutical and biotechnology firms since it helps address unmet medical needs. The pharmaceutical industry produces several cutting-edge medications with significant therapeutic advantages. One of the main factors influencing the number of pharmaceutical research and development activities is the surge in funding from both public and private entities. For example, the Congressional Budget Office reports that the pharmaceutical industry invested USD 83 billion in research and development in 2019. These costs involve a wide range of operations, including the development and testing of new drugs as well as testing for safety requirements or regulatory compliance.
Regional Analysis
North America has a market share of more than 43% and leads the animal model industry in terms of revenue generation. It is anticipated that research activities in the region will be aided by the rising incidence of chronic diseases, the introduction of novel infectious strains, and the rising financial investments in healthcare across North America. In addition, it is expected that regional growth would be fueled by the increase in research activities carried out by academic and research institutes.
Europe’s animal model market is predicted to increase at a substantial rate due to the region’s high concentration of toxicological, nutritional, immunological, and medical labs. The market share of animal models is now the second highest in the continent. To be more precise, the United Kingdom’s market is expanding at the quickest rate in Europe, while Germany’s market is the biggest in the continent.
According to projections, the animal model market in Asia-Pacific is expected to develop at the quickest rate. The Asia-Pacific region’s numerous sectors have adopted qualities including high repeatability, short lifetime, and ease of manipulation, which have led to an increase in market revenue. Among the Asia-Pacific countries, India’s animal model market is growing at the fastest rate, although China’s holds the highest market share in this regard.
Application Analysis
The Animal Model Market is divided into three categories based on application: production, quality control, and research & development. In terms of share, the Research & Development category holds the greatest proportion, around 41% in 2022. A consistent rise in revenue is anticipated over the projected period, fueled by the expanding demand from laboratories worldwide. The necessity for toxicity testing and fundamental and applied research in fields like nutrition, immunology, neurology, and genetics is what primarily drives this need.
Scope of the Report
This report offers past, present as well as future analysis and estimates for the Animal Model Market. The market estimates that are provided in the report are calculated through an exhaustive research methodology. The research methodology that is adopted involves multiple channels of research, such as – primary research, secondary research, and subject-related expert advice. The market estimates are calculated based on the influence of the current market dynamics along with various economic, social, and political factors on the Seasonal Affective Disorder Market. Also, various regulations, government spending, and research and development growth define the market data. Both positive, as well as negative changes to the market, are taken into consideration for the market estimates.
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