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.
| 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% |
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.
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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.
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.
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Key Segments of Animal Model Industry Research
Animal Model Market by Species:
- Rats
- Mice
- Guinea Pigs
- Rabbits
- Monkeys
- Dogs
- Pigs
- Cats
- Other Species
Animal Model Market by End User:
- Academic & Research Institutions
- Pharmaceutical Companies
- Biotechnology Companies
- Contract Research Organizations (CROs)
- Other End Users
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Animal Model Market by Application:
- Basic and Applied Research
- Drug Discovery/Development
Animal Model Market by Region:
- North America Animal Model Market
- Latin America Animal Model Market
- Europe Animal Model Market
- East Asia Animal Model Market
- South Asia & Pacific Animal Model Market
- Middle East & Africa (MEA) Animal Model Market
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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The post Animal Model Market is projected to reach US$ 2.4 Bn by 2028, registering a healthy CAGR of 6.6% from 2022 to 2028 | FMI appeared first on Future Market Insights.
Published by: Future Market Insights, Inc.