The animal model market is projected to experience significant growth over the next decade, according to a recent demand analysis report. The market is estimated to generate revenue of approximately USD 1,943.3 million in 2024, driven by the advantages of using animal models in laboratory testing, including their shorter life cycles, high genotype resemblance, and ease of use.
The report forecasts that the global animal model market will grow at a moderate compound annual growth rate (CAGR) of 6% over the next ten years, reaching an estimated value of nearly USD 3,476.8 million by 2034. This growth reflects the increasing demand for animal models in scientific research and development.
According to the latest animal model demand analysis report, the market’s growth is fueled by increasing research activities and the need for effective preclinical models in drug development. As the scientific community continues to seek reliable and efficient methods for medical testing, the demand for animal models is expected to rise significantly.
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Animal models play a crucial role in various stages of drug development, from initial discovery to preclinical and clinical trials. Their use enables researchers to understand biological mechanisms, test the efficacy and safety of potential treatments, and evaluate disease progression and therapeutic interventions.
Key Takeaways from the Animal Model Market Study Report:
- The market in North America is expected to account for over 40% of the global market share in 2024, followed by Europe.
- The United States creates the most demand for preclinical animal models in North America and is poised to advance further with a 6.7% CAGR through 2034.
- Germany is expected to continue to be the most lucrative market for animal models in Europe, exhibiting a growth rate of 8.2% through 2034.
- The United Kingdom is another notable market for the use of laboratory animals, which is likely to exhibit a 6.6% CAGR till 2034.
- China is the leading supplier of animal models for preclinical research in Asia and is expected to witness a 6.1% CAGR through 2034.
Competitive Landscape for the Animal Model Market Participants:
The competition in the animal model industry is highly concentrated, and many contemporary participants are focused on the rat and mouse model segment. However, the approval and adoption of many other animal species, like pigs or non-human primates, is expected to diversify the market by increasing animal model suppliers.
“Rising demand for biomedical research animals and their increased use in the development of personalized medicine has created new opportunities for existing animal model suppliers. Further, more government support in the form of funding and subsidies for supplying laboratory animals in pharmacological studies has encouraged many start-ups in recent years,” – says a lead analyst at FMI.
Key Players Profiled in the Animal Model Market Report:
- Charles River Laboratories International, Inc.
- Horizon Discovery Group plc.
- The Jackson Laboratory
- Taconic Biosciences, Inc.
- Genoway SA
- Eurofins Scientific SE
- Crown Bioscience, Inc.
- Envigo CRS SA
- Transposagen Biopharmaceuticals, Inc.
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Key Segments Covered by Animal Model Industry Survey Report:
By Species Type:
- Rats
- Mice
- Guinea Pigs
- Rabbits
- Monkeys
- Dogs
- Pigs
- Cats
- Other Species
By Application:
- Basic and Applied Research
- Drug Discovery and Development
- Other Applications
By End User:
- Academic & Research Institutions
- Pharmaceutical Companies
- Biotechnology Companies
- Contract Research Organizations (CROs)
- Other End Users
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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