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Animal Model Market Size, Share, Growth Analysis Trends And Forecast 2024-2033
Animal Model Market Size
According to The Business Research Company's, The animal model market size has grown strongly in recent years. It will grow from $1.76 billion in 2023 to $1.92 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to the rising adoption of animal models for biomedical research, surging expenditure and high investments in drug development and discovery, growing focus on precision medicine, and extensive applications of animal models in the healthcare industry.
The animal model market size is expected to see strong growth in the next few years. It will grow to $2.69 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to advancements in genetic engineering, increased focus on personalized medicine, rising prevalence of chronic diseases, growing need for effective vaccines and therapeutics, increased investment in biomedical research. Major trends in the forecast period include increasing demand for animal models in drug discovery and development, rising prevalence of chronic diseases, physiological similarities between humans and animals reduces drug development time, growing consumption of personalized medicine driving the demand for humanized mice models, high growth of the market due to rising adoption of animal models for biomedical research.
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Market Drivers and Trends:
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 is a complex process where science and innovation converge to create medical advancements. With the rise of innovative therapies, pursuing treatments for complex diseases, alongwith driving scientific curiosity and commercial opportunities in the healthcare sector moves research and development process. Animal models are crucial in pharmaceutical research and development for predicting drug efficacy, safety, and toxicity, providing insights into biological mechanisms, and aiding in developing new treatments by mimicking human physiological responses and disease progression in controlled settings. For instance, in June 2023, according to the European Federation of Pharmaceutical Industries and Associations, a Belgium-based trade association and lobbying organization, spending on pharmaceutical research and development across Europe was €44,500 ($47999) in 2022 and €42,533 million ($45877 million) in 2021, an increase of 7.82% from €39,442 ($42543 million) in 2020. Therefore, the growing pharmaceutical research and development investment is driving the animal model market.
Major companies operating in the animal model market are focusing on developing innovative products, such as triple-immunodeficient animal models, to enhance the accuracy and reliability of preclinical studies, support advanced biomedical research, and facilitate the development of novel therapies for complex human diseases. Triple-immunodeficient animal models are specially engineered animals, typically mice, that lack three key immune system components. These models are invaluable in biomedical research, particularly for studying human diseases and developing new treatments. For instance, in January 2024, Charles River Laboratories International, Inc., a US-based pharmaceutical company, launched NCG mouse strains, a triple-immunodeficient mouse model for oncology research. NCG mice are triple immunodeficient, lacking functional/mature T, B, and NK cells, and exhibit reduced macrophage and dendritic cell function. These animal models can host xenograft cells, tissues, and human immune system components. This mouse model is ideal for research in oncology, immunology, tumor biology, infectious diseases, graft-versus-host disease (GvHD), diabetes, regenerative medicine, hematopoiesis, and tissue transplant studies. NCG mice can also create humanized mice by engrafting PBMCs or CD34+ stem cells, closely mimicking the human immune system.
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Major Key Players of the Market:
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.
Animal Model Market 2024 Key Insights:
• The animal model market size is expected to see strong growth in the next few years. It will grow to $2.69 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%.
• Growing Number Of Pharmaceutical Research And Development Activities Fuels Growth In The Animal Model Market
• Triple-Immunodeficient Mice And Their Impact On Biomedical Research
• North America was the largest region in the animal model market in 2023
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