Animal Model Market estimated at US$ 2,394.30 Mn in 2028

Animal models are good research subjects for a variety of reasons. Animal model is a tool that researchers use to study diseases and test treatments in cases where human experimentation is not possible or unethical. They are based on the principle of comparative medicine that animals share physiological, pathological, behavioural, or other characteristics with humans. Typically, animal models are essential for research that seeks to understand complex questions of disease progression and potential treatments. Animal models are being used in biomedical research to develop novel treatment methods for various chronic diseases.

Market Statistics:

The global animal model market is estimated to account for US$ 1,686.20 Mn in terms of value by the end of 2022.

Drivers:

Outbreak of COVID-19 (global pandemic) is expected to propel growth of the global animal model market over the forecast period. The demand for COVID-19 diagnosis, prevention, and treatment has increased the usage of animal models, because they closely mimics the clinical manifestation of the virus (COVID-19). For instance, in June 2021, Scientists at the Institute of Life Sciences (ILS), India developed animal models and a modern laboratory to help in test and evaluate drugs and vaccine candidates for the novel coronavirus. This platform at ILS has been established with the support from Biotechnology Industry Research Assistance Council (BIRAC) under Mission COVID Suraksha.

Opportunities:

Rise in usage of animal models is expected to offer significant growth opportunities for players in the global animal model market. For instance, in September 2020, Charles River's Research Models and Services division announced the launch of digital animal model ordering platform for North America to offer an effortless experience to the clients. The company is also focusing on developing more digital tools such as Enhanced GEMS services quoting tool, Find a model tool, and Risk-free animal evaluation program.

Restraints:

Regulations and laws for the ethical use of animals in research are expected to hamper growth of the global animal model market during the forecast period. For instance, stringent rules and regulations for animal protection has led to restrictive practices and restrictions on the use of animals for research purposes. Many countries also have banned the usage of animal models.

Global Animal Model Market - Impact of Coronavirus (Covid-19) Pandemic

The outbreak of COVID-19 has had a positive impact on the animal model market. The usage of animal model in COVID-19 research studies is rising at a significant pace for safe, effective drugs and vaccine development. Animal that closely resemble the pathogenesis of SARS-CoV-2-induced disease in humans are essential for the research on disease mechanisms and for the evaluation of potential vaccines and antiviral drugs. The adoption of animal models in research facilities surged tremendously because they closely mimics the clinical manifestation of SARS-CoV-2. This in turn is expected to aid in the market growth.

To know the latest trends and insights prevalent in the Global Animal Model Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/animal-model-market-2488

Key Takeaways:

The global animal model market was valued at US$ 1,577.30 Mn in 2021 and is forecast to reach a value of US$ 2,394.30 Mn by 2028 at a CAGR of 6% between 2022 and 2028.

Among animal type segment rat segment held dominant position in the global animal model market in 2021, accounting for 61.7% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Market Trends:

1. Increasing number of research and development activities are expected to boost the growth of the global animal model market. For instance, in January 2020, Taconic expanded its premier immuno-oncology portfolio with the launch of the new B2m-NOG mouse model. Immuno-oncology leverages the body’s immune system to fight cancer.
2. Growing R&D expenditure in the pharmaceutical & biopharmaceutical industry is expected to drive growth of the global animal model market. For instance, as per the U.S. Congressional Budget Office, in 2019, the pharmaceutical industry spent around US$ 83 billion on research and development (R&D) activities in the U.S.

Competitive Landscape:

Major players operating in the global animal model market include Charles River Laboratories International, Inc., The Jackson Laboratory, Taconic Biosciences, JSR Corporation (Crown Bioscience Inc.), Genoway S.A, Eurofins Scientific SE, Envigo, Perkinelmer, Inc. (Horizon Discovery Group), Ozgene Pty Ltd., and Hera Biolabs (Transposagen Biopharmaceuticals).

Recent Developments:

In April 2021, Taconic Biosciences, a global leader in providing drug discovery animal model solutions, announced the launch of a COVID-19 mouse model.

In October 2019, Crown Bioscience entered into a strategic partnership with NEXT Oncology to provide new clinically-relevant PDX models for preclinical drug development.

In April 2019, Envigo’s Research Models Services business acquired the Covance Research Products business to become a pure-play research models and services business.