Animal Model Market - Forecast(2024 - 2030)

Key Takeaways

• Geographically, the North America Animal Model Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027.
• Far-reaching applications in virology and ascension in various transmissible and life-threatening diseases are said to be preeminent drivers driving the growth of the Animal Model Market. The scarcity of skilled professionals and rising voices against animal cruelty are said to reduce the market growth.
• Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Animal Model Market report.

Animal Model Market Segment Analysis-By Application

The Animal Model Market based on the application type can be further segmented into virology, immunology, microbiology, neurology, oncology, and others. oncology segment held the largest share in 2021. The growth is owing to the petrifying prevalence of cancer worldwide. After heart attacks, cancer is a dominant cause of death all over the globe. Spiraling smoking and alcohol consumption trends, prolonged sittings, worsened air quality, and weakening immunity is the primary reason behind this massive surge. the animal model has the capability of categorizing cancer genes which can assist in outlining a better and more effective cure. On another hand, common psychological and genomic features of the tumor biology of human beings and animals like mice have strengthened the likelihood of effective research. Furthermore, virology and microbiology are estimated to be the fastest-growing segments with a CAGR of 6.9% over the forecast period 2022-2027. This growth is owing to the growing threat of another pandemic after the COVID-19 outbreak. Consequently, ascending research and developmental activities are acting as a preeminent factor driving the demand for the respective market.

Animal Model Market Segment Analysis-By End User

The Animal Model Market based on end-user can be further segmented into research facilities (government-owned, private, and academic) and biotechnology companies. The research facilities segment held the largest share in 2021. The growth is owing to the mind-numbing research activities that these facilities have gone through in the last two and half years to fabricate an effective and safe cure for the COVID-19. For instance, Oxford-AstraZeneca (Covid vaccine) has been developed by joint efforts of oxford university and AstraZeneca. Moreover, research facilities and biopharmaceutical companies are estimated to be the fastest-growing segments with a CAGR of 7.3% over the forecast period 2022-2027. This growth is owing to the heightening allocation of hard cash by both governments and private companies in order to better deal with any future continencies. On another hand, the rising swell of transmittable diseases and growing mutation in the protein structure of the COVID-19 intensifying research prospects.

Animal Model Market Segment Analysis-By Geography

The Animal Model Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 41% of the overall market in 2021. The growth in this segment is owing to the factors such as jaw-dropping research funding by governments of countries like the U.S. and Canada. In addition to that, the U.S. has a massive presence of research laboratories and research institutions like Harvard, Stanford, MIT, and others that are recognized worldwide for their astonishing infrastructure. Moreover, Asia-pacific along with North America is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to the rising wealth of Asian Countries such as China, India, and Indonesia. Economic prosperity is ensuring an innumerable flow of riches into research and developmental activities. On another hand, a bid to improve healthcare infrastructures such as hospitals and research laboratories by the government is extending proper ground to the growth of the respective market.

Animal Model Market Drivers

Climbing chronic illnesses and contagious diseases are Anticipated to Boost Market Growth

Poor hygiene, sedentary habits, widespread pollution (water, air, and land), dwindling immunities have been adding fuel to fire and stimulating the already heightened surge of cardiovascular diseases including cancer and heart attack. According to a 2021 published report of WHO, approximately 17.9 million people all over the world fell victim to heart attack and died in 2019 and approximately 10 million lost their lives worldwide owing to cancer in 2020. Nevertheless, another WHO report claims that poor and middle-income countries report over 800,000 untimely demises of people owing to infections associated with poor hygiene and polluted drinking water. Consequently, broadening the prevalence of cancer and other severe complications driving medical professionals toward the animal model in their quest to stumble upon a breakthrough.

Expanding funding from governments and private players is Expected to Drive market growth

Just like a coin, the COVID-19 has its pros and cons. The pandemic outbreak has made full-fledged healthcare infrastructure a norm. therefore, governments worldwide are allocating innumerable packages to the healthcare sector. For instance, every year the U.S. spends more than $138 billion on research and development activities. On another hand, with a spike of 10.3% in 2020 China’s overall R&D spending reached $378 billion. Consequently, the overall practices of animal models are accruing worldwide and driving the respective market.

Animal Model Market Challenges

Scarcity of skilled professionals, the requirement of too much money, and growing campaigns of the organization like PETA are Anticipated to Hamper Market Growth

Making a career in research is a hard nut to crack and requires an enormous amount of knowledge and skillset. Therefore, a lack of professionals is likely to adversely impact the growth of the respective market. On another hand, every year governments and private players are required to pump millions of dollars to keep research activities alive which many countries cannot afford. Also, animal welfare organizations like PETA are raising their voices for the ethical treatment of animals and are anticipated to strangle the growth of the animal model market.

Animal Model Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Animal Model Market. Key companies of this market are-

1. JSR Corporation
2. Envigo
3. Charles River Laboratories
4. PerkinElmer
5. Jackson Laboratory
6. GenOway
7. Horizon Discovery Group
8. Taconic Biosciences
9. Hera BioLabs
10. Eurofins Scientific

Recent Developments

• May 17, 2021, Massachusetts, United States-based pharmaceutical player Charles River Laboratories publicized that it has reached an acquisition agreement with a US-based biotechnology company “Vigene Biosciences.” According to the terms of the agreement, Charles River will be making a payment of $292.5 million to acquire Vigene. In addition to that, the transaction is strengthening Charles’s Viral vector and Nucleic acid (DNA) production proficiencies.
• March 16, 2021, JSR Lifesciences, a subsidiary of Tokyo, Japan-based company “JSR Corporation” announced the successful acquisition of Japan-based company “Medical & Biological Laboratories”, a company that deals in medical equipment. JSR bought 100% shares and paid 4.4 billion yen in order to bring the acquisition to a close.
• January 7, 2021, Massachusetts, United States-based “PerkinElmer”, a company that deals in life science research announced that it has successfully acquired Abingdon, United Kingdom-based diagnostics firm “Oxford Immunotec.” PerkinElmer has paid $591 million ($22 per share) in order to wrap up the acquisition process. Moreover, the transaction strengthens PerkinElmer’s transmittable ailments testing portfolio.

Relevant Links:

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