The global animal models market was valued at approximately $1.4 billion in 2021 and is projected to reach approximately $2.5 billion by 2028, expanding at a CAGR of 6% over the forecast period. In this study, we will discuss the whole industry overview, development drivers, opportunities, and challenges for the animal model market between 2022 and 2028.
Global Animal Model Market : Industry Growth Factors
The growth of the Global Animal Model Market is driven by the expansion of the pharmaceutical and drug discovery industries.
Due to the advent of different diseases and chronic illnesses, drug discovery and the development of immunisations have increased tremendously in recent decades. This has accelerated the development of novel treatment approaches and pharmaceuticals by scientists and researchers. Due to these causes, animal model testing has expanded significantly, consequently substantially accelerating the global market rate.
Researchers from around the globe are concentrating on genetically modified models in order to improve the results of any testing. To attain accuracy, the metabolic activities, life processes, and biological structures of the testing animals must mirror those of humans. This element contributes exclusively to the revenue growth.
Cancer disease has become more prevalent in a number of places, necessitating rigorous testing of potential cancer treatments using animal models. Research funds and government efforts that support such a mission contribute to the expansion of the animal model market in all countries. The predominance of the elderly population and the incidence of chronic illness among the elderly are also excellent market drivers.
Additionally, animal models are utilised to comprehend the severity of diseases and their related symptoms. With the aid of animal models, the efficiency of vaccinations and preventative treatments is also deduced to a significant degree. These variables provide a substantial boost to the development of healthcare sectors, consequently driving market expansion.
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Global Animal Model Market: Restraints
The cost of animal model research and the government’s stringent rules restrain industry expansion.
The market expansion is hindered by the high cost of research as well as the limitations imposed by higher officials about animal testing. Animal protection organisations have strong ethical concerns over the welfare of animals, which hinders the expansion of the market. The animals’ regular lives are disrupted by the detrimental impacts of these studies, leaving them physically and intellectually handicapped. They also have a deadly effect on animals, which raises a great deal of concern and restrains market expansion.
Global Animal Model Market : Opportunities
Opportunities for Global Animal Model Market expansion are afforded by the expansion of the healthcare industry and ways for enhancing the accuracy of test results.
The worldwide animal model market is afforded attractive potential by the growing prospects in the healthcare industry and the development of innovative approaches for achieving testing precision. Government support for the establishment of standard protocols and animal model testing for the treatment of new diseases provide outstanding prospects for industry growth.
Animal Model Market: Challenges
The high cost of equipment and animal model-based studies poses a barrier to the market’s expansion.
Expensive animal model research and study techniques, as well as the necessary facilities, pose an obstacle to revenue growth. This issue limits the demand and leverage for these tests, and it also impedes market expansion.
Animal suffering caused by these experiments hinders market progress.
There has been an increase in the number of innovative new programmes and methodologies for animal model testing. However, the effect it has on the test animals leads to their death or interruption of their normal existence. This raises a number of ethical considerations that provide a hurdle to the expansion of the business.
Animal Model Market: Segmentation
The global market for animal models is segmented according to animal type, technology, application, end user, and geography. The types of animals include pigs, cats, and mice. Applications are categorised as research, development, production, and quality assurance. Research institutes, educational institutes, pharmaceutical institutes, and contract research firms are the end-users.
Horizon Discovery Group designed and manufactured IgM antibodies and got a licence for an animal model testing commercial agreement in April 2021.
Mammoth Bioscience obtained a new licence for the production of CHO cells using mouse testing protocols in October 2020.