Animal Model Market

1. Unraveling the Dynamics of the Animal Model Market: Trends and Projections The animal model market is projected to witness exponential growth by 2028 due to increasing pharmaceutical research and development activities around the world. Surging number of investigators and institutions globally are employing a variety of large and small animal models to investigate key features of COVID-19, such as pathology, transmission, and host responses to SARS-CoV-2. Moreover, animal models are also being adopted to assess the safety and efficacy of prospective treatment drugs and vaccinations, which has augmented industry expansion. The animal model market has been segregated based on end use, animal type, use, technology, application, and region. With respect to animal type, the market has further been classified into hamsters, mice, sheep, rats, monkeys, fish, rabbits, birds, cats, cattles, dogs, pigs, guinea pigs, amphibians, and others. In 2021, the pigs sub-segment was worth more than USD 669 million and is slated to expand at a CAGR of approximately 5.0% over the analysis period. This growth is attributed to the similarity of pigs to humans in terms of genetics, physiology, and anatomy. From the technology perspective, the animal model market has been bifurcated into laser therapy, CRISPR, nuclear transfer, microinjection, embryonic stem cell injection, and others. The embryonic stem cell injection sub-segment held a valuation of nearly USD 2,787 million in 2021 and is anticipated to progress at a CAGR of around 8.2% through the projected timeline. Embryonic stem cell injection offers several advantages, including cost-effectiveness, easy transfer of genetic material, and timesaving, among others, which is set to boost segmental development in the coming time period. Based on application, the market has been segmented into preclinical applications, research & development, academics, production and quality control, and others. The animal model market size from the academics’ sub-segment surpassed USD 315 million in revenue in 2021 and is speculated to witness robust growth through 2028, registering a CAGR of above 9.2% between 2022 and 2028. Growing research activities in colleges and other institutions are likely to bolster segmental expansion. By use, the animal model market has been divided into veterinary and human. In 2021, the veterinary sub-segment exceeded a valuation of USD 3,451 million and is estimated to grow at about 7.8% CAGR through the review period. Rising prevalence of fatal animal disorders is set to propel segmental progress. In terms of end-use, the animal model market has been categorized into contract research organizations (CRO), companies, academic and research institutes, and organizations. In 2021, the contract research organizations (CRO) sub-segment garnered a revenue worth USD 1,340 million and is projected to develop at a CAGR of approximately 8.1% over the assessment period. Increasing R&D expenditure and growing number of clinical trials in emerging countries are estimated to drive product uptake in CROs over the forthcoming years. On the regional front, the Latin America animal model market was valued at around USD 119 million in 2021 and is expected to expand at a sturdy growth rate of nearly 8.0% through the

2. forecast period. Mounting healthcare expenditure, along with rising scientific research activities, is set to foster regional market outlook.