ANIMAL MODEL MARKET ANALYSIS

Animal Model MarketSize and Trends

Market Statistics:

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 6.0% between 2022 and 2028.

North America held dominant position in the global animal model market in 2022, accounting for 37.8% share in terms of volume, followed by Europe and Asia Pacific, respectively.

Figure 1. Global Animal Model Market Share (%), by Region, 2022

Market Trends/Key Takeaways:

1. Large number of applications in healthcare domain and physiological similarities between human and animal is expected to accelerate growth of the global animal model market during the forecast period. For example, in September 2020, Charles River's Research Models and Services division launched digital animal model ordering platform for North America. It is a giant step to reduce the risk of human error, improve operational communication, and give us better insight into how we can better serve the research community.
2. Growing consumption of personalized medicine is expected to propel growth of the global animal model market over the forecast period. For example, the National Precision Medicine program and the Three Beyonds program were launched in Singapore for promoting the uptake of new technologies and digital infrastructure for supporting personalized healthcare.