According to a recently compiled study from Future Market Insights titled “Animal Model Market: North America to Lead in Terms of Revenue Through 2026,” the global animal model market will reflect an impressive compound annual growth rate through the forecast period 2017 to 2026, with revenues poised to surpass $2.2 billion by the end of 2026.
Key takeaways from the report include:
- North America is expected to remain the largest and fastest-expanding market for animal models, with the other growing markets—in order of higher growth to lower—growth being Asia-Pacific, Europe, Latin America and the Middle East/Africa region.
- On the basis of species, revenues from rats and mice are projected to account for over a two-fifths share of the market by the end of 2026, though the revenues from use of cats and monkeys in animal models will rise at a comparable rate. Dogs and pigs are expected to remain the least lucrative species used in animal models during the forecast period.
- Contract research organizations and biotechnology companies are anticipated to remain the fast-expanding end-users of animal models.
- Basic and applied research applications of animal model will continue to register the fastest expansion through 2026. However, drug discovery/development will remain the most lucrative application of animal models.
Key companies contributing to growth in this market include Transposagen Biopharmaceuticals, Envigo, Crown Bioscience, Eurofins Scientific, Genoway, Taconic Biosciences, Trans Genic, The Jackson Laboratory, Horizon Discovery Group and Charles River Laboratories International.
