I totally agree with you, animal testing is a great way to test all kinds of medical and pharmaceutical appliances. Also, because a lot of animals also breed a lot quicker than (in respect) humans do, the consequences, of some drugs and medical appliances, can be monitored on later generations (a lot quicker).
Although, I must say that I find the testing of cosmetical products on animals horrific. Those tests should be done on humans in my perspective.