Animal Model Market to Showcase CAGR of 7.50% between 2018-2024
Posted On September 14, 2018
According to the study conducted by Value Market Research (VMR) the Global Animal Model Market is expected to grow at CAGR 7.50 % from USD 1540.2 MN in 2017 and reach USD 2572.80 MN by 2024. Recent past few years have seen many breakthroughs in biomedical sciences creating various novel therapies for the unmet needs of patients. Majority of the drugs nowadays are only possible because of the ongoing modern research on animal models. The model chosen usually meets the determined taxonomic equivalency to a human for the research and investigation purpose so as to get the better understanding of the human disease.
Rising need for the development of novel drugs and therapies for the treatment of certain specific diseases has accelerated the use of the animal model in the last few years. The rising prevalence of the various chronic diseases has been so rapid that government is heavily investing in such research activities thereby fueling the market growth. Additionally, the use of the animal model is so rapid that they are used for both evaluation pipeline as well as for the establishment of new treatment modalities especially for cardiovascular diseases, cancer, neurological disorders, and metabolic anomalies. Also, the growing innovation in genetic engineering that helps in evaluating the drug's mechanisms is likely to boost the market growth for the drug discovery which in turn will raise the demand for the animal model.
The report "Global Animal Model Market Report By Species (Monkeys, guinea pigs, dogs, Cats, Rats, Mice, and Rabbits), Application(physiology, toxicology, cancer research, neurological research, biomedical research, genetic research, and xenotransplantation), End-User(academic & research institute, pharmaceutical companies, CROs, and others), And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2017-2024" has recently updated with latest statistical data which can be used for the market evolution to explore new opportunities.
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The global animal model market is segmented by species into monkeys, guinea pigs, dogs, cats, rats, mice, and rabbits. Among these, the mice segment is the leading market segment owing to their phylogenetic relatedness and physiological similarity to humans and the ease of maintaining and breeding them in the laboratory. They are an ideal choice for genetic studies as its genome can be manipulated and analyzed. Application-wise the market is bifurcated into physiology, toxicology, cancer research, neurological research, biomedical research, genetic research, and xenotransplantation. Physiology is the dominating segment since it helps to gain valuable insights into physiology structure in a human which can be further helpful for the treatment of various clinical disorders. On the basis of end-user, the market is academic & research institute, pharmaceutical companies, CROs, and others. The pharmaceutical industry is dominating the segment owing to the growing number of preclinical examination for the novel drug development in response to meet the huge unmet need of patients around the world.
From the geographical perspective, North America is leading the global animal model market owing to the growing investments being made in animal model research in the region, along with relevant policies being reformed by the government to raise the funding plans associated to animal model research. The market growth in Europe is accounted for the increasing use of animal models in the biomedical research to develop new therapeutic methods for various diseases. At the same time, Asia-Pacific region is growing at the steady rate owing to the ongoing innovations in mice models, continuous support in the form of investments and grants, along with the rising demand for humanized mice models. The mice models market is expected to experience the highest growth rate in the Asia-Pacific region.
The report segments the market -
- Cancer Research
- Neurological Research
- Biomedical Research
- Genetic Research
- Pharmaceutical Companies
- Research Institutes
- Contract Research Organizations
- Educational Institutes
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
The major players profiled in the report are:
Charles River Laboratories, Envigo, GenOway S.A, Harlan Laboratories, Janvier Labs, SAGE Labs, Taconic Laboratories, Transgenic, Inc., and Transposagen Biopharmaceuticals
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