(MENAFN- EIN Presswire)
Market Size – USD 1.54 Billion in 2021, Market Growth – at a CAGR of 6.2%, Market Trend – Increasing demand for mice models for laboratory tests
NEW YORK, NEW YORK, UNITED STATES, August 5, 2022 /EINPresswire.com / --
Rapid growth in drug discovery and development in pharmaceutical sector, and increasing use of animal models in basic and applied research are some key factors driving market revenue growth
The global animal model market size is expected to reach USD 3.15 Billion in 2030 and register a revenue CAGR of 7.6% over the forecast period, according to latest report by Reports and Data. Rapid growth in drug discovery and development in pharmaceutical sector, along with increasing use of animal models in basic and applied research, are expected to drive market revenue growth during the forecast period. Increasing demand for mice models for laboratory tests, clinical research, as well as for educational purposes, is expected to support revenue growth of the global animal model market in the near future.
Rising demand for drugs, vaccines, and monoclonal antibodies against emerging diseases has led to increased use of animal models for research & development processes. Mice models are widely used in pharmaceutical as well as biotechnological institutions, due to their small size, average to small span of life and reproductive cycle, and ease of genetic manipulation. The similarity of organ systems of mice with humans also makes them an essential component for drug development and screening, which is increasing demand for mice as an animal model and is expected to drive revenue growth of the market in the near future.
Key companies profiled in the report include
Charles River Laboratories International, Inc., The Jackson Laboratory, Laboratory Corporation of America Holdings, Horizon Discovery Group plc, Trans Genic Inc., genOway, Taconic Biosciences, Inc., Envigo, Inotiv Inc., Janvier Labs, and Ingenious Targeting Laboratory (Ingenious).
Get a sample of the report @
The report is an investigative study that determines market growth and market scope on the basis of market trends, consumer behavior shifts, consumption and production patterns, product portfolio offered by the market, growth rate, drivers and constraints, financial positions, and existing challenges and limitations of the Animal Model market.
The report discusses in detail the global production capacity, demand and supply ratio, market dynamics, and comprehensive analysis of the competitive landscape. It provides an industry-wide analysis of the market share of each players along with their business portfolio, production and manufacturing capacity, product portfolio, business expansion plans, financial standing, and strategic alliances such as mergers and acquisitions, joint ventures, and collaborations, among others.
Order this Report @
The regional bifurcation of the market analyzes key market segments such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report discusses in detail the market growth, market size, revenue growth, market share, production and consumption, demand and supply, current and emerging trends, and technological developments in each region.
The key geographical regions analyzed in the market report are:
North America (U.S.A., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Animal Model Market Segmentation based on Types:
Species Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion; 2019-2030)
Drug Discovery and Development
Basic and Applied Research
End-use Outlook (Revenue, USD Billion; 2019-2030)
Some Key Highlights in the Report
Mice segment is expected to account for a larger revenue share over the forecast period. Increasing use of mice models during drug development and discovery is driving revenue growth of this segment. Mice species are essential models in drug development processes, as they are used for testing several types of lead molecules and screening out potential drugs that are safe for use in humans.
Pharmaceutical segment is expected to account for largest revenue share in the global animal model market between 2022 and 2030. Rising demand for animal models in this sector for research & development to produce medicines, drugs, vaccines, and antibodies is driving revenue growth of this segment. Government regulations in various countries to test drugs in non-primate species is also increasing demand for animal models, which is expected to support revenue growth of this segment over the forecast period.
North America animal model market is expected to account for largest revenue share in the global market over the forecast period. Rapid growth of pharmaceutical and biotechnology industries in which animal models play an essential part is expected to drive market revenue growth in the region.
Request a customization on the report @
Thank you for reading our report. For further inquiry or query about customization, kindly get in touch with us to know more. Our team will clear your doubts and ensure the report is customized to meet your requirements.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Reports and Data
email us here
Visit us on social media:
Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.