Key Insights on Expansion of Global Animal Model Market during 2017-2026
Human beings and animals share a common physiological and biological structure. It is very easy and simple to control environment as related to human beings. Thereby, the animal models are being used in the biomedical research, which helps innovate new treatment methods for different diseases. A report on global animal model market has been developed by Future Market Insights. A researcher from FMI has retrieved several questions based on presumed expansion of the global market.
What is your take on expansion of global animal model market?
According to the report, the global market for animal model is likely to grow at impressive CAGR during 2017-2026. The market is pegged to surpass estimated valuation of US$ 2.2 Bn by the end of 2026, in terms of revenues.
Why the use of animal models is increasing in the market?
The rising number of animal models has been utilized in the market, particularly in biomedical research, which helps innovate new treatment methods for different infections. Leveraging animal models provide better understanding of various diseases, along with effectiveness of drugs related to the diseases. Due to these factors, the demand for animal models has been experiencing a huge surge in near future. On the other hand, tissue cultures, cell cultures, as well as computer models are also available in the market however, animal models are preferred due to complexity of the living systems. Further, this makes animal models a perfect choice for biomedical research.
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Do you think the market is segmented on the basis of species, which is the leading segment in the market?
Well, in terms of revenues, the mice and rats are anticipated to account more in the market. The market share of this segment is likely to procure two-fifth share of the global market. The segment is likely to witness considerable expansion, in terms of revenues, by the end of 2026. Additionally, use of monkeys and cats is likely to showcase similar growth rate to that of mice and rat segment. On the other hand, pigs and dogs are anticipated to be the least lucrative segment in the market during the assessment period.
How do you think the market is growing at regional level?
The market in North America is likely to remain the largest region as well as the fasted expanding market, in terms of revenues and is anticipated to surpass US$ 800 Mn by the end of 2026. In Europe and Asia-Pacific, between the animal models market, the former is likely to account for more revenue share, on the other hand, the latter is likely to grow at relatively higher CAGR during the assessment period. Though the South Korea market is likely to account for relatively lower share of the market, revenues from this region is anticipated to grow at higher CAGR than other regions such as Middle East & Africa, Latin America.
What are the leading players operating in the global animals models market?
Well, Transposagen Biopharmaceuticals, Inc., Taconic Biosciences, Inc., Envigo CRS SA, Eurofins Scientific SE, Crown Bioscience, Inc., and Genoway SA, are considered as the continuously contributing companies to the growth of the global market. However, Trans Genic Inc, Charles River Laboratories International, Inc., The Jackson Laboratory, and Horizon Discovery Group plc. have also amalgamated their footprints in the global market in recent past.
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