IMARC Group, a leading market research company, has recently released a report titled “Animal Model Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global animal model market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the global animal model market?
The global animal model market size reached US$ 1,696.5 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,503.4 Million by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028.
What is animal model?
Animal models represent living and non-human species widely used in medical research and investigations. They are frequently selected, owing to their vast similarities with the anatomy, genetics, and physiology of humans. In line with this, animal models aid in obtaining information regarding the diagnosis, prevention, and treatment of diseases without causing harm to a human. Some of the commonly available animal models include mice, gerbils, rodents, rats, guinea pigs, hamsters, etc. They offer ease of handling and a relatively low cost of use.
What are the growth prospects and trends in the animal model market?
The inflating need for personalized medicines and the growing prevalence of genetic disorders, such as Crohn’s disease, down syndrome, breast cancer, hemophilia, etc., are primarily driving the animal model market. Additionally, continuous advancements, such as the development of CRISPR-Cas9, a genome editing technology that helps in minimizing the time and cost required for enabling the production of animal models with extensive genetic modifications, are further catalyzing the market growth.
Apart from this, the widespread adoption of animal models in the pre-clinical development of drugs by researchers is acting as another significant growth-inducing factor. Moreover, they are also utilized in biomedical research, toxicology, physiology, neurological research, genetic research, cancer research, xenotransplantation, etc., which is positively influencing the global market.
Besides this, the sudden outbreak of the COVID-19 pandemic across countries is propelling the animal model market growth. Furthermore, the rising investments by international organizations, including World Health Organization (WHO), and government bodies in R&D activities are anticipated to fuel the animal model market over the forecasted period.
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Global Animal Model Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
Who are the key players operating in the industry?
Animal Model Key Companies:
- Biocytogen
- Charles River Laboratories International Inc
- Envigo
- Eurofins Scientific SE
- GenOway S.A.
- Hera BioLabs
- JSR Corporation
- Ozgene Pty Ltd.
- PerkinElmer Inc.
- Taconic Biosciences Inc.
- The Jackson Laboratory
- Trans Genic Inc.
Key Market Segmentation:
The report has segmented the global animal model market on the basis of animal type, technology, application, end user and region.
Breakup by Animal Type:
- Rat
- Mice
- Guinea Pigs
- Rabbits
- Others
Breakup by Technology:
- CRISPR
- Embryonic Stem Cell Injection
- Nuclear Transfer
- Others
Breakup by Application:
- Drug Discovery and Development
- Basic Research
- Others
Breakup by End User:
- Pharma and Biotech Companies
- Academic Research Institutes
- Others
Breakup by Geographical Analysis:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Explore Full Report Description At: https://www.imarcgroup.com/animal-model-market
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