Animal Model Market: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017 - 2026)
LONDON, May 21, 2018 /PRNewswire/ -- Animals on whom pathological and biological studies are performed and tested are referred to as animal models. Animal models are utilized on the back of their functional resemblance to human bodies. Various guidelines have been offered that have to be followed when animal models are used for experiments.
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Government Intervention in Research Institutions is rising for Developing Standard Protocols related to Animal Models
Essential requirement for animal research for achieving progress in healthcare and medical science is well proven, which in turn has gained support from researchers. Rapid advancements in novel technologies have made animal models easy and constructive. Significant incidence rate of diseases, along with adverse effects of drugs have driven the adoption of animal models for ensuring the safety of humans. In addition, increasing government intervention in research institutes for the development of standard protocols associated with animal models will fuel expansion of the market. Researchers utilize animal models for basic research such as developing new therapeutic strategies to treat human diseases, for drug discovery which includes target identification & validation, drug screening & lead optimization, and toxicity & safety screening, and in preclinical analyses of drug safety & efficacy.
global animal model market
Although animal models have been deemed less effective for human disease research, where only 5% of drugs derived are suitable for humans, the market for animal models is huge. Majority of animals used as models are bred for research purposes, albeit they are obtained from various other sources. For instance, surplus dogs from Austria used in the greyhound racing industry are being used in research labs. However there is a rising concern for animal welfare, which in turn has compelled research organizations to seek measures for reducing number of vertebrate animals in research. Additionally, there is surging requirement for organizations and researchers to encourage open engagement with policy makers and the public regarding promotion of animal research's value and discussion about animal welfare issues.
Global animal models market has been estimated by Future Market Insights' new report to exhibit an impressive expansion over the forecast period (2017-2026). Revenues from the market are estimated to exceed US$ 2,000 Mn by 2026-end.
North America to Remain Most Lucrative Market for Animal Model
Significant investments are being made in animal model research in North America, along with relevant policies being reformed by the government to spur the funding plans related to animal model research. Several leading players in North America are expected to make huge investments in biogenic researches in the near future. North America will continue to be the most lucrative market for animal model. Asia-Pacific and Europe are also expected to be lucrative for expansion of animal model market.
Rats are anticipated to remain the dominant species used in animal models, with revenues projected to account for more than one-third market share during the forecast period. Mice will continue to be the second most lucrative species used in animal models. Revenues from use of dogs and pigs as animal models will account for nearly equal market share by 2026-end.
Key Research Findings from FMI's Report on Animal Model Market
Academic and research institutions are expected to remain the largest end users of animal models, trailed by pharmaceutical companies
Animal models will find the largest application in drug discovery/development
Competition Tracking
Key market participants identified by the report include Charles River Laboratories International, Inc., Horizon Discovery Group plc, The Jackson Laboratory, Trans Genic Inc, Taconic Biosciences, Inc., Genoway SA, Eurofins Scientific SE, Crown Bioscience, Inc., Envigo CRS SA, and Transposagen Biopharmaceuticals, Inc.
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