Animal Model Market Revenue to Cross USD 25 Bn by 2026: Global Market Insights, Inc.
The South Korea animal model market revenue is estimated to attain a CAGR of more than 10.7% during 2020 to 2026 owing to rising cosmetic surgeries and several other therapies being adopted by the people.
SELBYVILLE, Del., Nov. 8, 2020 /PRNewswire/ -- According to the latest report "Animal Model Market Animal Type (Mice, Rats, Fish, Birds, Cattles, Pigs, Amphibians, Guinea Pigs, Dogs, Cats, Rabbits, Monkeys, Sheep, Hamsters), Technology (CRISPR, Microinjection, Embryonic Stem Cell Injection, Nuclear Transfer), Applications (Research & Development, Production and Quality Control, Academics, Preclinical Applications), Use (Human and Veterinary), End-use (Companies, Organisations, Academic and Research Institutes, Contract Research Organizations (CRO)), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026", by Global Market Insights, Inc., the market valuation of animal model will cross $25.2 billion by 2026.
Emergence of CRISPR as a powerful tool in biomedical research in developed countries will significantly boost the market growth. The technique of CRISPR is easy to perform and time saving as compared to conventional techniques. CRISPR is a breakthrough technology that has enabled rapid and cost-effective production of animal models. The CRISPR-Cas9 technology allows the production of mutant mouse models that were not possible to create earlier using conventional methods. Knock-in and knockout mouse models have been created using this technique for drug safety tests. Thus, the demand for animal models has significantly augmented driven by the increase in the use of the CRISPR technique. The demand for animal models by a greater number of research institutions and well-established industry players in developed countries has uplifted owing to their affordability of tools and resources pertaining to CRISPR technology.
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The growing number of pharmaceutical research and development activities in developing regions will fuel animal model market revenue. The prevalence of chronic cardiovascular diseases such as hypertension and atherosclerosis in developing countries has led to an increased demand for the development of therapeutic drugs. In order to meet the demand for drugs by healthcare professionals and patients, pharmaceutical companies in developing countries are focusing on R&D activities for the production of novel drugs. Pharmaceutical companies also focus on production of animal models for rare diseases such as cardiomyopathy and osteoarthritis in collaboration with several other organizations. These factors have led to increase in the demand and adoption of animal models.
The pig model segment in the animal model market valued at over USD 615 million in 2019 impelled by the high similarity of physiology and immune system of the pigs to the humans. The porcine immune system resembles human immune system for more than 80% of the analyzed parameters. The upper and lower respiratory tracts of the pig are similar to that of the humans. Therefore, pigs are reliable and appropriate animal models for intranasal vaccine formulations for humans. Pig models are also utilized for development of Bordetella pertussis vaccines and testing of human Norovirus vaccine. Pigs as an animal models are cost-effective and therefore, they are increasingly preferred by researchers.
Animal model market for CRISPR technology segment exceeded USD 4.6 billion in 2019 led by the advantages such as cost-effectiveness and rapid generation of new mouse models. This technique has been used in generation knock-in and knockout mice required for research of neurodegenerative diseases such as Huntington disease and amyotrophic lateral sclerosis (ALS). CRISPR-Cas9 technology has produced rat models being used in development of effective therapeutic approaches.
The preclinical application in the animal model market will showcase growth of around 8.5% till 2026. Growing prevalence of several disorders in humans is leading to increased demand for novel therapeutic drugs that require preclinical evaluation. The preclinical processes of drug development along with small molecules and biologics requires extensive use of animal models. The demand for development of animal models in preclinical applications is increasing due to the rising need for therapeutic drugs. The use of humanized mouse models for preclinical translational research of in vivo human immune system has witnessed significant progress in the recent years.
The animal model market for human use segment is estimated to attain a CAGR of 7.6% through 2026. Animal models are increasingly being used in the study of human diseases propelled by the anatomical and physiological similarities to the humans. This factor enables the researchers to understand the pathogenesis and characteristics of diseases as well as the human physiology. The rising prevalence of viral diseases has augmented the demand of animal models for clinical trials of vaccines and drugs.
Contract research organizations (CRO) end-use segment in the animal model market accounted for USD 1,111 million in 2019. The CROs are preferred for customized research by the pharmaceutical companies as these companies outsource their research activities to contract research organizations in order to reduce the production cost and time. Thus, the adoption of animal models by CROs is increasing at a moderate pace. CROs offer services supporting the process of veterinary drug discovery in veterinary pharmaceutical companies such as clinical trials and toxicology studies.
The South Korea animal model market size is poised to expand at more than 10.7% CAGR during 2020 to 2026 on account of rising cosmetic surgeries and several other therapies being adopted by the people. Thus, the need to test the safety and efficacy of cosmetic drugs has led to increase in adoption and demand for animal models by the research institutions in the country. The increasing investment in the healthcare sector is also driving the demand for animal models. Growing focus towards medical research in the country will further boost the demand for animal models.
Some of the major players operational in the animal model market are Charles River, Envigo, genOway, Harbour BioMed, Janvier Labs, Horizon Discovery Group plc, The Jackson Laboratory and Taconic Biosciences Inc. among others. These companies have implemented several strategic initiatives such as acquisitions and product launches to maintain competitive edge in the market.
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Table of Contents (ToC) of the report:
Chapter 3 Animal Model Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2015 - 2026
3.3 Industry impact factors
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.5 COVID-19 impact analysis
3.6 Regulatory landscape
3.7 Pricing analysis
3.8 Porter's analysis
3.9 Competitive landscape, 2019
3.9.1 Competitive matrix analysis
3.10 PESTEL analysis
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Animal Model Market Growth Predicted at 7.5% Through 2026: GMI
Some of the major animal model market players include Charles River, Envigo, genOway, Harbour BioMed, Janvier Labs, Horizon Discovery Group plc, The Jackson Laboratory and Taconic Biosciences Inc.
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SOURCE Global Market Insights, Inc.
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