DUBLIN, Oct. 7, 2022 /PRNewswire/ -- The "Animal Model Market, By Species, By Application, By End-use, and By Region Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global animal model market size is expected to reach USD 2.63 Billion in 2030 and register a revenue CAGR of 6.2% over the forecast period, according to latest report. The surge in research & development activities related to precision medicine is the major factor driving the growth of animal model market.
The increase in funding for research & development (R&D) activities by government bodies and private organizations, and the growing demand for personalized medicine are expected to drive the growth of the animal model market. However, ethical concerns related to animal testing and stringent government regulations are expected to restraint the growth of this market during the forecast period.
For instance, as per the National Science Foundation, U.S., R&D expenditure was USD 616.7 Billion in 2017 and is expected to grow at a CAGR of 4.5% from 2018 to 2025.According to the National Institute of Health, U.S., over 1,800 new drugs were under clinical trials in 2016 and the number is projected to grow in coming years owing to government initiatives to promote research & development activities in the country. Moreover, growing biotechnology and pharmaceutical industries in Asia Pacific region is projected to create lucrative opportunities for market players over the forecast period.
Demand for mice models is rising to avoid risking human lives for clinical trials, as well as to lower research and development costs. The global animal model market is growing due to the mounting pressures on the pharmaceutical and biotechnology industries to reduce drug development timelines and the costs associated with these endeavors.
Animal models are playing an increasingly important role in the development of new drugs and therapies. In particular, mice models are in high demand due to their similarity to humans in terms of genetics and physiology.
For the purpose of this report, the author has segmented the global animal model market based on species, application, end-use, and region: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)
Regional Outlook (Revenue, USD Billion; 2019-2030)
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Animal Model Market Segmentation & Impact Analysis
Chapter 5. Animal Model Market By Species Insights & Trends
Chapter 6. Animal Model Market By Application Insights & Trends
Chapter 7. Animal Model Market By End-use Insights & Trends
Chapter 8. Animal Model Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
Charles River Laboratories International Inc.
The Jackson Laboratory
Laboratory Corporation of America Holdings
Horizon Discovery Group plc
Trans Genic Inc.
Taconic Biosciences Inc.
Ingenious Targeting Laboratory (Ingenious).
For more information about this report visit https://www.researchandmarkets.com/r/4nny5p
Research and Markets
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SOURCE Research and Markets