Animal Model Market Outlook Highlights Major Opportunities Likely to Steer Demand During Forecast Period | Key Players - Genoway SA, Eurofins Scientific SE, Crown Bioscience, Envigo CRS SA, and Transposagen Biopharmaceuticals
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The Asian territory is on the verge of evolving as the next big destination for animal models. This growth can be attributed to various factors such as American and European pharmaceutical companies diversifying their research activities to curtail extra expenses and save costs. Although U.S and Europe have retained their legacy in the global market, their share has been witnessing a drastic downfall in the last few years due to APAC picking up the pace. Among all the Asian countries, China, India, Malaysia, and Singapore are anticipated to record robust demand, with China accounting for a major chunk of demand. While the popularity of inbred animals is picking up the steam, transgenic animals are also gathering significant momentum with rising preferences for super-immunodeficient and humanized animal models. Academic labs in China are poised to receive notable extent of governmental encouragement for medical research, standing out as one of the predominant factors pushing demand in the China animal model market.
Growing Need for Fulfilling Unmet Demand
The surging application of animal species to develop various novel therapy is foreseen to fortify animal model market growth. Furthermore, escalating need for more novel drugs for catering the huge unmet demand is estimated to be a preeminent factor boosting demand. Multiplying prevalence of genetic disorders globally and evolving research field are poised to be the key growth determinants of the market. In addition, deployment of animal model for carrying out multiple studies of disease and human physiology is another chief factor bolstering growth of the market. However, facets such as high costs of the study and stringent regulatory framework is likely to restrict the market growth to a certain extent. In addition to that, rise pace of preclinical studies for therapeutic approvals and striking investments in R&D by key pharmaceutical companies are also some of the pivotal factors spurring market growth.
Vaccine Testing and Development to Necessitate Use of Animal Models
The upgradation of human vaccines relies on animal models by a large extent. Several regulatory authorities make it compulsory for novel vaccine candidates to go through preclinical tests in animal models before being eligible for clinical experiments in human subjects. A noteworthy progress in reduction and replacement of animals has been witnessed in the recent years with the help of computational biology and bioinformatics methodologies for developing novel vaccine candidates. In spite of that, the major reason of employing a vaccine is to guide the immune system to identify pathogens and elicit subsequent response. With rising call for vaccine testing and development is paving grounds for animal model demand, thereby raising market growth to the next level. Moreover, animal models are being extensively used in biomedical research for synthesizing new therapy methods to treat diseases. An objective of grasping a better understanding of a disease, which also helps in faster understanding of the drug efficacy.
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Animal Model Market- Segmentation
Market prognosis of animal model market has been provided by discussing about pertinent segments such as species, application, end user, and region. Various types of species such as rats, mice, guinea pig, rabbits, monkeys, dogs, pigs, cats, and other species have been closely analyzed in this report. Application of animal model market across areas such as basic & applied research and drug discovery/development have also been closely studied and well- articulated in the report.
Moreover, end user segments such as academic & research institutions, pharmaceutical companies, biotechnology companies, contract research organizations (CROs), and other end users have also been scrutinized and highlighted in the report. This exhaustive research report tracks the animal model market across primary regional segments such as North America, Latin America, Europe, South Korea, APAC, and Middle East & Africa (MEA). Along with global, the report also sheds light on an exclusive coverage on the regional dynamics of the market.
The report has featured major players operating in the market who are remarkably contributing to the overall market growth. The key players listed in the market include Genoway SA, Eurofins Scientific SE, Crown Bioscience, Inc., Envigo CRS SA, and Transposagen Biopharmaceuticals, Inc. These players are indulging in acquisitions, mergers, and takeovers to amplify their reach. These players are also resorting to brand new product fortification strategies for strengthening their foothold in the global market.
Besides the forenamed players, the report also features an exclusive outlook of other renowned companies operating in the animal model market.
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