Mice Model Market Estimated to Accumulate more than US$1.79 bn by 2023

A new Transparency Market Research report states that the mice model market stood at US$1.01 bn in 2013 and is anticipated to reach US$1.75 bn by 2023. The market is therefore, expected to expand at a CAGR of 6.40% from 2015 to 2023. The title of the report is “Mice Model Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023”.

As per the report, the prime factor stimulating the growth of the mice model market is the increasing applications of mice models in the applied field of drug discovery and development, apart from the basic research wherein it is already largely employed. In addition, the rising investments within biomedical research has also fuelled the market. However, the key factors inhibiting the growth of the market include the globally rising concern on the cruelty imposed on animals, ethical factors, and the penetration of alternative technologies.

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On the basis of type, the mice model market is segmented into transgenic mice model, knockout mice model, hybrid/congenic mice model, outbred mice model, carcinogen-induced and spontaneous mice model, inbred mice model, outbred mice model, conditioned/surgically modified mice model, and transplantation mice model. Amongst these, in 2014, inbred stood as the biggest segment in the market owing to a number of advantages including data reproducibility and cost-effectiveness. On the other hand, the congenic/hybrid segment is predicted to rise at the fastest CAGR in the forecast horizon owing to their rising applications in oncology, cardiovascular studies, and immunology.

On the basis of specialty, the mice model market is segmented into immunology, oncology, central nervous system, diabetes, cardiovascular, and metabolism and regulation. Amongst these specialty segments, in 2014 the metabolic and regulatory diseases segment was the biggest segment in the market, accounting for 29.6% of the market in the same year on the basis of revenue. The diabetes mice model specialty segment is anticipated to rise at the highest growth rate owing to increasing occurrence of diabetes worldwide, especially in emerging countries.

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On the basis of services, the global mice model market is segmented into cryopreservation and cryorecovery services, breeding and rederivation services, genetic testing services, quarantine services, in vivo and in vitro pharmacology services, model in-licensing services, genetically engineered model services, and other services including line rescue and surgical. The segment of cryopreservation and cryorecovery services will exponentially growth in the forecast horizon since these service require less investment for maintaining mice strain for a longer duration of time.

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On the basis of geography, the global mice model market is segmented into Asia Pacific, North America, Europe, MENA, Latin America, and Rest of the World (RoW). In 2014, North America held the biggest share of the market due to the presence of prominent biotechnology and pharmaceutical companies and the booming activities of research for the development of biologics and drugs in this region. On the other hand, Europe trailed North America and represented the second-biggest share of the market on the basis of revenue in the same year. Asia Pacific is poised to emerge as the most swiftly developing market in the forecast horizon.

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Crescendo Biologics Limited, Charles River Laboratories, Deltagen, Inc., Harlan Laboratories, Inc., ImmunoGenes AG, SAGE Labs, The Jackson Laboratory, and TransGenic, Inc., among others, are the major players dominant in the market, as per the report.

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This release was published on openPR.