Animal Model Market worth USD 2,676.8 million by 2030

The Market Statsville Group (MSG) publishes the new report on the "Animal Model Market by Animal Type (Mice, Guinea Pigs, Rat, Rabbits, and Others), by Application (Drug Discovery & Development, Basic Research, and Others), by End-Users (Pharma & Biotech Companies, Academic Research Institutes, and Others), by Region – Global Share and Forecast to 2030".

The global animal model market size is expected to grow from USD 1,577.3 million in 2021 to USD 2,676.8 million by 2030, at a CAGR of 6.1% during the forecast period. Animal models are the animals used to perform and test pathological and biological experiments. Animal models are used because animals and humans have many of the same physiological and organic structures. Furthermore, some animal species have a genetic structure that is nearly identical to that of humans. Scientists and researchers use animal models to study and find cures for diseases, test final medicinal drugs before they are used on humans, and develop new products. Before being tested in humans, new drugs are tested in animals to ensure their safety and efficacy. Animal models are also used in drug discovery and development, basic research, and other fields.

Global Animal Model Market Segmentation Research Report

The overall animal model market has been segmented into the animal type, a, and region.

• By Animal Type (Mice, Guinea Pigs, Rat, Rabbits, and Others)
• By Application (Drug Discovery & Development, Basic Research, and Others)
• By End-Users (Pharma & Biotech Companies, Academic Research Institutes, and Others)
• By Region (North America, Europe, Asia-Pacific, South America, and the Middle East & Africa)

Drug discovery & development, by application, hold the largest market share

Based on application, the global animal model market is segmented into drug discovery & development, basic research, and others. The drug discovery & development segment generated the highest revenue of 72.6% of the total global animal model market in 2021, and it is expected to register a significant CAGR from 2022 to 2030. A wide range of animal models are used in drug discovery & development, such as the rat, mice, guinea pigs, rabbits, and others. These animal types have been used to get knowledge of diseases, test new medicinal drugs, and assure their safety and efficacy before going into the clinical phases with human subjects.

Increased use of animal models in drug discovery and development, as well as pharmaceutical and biotechnology companies' production of novel products and preclinical activities. The major factor driving the market's growth is toxicity testing during drug development. The market is being driven by an increase in the use of animal models in drug discovery and development, as well as the production of novel products by pharmaceutical and biotechnology companies, as well as an increase in preclinical activities and toxicity testing during drug development.

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North America accounts for the largest market share in the animal model market

The report segments the global animal model market based on the five key regions: North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, North America accounted for the highest market share of 39.5% in the global animal model market and was anticipated to maintain its dominance throughout the forecast period. The three major nations of North America considered in the report include the U.S., Canada, and Mexico.

This is majorly attributed to rise in use of animal models in biomedical research, neurological research, genetic research, toxicology, cancer research, physiology, & xenotransplantation, development in CRISPR technology as a powerful tool in the field of biomedical research, and availability of animal models for R&D. For instance, the National Swine Resource and Research Center (NSRRC) located in the U.S. offers high-quality biomedical pig models for research activity. Implementation of favorable government initiatives and surge in collaborations and agreements for animal models drive the growth of the market. For instance, in 2020, Taconic Biosciences entered into an agreement with the University of Texas Medical to distribute humanized ACE2 mice models for COVID-19 research.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the animal model market. It also consists of the profiles of leading companies such as Eurofins Scientific SE, Envigo, GenOway S.A., JSR Corporation (Crown Bioscience Inc.), Charles River Laboratories International, Inc, Ozgene Pty Ltd., PerkinElmer, Inc. (Horizon Discovery Group plc.), Taconic Biosciences, Hera BioLabs (Transposagen Biopharmaceuticals), and The Jackson Laboratory. These market players have focused on acquisitions and expansion to gain a larger market share in the animal model market.

Browse complete report: https://www.marketstatsville.com/animal-model-market

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