Ocean View, DE -- (SBWire) -- 04/01/2020 --Animal model market is witnessing significant demand on account of increasing development of novel vaccines as well as application across cancer research. Significant functional resemblance with humans has prompted the use animal models by researchers to study a wide range of disease mechanisms and assess novel therapies.
From ensuring drug safety & efficiency to understanding disease mechanisms, animal models are employed across all fields of biomedical research. Researchers worldwide are also using animal models in behavioral science and assessing food toxicity. With surging adoption across numerous research studies, Global Market Insights, Inc., estimates that the global animal model market may surpass $24 billion by 2025.
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Notably, companies like genOway, Horizon Discovery Group Plc, TRANS GENIC Inc., Ltd., Janvier Labs, The Jackson Laboratory, Harbor BioMed, Taconic Biosciences, Inc., Charles River, Envigo are currently at the forefront of the animal model industry. These companies are undertaking several inorganic and organic growth strategies like acquisition and mergers to enhance their product portfolio and geographic presence.
Mentioned below are the key trends that are likely to accelerate animal market model market share:
Burgeoning R&D activities worldwide
Animal models are widely used in the research and development sector to determine the safety of new drugs. Notably, biotechnology and pharmaceutical companies have been conducting research and development activities to roll out novel therapeutic treatments. Companies operating in pharma and healthcare sectors demand animal models to confirm the safety and efficiency of newly developed drugs.
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As per reports, in 2018, the research and development segment held for 72% of revenue share and was valued at approximately $9.7 billion. Introduction of therapeutic modalities prior to the commencement of human clinical trials have supported the adoption of animal models in R&D. Reportedly, around 3,000 animals are used for preclinical study and approximately 170 million animals are used for testing procedures worldwide. Surge in the number of preclinical trials in the biotech and pharma industry have further fueled the adoption of animal models worldwide.
Increasing adoption of mice models
Mice are considered as one of the most preferable mammalian models for carrying out various research studies that target diseases like cancer. Mice models are mostly used to understand the mechanism of such diseases. Researchers worldwide have been adopting mice models in cancer research due to their low-cost factors and widespread availability. Moreover, they are utilized to study several lifestyle and neurodegenerative disorders to assess the safety and effectiveness of drugs in the pharma research and development activities.
Accentuating demand from Canada
Canada is expected to offer lucrative growth opportunities to the animal model market on account of increasing number of animal models being used in the institution for research purposes. As per the Ottawa-based Canadian Council on Animal Care, in 2016, approximately 4.3 million animals were used in the institution for testing, research, and teaching purposes.
Moreover, the region has witnessed around 21% increment of animals compared to last year and a 50% surge in animals over the previous five years. Studies thereby suggest that Canada animal model market might record over 12% CAGR over the forecast period.
