Animal Model Market Overview
The animal models are living species that are used in medical investigations and research. There is a large similarity between humans’ genetics, physiology, and anatomy. The animal model market size is expected to hold a value of USD 3,632.48 Million by 2027. The market has projected to register a CAGR of 7.8% from 2020 to 2027, says Market Research Future (MRFR). There is a large number of market drivers who are responsible for the huge rise in the research and development field. The animals have a shorter life cycle in terms of biological and physiological structures.
There are multiple reasons for the growth of the animal model market during the forecast period. Some market restraints try hard to lower the market gross due to the effective steps taken by the government and the key players of the market. Multiple issues cause challenges during the ongoing forecast period. The pandemic has hit hard to the global boundaries. After a pandemic, there are certain changes in the market.
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The animals are struggling because of the lack of healthcare facilities and infrastructure. The lockdown imposed by the global governments also hit the animal model market and also impacted the life of skilled labor and professionals. The global governments have been increasing their support in terms of collaborations, mergers, acquisitions, and joint ventures. The market players are likely to develop and launch new products that will help in benefiting the global target audience.
Animal Model Market Segment
The animal model market is segmented into different segments, which are further segmented into different parts. The market has been segmented into animal types are cats, monkeys, pigs, and mice, amongst others. Along with that, the application segment is segmented into academics, production, quality control, research, development, and others. The animal model market is also segmented into the technological type. As per the geographical region, the market share is divided into 4 major regions: North America, Europe, the APAC region, and the rest of the world.
Animal Model Market Regional Analysis
The market is divided into certain regions and target audiences based on the regional analysis. It is divided into Europe, North America, APAC region, and ROW by region. Among all the regions, global growth is likely to be dominated by the North American region. In Asian countries, the market is also segmented, which raises awareness and funding plans. There are certainly key players in the market who take appropriate steps to enhance the animal model market value.
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The IGM Biosciences has entered into a 2 year long agreement which plays a major role in the IGMs novel therapeutic IgM antibodies in the year 2021 April. After this step, there are certain beneficial changes happen in the animal model market. Along with that, the Horizon Discovery Group Plc. is also making a niche for itself for the gene editing and modulation of cell line engineering. The company made another collaboration with Mammoth Bioscience, which was announced with the additional license agreement. The major aim behind this was to access the company’s platform and facilitate the production of biotherapeutics.
Animal Model Market Competitive Analysis
Global animal model market key players are
- Charles River Laboratories (UK)
- Taconic Laboratories (UK)
- Transgenic, Inc. (Japan)
- Janvier Labs (France)
- GenOway S.A. (France)
- Envigo (US)
- SAGE Labs (US)
- Horizon Discovery (England)
- Crown Bioscience Inc. (US)
- Harbor Antibodies
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