A recent report compiled by Fact.MR projects the animal model market to register an impressive CAGR of over 6.0% during the period of forecast, 2017 to 2026. The healthcare sector is seen harnessing animal models, owing to which the demand for animal model is surging in the healthcare sector. The animal model is expected to outpace its alternatives such as tissues cultures and computer models as the living systems are pretty complex to further become a prime choice for biomedical research.
With the rapid developmentes in the healthcare industry to arrest the prevalence of chronic diseases, there is an ever-increasing need for conducting research to deliver the best medicines and drugs. This is expected to be a key growth influencer of the animal model market. Use of animal model in biomedical research has observed a rapid rise as it helps in the development of new treatment methods for new and chronic diseases, and understand the potency of drugs with regard to the pervasive diseases.
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Developing Regions to Overpower Developed Ones With Regard to Demand
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.
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Growing Need for Fulfilling Unmet Demand
The surging application of animal species to develop various novel therapy is foreseen to fortify growth of animal model market. 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.
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.
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.
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