Portland, OR, July 15, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Animal Model Market was estimated at $1.46 billion in 2020, and is anticipated to hit $2.67 billion by 2030, registering a CAGR of 6.1% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Increase in usage of animal models in virology and infectious diseases, rise in adoption of CRISPR technology, and upsurge in likelihood of epidemic or pandemic outbreaks fuel the growth of the global animal model market. On the other hand, regulations and laws for ethical use of animals in research impede the growth to some extent. However, several growth opportunities in the emerging markets have proved to be beneficial for the market.
Covid-19 scenario-
- The outbreak of the pandemic led to increase in demand for large number of animal models, due to surge in R&D activities related to vaccines and antiviral drugs.
- This trend is expected to persist in order to verify the safety & efficacy of new entities before going for human trials.
The global animal model market report is analyzed across animal type, application, end user, and region. Based on application, the drug discovery and development segment accounted for nearly three-fourths of the total market share in 2020, and is expected to dominate by 2030. The same segment is also expected to register the fastest CAGR of 6.6% throughout the forecast period.
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Based on end user, the pharma and biotech companies segment contributed to around two-thirds of the total market revenue in in 2020, and is projected to rule the roost by the end of 2030. The same segment would also grow at the fastest CAGR of 6.7% from 2021-2030.
Based on region, North America held the major share in 2020, garnering nearly two-fifths of the global animal model market. The market across Asia-Pacific, on the other hand, would cite the fastest CAGR of 7.3% during the forecast period.
The key market players analyzed in the global animal model market report include Envigo, Eurofins Scientific SE, GenOway S.A., JSR Corporation (Crown Bioscience Inc.), Charles River Laboratories International, Inc, Hera BioLabs (Transposagen Biopharmaceuticals), Ozgene Pty Ltd., PerkinElmer, Inc. (Horizon Discovery Group plc.), Taconic Biosciences, The Jackson Laboratory. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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