Preference for animal model research is witnessing a decline on account of growing concerns about animal welfare
Albany, NY -- (SBWIRE) -- 06/29/2018 -- A new detailed study titled "Animal Model Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2026)" has recently been submitted to the repository of Market Research Reports Search Engine (MRRSE). According to the business intelligence study, the global animal model market is likely to grow at 6.4% CAGR through 2025. According to the research study, the animal model market is likely to reach a valuation of US$ 2 Bn by the end of the forecast period.
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According to the report, preference for animal model research is witnessing a decline on account of growing concerns about animal welfare. Also, the effectiveness of animal models for research has also led manufacturers to shift base to other research models. Although only 5% of drugs derived from animal models are suitable for humans, the animal model market is quite expansive as it has traditionally remained an important form of research.
In a bid to offer detailed insights and analysis on the animal model market, the report offers segment-wise analysis. The business intelligence study offers insights on the animal model market on the basis of end user market, application market, species and region. The end-user segment is further divided into academic & research institutions, bio companies, pharmaceutical companies, revenue and other end users. The application segment is bifurcated into basic and applied research and drug discovery/development. The species segment is categorized into mice, rabbits, dogs, rats, guinea pig, monkeys, cats, pigs and others species.
Geographically, the market is divided into key regions globally which are North America, South Korea, Latin America, APAC and Europe. According to the business intelligence study, North America will continue to be one of the leading markets for animal model globally. The North America animal model market remains concentrated in the US, however, of late, there has been a decline in market revenues owing to preference for other research techniques.
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The Asia Pacific animal model market is also likely to witness steady growth on account of growing investments in research and development in countries like China and India. Regions such as ASEAN are also emerging as lucrative markets for research and development, and growth in these markets is likely to provide an impetus to revenues during the assessment period.
The business intelligence study also analyzes the prevailing competitive landscape in the market. According to the research study, leading players in the animal model market are focusing on collaborating with universities and research institutes. Some of the leading players profiled in the research study include Charles River Laboratories International, Inc., The Jackson Laboratory, Trans Genic Inc, Horizon Discovery Group plc, Crown Bioscience, Inc., Taconic Biosciences, Inc., Genoway SA, Envigo CRS SA, Eurofins Scientific SE, and Transposagen Biopharmaceuticals, Inc.
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