New Biotechnology research report from Markets and Markets is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 01/20/2014 -- Over the years, the mice model market, which includes models and services, has witnessed many innovations that have led to an increase in the application areas of mice models. For instance, mice models are widely used in preclinical research in a number of academic institutions all around the world and also in various industries including pharmaceutical, biotechnology, biopharmaceutical, medical research, biomedical research, and others.
The inbred mice market is the fastest-growing segment of the mice model market. The rapid growth of this market is attributed to their ability to reproduce the same results in different laboratories over a period of time. However, the knockout mice model market is the fastest-growing market due to the increase in the number of investments in the development of knockout mice models. One of the major investments includes $110 million by the National Institutes of Health (NIH) (U.S.) for a period of five years to initiate the second phase of the Knockout Mouse Project (KOMP2) in September 2011.
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In the mice model services market, the breeding market is expected to grow at the highest CAGR. This is due to the increase in the production of mice as well as the increase in use of mice by companies, which has increased the need to manage the breeding of these mice in an effective manner. Thus, the growing market for mice models is likely to boost the market for breeding services.
In the coming years, the growth of the mice model market is likely to be focused on China, India, Japan, Brazil, and Mexico. These countries offer a wide array of opportunities for growth and are likely to serve as revenue pockets for the mice model market. All these countries offer high-growth potential as compared to mature markets such as the U.S. and U.K.
Growth in these markets is spurred by the growing R&D activities in China, Japan, Brazil, and Singapore. In addition to this, the Asian countries have low presence of animal welfare activities conducted by animal activists and thus are potential regions to outsource animal models and allied animal testing services. Thus, the Asian region is more adaptive and business friendly due to the comparatively less stringent regulations. This has led to an increase in R&D activities in this region. The region is a hub for preclinical trials and has witnessed a high growth in the CRO industry in China, India, Korea, and Taiwan. According to ClinicalTrials.gov, the number of clinical trials conducted in India was 40 to 50 in 2003, which increased to 270 by 2007. China, on the other hand, surpassed India and showcased 428 ongoing trials in 2008 and a total of 870 trials (including completed and ongoing) as compared to 737 trials in India by 2008. Additionally, clinical trials are expected to be up to 50% cheaper in India compared to the U.S. Thus, the growth in R&D activities is propelling the demand for mice models.
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