With the rapid developments in the healthcare industry to arrest the prevalence of chronic diseases, there is an ever-increasing need for conducting 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 a rapid development in the development of new methods of treatment for new and chronic diseases, and understands the potential of drugs with regard to pervasive diseases.
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 alternative search as workers cultures and computer models.
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Viral epidemics seek as Zika and Ebola, which have significant prevalence in regions such as Africa and Latin America, have placed a significant burden on the healthcare sector. Lack of understanding about host immune factors that has outlined the development of effective treatment or vaccines. Effectiveness of animal models in developing and testing efficacy of vaccines and therapies, prior to their use in human candidates, is likely to augur well for the growth of the animal models market.
North America is expected to remain the largest market for animal models with revenues estimated to be over US $ 800 million. Considering the Asia-Pacific market for animal model, it accounts for a larger revenue share versus the market in Europe. CAGR, as compared to Latin America & Middle East & Africa (MEA) through 2026.
CAGR by the end of 2026. The largest share is contributed by Asia-Pacific region in rats market. However, dogs and pigs remain the least profitable species segments of the animal model market. Between basic and applied research and drug discovery model, the former is expected to register with the CAGR. However, drug discovery / development remains a lucrative application of the animal model.
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Sensing the surging growth in the application of animal model, key market players are contributing to the increasing implementation of animal model in drug development and research sectors. Eurofins Scientific SE is an analytical testing services provider for evaluating the safety, composition, authenticity, and purity of biological substances and products. Eurofin Advinus Company for the research and development of compounds in pharmaceuticals, biologics, agrochemical, and cosmetics. The company has indulged in mergers and acquisitions of laboratories and research institutes to further flourish their contribution to the growth of the animal model market. Additionally,
The spurring need for animal models, therefore, triggers the constant strategic advancements made by the market players to outgrow the rest, eventually fueling the expansion of the animal model market. Due to the continuing application of biomedical research as well as the increasing application of animal model in academic and research institutions, animal modeling is sure to grow undoubtedly.
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