Global animal model market to reach $2.67 billion by 2030: Allied Market Research

Animal models in virology and infectious diseases, increase in adoption of CRISPR technology and the growth of the global animal model market.

PORTLAND, OREGON, US, November 18, 2021 /EINPresswire.com/ — As per the report published by Allied Market Research, the global animal model market generated $1.46 billion in 2020, and is anticipated to reach $2.67 billion by 2030, manifesting a CAGR of 6.1% from 2021 to 2030. The report provides a detailed analysis of major investment pockets, drivers & opportunities, key segments, competitive landscape, and key players.

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Onkar Sumant, Manager, Healthcare at Allied Market Research stated, "The growth of the global animal model market is propelled by increase in usage of animal models in the pre-clinical development by research laboratories around the world. Moreover, rise in innovations in animal models and increase in the importance of genetics in biomedical studies are the key factors that add to the growth of the market."

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COVID-19 pandemic scenario:
• The outbreak of the COVID-19 pandemic led to a surge in the demand for a large number of animal models, due to an increase in R&D activities related to vaccines and antiviral drugs.
• This trend is anticipated to persist in order to confirm the safety & efficiency of new entities before going for human trials.

Factors such as increase in the use of animal models in virology and infectious diseases, surge in adoption of CRISPR technology, and rise in the possibility of epidemic or pandemic outbreaks in the world are expected to boost the global animal model market. On the other hand, guidelines and regulations for the ethical use of animals in research activities are expected to hinder the market growth. However, opportunities in emerging markets will open many doors of growth to the market players.

The animal model market is segmented on the basis of application, animal type, end-user, and region.

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Based on application, the drug discovery and development segment contributed to nearly three-fourths of the total market share in 2020, and is anticipated to lead by 2030. The same segment is also projected to exhibit the fastest CAGR of 6.6% from 2021 to 2030.

Based on end user, the pharma and biotech companies segment accounted for around two-thirds of the total market revenue in 2020, and is anticipated to rule the market by the end of 2030. The same segment is expected to manifest the fastest CAGR of 6.7% from 2021-2030.

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Based on region, North America held the major share in 2020, contributing to nearly two-fifths of the global animal model market share. Asia-Pacific, on the other hand, would exhibit the fastest CAGR of 7.3% during the forecast period.

Key leading players of the global animal model market include Eurofins Scientific SE, Envigo, GenOway S.A., Charles River Laboratories International, Inc, Hera BioLabs (Transposagen Biopharmaceuticals), JSR Corporation (Crown Bioscience Inc.), PerkinElmer, Inc. (Horizon Discovery Group plc.), Ozgene Pty Ltd., Taconic Biosciences, and The Jackson Laboratory.

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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

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Source: EIN Presswire