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Laboratory Animal Models Market Size, Type, segmentation, growth and forecast 2023-2030

Laboratory Animal Models Market

The Laboratory Animal Models Market is expected to grow from USD 2.50 Billion in 2022 to USD 5.80 Billion by 2030, at a CAGR of 11.10% during the forecast period.

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Laboratory Animal Models Market Size

Laboratory Animal Models are animals that are used in scientific experiments for research and development purposes. These animal models are usually rats, mice, rabbit, fish, or others, based on the type of experiment. The demand for these animal models is increasing, particularly in academic and research institutes, pharmaceutical and biotech companies, and other industry verticals. North America, Asia Pacific, Middle East, Africa, Australia, and Europe are the major regions where the market is focused. Charles River Laboratories, Envigo, Taconic Biosciences, Jackson Laboratory, Shanghai SLAC, Joinn Laboratories, Crown Biosciences, Pharmalegacy, Syngene International, Janvier Labs, GenOway, Shanghai Modelorg, Psychogenics, Horizon Discovery Group, and Vitalstar Biotechnology are the leading players in the market. Regulatory and legal factors specific to the market conditions play a crucial role in the growth of this market. Stringent regulatory approvals and ethical issues related to animal testing are the major challenges faced by the market players. However, advancements in technology and the increasing focus on personalized medicine are expected to fuel the growth of the market in the forecast period.

Laboratory Animal Models Market Key Player

Charles River Laboratories

Envigo

Taconic Biosciences

Jackson Laboratory

Shanghai SLAC

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Laboratory Animal Models Market Segment Analysis

The laboratory animal models target market is comprised of biopharmaceutical companies, academic and research institutions, government agencies, and contract research organizations that require animal models for research and development purposes. The major factors driving revenue growth in this market include the increasing prevalence of various diseases, growing demand for personalized medicine, advancements in genetic engineering techniques, and rising investments in research and development activities.

One of the latest trends observed in the Laboratory Animal Models market is the use of humanized mice models, which are genetically engineered to express human genes or tissues, providing a more accurate representation of human biology. This trend is driven by a growing demand for more effective and efficient drug development processes that can better predict human response to drugs.

The major challenges faced by the Laboratory Animal Models market include ethical concerns regarding animal testing and increasing regulations governing the use of animals for scientific research purposes. In addition, the high costs associated with animal maintenance and the complexity of animal models pose significant challenges for researchers.

The report's main findings indicate that the global laboratory animal models market size is expected to reach USD 3.0 billion by 2027, growing at a CAGR of 8.5% during the forecast period. The mice model segment holds the largest market share due to their widespread use in various research applications. The Asia Pacific region is expected to grow at the highest CAGR due to increasing investments in research and development activities and a growing focus on personalized medicine.

The report's recommendations include developing more innovative and efficient animal models, increasing collaboration between academic research institutions and biopharmaceutical companies to accelerate drug development processes, and identifying strategies to mitigate the ethical concerns surrounding animal testing. Overall, the Laboratory Animal Models market is expected to continue its growth trajectory in the coming years, driven by increasing investments in research and development activities and a rising demand for personalized medicine.

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Market Segmentation (by Application):

Academic & Research Institutes

Pharmaceutical & Biotechnology Companies

Other

Information is sourced from www.reportprime.com

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