Global Market for Laboratory Animal Models to Top $7 Billion by 2023
Strong Growth Predicted for Both Animal Models and 3D Cultures
WELLESLEY, Mass., March 20, 2019 (Newswire.com) - A new report from BCC Research, “Laboratory Animal Models, 3D Cultures, and Organoids,” predicts that by 2023, the global market for laboratory animal models is estimated to reach $7.8 billion, up from $5.9 billion in 2018, indicating a compound annual growth rate (CAGR) of 5.6 percent.
The current market and technology environment are at a point where the established laboratory animal model industry is facing the newly emerging adoption of 3D cell culture systems and their applications. This new momentum has driven personalization and the need to obtain results quickly, animal models’ inability to provide a personalized approach to patients and the need for faster and more reliable screening at a favorable price.
- Market trend analysis. There are two opposing trends in the use of laboratory animal models: Firstly, an attempt to reduce the overall number of animals used in the laboratory and secondly, a technological shift to genetically engineered animals.
- Market segment analysis. The global market for laboratory mice as an animal model is estimated to grow from $2.7 billion in 2018 to over $3.4 billion by 2023.
- Geographic market analysis. The two largest markets for animal models are the Asia-Pacific (APAC) region and the North American region, with the U.S. in the dominant position. The European region shows slower growth.
“Animal models will continue to be used steadily. Basic research relies on animal research and will continue to do so,” says BCC Research analyst Martin Kubeš. “3D cell cultures are expected to be used increasingly in laboratories as well as in the R&D processes of large pharmaceutical companies. The use of 3D cell cultures will complement animal model usage.”
Animal Model End-Users
The largest group of end users for end-models include the academic sector, biomedical industry research and the cosmetics industry. For 3D cell cultures, the largest end-user groups include basic research, biomedical and pharma companies, regulatory bodies and the cosmetics industry.
Editors/reporters requesting analyst interviews should contact Eric Surber at email@example.com.
Source: BCC Research