Mice Model Market to fetch a value of US$1.79 Bn by 2023
The global was earlier dominated by a handful of players, but now depicts a vendor landscape with gradually intensifying competition, says Transparency Market Research on the basis of a newly published report. Such a rapid progress showcased by the competitive landscape is mainly due to the new players foraying in the market on a regular basis. Most players are focusing on expanding product portfolios, bringing forth geographical expansion, and focusing on extensive research and innovation.
Currently, Harlan Laboratories, Inc., Charles River Laboratories, Deltagen, Inc., Crescendo Biologics Limited, and GenOway S.A., are key players operating in the global mice model market. With a growing number of regional players, the international businesses are facing a lot of competitive heat during recent times. Gaining a competitive advantage over their rivals is a prime strategy implemented by most players present in the global mice model market.
From a statistical perspective, the global mice model market is expected to fetch a value of US$1.79 bn by the end of 2023. Out of the total market shares, about 44.9% are anticipated to be held by North America by the end of the forecast period. A positive growth is also expected to occur in Europe and Asia Pacific owing to widespread advancements taking place in the field of medicine.
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Mice models find extensive application in study of several diseases such as Alzheimer’s, Motor Neuron, Dementia, and others. This is mainly due to the genetically similarity of mice as compared to that of humans, which simplifies the working of a disease on a genetic level. With a rise in the number of these diseases, their study too has progressed extensively, consequently driving the global mice model market.
Apart from the field of diseases, new mice models are gradually witnessing an expansion in their scope with regards to other medical research fields too. This is one of the most prime factors driving the global mice model market. New mice models have also been found to be highly compatible for various medical studies, which make them preferred more than using other organism for studies. Such a high preference has also managed to make the global mice market pick up extensive pace.
However, numerous animal-friendly organizations are trying to discourage the use of lab rats and other organisms for medical tests and studies, which is notably hindering the global mice model market’s growth. This is majorly being done in order to eliminate animal use completely, thus reducing cruelty caused to them. Several alternatives are being encouraged for usage such as the Irritation Assay System, which mainly involves using human skin for testing effects of drugs and other substances. Use of computer-generated simulations also is another significant alternative that has been hampering the global mice model market too.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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