Animal Model Market Synopsis
As per the analysis by Market Research Future (MRFR), the global animal model market is estimated to acquire a market value of USD 3,632.48 million, registering a CAGR of 7.8% during the forecast period by 2027. Animal models are primarily used to test the effectiveness of a drug for a particular disease condition on animals, such as; mice, rats, guinea pigs, and others.
Increasing innovation of new medicines and progressing pre-clinical trials are projected to be important factors in boosting the global animal model market 2020. Demand of experimental animals as models in research is predicted to grow due to their genetic similarities with humans, which is likely to stimulate the market significantly. Further, the increasing application of animal testing in the research of cosmetic products, cleaning products, pharmaceutical products, and others are anticipated to augment the market.
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