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Mice Model Market to Reach US$1.75 Bn by 2023 due to Rising Investments in Biomedical Research: Transparency Market Research

Albany, NY, March 10, 2016 (GLOBE NEWSWIRE) -- A new Transparency Market Research report states that the mice model market stood at US$1.01 bn in 2013 and is anticipated to reach US$1.75 bn by 2023. The market is therefore, expected to expand at a CAGR of 6.40% from 2015 to 2023. The title of the report is “Mice Model Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023”.

Mice models have long been the backbone of fundamental and applied research in life sciences and continues to grow at a rapid rate. The mice model market has transformed since 2001, the year rodent genome was mapped. Mice models have a wide array of applications such as basic research, developing new therapeutic strategies for the treatment of human diseases, drug discovery and development research (such as target characterization, drug screening, and toxicity and safety evaluation), and preclinical studies of drug efficacy. Hundreds of mice models have been developed to study diseases such as cancer, Huntington’s, Parkinson’s, Duchenne and Becker muscular dystrophy, and amyotrophic lateral sclerosis (ALS). In the last 25 years, around 80% of discoveries in the biomedical research has been linked to research on mice.

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As per the report, the prime factor stimulating the growth of the mice model market is the increasing applications of mice models in the applied field of drug discovery and development, apart from the basic research wherein it is already largely employed. In addition, the rising investments within biomedical research has also fuelled the market. However, the key factors inhibiting the growth of the market include the globally rising concern on the cruelty imposed on animals, ethical factors, and the penetration of alternative technologies.

On the basis of type, the mice model market is segmented into transgenic mice model, knockout mice model, hybrid/congenic mice model, outbred mice model, carcinogen-induced and spontaneous mice model, inbred mice model, outbred mice model, conditioned/surgically modified mice model, and transplantation mice model. Amongst these, in 2014, inbred stood as the biggest segment in the market owing to a number of advantages including data reproducibility and cost-effectiveness. On the other hand, the congenic/hybrid segment is predicted to rise at the fastest CAGR in the forecast horizon owing to their rising applications in oncology, cardiovascular studies, and immunology.

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On the basis of specialty, the mice model market is segmented into immunology, oncology, central nervous system, diabetes, cardiovascular, and metabolism and regulation. Amongst these specialty segments, in 2014 the metabolic and regulatory diseases segment was the biggest segment in the market, accounting for 29.6% of the market in the same year on the basis of revenue. The diabetes mice model specialty segment is anticipated to rise at the highest growth rate owing to increasing occurrence of diabetes worldwide, especially in emerging countries.

On the basis of services, the global mice model market is segmented into cryopreservation and cryorecovery services, breeding and rederivation services, genetic testing services, quarantine services, in vivo and in vitro pharmacology services, model in-licensing services, genetically engineered model services, and other services including line rescue and surgical. The segment of cryopreservation and cryorecovery services will exponentially growth in the forecast horizon since these service require less investment for maintaining mice strain for a longer duration of time.

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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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Source:Transparency Market Research