Albany, NY, April 19, 2016 (GLOBE NEWSWIRE) -- Mice have always been considered a preferred model for biological studies as the mouse is a mammal carrying significant genetic resources and sophisticated genetic tools. Since ancient times, researchers and scientists have been experimenting on mice to study new medicines and treatments. The global mice model market is expected to develop rapidly during the forecast period due to the increasing use of mice as the primary mammal or model for drug discovery procedures. The global mice model market is segmented on the basis of geography, services, model types, and applications.
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The global mice model market was valued at USD 1,008.1 million in 2014 and is projected to reach USD 1,749.3 million in 2023, expanding at a CAGR of 6.4% from 2015 to 2023. Major factor boosting the growth of the market is the growing application of mice models not only in the field of basic research, but also in applied field of drug development and discovery. Development of mice models of human diseases has progressed rapidly in the past few years. Mice model has become indispensable in the evaluation of established and experimental treatment strategies, especially in cancer, cardiovascular diseases, metabolic anomalies, and neurological disorders.
Mice model applications in drug discovery include development of new therapeutic strategies for the treatment of human diseases, target identification and validation, drug screening and lead optimization, and toxicity and safety screening. Furthermore, advancements in genetic engineering assisting in evaluating drug mechanism of action and its responses are expected to impact the growth of the drug discovery market. On the other hand, factors such as stringent regulatory framework that require precise control on use of animals in laboratories, rising concern on animal cruelty, and ethical concerns over the use of animals could negatively impact market growth.
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Based on geography, the mice model market has been segmented into North America, Europe, Asia Pacific, Latin America, MENA, and Rest of the World (RoW). North America was the largest market for mice model in 2014. Ongoing robust research activities for the development of drugs and biologics and presence of major pharmaceutical and biotechnology companies in the region are some of the factors responsible for the dominance of the region. Europe held the second largest share of the global mice model market in terms of revenue in 2014. Asia Pacific is expected to be the fastest growing market for mice model during the forecast period from 2015 to 2023.
The market in MENA, Rest of the World (RoW) and Latin America would also grow significantly due to increasing public and private investment in biomedical researches. In addition, factors such as improving health care infrastructure, rising awareness, and flexible regulatory requirements in the region are driving the mice model market.
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The report also provides important recommendations for market players and new entrants. These recommendations would enable existing market players to expand their market share and help new companies establish their presence in the mice model market across the globe. The report concludes with the company profiles section, which includes key information about major players in the market such as financial overview, business strategies, and recent developments. Key players mentioned in the report include Charles River Laboratories, Crescendo Biologics Limited, Deltagen, Inc., GenOway S.A., Harlan Laboratories, Inc., ImmunoGenes AG, Taconic Biosciences, Inc., Lexicon Pharmaceuticals, SAGE Labs, The Jackson Laboratory, Taconic Biosciences, Inc., and TransGenic, Inc.
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