Animal Model Market Trends

Animal Model Market Trends

The increasing number of pharmaceutical research and development activities is anticipated to drive the market progress. Need for novel drugs to help meet the unmet medical requirements are amongst the key value drivers of research-based pharmaceutical & biotechnology companies. The pharmaceutical sector develops several novel drugs that offer valuable clinical benefits. The surging number of investments by government as well as private players are amongst the prime variables driving the number of pharmaceutical research and development activities.

For instance, according to the Congressional Budget Office, in 2019, the pharmaceutical sector spent USD 83 billion in R&D activities. These expenditures comprises a comprehensive spectrum of activities, such as discovering & testing novel medications and testing for safety-parameters or regulatory purposes.

Animal Model Market Restraint

Stringent regulatory guidelines for animal model usage are put in place to ensure the ethical and responsible use of animals in scientific research. A framework of stringent regulatory and strict guidelines exists to ensure animal welfare. These regulations are exhaustive and vary from country to country. Regulatory guidelines typically require researchers to demonstrate the scientific necessity and potential benefits of using animal models. Research proposals involving animal experimentation are subject to ethical review by institutional animal care and use committees (IACUCs) or similar regulatory bodies. These committees assess the justification, design, and welfare considerations of the proposed studies. Such stringent & variable regulations may hamper the use of animal models in biomedical research, thereby hindering the business expansion.