According to the research literature titled ‘Animal Model Market Size By Animal Type (Mice, Rats, Fish, Birds, Cattles, Pigs, Amphibians, Guinea Pigs, Dogs, Cats, Rabbits, Monkeys, Sheep, Hamsters), By Technology (CRISPR, Microinjection, Embryonic Stem Cell Injection, Nuclear Transfer), By Applications, By Use (Human and Veterinary), By End-use, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report, global animal model market is anticipated to record a healthy growth rate over 2020-2026.
 

As per the report findings, increasing number of pharmaceutical R&D activities in developing regions, sustained investments in healthcare sector, and ongoing technological advancements are driving global animal model market growth.
 

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On the contrary, expensive process, stringent regulations and guidelines, and intensifying opposition on animal testing by various organizations are hindering market progress.
 

In terms of animal type, rabbit segment attained USD 302 million valuation in 2019 and is touted to record an appreciable CAGR of over 7.4% through 2026. Easy handling and cost-efficiency are the key benefits favoring the adoption of rabbit model in medical research.
 

Based on technology, nuclear transfer segment accounted for USD 2,748 million in 2019 and is estimated to record 7.2% CAGR during the forecast period. The technology has risen in popularity for medical and pharmaceutical research owing to advantages like easy transfer of genetic materials.
 

Moving on to global animal model industry application spectrum, academics segment held a revenue share worth over USD 262 million in 2019 and will exhibit 8.5% CAGR through 2026, attributable to increasing research activities in college and other educational establishments.
 

With respect to use, the industry is split into humans and veterinary, among which, the latter segment captured market share of USD 2,939 million in 2019 and is touted to grow at 7.3% CAGR over the projected timeline, mainly due to spike in cases of various fatal animal disorders.
 

Speaking of end-use scope, organizations segment value reached USD 4,389 million in 2019 and is slated to rise at 7.2% CAGR over the forecast duration. Initiatives undertaken by numerous non-government organizations for the progress of scientific and medical research are supporting the segmental expansion.
 

On the regional front, Lain America animal model industry size was appraised USD 100 million in 2019 and will multiply at 7.4% CAGR through 2026, chiefly on the back of surging healthcare expenditure and ongoing scientific R&D activities.
 

TransGenic Inc., The Jackson Laboratory, Taconic Biosciences Inc., PharmaLegacy Laboratories Co. Ltd., Janvier Labs, Hbm Holdings Ltd. (Harbour BioMed), GenOway S.A., Envigo, and Charles River Laboratories Intl. Inc. are the top contenders in the market.