Transgenic Animals Market Highlights
Transgenic animals or genetically modified (GM) animals have a foreign gene inserted into their DNA structure for various applications such as production of drugs, resistance to disease, and increasing yields. For instance, GM cows, sheep, and goats can produce growth hormone, insulin, and anticoagulants. The global transgenic animals market research report by Market Research Future (MRFR) contains a compilation of drivers, threats, and opportunities which can work well for interested investors.
Market Outlook
The Transgenic Animals Market is projected to reach USD 6,744.50 Million by 2030 at 9.5% CAGR during the forecast period 2022-2030. Hike in R&D expenses and the growing biotechnology sector are major drivers of the market. This is evident by the revenue accumulated by the biotech sector to be close to Win 2016. Rising cases of diabetes, cardiovascular disorders, and other diseases in conjunction with awareness of transgenic animals for testing purposes can fuel the market growth.
The high yields gained by transgenic animals due to the high purity level can spur the demand for transgenic animals. Major use of gene editing for creating GM animals can bode well for the global transgenic animals market share. Technological advanced in genetic engineering can push the market demand. The probiotics for animals producing complex proteins and low cost per protein can expand the scope of the global market.
But stringent regulations by federal bodies to protect consumers may hamper the market growth.
Segmentation Analysis
The global transgenic animals market is segmented based on product, technique, consumables, application, model organisms, and end-user.
By product, the market is segmented into electroporators, micro-injections, gene gun, polymerase chain reaction (PCR), and others.
By technique, the market is segmented into DNA microinjection, embryonic stem cell-mediated gene transfer, retrovirus-mediated gene transfer, and others.
By consumables, the market is segmented into culture media, fluorescent probes, and others.
By application, the market is segmented into monoclonal antibodies, xenotransplantation, recombinant human proteins, and others.
By model organisms, the market is segmented into cows, rabbit, mice, and others.
By end-user, it is segmented into academic institutes, research organizations, biotechnology industries, and others.
Regional Analysis
Geography-wise, the global transgenic animals market comprises Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas can lead the global market till 2023 due to continuous developments in biotechnology, acceptance of transgenic products, and rising cases of cardiovascular disorders and diabetes. Presence of major players such as Charles River Laboratories and others can influence the market revenue. North America can garner significant revenue due to demand from the U.S. and Canada, while South America has shown great promise due to latent opportunities for growth.
Transgenic Animals Market Players
The global transgenic animals market players are Cyagen Biosciences, Bio-Rad Laboratories, Inc., Creative-Biolabs, Abbott, Charles River, Sigma-Aldrich Co., Thermo Fisher Scientific Inc., Sutter Instrument Company, TRANS GENIC INC., Ltd., Accumold, Spinco Biotech Pvt Ltd.
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