The Asia-Pacific rat model market is anticipated to grow at a CAGR of 9.13 % for the forecast period of 2019-2027 and is expected to generate a revenue of $XX thousand by the year 2027. The rising demand for research activities in the Asia-Pacific countries has increased the opportunities for this market by many folds.
The Asia-Pacific market is rapidly flourishing because of major drivers like supportive R&D incentive schemes for Contract Research Organizations, biotechnological complies and the booming pharmaceutical sectors in regional countries such as Australia, India and China. Presently, India has the third largest pharmaceutical industry in the world whereas, China is presently the second largest investor in research & development globally, and is expected to overtake US research & development investments by the year 2023. The toxicology application is dominating the current market scene. However, the oncology market is fast growing owing to the increasing number of cancer cases worldwide and is estimated to grow at a CAGR of xx % by 2027. On the basis of the market segmentation by type, the genetically engineered outbred type is seemingly a fast emerging market growing at a CAGR of xx% whereas the other types such as surgically modified rats, inbred, hybrid and immune-deficient rats are expected to grow at a CAGR of xx%, xx%, xx% and xx% respectively over the forecast period. By the market segmentation by component, the services sector is predicted to lead the market and is predicted to grow faster at a CAGR of xx% by the end of the forecast period.
The leading companies players in the Asia-Pacific Rat Model market are Taconic Biosciences, Transviragen Inc., Transposagen Biopharmaceuticals Inc., Charles River Laboratories Inc., Laboratory Corporation of America Holdings, Vivo Biotech Ltd., Cyagen Biosciences Inc., Genoway S.A., Sage Labs Inc. (Acquired By Horizon Discovery Group PLC), Hera Biolabs Inc., Envigo, Biomere, Clea Japan, Janvier Labs and Oncodesign S.A.