The Non-animal Alternative Market Projected to Grow at a CAGR of 13.0% and Garner a Revenue of $29,390.20 Million in the 2021-2030 TimeframeDownload Sample Reports Overview
The global non-animal alternative market was valued at $9,080.10 million in 2020 and is projected to reach $29,390.20 million by 2030, registering a CAGR of 13.0%.
COVID-19 Impact on the Non-animal Alternative Market
During the prevalence of COVID-19 pandemic, the non-animal alternative market observed a positive growth. Due to high rate of corona virus transmission, and fear of infection, the demand for a potential drug against the virus has increased tremendously. Thus, to discover and prepare the vaccine in very less time, scientists and researchers have started using alternative to animal tests like computer aided drug design. Such factors are expected to flourish the non-animal alternative testing market share growth in the forecast time period.
Non-animal Alternative Market Analysis
Rising awareness among people about the involvement of animals in the pre-clinical trials is expected to drive the non-animal alternative market share growth in the forecast time period. As people are becoming more aware about the role of animals in any new product or drug testing, they have now started demanding for animal testing free products, especially cosmetics. Such factors are likely to flourish the non-animal alternative testing market size growth in the predicted time period. Also, growing ethical issues regarding animal cruelty while using them for pre-clinical testing of products is further likely to boost the market growth in the future.
However, lack of accuracy and effectiveness about the results of alternative to animal tests like microarray on humans is likely to restrain the market growth in the forecast time period. Apart from this, at many places, the use of animals for pre-clinical trials for drugs is further expected to impede the market growth in the future.
Continuous encouragement by the governing body to reduce animal test models during pre-clinical trials is likely to boost the market growth of non-animal alternative testing in the coming years. Apart from this, many government organizations have banned animal testing for cosmetic products due to rising ethical issues. Hence, the cosmetic industries have opted for various alternative to animal tests like organ-to-chip test for performing various pre-clinical trials to check effectiveness and sensitivity of the product on human skin. Such factors are likely to flourish the non-animal alternative testing market share growth in the coming years.
Non-animal Alternative Market Segmentation
The non-animal alternative market is segmented based on technology, method, end-user, and region.
The global non-animal alternative market by technology is segmented into cell culture technology, high throughput technology, molecular imaging, and omic technology. Omic technology market sub-segment is anticipated to have the fastest market growth and the market shall generate a revenue of $2,483.70 million in 2030. The sub-segment growth is attributed to the increasing research and development activities to study the cellular molecules like DNA, RNA, and proteins. Omic technology includes various techniques such as proteomics, genomics, and metabolomics.
The global non-animal alternative market by method is segmented into cellular assay, biochemical assay, in silico, and ex-vivo. The cellular assay sub-segment is predicted to have the highest revenue in the global market and register a revenue of $12,369.50 million during the forecast period. The growth is attributed to the fact that cellular assays are highly quantitative and very small amount of cellular assay is run for large amount of data. Also, cellular assays are widely used by the researchers to study the metabolism and physiology of diseased cells in detail. Such factors are likely to flourish the market growth in the future.
The global non-animal alternative market by end-user is segmented into pharmaceutical industry, cosmetics & household products, diagnostics, chemical industry, and food industry. Pharmaceutical industry sub-segment is predicted to have the highest market share in the global market and register a revenue of $13,993.80 million during the forecast period. The sub-segment growth is due to the continuous efforts taken by the pharmaceutical industries to develop new drugs and vaccines for either new disease or pre-existing illness. Also, rising ban on the use of animals for pre-clinical trials of drugs is further anticipated to generate huge revenue for the market growth.
The Asia-Pacific non-animal alternative testing market is expected to observe fastest growth and register a revenue of $4,761.20 million in the predicted time span. The regional growth is attributed to presence of well-established cosmetic and pharmaceutical companies in the market and their constant efforts to develop and launch new products and drugs for betterment of humankind. Also, growing prevalence of health issues such as viral disease and growing resistance of microorganisms against existing medicines are likely to encourage the researchers in the region to pace up their research activities and develop new medicines. Such factors are estimated to increase the market growth of non-animal alternative market in the future.
Key Players in the Non-animal Alternative Market
The companies involved in the non-animal alternative testing market are
- Vitrocell Systems GMBH
- MB Research Laboratory
- Emulate, Inc.,
- Tara Biosystems
- Bio- Rad
- Abbott Laboratories
- Hurel Corporation
- Tissues GmbH
Porter’s Five Forces Analysis for the Non-animal Alternative Market
- Bargaining Power of Suppliers: The number of suppliers in the non-animal alternative market are increasing at a rapid pace due to which they have to optimize their product range in order to attract large number of consumers.
Thus, the bargaining power suppliers is moderate.
- Bargaining Power of Buyers: Buyers are high in number. Therefore, they have high choices in choosing the products that best fit their requirements.
Thus, the bargaining power of the buyers is high.
- Threat of New Entrants: Since the market is growing rapidly, new companies entering the market have started launching new and advanced non-animal alternative testing market products to attract the consumers and establish their market presence.
Thus, the threat of the new entrants is high.
- Threat of Substitutes: Although non-animal alternative testing market is itself a substitute for animal based testing in the market, many researchers still prefer the traditional method of testing. Due to this, the threat for the market increases.
Thus, the threat of substitutes is high.
- Competitive Rivalry in the Market: The competitive rivalry is present among the market players as the non-animal alternative testing market is growing and there is a huge scope for high growth
Therefore, competitive rivalry in the market is high.