Transgenic Animals Market Trends, Application, Forecast, Size, Share, Industry Analysis | Growth, 2027
Overview 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 report by Market Research Future (MRFR) contains a compilation of drivers, threats, and opportunities which can work well for interested investors. Market Outlook The global transgenic animals market is projected to exhibit 8.60% CAGR from 2017 to 2023 (forecast period). 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 W in 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 hi