Animal Genetics Market By Global Top Key Players, Share, Size, Demand, Opportunities, Sale Area, Revenue Analysis Forecast Outlook 2030

 

Animal Genetics Market

Market Scope

Market Research Future (MRFR) studied the Animal Genetics Market is anticipated to reach USD 5,515.72 Million by 2030 at 6.90% CAGR during the forecast period 2022-2030.

Drivers and Restrain Impacting Animal Genetics Market

The increasing adoption of animal genetics to study genetic variation and inheritance for wild and domestic animals can influence the market. The increase in the commercial applications of animal genetics for services, such as genetic trait testing, DNA typing, and genetic disease testing, can contribute to the expansion of the animal genetics market in the analysis period. The rise in adoption of methodology, such as: ontogenetic, hybrid population, and cytological studies for determining the genetic hybridizations to improve quality of product can add to the animal genetic market rise. For example, a genetically modified cow can produce more milk, be less prone to cattle diseases, such as; bovine respiratory disease complex and clostridial disease, which can effectively increase the overall profit of farmers.

The increase in the consumption of animal-derived protein and rapid urbanization due to increase in population are other causes that can add to expansion of the animal genetics market. The growing focus on the identification of superior breeds have supported the study of toxicology testing that improve the impetus of the animal genetics market.

On the contrary, factors such as: problems arising from animal testing, lack of skilled professionals, and stringent regulatory framework for genetic engineering are some factors that can restrain the animal genetics market growth over the forecast term.

Animal Genetics Market Key Players

Neogen Corporation (US), URUS (US), Genus (UK), EW Group (Germany), CRV Holding B.V. (The Netherland), Groupe Grimaud (France), Topigs Norsvin (Netherlands), Envigo (US) Hendrix Genetics BV (The Netherland), Zoetis (US), vetGen (US), and Animal Genetics (US), Alta Genetics (US) among others are some eminent players in the global animal genetics market that are listed by MRFR.

Segment Analysis of Animal Genetics Market

The segment study of the global animal genetics market is based on services, animal genetic products, and end-user.

·         The animal genetic product-based segments of the global animal genetics market are live animals and genetic materials. The segment of live animals is assessed poultry, canine, bovine, and porcine among others. The segment of genetic materials is assessed for embryo and semen.

·         The services-based segments of the animal genetics market are gene trait tests, genetic disease tests, and DNA typing among others.

·         The end-user-based segments of the animal genetics market are diagnostic centres, veterinary hospitals & clinics, and research centres and institutes among others.

Regional Study of Animal Genetics Market

In the Americas region, the market of animal genetics market is expected to be led by North America. The growth of animal genetics market in the region can be attributed to the upsurge in demand for animal products, such as; mutton and pork. Rapid urbanization in regions of the US and increase in the demand for live animals can underpin the regional animal genetics market in the near future. The rise in the adoption of artificial insemination therapy for cattle, goats, sheep, and pigs can add momentum to the animal genetics market by 2027.

In Europe, the animal genetics market is set to garner considerable revenue on the conclusion of the assessment period. The surge in awareness about animal health and increase in cases of animal genetic diseases are factors that are expected to underscore the animal genetics market over the review tenure. The increase in prevalence of zoonotic disease is likely to create lucrative growth opportunities for new marketers in the region.

In Asia Pacific region, the expansion of the animal genetics market can be attributed to the in 2017. The expansion of livestock population and adoption of advancements in DNA typing and other genetic testing tools can boost the need for various diagnostic testing to determine the demand for genetic trait tests. Key players are also investing the animal genetics to launch new products, such as; NOVOGEN SAS that launched their NOVOgen White commercial in Libya to contribute to the regional expansion of the animal genetics market.

In the Middle East Asia and Africa, the market of animal genetics market can thrive owing to the rise in health expenditure in economically diverse countries. The introduction of toxicology care programs in regions of Middle East Asia can contribute to the rise of the animal genetics market.

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