Animal Genetics Market Trends, Share, Growth Rate, Major Players & Forecast 2022-2027

Byimarcsuraj

According to the latest report by IMARC Group, titled “Global Animal Genetics Market Trends 2023 , Growth Size, Share, Opportunity and Forecast 2022-2027″ reached a value of US$ 7.02 Billion in 2021. Looking forward, expects the market to reach a value of US$ 10.15 Billion by 2027 exhibiting a CAGR of 6.10% during 2022-2027.

What is a Animal Genetics Market ?

Animal genetics is the study of genes and the way it affects living organisms. It offers a biological blueprint for the appearance, function, and survival of organisms’ genes and is considered a major factor affecting animal health and production. It uses various genetic techniques, including twin, cytological, population, hybrid, and ontogenetic approaches. It helps define similarities and differences in other organisms to support the management of the livestock population. At present, animal genetics finds extensive applications in DNA typing and genetic trait and disease testing across the globe.

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Note-We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

What are the major market drivers in the Animal Genetics Market ?

The global animal genetics market is primarily driven by the increasing demand for food and the rising global population. Moreover, the easy availability of animal-based food items through online and offline retail channels with numerous facilities, including attractive deals, doorstep delivery, and secured payment gateways, is positively influencing the market growth.

Additionally, animal-based food assists body growth by offering concentrated energy sources and various nutrients, such as fat, riboflavin, iron, zinc, calcium, and vitamins A, B, D, and E. In line with this, the increasing consumer awareness about the benefits of consuming animal-derived food products, such as dairy items and meat, to meet nutritional requirements is another major growth-inducing factor. Furthermore, the surging adoption of advanced genetic technologies and molecular biology tools is contributing to market growth. Other factors, including increasing investments in research and development (R&D) activities, the rising awareness about veterinary genetic diseases, and expanding livestock population, are also anticipated to drive the market further.

List of Major Key Players@

Alta Genetics Inc., Animal Genetics Inc., CRV Holding B.V., Envigo (Inotiv Inc.), Genus plc, Groupe Grimaud La Corbière SA, Hendrix Genetics B.V., Neogen Corporation, Sandor Animal Biogenics Pvt. Ltd., Topigs Norsvin, URUS Group LP, VetGen LLC and Zoetis Inc.

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Breakup by Live Animal:

  • Porcine
  • Bovine
  • Poultry
  • Canine
  • Others

Breakup by Genetic Materials:

  • Embryo
  • Semen

Breakup by Services:

  • Genetic Trait Testing
  • Genetic Diseases Testing
  • DNA Typing

Breakup by End User:

  • Veterinary Hospitals and Clinics
  • Diagnostic Centres

Regional Insights:

  • Asia Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America

On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.

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