Animal Genetics Market Size, Industry Analysis Report By Product Type (Live Animals, Genetic Material, Genetic Testing) & Region – Forecast
- PUBLISHED ON
- 2024-10-03
- NO OF PAGES
- 208
- CATEGORY
- Healthcare & Life Sciences
The Animal Genetics Market is valued at around USD 4.9 billion in 2022 and is expected to reach USD 9.1 billion by 2030, registering a CAGR of 6.7% over the forecast period. One of the cornerstones of livestock production is animal genetics. It covers a wide range of topics, including local, national, regional, and global behaviour, from characterisation and conservation to genetic improvement. In the fight against animal sickness and suffering, the animal genetics sector is looking for alternate answers. These include the use of reproductive indicators based on data and health, as well as research on ground-breaking technologies like gene editing and immunogenetics. Agriculture and animal welfare are anticipated to be dramatically impacted by gene editing.
The Animal Genetics Market - Growth Factor
This market's expansion is primarily attributable to rising demand for animal-derived protein, a growing global population and rapid urbanisation, a growing emphasis on superior breed identification, rising use of genetic services to prevent genetic diseases and economic loss, and rising use of cutting-edge genetic technologies. On the other side, one of the major factors limiting market growth is the lack of qualified specialists in veterinary research. because of escalating government activities, expanding use of cutting-edge genetic technology, and widespread use of animal-derived proteins. The development of better breeding practises that result in animals that are strong, healthy, and able to utilise nutrients for effective growth and reproduction are the main factors driving the study market's expansion in the region. Additionally, the prevalence of infectious diseases among animals is predicted to rise, particularly among poultry and pigs, which will increase the demand for high-quality breeds by requiring sophisticated biotechnology methods.
The Animal Genetics Market – Market Trends
• As a result, cheap production of high-quality, safe animal protein is required. The relevance of livestock treatments and diagnostics is being affected by the loss of natural resources, increased emphasis on food safety, and rise in demand for improved nutrition (particularly animal protein).
• Global demand for high-quality proteins is anticipated to increase as a result. The live animal (bovine, porcine, poultry, canine, and other), genetic material (semen, embryo, and other), and genetic testing segments make up the global market for animal genetics.
• In 2021, the segment of live animals accounted for a sizable portion of the global market. The market is anticipated to expand quickly between 2022 and 2031. Animal protein demand and consumption are expected to expand sharply in the next years, along with the world's urban population growing quickly.
The Animal Genetics Market – Segmentation
The Animal Genetics Market fragrance concentrates market has been sub-classified into input meat type, distribution channel.
On the basis of product type, the Animal Genetics Market is bifurcated into:
• Live Animals- Bovine, Porcine, Poultry, Canine, Piscine, Other.
• Genetic Material- Semen, Embryo, Other
• Genetic Testing
The Animal Genetics Market –Regional Analysis
North America dominated the global Animal Genetics Market, the region's significant market share was also influenced by the high penetration of animal genetic businesses using cutting-edge technologies. Animal breeding companies, including start-ups, are concentrated in the United States. Additionally, the market's major participants have their corporate headquarters here. As a result, in North America, the U.S. is a significant market for animal genetics.
The Animal Genetics Market – Key Market players
Global key players of Animal Genetics Market include Animal Genetics Inc., CRV Holding, Genus PLC, Hendrix Genetics BV, Neogen Corporation, Topigs Norsvin Holding BV, URUS, Vetgen, and Zoetis Services LLC, among others.
Report scope
Global Animal Genetics Market: Historical Years- 2018-2021
Global Animal Genetics Market: Forecast Years- 2022-2030
Global Animal Genetics Market 2022- USD 4.9 billion
Global Animal Genetics Market 2030- USD 9.1 billion
Global Animal Genetics Market CAGR- 9.1%
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