CHICAGO, Nov. 07, 2022 (GLOBE NEWSWIRE) -- “Animal Genetics Market” the new research report adds to Data Bridge Market Research’s reports database. This Research Report is spread across 220 No of Tables, And 60 No Figures summarizing Top companies, with tables and figures. The compound annual growth rate (CAGR) estimates presented in the Animal Genetics report are crucial for companies to use when determining the investment's worth throughout the period. This report provides businesses with accurate and up-to-date information about the various types of consumers, their demands and preferences, their perspectives on the product, their intentions when making a purchase, their reactions to products, and their varying tastes regarding a particular product already on the market. Studies on the definition of the market, the segmentation of the market, and competitive analysis of the market are the focal points of this study.
Data Bridge Market Research analyses that the animal genetics market was valued at USD 5.5 billion in 2021 and is expected to reach USD 11.16 billion by 2029, registering a CAGR of 9.25% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Animal genetics is a field of genetics that investigates the appearance, breeding, and color of animals. It is based on standard genetic concepts and mostly employs general genetic approaches such as hybrid, cytological, population, ontogenetic, statistical, and twin methods. Inheritance patterns, physiology, and biochemical features are all identified using a hybrid analysis. The animal has its own distinct inheritance of traits due to its enormous number of chromosomes. The link between these genes and animal productivity, fertility, and viability is a key focus of research in this discipline.
Drivers
- Increasing focus on the identification of superior disease-resistant breed
The rising focus on the identification of superior disease-resistant breed will cushion the market’s growth rate. Researchers in the field of animal genetics have discovered features inside genes that help animals' health, growth, and ability to consume nutrition. These genetic breakthroughs boost output while lowering environmental impact. Almost a billion people rely on livestock and animals for their food security and livelihoods, and livestock and animals account for roughly 40% of worldwide agricultural output. As a result, studying animal genetics to identify and produce disease-resistant breeds is critical for the rising population.
- Rise in the consumption of animal-derived protein and dairy products.
The animal genetics industry is being driven by the increase in the consumption of animal-derived protein and dairy products. Humans get their protein and calcium primarily from livestock and fowl. Beef, veal, dairy products, and eggs are among the most popular foods, and demand for these items is predicted to rise significantly.
Furthermore, the rising demand for companion animals will be a major factor influencing the growth of the animal genetics market. Along with this, increasing urbanization and rising number of global population are the driving factors accelerating the growth of the animal genetics market. Also, the rise in the genetic service to prevent genetic diseases and increasing expenditure on healthcare infrastructure are the major market drivers that will further escalate the growth of animal genetics market.
Some of the major players operating in the Animal Genetics market are
- NEOGEN CORPORATION (U.S.),
- Genus (U.K.),
- URUS (U.S.),
- E.W. Group (Germany),
- Groupe Grimaud (France),
- Topigs Norsvin (Netherlands),
- Zoetis (U.S.),
- Envigo (U.S.),
- Hendix Genetics B.V. (Netherlands),
- Animal Genetics Inc. (U.S.),
- VetGen (U.S.),
- DanBre (Denmark),
- Tropical Bovine Genetics (India),
- Trans Ova Genetics (U.S.),
- Inguran LLC dba STgenetics (U.S.),
- Semex (Canada),
- Cobb-Vantress (U.S.),
- Milk Source (U.S.),
- Eurogene AI Services (Ireland),
- CRV Holding B.V. (Netherlands),
- E.W. Nutrition GmbH (Germany),
- Trans Ova Genetics. (U.S.),
- Beacon Automation Pty Ltd. (Australia),
- Cogent (U.S.),
- Genex Services, LLC (U.S.),
- ABS GLOBAL, INC. (U.S.),
- Anicam Enterprises Inc. (U.S.), and
- Milk Source
Recent Development
- In September 2021, Tropic Biosciences and Genus PLC had formed a strategic partnership to work on Tropic Biosciences' Gene Editing Induced Gene Silencing (GEiGS) technology for porcine and bovine genetic applications.
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Core Objective of Animal Genetics Market:
Every firm in the Animal Genetics market has objectives but this market research report focus on the crucial objectives, so you can analysis about competition, future market, new products, and informative data that can raise your sales volume exponentially.
- Size of the Animal Genetics market and growth rate factors.
- Important changes in the future Animal Genetics Market.
- Top worldwide competitors of the Market.
- Scope and product outlook of Animal Genetics Market.
- Developing regions with potential growth in the future.
- Tough Challenges and risk faced in Market.
- Global Animal Genetics top manufacturers profile and sales statistics.
Opportunities for Key Players:
- Growing adoption of selective breeding in animals
Moreover, the rising adoption of selective breeding in animals will benefit the growth of animal genetics. DNA typing is used to identify and control the paternity of domestic animals. It's also utilized for diagnosing genetic problems and sexing animals, which helps to boost segment growth. Furthermore, as selective breeding for desirable qualities becomes more widely accepted, demand for animal genetics services will rise, resulting in market increase.
Moreover, the growing focus of manufacturers on the adoption of advanced technologies and increase in the number of research and development activities will further provide beneficial opportunities for the animal genetics market growth during the forecast period.
Segmentation Covered: Animal Genetics Market
By Product
- Poultry
- Porcine
- Bovine
- Canine
By Genetic Material
- Semen
- Embryo
By Services
- DNA Typing
- Genetic Trait Tests
- Genetic Disease Tests
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Challenges of the Animal Genetics Market
- Surging emergence of alternatives such as lab-based meat
However, increasing the emergence of alternatives such as lab-based meat will impede the growth rate of the animal genetics market. The move toward a demand for high-quality products offsets some of the increase in per capita meat consumption. Changing consumer tastes and attitudes towards meat consumption about its influence on health, the environment, animal welfare, and global greenhouse gas (GHG) emissions could move demand away from animal-based protein. This could have a long-term negative influence on demand for animal-based protein, delaying the adoption of animal genetics.
On the other hand, the rising need for specific breeding programs for breeds with inferior economic performance will challenge the animal genetics market. Additionally, economic sustainability in local breeds and the lack of skilled veterinary research professionals will restrain and further impede the growth rate of market during the forecast period of 2022-2029.
Animal Genetics Market Regional Analysis/Insights:
The countries covered in the animal genetics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the animal genetics market because of major key players and increasing need for animal protein in this region. Additionally, growing acceptance of advanced technologies in animal genetics and the recognized livestock sector will flourish the market’s growth rate in this region.
Asia-Pacific is expected to grow during the forecast period due to rise in animal care facilities, both at veterinary hospitals and community-level centres in this region. Along with this, increasing demand for effective tests and other hereditary amenities for testing hereditary diseases in animals will flourish the market’s growth rate in this region.
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Animal Genetics Market Regulations
- Market Overview
- Global Animal Genetics Market, By Product
- Global Animal Genetics Market, By Genetic Material
- Global Animal Genetics Market, By Services
- Global Animal Genetics Market, By Region
- Global Animal Genetics Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
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