Animal Genetics Market is Expected to Reach $9.5 billion | MarketsandMarkets.

Chicago, Aug. 22, 2023 (GLOBE NEWSWIRE) -- In the near future, the animal genetics industry is poised to undergo transformative changes driven by rapid advancements in genetic engineering technologies such as CRISPR-Cas9. This evolution will likely lead to the development of animals with enhanced traits, including disease resistance, improved product quality, and heightened productivity. The industry's focus on ethical considerations and sustainability will intensify, leading to the creation of animals that are not only more resilient and resource-efficient but also align better with evolving consumer preferences for ethically produced and environmentally friendly products. Precision livestock farming will integrate genetic insights with digital innovations, fostering a data-driven approach to animal care and management. Regulatory frameworks will play a crucial role in shaping the responsible application of these technologies, while ongoing public discourse will navigate the societal implications of genetically modified animals.

Animal Genetics market in terms of revenue was estimated to be worth $6.6 billion in 2023 and is poised to reach $9.5 billion by 2028, growing at a CAGR of 7.4% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. Various factors responsible for the market growth are demand for live animals from farmers, animal breeders, and the animal food industry and the rising demand for genetic materials to produce animals of superior breeds that are high-yield and disease-resistant.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=12462093

Animal Genetics Market Scope:

Report Coverage	Details
Market Revenue in 2023	$6.6 billion
Estimated Value by 2028	$9.5 billion
Growth Rate	Poised to grow at a CAGR of 7.4%
Market Size Available for	2021–2028
Forecast Period	2023–2028
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By product & service
Geographies Covered	North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunities	Innovations in phenotyping services
Key Market Drivers	Growing global population and rapid urbanization

Animal Genetics market major players covered in the report, such as:

• Neogen Corporation (US)
• Genus (Uk)
• Urus (US)
• EW Group Gmbh (Germany)
• Groupe Grimaud (France)
• CRV Holdings (Netherlands)
• Topigs Norsvin (Netherlands)
• Zoetis (US)
• Envigo (US)
• Hendrix Genetics (Netherlands)
• Animal Genetics (US)
• VetGen (US)
• Danbred (Denmark)
• Tropical Bovine Genetics (India)
• EasyDNA (Us)
• Inguran LLC Dba St Genetics (US)
• Semex Alliance (Canada)
• Superior Animal Genetics (India)
• Cobb-Vantress (US)
• Milk Source (US)
• Eurogene AI Services (Ireland)
• Agri-Gene (Australia)
• Accelerated Genetics (US)
• Viking Genetics (Sweden)
• Indical Bioscience (Germany)
• and Among Others

Buy an Animal Genetics Industry Report (320 Pages PDF with Insightful Charts, Tables, and Figures): https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=12462093

The study categorizes the animal genetics market based on type, application, end user and regional & global level.

Global Animal genetics Market, by Product & Service

• Animal Genetic Products                                             
  • Live Animals                      
    • Poultry
    • Porcine
    • Bovine 
    • Canine 
    • Other live animals           
  • Genetic Materials                           
    • Semen 
    • Bovine
    • Porcine
    • Equine
    • Canine
    • other animal semen
  • Embryos             
    • Bovine
    • Equine
    • Other animal embryos
• Animal Genetic Testing Services                               
  • Genetic Disease Tests                   
  • Genetic Trait Tests                          
    • Bovine 
    • Other animal genetic trait tests
  • DNA Typing                        
  • Other services                  

Global Animal genetics Market, by region

• North America
  • US
  • Canada
• Europe
  • France
  • Germany
  • UK
  • Spain
  • Italy
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa

Request for FREE Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=12462093

The key stakeholders in the Animal Genetics market include:

• Animal genetics companies
• Animal breeders
• Research institutes and academic centers
• Contract research organizations (CROs)
• Government associations
• Milk and meat producers
• Market research and consulting firms
• Venture capitalists and investors

Recent Developments:

• In March 2023, URUS Group collaborated with Genetics Australia. The JV will be 60 percent owned by URUS and 40 percent owned by Genetics Australia (GA). It will have access to the full suite of GENEX products and access to the PEAK program.
• In January 2023, Zoetis collaborated with VAS to give farmers better compatibility crossover between Vas's PULSE platform, a broad farm management cloud-based software, and DairyComp, a herd health system with Zoetis's CLARIFIDE genetic and fertility testing.

Frequently Asked Questions (FAQs) of Animal Genetics Market:

What are emerging trends in the animal genetics market?
Increasing R&D investments and government funding, rising research collaboration and partnerships and changing dynamics in the Chinese porcine market are emerging trends in the animal genetics market.

What are the drivers and opportunities for the animal genetics market?
Increasing consumption of animal-derived protein and dairy products and growing global population and rapid urbanization are the major drivers and untapped market potential in developing countries and innovations in phenotyping services are the major opportunities in the animal genetics market.

What are technological advancements in the animal genetics market?
Gene editing, precision phenotyping and artificial intelligence (AI) are technological advancements in the animal genetics market.

Which is the leading type segment with the largest share in the animal genetics market?
The animal genetic products segment holds the largest share of the animal genetics market in 2022, primarily due to the high global demand for live animals from the animal food industry and the high adoption of genetic materials by breeders. 

Which segment is estimated to grow at the highest CAGR in animal genetics market?
Animal genetic testing services segment is estimated to grow at the highest CAGR in animal genetics market by end user.  Growth in this segment can be attributed to growing awareness of veterinary genetic diseases and disorders, the high cost associated with veterinary genetic diseases, and the increasing DNA testing carried out for canine.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=12462093

Report Objectives:

• To define, describe, and forecast the animal genetics market by product & service and region
• To strategically analyze the industry trends, technology trends, pricing analysis, regulatory scenario, supply/value chain, ecosystem/market map, Porter’s Five Forces, trade & patent analysis, key stakeholders & buying criteria, and conferences & events
• To provide detailed information about the factors influencing market growth (drivers, restraints, opportunities, and challenges)
• To analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall market
• To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
• To forecast the market size based on region in Europe, North America, the Asia Pacific, Latin America, and the Middle East and Africa
• To strategically profile key players in the animal genetics market and comprehensively analyze their core competencies
• To track and analyze competitive developments such as acquisitions, product launches, approvals, expansions, and partnerships
• To analyze the impact of the recession on the animal genetics market

Related Reports:

Veterinary Equipment Market

Veterinary Diagnostics Market

Veterinary Reference Laboratory Market

Companion Animal Pharmaceuticals Market

Molecular Diagnostics Market

Research Insight: https://www.marketsandmarkets.com/ResearchInsight/animal-genetic-market.asp

Content Source: https://www.marketsandmarkets.com/PressReleases/animal-genetic.asp

            About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com