Dublin, April 17, 2024 (GLOBE NEWSWIRE) -- The "North America Animal Genetics Market Forecast to 2028 - Regional Analysis - by Type, Animal, and Genetic Material" report has been added to ResearchAndMarkets.com's offering.
The North American animal genetics market was valued at US$ 2.24 billion in 2022 and is expected to reach US$ 3.31 billion by 2028, and is estimated to grow at a CAGR of 6.7% from 2022 to 2028.
Rising Adoption of Progressive Genetic Practices fuel the North American Animal Genetics Market
Animal genetics emphasizes the inheritance and genetic variations in wild and domestic animals. This science is used commercially to test genetic disorders, genetic traits, and DNA type. Further, superior animal breeds are developed using genetic engineering to obtain large-scale production of modified breeds. Animal genetics uses genetic practices such as artificial insemination (AI), embryo transfer, and cytological studies for hybridization. AI can reduce various risks in animal breeding and disease transmission. It is found that female cattle born through AI yields more milk than cattle born via natural breeding.
In addition, the use of antibiotic-containing semen extensors is effective in preventing bacterial diseases, making the entire AI process more hygienic than natural mating. The market players focus on partnerships, collaborations, and acquisitions to develop genetically modified breeds in order to strengthen their position in the market.
Furthermore, collaborations by companies benefit farmers with advanced technologies that allow them to improve the genetics of their herds. Farmers can also benefit from AI advantages such as maintaining breed and cawing records, better record-keeping, and preventing the spread of certain diseases. Thus, the increasing adoption of progressive genetic practices such as AI and embryo transfer benefits market growth.
North America Animal Genetics Market Overview
The US holds the largest share of the market in this region, followed by Canada. The market growth in North America is attributed to growing investments in animal genetics projects, rising livestock production and farming, and increasing initiatives to protect and preserve livestock animals.
North America Animal Genetics Market Segmentation
- The North America animal genetics market is segmented based on type, animal, genetic material, and country. Based on type, the North America animal genetics market is bifurcated into services and product. The services segment held a larger market share in 2022.
- Based on animal, the North America animal genetics market is segmented into porcine, poultry, bovine, canine, and others. The porcine segment held the largest market share in 2022.
- Based on genetic material, the North America animal genetics market is bifurcated into embryo and semen. The embryo segment held a larger market share in 2022.
- Based on country, the North America animal genetics market is segmented into the US, Canada, and Mexico. The US dominated the North America animal genetics market share in 2022.
- Neogen, Genus, Topigs Norsvin Nederland, Zoetis, Hendrix Genetics, Inotiv, Animal Genetics, Alta Genetics, Groupe Grimaud La Corbier and Charles River Laboratories International are some of the leading companies operating in the North America animal genetics market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 128 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value in 2022 | 2247.7 Million |
| Forecasted Market Value by 2028 | 3314.97 Million |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | North America |
Key Topics Covered:
1. Introduction
2. North America Animal Genetics Market - Key Takeaways
3. Research Methodology
4. North America Animal Genetics Market - Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Expert Opinions
5. North America Animal Genetics Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Preference for Animal-Derived Food Products
5.1.2 Rising Adoption of Progressive Genetic Practices
5.2 Market Restraints
5.2.1 Lack of Skilled Professionals in Veterinary Research
5.2.2 Stringent Government Regulations for Animal Genetics
5.3 Market Opportunities
5.3.1 Innovations in Phenotyping Services
5.4 Future Trends
5.4.1 Building Gene Banks and Investments in Animal Genetics
5.5 Impact Analysis
6. Animal Genetics Market - North America Analysis
6.1 North America Animal Genetics Marker Revenue Forecast and Analysis
7. North America Animal Genetics Market Analysis - by Type
7.1 Overview
7.2 Animal Genetics Market, By Type, 2022 & 2028 (%)
7.3 Product
7.4 Service
7.4.3 DNA Typing
7.4.4 Genetic Trait Tests
7.4.5 Genetic Disease Tests
8. North America Animal Genetics Market Analysis - by Animal
8.1 Overview
8.2 Animal Genetics Market, By Animal, 2022 & 2028 (%)
8.3 Poultry
8.4 Porcine
8.5 Bovine
8.6 Canine
9. North America Animal Genetics Market Analysis - by Genetic Material
9.1 Overview
9.2 Animal Genetics Market, By Genetic Material, 2022 & 2028 (%)
9.3 Semen
9.4 Embryo
10. North America Animal Genetics Market - Revenue and Forecast to 2028 - Country Analysis
10.1 North America: Animal Genetics Market
10.1.1 Overview
10.1.2 North America: Animal Genetics Market, by Country, 2022 & 2028 (%)
10.1.3 US: Animal Genetics Market - Revenue and Forecast to 2028 (US$ Million)
10.1.4 Canada: Animal Genetics Market - Revenue and Forecast to 2028 (US$ Million)
10.1.5 Mexico: Animal Genetics Market - Revenue and Forecast to 2028 (US$ Million)
11. Animal Genetics Market-Industry Landscape
11.1 Overview
11.2 Growth Strategies Done by the Companies in the Market, (%)
11.3 Organic Developments
11.4 Inorganic Developments
12. Company Profiles
- Neogen Corp
- Genus
- Topigs Norsvin Nederland
- Zoetis Inc
- Hendrix Genetics
- Inotiv
- Animal Genetics
- Alta Genetics
- Groupe Grimaud La Corbiere
- Charles River Laboratories International
For more information about this report visit https://www.researchandmarkets.com/r/pcpoai
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