Animal Genetics Market

Market Overview:

The global animal genetics market size reached US$ 7.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.

Animal genetics is the study of genetic code and its effects on living organisms. It provides a biological blueprint for the appearance, function, and survival of the genes of organisms and is considered a critical factor influencing animal health and production. It employs various genetic approaches, such as hybrid, cytological, population, ontogenetic, statistical, and twin methods. It also aids in defining similarities and differences in other organisms that support the management of livestock population. At present, animal genetics is widely employed across the globe for DNA typing and genetic trait and disease testing.

Animal Genetics Market Trends:

The growing global population and the increasing food demand represent one of the key factors positively influencing the market. In addition, the growing population of livestock and rising consumer awareness about the benefits of consuming animal-derived food products, such as dairy items and meat, to meet nutritional requirements are creating a positive market outlook. For instance, animal-based food provides concentrated sources of energy and various other nutrients, including fat, riboflavin, iron, zinc, calcium, and vitamins A, B, D, and E and assists in body growth. Moreover, the easy availability of animal-based food items in online and offline distribution channels, coupled with various facilities, including doorstep delivery, attractive deals, and secured payment gateways, is propelling the market growth. Besides this, the rising awareness about veterinary genetic diseases and increasing adoption of advanced genetic technologies and molecular biology tools are strengthening the market growth. In line with this, the growing investments in research and development (R&D) activities to introduce methods of analyzing molecular information and creating tools to integrate data with existing phenotypic and biological information to generate knowledge for livestock production are anticipated to drive the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global animal genetics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on live animal, genetic materials, services and end user.

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
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Report Coverage:

Key Questions Answered in This Report:

• How has the global animal genetics market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global animal genetics market?
• What are the key regional markets?
• What is the breakup of the market based on the live animal?
• What is the breakup of the market based on the genetic materials?
• What is the breakup of the market based on the services?
• What is the breakup of the market based on the end user?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global animal genetics market and who are the key players?
• What is the degree of competition in the industry?