Animal Genetics Market Size Estimated to Reach $7.15 Billion by 2025

Animal Genetics Market size is estimated to reach $7.15Billion by 2025, growing at a CAGR of 6.61% during the forecast period 2020-2025. Animal genetics refers to the branch of genetics that deals with the study of genetic diversity and inheritance in domestic and wild animals. This includes gene expression, animal husbandry, and physical genetic traits such as coat color, body structure, and face shape, among others that depend entirely on genetics. Animal genetics is used to test DNA, test genetic traits, and track genetic diseases. Increasing consumption of animal-derived protein based dietary supplements and food among individuals across the globe are key factors to drive growth of the global animal genetics market. Rising disposable income, growing global population, rapid urbanization, and changing food consumption habits of individuals across the globe are some other factors estimated to support growth of the target market during the forecast period 2020-2025.

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By Live Animals - Segment Analysis

The global Animal Genetics market is segmented on the basis of live animals into Bovine, Canine, Porcine, Poultry, and others. The porcine segment registers for the highest market share in 2019 and is set to continue for the forecast period (2020-2025) owing to various factors, such as growing penetration of advanced genetic research and large consumer base for pork meat and its products. Furthermore, the segment is also estimated to grow owing to environmental factors such as comparatively limited land requirements and the low need for maintenance of animals.

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By Genetic Materials - Segment Analysis

The global Animal Genetics market based on genetic materials has Embryos and Semen. The embryos segment registers for highest market share in 2019 and is set to continue for the forecast period (2020-2025). The segment is set to emerge owing to the higher efficiency of the embryo compared to semen. Embryo transfer is primarily done to increase reproduction rates. The cost of importing the embryos is often lower as compared to semen and postnatal animals, and embryo makes it possible to change the breed of the entire herd within a single generation. However, the semen segment is estimated to grow at the fastest CAGR during the forecast period 2020-2025. This is owing to increasing adoption of semen sexing and AI for cattle, sheep, pigs, and goats breeding.

By Geography - Segment Analysis

The global Animal Genetics Market by geography had the dominant share in North America in terms of revenue in 2019 owing to high adoption rate for advanced genetic testing methods and high awareness about animal genetics in countries such as US and Canada in the region. However, Asia-Pacific is estimated to outpace all the regions by clocking the highest CGAR during the forecast period 2020-2025 owing to growing demand for meat and dairy products and increasing production and consumption of livestock products.

Drivers – Animal Genetics Market

Rise in Demand

The demand for Animal Genetics is driving forward owing to the increasing consumption of animal-derived protein based dietary supplements and food among individuals across the globe are key factors to drive growth of the global animal genetics market. Rising disposable income, growing global population, rapid urbanization, and changing food consumption habits of individuals across the globe are some other factors estimated to support growth of the target market during the forecast period 2020-2025. Moreover, increasing investments in research and development of novel drugs and vaccines by private and government bodies are projected to propel the market growth.

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Challenges – Animal Genetics Market

Stringent regulations

The stringent rules and regulations associated with animal breeding programs and genetic engineering experiments are anticipated to hamper the market growth of the Animal Genetics market. However, lack of skilled professionals in veterinary research field is estimated to disrupt the market growth for the forecast period (2020-2025).

Animal Genetics Industry outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Animal Genetics Market. Key companies of this market are Genus Plc, Topigs Norsvin, Envigo Corporation, CRV Holding B.V, Hendrix Genetics BV, Groupe Grimaud La Corbiere SA, Neogen Corporation, Alta Genetics Inc., Zoetis Inc, and Animal Genetics, Inc.

Acquisitions/Product Launches:

In July 2020, Neogen Corporation announced that it has launched advanced Soleris NG microbial testing system, which automatically detects microorganisms in a fraction of the time of traditional testing methods.

In November 2019, Zoetis Inc announced the acquisition of ZNLabs, a Nationwide Veterinary Reference Laboratory, to further strengthen its Comprehensive Diagnostics Portfolio.

Key Takeaways

Geographically, North America’s Animal Genetics market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to high adoption rate for advanced genetic testing methods and high awareness about animal genetics.

The growing global population, rapid urbanization, and changing food consumption habits of individuals across the globe are the factors estimated to support growth of the target market during the forecast period (2020-2025).

Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Animal Genetics Market report.

The stringent rules and regulations associated with animal breeding programs and genetic engineering experiments are anticipated to hamper the market growth of the Animal Genetics market.

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B. DNA Vaccines Market
https://www.industryarc.com/Report/16032/dna-vaccines-market.html

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