At 6.3% CAGR, The Global Animal Genetics Market Estimated to Record the Highest Revenue of US$ 7,705.23 million by 2027 - The Insight Partners

According to our new research study on "Animal Genetics Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Product, Genetic Material, Services, and Geography," the global animal genetics market size is expected to reach US$ 7,705.23 million by 2027 from US$ 4,778.67 million in 2019; it is estimated to grow at a CAGR of 6.3% during 2019-2027. The report highlights trends prevailing in the market and factors driving its growth. The animal genetics market growth is attributed due to growing focus on identifying superior breeds, increased adoption of genetic services to prevent genetic diseases and business loss, and increased adoption of advanced genetic technologies, and rising adoption of progressive genetic practices such as artificial insemination (AI) and embryo transfer. However, a limited number of skilled professionals in veterinary research may hinder the growth of market.

Animal genetics are used for genetic trait testing, DNA testing, and genetic disease treatment. Animal genetics is one of the best mainstays of livestock development (alongside animal nutrition, animal health, and husbandry). According to the Food and Agriculture Organization of the United Nations, it is a broad field, ranging from characterization to maintenance to genetic improvement, and involves activities at local, national, regional, and global scales

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The list of companies operating in this report are:
NEOGEN Corporation, HENDRIX GENETICS BV, Zoetis Inc., geneOmbio Technologies Pvt Ltd, Genus, TOPIGS NORSVIN, Envigo, VetGen, ANIMAL GENETICS INC., ALTA GENETICS INC., and Groupe Grimaud are among the leading companies in the animal genetics market. The animal genetics market share is anticipated to flourish with the development of new innovative products by market players.

In October 2020, Hendrix Genetics and Solidaridad entered into a partnership to provide sustainable poultry production in Mozambique and Zambia, Africa. Solidaridad is a local African poultry farming company that has secured access to the poultry genetics technologies from Hendrix Genetics.
In September 2020, Tropic Biosciences, the pioneering agricultural-biotechnology company, entered into a collaboration with Genus to explore the application of Tropic's Gene Editing induced Gene Silencing (GEiGS) technology in porcine and bovine genetics.
In March 2019, Hendrix Genetics and Salmones Aysen partnered by signing a genetic service agreement. This partnership deal will offer Salmones Aysen, a Chile-based coho salmon producer, genetic and breeding support for their exclusive coho salmon strain in Chile.

Furthermore, the market is segmented based on type, application, and region in order to study it exhaustively and provide the data in a systematic manner. Speaking of competitive landscape, the study includes a list of leading companies along with their product and service offerings, strategic decisions, SWOT analysis, latest developments, market share captured, growth rate, and valuation. The challenges faced by these companies are analyzed and solutions for them are given as well.

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Rising Incidences of Brain Tumors Contributes Significantly to Market Growth
Animal Genetics Market: Segmental Overview
Product-Based Insights
The global animal genetics market, based on product, is segmented into poultry, porcine, bovine, canine, and others. The porcine segment held the largest share in 2019 and is expected to witness the fastest CAGR during 2019-2027.

Genetic Material-Based Insights
The global animal genetics market, based on genetic material, is bifurcated into semen and embryo.
The embryo segment held a larger in 2019. However, the semen segment is expected to witness a higher growth during 2019-2027.

Service-Based Insights
The global animal genetics market, based on service, is segmented into DNA typing, genetic trait tests, genetic disease tests, and others. The DNA typing segment held the largest share in 2019. However, the genetic disease tests segment is expected to witness the fastest growth rate during 2019-2027.

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Animal Genetics market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
Several market forces such as drivers and restraints and political, social, economic and technological advancements help shape up the industry in specific manner. All such forces are studied in detail to arrive at a market forecast which can help build the investment strategies in Brain Cancer

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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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