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Animal Genetics Market 2023-2028 | Size, Global Share, Industry Growth and Report
Animal Genetics Market
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.
What is Animal Genetics?
Animal genetics involves the examination and analysis of the genetic material, such as deoxyribonucleic acid (DNA) and genes, in animals. It encompasses the study of genetic variations within and between species, as well as the mechanisms by which these variations are inherited. It allows breeders to select animals with desirable traits, such as disease resistance, high productivity, and improved characteristics, to create healthier and more productive animal populations. It enables researchers to assess genetic diversity, identify populations at risk, and design effective conservation strategies to maintain genetic variability and prevent extinction. It also plays an important role in optimizing livestock production and improving meat quality, milk yield, and disease resistance, thus benefiting the agricultural industry.
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Global Industry Trends and Drivers:
At present, the increasing demand for animal genetics as it aids in unraveling evolutionary relationships, migration patterns, and population dynamics of wildlife, providing insights into animal ecology and behavior, represents one of the crucial factors impelling the growth of the market. Besides this, the rising employment of animal genetics in aquaculture to improve the growth rate, disease resistance, and overall quality of farmed fish and shellfish is contributing to the growth of the market. In addition, the growing focus on improving the efficiency of livestock production, reducing resource consumption, and minimizing the environmental impact is offering a favorable market outlook. Apart from this, the increasing adoption of pets among the masses is propelling the growth of the market.
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What Is Included In Market Segmentation?
The report has been segmented the market into following categories:
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
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
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.
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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