Animal Genetics Market Size, Global Share, Industry Trends and Report 2023-2028

How Big Is the 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.

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What is Animal Genetics?

Animal genetics is a specialized field for studying heredity and variation in animal species. It involves examining deoxyribonucleic acid (DNA) sequences, gene expression, and genetic traits to understand the genetic makeup of various animal species. It encompasses quantitative genetics, molecular genetics, and population genetics. It helps advance veterinary medicine to enhance livestock production, preserve endangered species, and contribute to conservation biology. It is utilized in various industries like pharmaceuticals and agriculture for improving crop yields through better pollination. It is also employed in pet breeding to produce animals with specific temperaments and appearances.

Industry Trends and Drivers:

The rising consumption of animal-based protein sources, such as pork and beef, represents one of the major factors impelling the market growth. Additionally, the development of clustered regularly interspaced short palindromic repeats (CRISPR) genome editing technology is bolstering the growth of the market. Besides this, the growing awareness of biodiversity conservation, leading to the adoption of animal genetics in wildlife preservation projects, is offering a favorable market outlook. Moreover, the increasing implementation of regulatory frameworks for ethical and responsible genetic research is supporting the market growth. In addition, the rising trend in pet adoption among individuals is contributing to market growth. Furthermore, the growing focus on improving animal health among pet owners is positively influencing the market. Apart from this, rising adoption of ethical and sustainable animal farming practices to prevent animal cruelty are contributing to the market growth.

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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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This release was published on openPR.