Animal Genetic Market to reach USD 13.15 Bn at a CAGR of 6.9 percent by 2030- Says Maximize Market Research

Maximize Market Research, a leading Service & Power business consultancy and research firm has published a report on the "Animal Genetic Market". The total market opportunity for the Animal Genetic Market was USD 8.24 Bn in 2023 and is expected to grow at a CAGR of 6.9 percent through the forecast period, reaching USD 13.15 by 2030. The Animal Genetic market size was estimated meticulously by using a bottom-up approach.

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Animal Genetic Market Scope and Research Methodology

Market Size in 2023: USD 8.24 Bn
Market Size in 2030: USD 13.15 Bn
CAGR: 6.9 Percent
Forecast Period: 2024-2030
Base Year: 2023
Number of Pages: 210
No. of Tables: 112
No. of Charts and Figures: 150

Segment Covered: By Product, Testing Service, and End Users

Regional Scope: North America, Europe, Asia Pacific, and Africa, South America

Report Coverage: Market Share, Size and Forecast by Revenue | 2023-2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players' Market Ranking Analysis.

Maximize Market Research has published an exclusive research report titled "Global Animal Genetic Market Size, Share, Pricing, Trends, Growth, Opportunities, and Forecast 2023-2030," that analyzes the Animal Genetic market on a global scale. The report provides crucial information about the target market, including future revenue projections, demands, regional analysis, key drivers, restraints, opportunities, and threats. It also offers insights into the prominent companies operating in the market, supply chain trends, financials, key developments, technological innovations, as well as future strategies, acquisitions, and mergers. While examining historical and future growth trends to provide a global perspective on the market, the report segments the Animal Genetic industry based on type, distribution channel, and region. The primary objective of this report is to assist industry professionals in the global animal genetic market by examining market developments and market position, identifying investment opportunities, and focusing on market drivers. This research delves into emerging business entrepreneurs, their strategies, and product developments that are driving the popularity of their offerings in both domestic and global markets. Furthermore, the report outlines essential tactics for capitalizing on opportunities and mitigating potential threats over the next decade and beyond.

Different research methodologies, including primary research, secondary research, bottom-up approaches, SWOT analysis, Porter's Five Forces analysis, and more, have been employed to study the Animal Genetic market.

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Animal Genetic Market Overview

Animal genetics is a branch of genetics focusing on the inheritance and diversity of genes among animals. It applies fundamental principles of heredity to various aspects including gene expression, animal breeding, and the genetics of physical traits. The animal genetic market refers to the dynamic economic sector involved in the study, manipulation, and commercialization of genetic traits in animals. The industry encompasses different services such as genetic testing, breeding programs, DNA analysis, and the development of Genetically Modified Organisms (GMOs). The global animal genetic market is anticipated to grow rapidly during the forecast year owing to the increasing demand and consumption of animal protein with rising population and disposable income worldwide. The market serves diverse participants in the industry including agricultural businesses, research institutions, biotechnology companies, and veterinary services, contributing to advancement in animal health, productivity, and sustainability.

Animal Genetic Market Dynamics

The animal genetics market is dynamic and influenced by technological innovation, regulatory landscapes, consumer demands, and global economic trends. The rising demand for animal proteins such as eggs, meat, milk, etc. with the growing population and rising disposable income worldwide drives the need for genetic improvement in livestock to enhance the productivity, disease resistance, and quality of animal products. The rising awareness and regulatory focus on animal welfare, health, and sustainability. With the help of genetic advancement, breeding of animals is possible that are more resilient to disease, require fewer antibiotics, and provide better health outcomes. The technological advancements in genetic sequencing and gene editing technologies like CRISPR-Cas9 have revolutionized the branch of genetics. These technologies enable precise manipulation and enhancement of desired genetic traits in animals. Regulatory agencies governing genetic modification and breeding practices such as the U.S. Food and Drug Administration (FDA), European Food Safety Authority (EFSA), etc. significantly impact the market dynamics of animal genetics. Compliance with ethical standards and regulatory framework is essential for the participants in the industry. Consumer trends play a crucial role in the market dynamics of animal genetics. Continuous shifting in consumer preferences towards sustainability and ethically produced animal products are influencing breeding decisions and genetic selection criteria.

Animal Genetic Market Regional Insight

North America held the largest global animal genetic market share in 2023 and is expected to dominate the market during the forecast period. This is attributed to the presence of key market players such as Zoetis, Neogen Corporation, and GeneSeek and the well-established healthcare infrastructure in the region. The increasing pet ownership across North American countries is expected to drive market growth. The rising prevalence of chronic diseases among animals in the region influences the demand for genetically modified animal products, which are further boosting animal genetic market expansion. Additionally, the region benefits from extensive research and development activities in animal genetics conducted by various universities and research institutions. In 2023, the United States led the North American animal genetics market, followed by Canada. These countries have advanced agricultural sectors with a strong focus on the genetic modification of livestock. Technological adoption, genetic research, and biotechnology play significant roles in shaping the market in these countries.

The Asia-Pacific animal genetics market is anticipated to register the fastest-growing market during the forecast period. The growing population and support from both public and private organizations leverage the market growth in the Asia-Pacific region. China is one of the largest markets for animal genetics due to its vast agricultural sector and growing demand for meat and dairy products. China focuses on genetic improvement in animals to increase the production efficiency and quality of animal products.

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Animal Genetic Market Segmentation

By Product

• Animal Product
a) Canine
b) Poultry
c) Porcine
d) Bovine
e) Others
• Genetic Material
a) Semen
b) Embryo (Above 10 Mw)

By Testing Service

• DNA Typing
• Genetic Trait Testing
• Genetic Disease Tests

By End Users

• Veterinary Hospitals & Clinics
• Research Centers & Institutes
• Others

Animal Genetic Manufacturers include:

1) Neogen Corporation
2) Genomia S.R.O
3) URUS
4) Zoetis
5) 1Hendrix Genetics
6) EW Group
7) CRV Holding
8) Topigs Norsvin
9) Envigo
10) Animal Genetics
11) vetGen
12) Genus PLC
13) Alta Genetics, Inc.
14) Animal Genetics Inc.
15) Coöperatie Koninklijke CRV u.a.
16) Aviagen Group
17) Genetic Veterinary Sciences Inc.
18) Groupe Grimaud
19) Others

𝐅𝐨𝐫 𝐚 𝐝𝐞𝐞𝐩𝐞𝐫 𝐮𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠, 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤: https://www.maximizemarketresearch.com/market-report/global-animal-genetic-market/31913/

Key questions answered in the Animal Genetic Market are:

• What is Animal Genetics?
• What is the current growth rate of the Animal Genetic Market?
• Who are the key players in the Animal Genetic Market?
• What are the factors affecting growth in the Animal Genetic Market?
• Who held the largest market share in the Animal Genetic Market?
• What is the demand pattern for the Animal Genetic Market?
• What are the key trends in the Animal Genetic Market?
• What are the strategies used by competitors in the Animal Genetic Market?
• What are the growth prospects in developing countries for the Animal Genetic Market?
• Which segment is expected to witness the fastest growth and why in the Animal Genetic Market?

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2023)
• Past Pricing and price curve by region (2018 to 2023)
• Market Size, Share, Size & Forecast by Different Segment | 2024-2030
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation - A detailed analysis by Product, Service, Component, End Users, and Region
• Competitive Landscape - Profiles of selected key players by region in a strategic perspective
 Competitive landscape - Market Leaders, Market Followers, Regional player
 Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

Maximize Market Research is leading Life Science research firm, has also published the following reports:

Global Genetic Testing Market: The market size was valued at US$ 20.57 Bn. in 2023 and the total revenue is expected to grow at 11.6% through 2024 to 2030, reaching nearly US$ 44.35 Bn.

Human Genetics Market: The market size was valued at USD 30.11 Bn. in 2023 and the total revenue is expected to grow at a CAGR of 18.1%, reaching nearly USD 96.50 Bn. in the forecasted period.

Contact Maximize Market Research:

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Pune Banglore Highway, Narhe,
Pune, Maharashtra 411041, India
sales@maximizemarketresearch.com
+91 9607365656

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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