Animal Genetics Market Size, Growth, Market Analysis, Segmentation, And Forecast To 2033

"The new report published by The Business Research Company, titled ""Animal Genetics Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the animal genetics market size has grown strongly in recent years. It will grow from $6.29 billion in 2023 to $6.76 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The animal genetics market size is expected to see strong growth in the next few years. It will grow to $9.11 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%.

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Rising Demand for Animal Protein Fuels Growth in the Animal Genetics Market
The increasing demand for animal protein is expected to propel the growth of the animal genetics market going forward. Animal protein refers to the protein derived from animal sources such as meat, poultry, fish, eggs, and dairy products. There is a growing preference for protein-rich diets, particularly in developed countries, driven by health consciousness, fitness trends, and cultural preferences. Animal genetics helps increase animal protein production by enabling the selection and breeding of animals with superior traits, such as higher muscle mass, disease resistance, and improved reproductive efficiency, leading to more efficient and productive livestock farming. For instance, according to revised data published in December 2023 by the Food and Agriculture Organization, an Italy-based specialized agency of the United Nations, global meat production increased steadily from 350 million tons in 2021 to 355 million tons in 2022. Therefore, the increasing demand for animal protein is driving the growth of the animal genetics market.

Integration of Artificial Intelligence in Animal Genetics
Major companies operating in the animal genetics market are developing innovative platforms by integrating artificial intelligence (AI) to identify desirable traits more accurately and efficiently. AI is used to predict and detect genetic disorders at early stages, allowing for timely interventions and reducing the incidence of hereditary diseases in animals. For instance, in April 2022, Zoetis, a US-based animal health company, introduced its latest diagnostics innovation by adding artificial intelligence (AI) blood smear testing to its multi-purpose platform, Vetscan Imagyst. This technology uses deep machine learning AI to provide accurate and efficient blood smear analysis, supplementing complete blood count (CBC) results and helping veterinarians make better treatment decisions for animals with hematologic abnormalities. The AI-driven analysis in Vetscan Imagyst can clarify abnormalities, provide an estimated platelet count, verify white blood cell differentials, and identify and count polychromasia, among other details, all within minutes.

The animal genetics market covered in this report is segmented -

1) By Type: Animal Genetics Products, Genetic Materials, Embryo
2) By Service: Genetic Disease Tests, DNA Typing, Genetic Trait Tests, Other Services
3) By Animal Type: Cattle, Pigs, Sheep And Goats, Companion Animals, Other Animals
4) By End User: Veterinary Hospitals and Clinics, Academic And Research Institutes, Animal Breeders, Pet Owners

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Major companies operating in the animal genetics market are Zoetis Services LLC, CRV, Genus, Neogen Corporation, Groupe Grimaud , URUS Group LP, Cobb-Vantress Inc., Topigs Norsvin, Hendrix Genetics BV, Accelerated Genetics, Cogent Breeding, Alta Genetics Inc. , ABS Global, Trans Ova Genetics, Embark Veterinary Inc., Tropical Bovine Genetics, EW Group , Wisdom Panel, VetGen, Animal Genetics Inc. , Paw Print Genetics, Orivet, EasyDNA, Sandor Animal Biogenics Pvt. Ltd., SEK Genetics

Contents of the report:
1. Executive Summary
2. Animal Genetics Market Report Structure
3. Animal Genetics Market Trends And Strategies
4. Animal Genetics Market - Macro Economic Scenario
5. Animal Genetics Market Size And Growth
…..
27. Animal Genetics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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