Overview:
The Global Animal Genetics Market Size is projected
to reach USD 5.58 billion by 2030 at a CAGR of 6.9% during the forecast period
2022-2030. Market Research Future (MRFR) identifies 2018 to 2023 as the
forecast period. The market is known for its intense coverage of the study of genetic
variation and inheritance. This includes primarily for domestic and wild
animals. Animal genetics includes several sides like genetic disease testing,
DNA typing, and genetic trait testing that can benefit diverse industries. This
method mostly tries to determine the state of diseases in various animals owing
to which the consumption of animal products may get affected.
Major influencer impacting the intake of animal genetics is the rising consumption of animal-derived protein, which gets bolstered by booming population and rapid urbanization. The need for the superior breed is also emerging as a decisive factor for the market. This can also boost the toxicology market. But the high cost of these testing can impact the global market growth. The stringent regulatory framework can also play a crucial role in holding back the normal growth rate. Lack of skilled professionals can also deter the market from having its normal growth structure.
Competitive
Landscape:
Global Animal Genetics Market
Players making influential contributions to the market
are URUS (US), Neogen Corporation (US), Genus (UK), Groupe Grimaud
(France), EW Group (Germany), Topigs Norsvin (Netherlands), CRV Holding B.V.
(The Netherland), vetGen (US), Hendrix Genetics BV (The Netherland), Zoetis
(US), Envigo (US), Alta Genetics (US), Animal Genetics (US), and others. These
players are known for their extensive contributions to developing the market
dynamics that can impact the global market scenario. MRFR’s profiling is
expected to bring out insights regarding how the market may shape up.
Segmentation:
The Global Animal Genetics Market
insights, as per the report, has been segmented with a
strong foundation in services, animal genetic products, and end-user. This
segmentation is targeting specific details with the potential of triggering the
growth rate in the coming years.
By animal genetic products, the market report
considers the animal genetics market upon segmenting it into genetic materials
and live animals. The live animals segment includes bovine, porcine, canine,
poultry, and others. The genetic materials have been further segmented into
semen and embryo.
By services, the animal genetics market report
covers gene trait tests, DNA typing, genetic disease tests, and others. These
segments are finding it easier to percolate the research industry as they offer
a better grip on the data.
By the end-user, the market for animal genetics
market has been segmented into research centers & institutes, diagnostic
centers, veterinary hospitals & clinics, and others. The research centers
& institutes can inspire growth.
Regional Market
The Americas have the chance to lead the market as
the region is witnessing a strong surge in its investment sector. The regional
market is known for its high intake of animal protein through various types of
animal products owing to which companies are investing much in developing
strategies for the research and development sector. It is getting further
traction from the hike in the speed of urbanization, which is transforming
lives and creating more opportunities for the market to permeate. Increasing
artificial insemination in animals like pigs, sheep, cattle, and goats can fuel
growth. In Europe, the regional market can exploit the favorable market
dynamics and ensure strong growth for itself. The rise in genetic diseases can
make sure the research sector spends more money to score well in the coming
years.
The Asia Pacific market has placed itself as a
country that can grow with the fastest CAGR during the forecast period. This
can benefit from the growing population of livestock and the inclusion of
advanced DNA typing and genetic testing tools that inspires better testing
facilities.
About US:
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complexity of various industries through Cooked Research Report (CRR),
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