Animal Genetics Market is Expected to Reach $9.5 billion | MarketsandMarkets.


Chicago, Aug. 22, 2023 (GLOBE NEWSWIRE) -- In the near future, the animal genetics industry is poised to undergo transformative changes driven by rapid advancements in genetic engineering technologies such as CRISPR-Cas9. This evolution will likely lead to the development of animals with enhanced traits, including disease resistance, improved product quality, and heightened productivity. The industry's focus on ethical considerations and sustainability will intensify, leading to the creation of animals that are not only more resilient and resource-efficient but also align better with evolving consumer preferences for ethically produced and environmentally friendly products. Precision livestock farming will integrate genetic insights with digital innovations, fostering a data-driven approach to animal care and management. Regulatory frameworks will play a crucial role in shaping the responsible application of these technologies, while ongoing public discourse will navigate the societal implications of genetically modified animals.

Animal Genetics market in terms of revenue was estimated to be worth $6.6 billion in 2023 and is poised to reach $9.5 billion by 2028, growing at a CAGR of 7.4% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. Various factors responsible for the market growth are demand for live animals from farmers, animal breeders, and the animal food industry and the rising demand for genetic materials to produce animals of superior breeds that are high-yield and disease-resistant.

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Animal Genetics Market Scope:

Report Coverage Details
Market Revenue in 2023 $6.6 billion
Estimated Value by 2028 $9.5 billion
Growth Rate Poised to grow at a CAGR of 7.4%
Market Size Available for 2021–2028
Forecast Period 2023–2028
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By product & service
Geographies Covered North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa
Report Highlights Updated financial information / product portfolio of players
Key Market Opportunities Innovations in phenotyping services
Key Market Drivers Growing global population and rapid urbanization

Animal Genetics market major players covered in the report, such as:

  • Neogen Corporation (US)
  • Genus (Uk)
  • Urus (US)
  • EW Group Gmbh (Germany)
  • Groupe Grimaud (France)
  • CRV Holdings (Netherlands)
  • Topigs Norsvin (Netherlands)
  • Zoetis (US)
  • Envigo (US)
  • Hendrix Genetics (Netherlands)
  • Animal Genetics (US)
  • VetGen (US)
  • Danbred (Denmark)
  • Tropical Bovine Genetics (India)
  • EasyDNA (Us)
  • Inguran LLC Dba St Genetics (US)
  • Semex Alliance (Canada)
  • Superior Animal Genetics (India)
  • Cobb-Vantress (US)
  • Milk Source (US)
  • Eurogene AI Services (Ireland)
  • Agri-Gene (Australia)
  • Accelerated Genetics (US)
  • Viking Genetics (Sweden)
  • Indical Bioscience (Germany)
  • and Among Others

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The study categorizes the animal genetics market based on type, application, end user and regional & global level.

Global Animal genetics Market, by Product & Service

  • Animal Genetic Products                                             
    • Live Animals                      
      • Poultry
      • Porcine
      • Bovine 
      • Canine 
      • Other live animals           
    • Genetic Materials                           
      • Semen 
      • Bovine
      • Porcine
      • Equine
      • Canine
      • other animal semen
    • Embryos             
      • Bovine
      • Equine
      • Other animal embryos
  • Animal Genetic Testing Services                               
    • Genetic Disease Tests                   
    • Genetic Trait Tests                          
      • Bovine 
      • Other animal genetic trait tests
    • DNA Typing                        
    • Other services                  

Global Animal genetics Market, by region

  • North America
    • US
    • Canada
  • Europe
    • France
    • Germany
    • UK
    • Spain
    • Italy
    • Netherlands
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa

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The key stakeholders in the Animal Genetics market include:

  • Animal genetics companies
  • Animal breeders
  • Research institutes and academic centers
  • Contract research organizations (CROs)
  • Government associations
  • Milk and meat producers
  • Market research and consulting firms
  • Venture capitalists and investors

Recent Developments:

  • In March 2023, URUS Group collaborated with Genetics Australia. The JV will be 60 percent owned by URUS and 40 percent owned by Genetics Australia (GA). It will have access to the full suite of GENEX products and access to the PEAK program.
  • In January 2023, Zoetis collaborated with VAS to give farmers better compatibility crossover between Vas's PULSE platform, a broad farm management cloud-based software, and DairyComp, a herd health system with Zoetis's CLARIFIDE genetic and fertility testing.

Frequently Asked Questions (FAQs) of Animal Genetics Market:

What are emerging trends in the animal genetics market?
Increasing R&D investments and government funding, rising research collaboration and partnerships and changing dynamics in the Chinese porcine market are emerging trends in the animal genetics market.

What are the drivers and opportunities for the animal genetics market?
Increasing consumption of animal-derived protein and dairy products and growing global population and rapid urbanization are the major drivers and untapped market potential in developing countries and innovations in phenotyping services are the major opportunities in the animal genetics market.

What are technological advancements in the animal genetics market?
Gene editing, precision phenotyping and artificial intelligence (AI) are technological advancements in the animal genetics market.

Which is the leading type segment with the largest share in the animal genetics market?
The animal genetic products segment holds the largest share of the animal genetics market in 2022, primarily due to the high global demand for live animals from the animal food industry and the high adoption of genetic materials by breeders. 

Which segment is estimated to grow at the highest CAGR in animal genetics market?
Animal genetic testing services segment is estimated to grow at the highest CAGR in animal genetics market by end user.  Growth in this segment can be attributed to growing awareness of veterinary genetic diseases and disorders, the high cost associated with veterinary genetic diseases, and the increasing DNA testing carried out for canine.

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Report Objectives:

  • To define, describe, and forecast the animal genetics market by product & service and region
  • To strategically analyze the industry trends, technology trends, pricing analysis, regulatory scenario, supply/value chain, ecosystem/market map, Porter’s Five Forces, trade & patent analysis, key stakeholders & buying criteria, and conferences & events
  • To provide detailed information about the factors influencing market growth (drivers, restraints, opportunities, and challenges)
  • To analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall market
  • To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
  • To forecast the market size based on region in Europe, North America, the Asia Pacific, Latin America, and the Middle East and Africa
  • To strategically profile key players in the animal genetics market and comprehensively analyze their core competencies
  • To track and analyze competitive developments such as acquisitions, product launches, approvals, expansions, and partnerships
  • To analyze the impact of the recession on the animal genetics market

Related Reports:

Veterinary Equipment Market

Veterinary Diagnostics Market

Veterinary Reference Laboratory Market

Companion Animal Pharmaceuticals Market

Molecular Diagnostics Market

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