Increasing global population, rising demand for animal based products, and increasing export of live animals are some key factors expected to fuel Animal Genetics market growth.
Increasing global population, rising demand for animal based products, and increasing export of live animals are some key factors expected to fuel Animal Genetics market growth.
Emergen Research has published its latest report titled, “Animal Genetics Market By Live Animals (Porcine, Bovine, Poultry, Canine and Others), By Genetic Materials (Embryo, Semen) and By Services (Genetic Trait Testing, Genetic Disease Testing, DNA Type Testing) and By Region, Forecast to 2027”
According to Emergen Research, the global animal genetics market size was USD 6.44 billion in 2019 and is expected to reach USD 9.66 billion in 2027 and register a revenue CAGR of 5.2% during the forecast period, 2020-2027.
Market Dynamics:
Animal genetics is a branch of genetics used for studying animal heredity and genetic variations mainly in domestic and wild animals. It is one of the crucial aspects of livestock development which focuses on livestock genomics and breeding for enhanced production of farm animals. Livestock population provides humans with a wide range of products and services such as meat, eggs, milk, and fiber. There has been a rapid increase in the number of projects and research on animal genetics for identifying superior disease-resistant breeds and to cater to increasing prevalence of various animal diseases. Genetic trait testing, genetic disease testing, and DNA testing help in better understanding animal characterization, mutation, and genetic improvement.
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One of the key factors contributing to an increase in animal genetic testing is rising demand for high-quality animal-based products across the globe. Factors such as rapid advancements in animal genetics, high adoption of artificial insemination techniques, and rising need to increase livestock population to cater to increasing demand for animal-derived proteins are expected to fuel market growth during the forecast period. In addition, increasing funds for animal genetics research, rising investments in research and development activities and high focus on producing healthier food and animal products are other factors expected to fuel market revenue growth going ahead. However, lack of skilled professionals in veterinary research, high cost of animal testing, and stringent regulatory norms for animal genetic engineering are some key factors expected to hamper overall market growth to a certain extent during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Genetic Disease Testing Segment to Account for Significantly Larger Revenue Share:
The genetic disease testing segment is expected to account for a significantly larger revenue share over the forecast period. Factors such as increasing prevalence of animal genetic diseases, high demand for animal-based products, and rapid adoption of genetic testing for disease prevention are expected to drive revenue growth of the segment during the forecast period.
Poultry Segment to Register Steady Revenue Growth:
The poultry segment is expected to register a steady revenue growth over the forecast period owing to factors such as high demand for poultry meat and eggs across the globe, rapid growth in the poultry farming industry due to rising population and urbanization, and increasing funds for animal genetic research.
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North America to Lead In Terms of Revenue:
North America is expected to account for largest revenue share in the global market during the forecast period rapid advancements in animal genetics, increasing research-based activities on animal genetics, and increasing focus on improving breeding strategies for producing healthy animals. Other factors such as high demand for poultry and beef products, presence of leading market players, high disposable income, and increasing focus on developing personalized medicines for pets and livestock animals are expected to fuel North America market growth.
Major Companies in the Market Include:
- Genus Plc.
- Envigo Corporation
- Topigs Norsvin
- CRV Holding B.V
- Groupe Grimaud La Corbiere SA
- Hendrix Genetics BV
- Neogen Corporation
- Zoetis, Inc.
- URUS
- Animal Genetics, Inc.
For the purpose of this report, Emergen Research has segmented into the global animal genetics market on the basis of live animals, genetic materials and services:
Live Animals Outlook (Revenue, USD Billion; 2017-2027)
- Porcine
- Bovine
- Poultry
- Canine
- Others
Genetic Materials Outlook (Revenue, USD Billion; 2017-2027)
- Embryo
- Semen
Services Type Outlook (Revenue, USD Billion; 2017-2027)
- Genetic Trait Testing
- Genetic Disease Testing
- DNA Type Testing
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Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2030
Chapter 3. Key Insights
Chapter 4. Animal Genetics Market Segmentation & Impact Analysis
4.1. Animal Genetics Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Continued…
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