Market share and size of animal genetics

The global animal genetics market size was worth approximately $6.60 billion in 2023 and is expected to grow to approximately $12.65 billion by 2032, with a compound annual growth rate (CAGR) of roughly 7.50% between 2024 and 2032.

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The study of genetic variation and inheritance in both domesticated and undomesticated animals constitutes animal genetics. Animal genetics is concerned with physical genetic characteristics, including coat color, aspects of animal reproduction, and gene expression. Concepts and principles that are generative form the basis of animal genetics. To gain insight into the inheritance of different characteristics, the hybrid analysis method is mainly used. Furthermore, this approach is helpful in establishing the fundamental nature of inheritance with respect to an assortment of biochemical, physiological, and morphological traits.

Currently, a number of key variables are driving the animal genetics market to experience unprecedented growth. Several factors, including population growth, rising wages and changing dietary preferences, are contributing to this increase. The rising global demand for high-quality protein sources, such as meat, milk and eggs, is a major determining factor in this expansion.

As a result of this increased demand, greater emphasis has been placed on improving livestock efficacy and productivity through the adoption of genetic improvement programs. Furthermore, substantial advances in biotechnology and genomics have brought about a paradigm shift in animal reproduction practices.

These developments have enabled more precise selection and breeding of animals with desirable traits, including disease resistance, growth rate and feed efficiency. Furthermore, the increasing prevalence of livestock diseases and the demand for environmentally sustainable agricultural practices are driving the implementation of genetic technology to produce disease-resistant and environmentally friendly animal breeds. Furthermore, favorable government initiatives, substantial investments in research and development, and partnerships among industry participants are all contributing to the burgeoning growth of the market. Upon careful examination of the above-mentioned factors, it is clear that the animal genetics market is promising and expected to grow further in the near future.

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The global animal genetics market is segmented based on product, application and region

Global Animal Genetics Market: Product Segment Analysis

● Live animals
● Genetic material

Global Animal Genetics Market: Application Segment Analysis

● Tests for genetic diseases
● Genetic trait testing
● DNA typing
● Others

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The global Animal Genetics market profiles key players such as:

● Hendrix Genetica BV
● Neogen Corporation
● Genus plc
● Alta Genetics Inc.
● VetGen
● CRV Holding BV
● Zoetis Inc.
● Topigs Norsvin
●Animal Genetics Inc.
● Grimaud Group

Animal genetics market: a regional analysis

The regions comprising the Middle East and Africa, North America, Europe, Asia Pacific, and Latin America are categorized within this market based on regional considerations. Due to the well-established livestock sector, the presence of key market players in the region, and the high adoption rate of new technologies in animal genetics, the North America animal genetics market is expected to lead the industry during the forecast period. The expansion of urbanization, growing demand for animal products and the increase in the number of pet owners in Europe have collectively contributed to the continent’s emergence as the second largest market for animal genetics.

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