News

Animal Genetics Market will be growing at a CAGR of 6.6% during the forecast 2018 to 2026

The latest market report published by Acute Market Reports, Inc. “Animal Genetics Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global animal genetics market was valued at US$ 4,186.3 Mn in 2017 and expected to reach US$ 7,477.3 Mn by 2026, expanding at a CAGR of 6.6% from 2018 to 2026.

Market Insights

The global animal genetics market is anticipated to witness prominent yet steady growth during the forecast period from 2018-2026. Increasing the global population has led to increased consumption of animal proteins, this, in turn, has been assisting the growth of the global animal genetics market. Furthermore, the progress of the genetic technologies and applications and growing awareness about maintaining optimal animal health are some other factors driving the animal genetics market. Stringent regulations and high costs involved may hold back the market growth.

Browse Full Report Originally Published by Acute Market Reports at https://www.acutemarketreports.com/report/animal-genetics-market

Based on the product types, the live animal’s segment shall be the major segment fuelling the market growth. The demand for animal meat from cattle, pork and goats and increased urbanization support the demand for this segment. High costs and time involved in selective breeding also have led to the emergence of live animal testing for animal genetics. Among the services, genetic disease testing shall be the major segment determining the market trends. Growing awareness regarding animal health, and increasing genomic testing for prevention of loss from large scale breeding of such population drive this segment. Geographically, North America holds the largest revenue share for animal genetics. Increasing pet ownership, extensive animal husbandry and poultry industry and higher expenditure rates support the dominance of the region. On the other hand, due to the growing awareness, improving R&D facilities and increasing CRO activities are some of the key factors that drive the swift growth of the Asia Pacific market.

The key players are engaged in several collaborations, agreements, and merger activities for ensuring the swift commercialization of their novel solutions while building their stronghold on the market. High entry barriers also restrict the entry of new players to a considerable extent.

Key Market Movements:

Growing demand for safe, healthy and more nutritious protein sources and milk
High risk of genetic diseases in cattle, horses, and poultry
Significant advancement in the field of veterinary genetics in determining disease risk
The challenge of a long time and cost consumption through traditional breeding methods

List of Companies Covered:

Zoetis, Inc.
AG Inc.
Hendrix Genetics
Grimaud Groupe
CRV Holding B.V.
Envigo (Harlan Laboratories, Inc.)
EW Group GmbH
Genus PLC
Neogen Corporation
Vetgen
Topigs Norsvin

Market Segmentation:

By Sample Type

• Live Animals

o Avian

o Bovine

o Porcine

o Equine

o Canine

o Others

• Genetic Material

o Embryo

 Bovine

 Equine

 Others

o Semen

 Bovine

 Canine

 Porcine

 Equine

 Others

o Others

By Service Type

• DNA Typing

• Genetic Trait Tests

• Genetic Disease Tests

By Geography Segment Type

North America (the U.S., Rest of North America)
Europe (U.K., Germany, France, Rest of Europe)
Asia Pacific (China, Japan, India, Rest of Asia Pacific)
Rest of the World (the Middle East & Africa, Latin America)

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