Animal Genetics Market

Animal Genetics Market Size (2022 to 2027)

The global animal genetics market size is projected to reach USD 7.66 billion by 2027 and USD 5.1 billion in 2022. This market is estimated to be growing at a CAGR of 8.48% during the forecast period.

Animal genetics is a branch of genetics that deals with the study of inheritance and genetic variation, primarily in domestic and wild animals. Animal genetics is based on heredity's general principles, which encompasses areas such as gene expression, animal breeding, and physical trait genetics such as coat colour. Animal genetics uses hybrid, population, cytological, mathematical-statistical, ontogenetic, and twin general genetics methods. Animal genetics is used for services such as genetic trait testing, DNA typing, and genetic disease testing at the commercial level.

MARKET DRIVERS:

The steep rise in the demand for and consumption of animal proteins and a rapidly increasing urban population worldwide are majorly increasing the growth rate of the global animal genetics market.

Producers are getting inclined toward animal genetics to breed high-quality livestock and secure large-scale production to meet animal products' rising global demands. A rapid increase in the number of animal diseases, the increasing trend of possessing companion animals, and the high prevalence of zoonotic diseases have fuelled the demand for high-end diagnostic methods such as genetic testing. Moreover, increasing investments in research and development of novel drugs and vaccines by private and government bodies will propel the animal genetics market shortly.

Growing incidences of chronic diseases and rising expenditure on health care greatly influence the demand of the market. Adopting the latest technologies and the launch of various innovative products is lavishing the growth of the global animal genetics market.

MARKET RESTRAINTS:

The cost of installing and maintaining the devices is a bit expensive, restraining the market demand. Lack of knowledge over the utilization of the equipment is declining the growth of the market. Low returns on research and development (R&D), high cost of animal testing, stringent regulatory framework, and rising concerns about the adverse effects of using animal genetic engineering on animals are some of the restraints for the global animal genetics market.

Impact of COVID-19 on the global animal genetics market:

The COVID-19 pandemic became the most critical challenging thing for every sector across the world. Governments have imposed lockdown and set restrictions on the movement in the first half of 2020. Like other markets, the animal genetics market has faced a COVID-19 crisis. In developing countries, the challenge of this crisis is frightening as there is reducing imports due to restrictions on the movement. There is an increase in the price of the meat as there is an increasing shortage of meat and dairy product supplies during the lockdown period. Emerging countries like India, China, and others are severely affected due to the spread of COVID 19. However, with the unlock guidelines by government authorities, all the activities were resumed in the last months of 2020, which is anticipated to impact positively on the growth rate of the animal genetics market. 

REPORT COVERAGE:

This market research report on the global animal genetics market has been segmented and sub-segmented based on the animal genetic product, testing service, and region.

Animal Genetics Market - By Animal Genetic Product:

• Live Animals
  • Poultry
  • Porcine
  • Canine
  • Bovines
  • Other Animals
• Genetic Material
  • Semen
    • Bovine semen
    • Porcine semen
    • Canine semen
    • Equine semen
    • other animals
  • Embryos
    • Bovine embryo
    • Equine embryo
    • Other animals

Based on animal genetic products, the animal genetics market for live animals is primarily driven by the rising adoption of advanced genetic technologies for larger-scale production and quality breeds and growing awareness about veterinary genetic diseases and disorders.

Based on Live Animals type, the poultry segment leads with the highest shares of the market, whereas porcine is growing at a faster rate from the past few years. The rise in the consumption rate of meat is boosting up the demand of the market.

Among various sub-segments of genetic material, the Semen genetic material dominates with the most significant shares of the market. Increasing priority for animal protein and advanced genetic practices is magnifying the demand of the market.

Animal Genetics Market - By testing service:

• DNA Typing
• Genetic Trait Tests
• Genetic Disease Tests

Based on the testing service, the DNA testing-based category holds the highest shares of the market. The growing number of genetic diseases and demand for early diagnosis is primarily fuelling the growth of the market.

Animal Genetics Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Geographically, the North American market is accounted for the most significant shares of the global animal genetics market due to the rise in the revenue in most of the countries is considered a key factor for the growth of the market. Europe is next to North America is dominating the highest shares of the market. Increasing demand for the production of quality breeds is broadening the need of the market.

The Asia Pacific has the fastest growth rate from the past few years, and it is expected to continue the same growth rate in foreseen years. The growing geriatric population and support from private and public organizations are leveraging the demand for this market. The Middle East and Africa are deemed to have substantial growth opportunities in the coming years.

KEY MARKET PARTICIPANTS:

Key players operating in the global animal genetics market include Genus Plc, Hendrix Genetics BV, Alta Genetics, CRV Holding B.V., Neogen Corporation, VetGen, Animal Genetics Inc., and Zoetis.

SOME OF THE RECENT NOTABLE HAPPENINGS IN THIS MARKET:

• In February 2020, Neogen Corporation announced that it has entered into a partnership with food industry blockchain pioneer Ripe Technology to adapt innovative blockchain technology for use with Neogen’s food safety diagnostics and animal genomics. 
• In January 2020, Neogen Corporation announced that it has acquired Products Quimicos Magiar – a distributor of Neogen’s food and safety diagnostics with business in Argentina and Uruguay. 
• In January 2020, Neogen corporation confirmed that it has entered into a partnership with genetic testing company Gencove to develop Neogen’s next generation of animal genomic tests. 
• In March 2014, Pawprint genetics and VetGen reached a settlement related to a patent lawsuit filed by paw genetics. This paw print genetics will offer a test for Von Willebrand Disease, an abnormal blood clotting in dogs.