As per our report, the size of the global animal genetics market is projected to reach USD 7.0 billion by 2024, which was USD 4.7 billion in 2019, 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 the general principles of heredity, 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 methods of general genetics. At the commercial level, animal genetics is used for services such as genetic trait testing, DNA typing, and genetic disease testing.
MARKET DRIVERS
The global animal genetics market is anticipated to witness healthy growth during the forecast period, owing to the steep rise in the demand for and consumption of animal proteins and a rapidly increasing urban population all over the world. Producers are getting inclined toward animal genetics to breed high-quality livestock and secure large-scale production to meet the rising the global demands of animal products. A rapid increase in the number of animal diseases, the rising trend of possessing companion animals, and 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 are projected to propel the animal genetics market shortly.
Growing incidences of chronic diseases and rising expenditure on health care are greatly influencing the demand of the market. The adoption of the latest technologies and the launch of various innovative products is lavishing the growth of the global animal genetics market.
MARKET RESTRAINTS
The cost for installation and maintenance of the devices is a bit expensive, and this is restraining the demand of the market. 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.
REPORT COVERAGE
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REPORT METRIC |
DETAILS |
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Market Size Available |
2018 to 2024 |
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Base Year |
2018 |
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Forecast Period |
2019 to 2024 |
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Segments Covered |
By Animal Genetic Product, Testing Service and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
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
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 is leading 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 is dominating 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
Based on the testing service, the DNA testing based category is holding 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.
Regional Analysis:
North America 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.
Asia pacific was having 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.
TOP COMPANIES IN THE MARKET
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.
RECENT MARKET DEVELOPMENTS
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Animal Genetic product
5.1.1 Introduction
5.1.2 Live Animals
5.1.2.1 Poultry
5.1.2.2 Porcine
5.1.2.3 Canine
5.1.2.4 Bovines
5.1.2.5 Other Animals
5.1.3 Genetic Material
5.1.3.1 Semen
5.1.3.1.1 Bovine semen
5.1.3.1.2 Porcine semen
5.1.3.1.3 Canine semen
5.1.3.1.4 Equine semen
5.1.3.1.5 Other animals
5.1.3.2 Embryos
5.1.3.2.1 Bovine embryo
5.1.3.2.2 Equine embryo
5.1.3.2.3 Other animals
5.1.4 Y-o-Y Growth Analysis, By animal genetic product
5.1.5 Market Attractiveness Analysis, By animal genetic product
5.1.6 Market Share Analysis, By animal genetic product
5.2 Testing service
5.2.1 Introduction
5.2.2 DNA Typing
5.2.3 Genetic trait tests
5.2.4 Genetic disease tests
5.2.5 Y-o-Y Growth Analysis, By testing service
5.2.6 Market Attractiveness Analysis, By testing service
5.2.7 Market Share Analysis, By testing service
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Animal genetic product
6.1.3.3 By Testing service
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Animal genetic product
6.1.4.3 By Testing service
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Animal genetic product
6.1.5.3 By Testing service
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Genus Plc
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Hendrix Genetics BV
8.3 Alta Genetics
8.4 CRV Holding B.V.
8.5 Neogen Corporation
8.6 VetGen
8.7 Animal Genetics Inc.
8.8 Zoetis
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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