The size of the Animal Genetics Market in the MEA is estimated to be worth USD 0.45 billion by 2028 from USD 0.30 Billion in 2023. This market is showcasing a CAGR of 8.3% from 2023 to 2028.
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. It encompasses gene expression, animal breeding, and physical trait genetics such as coat color. At the commercial level, animal genetics is used for services such as genetic trait testing, DNA typing, and genetic disease testing.
There has been a rise in the demand and consumption of animal-based protein. Advanced genetic technology is being used to cater to these demands to increase production. In addition, the high prevalence of zoonotic diseases has fuelled the demand for high-end diagnostic methods such as genetic testing.
However, low returns on research and development (R & 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 factors hampering the market's growth.
This research report on the MEA animal genetics market has been segmented and sub-segmented into the following categories:
By Animal Genetic Product:
By Testing Service:
Regionally, this region's UAE and South African markets are expected to have a significant share of the market during the forecast period. The growing usage of advanced technologies towards genetics and genetic services for all quality breeds is influencing the animal genetics market growth of the MEA region. The rapid increase of animal diseases and moderate expansion of different zoonotic diseases surge the market growth.
At the same time, factors such as the shortage of experts in veterinary research are one factor restricting the market. In addition, the lack of technicians for conducting advanced genetic services and strict regulatory framework and rejecting effects for the utilization of genetic engineering on the different animals may hamper the animal genetics market of the MEA region.
KEY MARKET PLAYERS:
Genus Plc, Hendrix Genetics BV, Alta Genetics, CRV Holding B.V., Neogen Corporation, VetGen, Animal Genetics Inc., and Zoetis are some of the noteworthy companies in the MEA animal genetics market.
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