The size of the Animal Genetics Market in North America was worth USD 1.33 billion in 2022. This value is estimated to be growing at a CAGR of 7.1% to reach USD 1.87 billion by 2027.
Animal genetics is a branch of genetics that involves studying inheritance and genetic variation, primarily in domestic and wild animals. It is based on heredity's general principles and covers gene expression, animal breeding, and physical trait genetics such as coat color.
The major factors driving the market are a rise in animal-derived protein consumption and the rising urban population demanding meat products. To meet these demands, farmers are resorting to advanced genetic technology to achieve large-scale production. Growing awareness about veterinary genetic diseases and disorders; increase in the population of livestock animals, especially in emerging markets; implementation of animal welfare acts in developed countries; and development of cutting-edge technologies in animal genetic testing are also contributing to the growth of this market.
Strict regulations about animal genetic engineering, costly R&D projects, and a lack of skilled professionals are restraining the development of the North American animal genetics market.
This research report on the North American animal genetics market has been segmented and sub-segmented into the following categories:
By Animal Genetic Product:
By Testing Service:
Geographically, the North American animal genetics market held the largest share in the global market in 2020 and is forecasted to continue the dominance throughout the forecast period due to the presence of an excellent animal health care base, increasing trend of pet ownership, strong regional economies, and a greater focus on disease prevention and wellness by veterinarians and pet owners. In addition, the health care expenditure in the U.S. has also increased considerably over the past few years.
KEY MARKET PLAYERS:
A few promising companies operating in the North American animal genetics market profiled in this report are Genus Plc, Hendrix Genetics BV, Alta Genetics, CRV Holding B.V., Neogen Corporation, VetGen, Animal Genetics Inc., and Zoetis.
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