Global Animal Genetics Market Drivers, Restraints, Potential Growth Opportunities, Product Size, Application Estimation, Vendor Competitive Landscape, Trends and Forecast 2020-2030

The global Animal Genetics market is anticipated to increase at a 6.9% CAGR to reach value $ 5,515.72 Million in 2030

Factors responsible for the growth of animal genetics market are increase in the focus on recognizing the appropriate breeds, developed genetic technologies for the quality breeds and large-scale production, rise in the genetic services adoption, rapid urbanization and growing population worldwide and increase in the consumption of animal-derived protein. Though, technicians performing the advanced genetic services and lack of skilled professionals in veterinary research are the factors restricting the animal genetics market growth.

Global animal genetics market is highly uneven and is based on the launch of new product and products clinical results. However, key players are using several strategies like clinical trials, new product launches, agreements, clinical trials, partnerships, joint ventures, market initiatives, acquisitions, large expense on the research and development and increase in the footprints in the animal genetics market growth. Global animal genetics market is expected to experience the healthy growth over the forecast period, due to the increase in the demand for the consumption of animal proteins and quickly increasing the urban population across the world.

To meet the increase in the animal products, manufacturers are focusing towards the animal genetics to the variety of high-quality cattle and safe production. Increase in the occurrence of animal diseases, zoonotic diseases and increase in the trend of companion animals have boosted the demand for global animal genetics market. In addition, growing investments in the research & development activities of novel vaccines and drugs by government and private bodies are anticipated to fuel the animal genetics market growth in the coming years. Moreover, increase in the advancement of innovative tools and growth in the population of livestock animals, specifically in the developing regions are fueling the growth of animal genetics market. Although, expensive animal testing, increase in the concerns about harmful effects, strict rules and less funding on the research and development are some of the limitations for the growth of global animal genetics market.

Rise in the acceptance of genetic technologies and implementation of acts of animal welfare are fueling the animal genetics market. In the same way, rise in the population of breeding animals and increase in the awareness for veterinary diseases are increasing the demand for proteins derived by animals will further boost the growth of animal genetics market. Although, strict rules for the animal genetic engineering, shortage of the skilled professionals and expensive animal testing are responsible for the animal genetics market growth. Asia Pacific is offering opportunities for the animal genetics market growth because of the growth in the development of animal welfare acts, animal population and products derived by animals over the forecast period.

Global animal genetics market is segmented into procedure, animal type, animal genetic testing service and region. On the basis of procedure, market is divided into genetic disease tests, genetic trait tests and DNA typing. Based on animal type, market is divided into equine, canine, bovine, porcine, poultry and more.

Geographically, regions involved in the animal genetics market are Europe, North America, Asia Pacific, Latin America and Middle East & Africa. Europe is holding the largest global animal genetics market share followed by North America. Asia Pacific is the rapidly growing region and is expected to increase in the coming years.

Key players involved in the global animal genetics market are Envigo, Groupe Grimaud, Alta Genetics, NEOGEN CORPORATION and Hendrix Genetics.

Animal Genetics Market Scope

Key Segments in the “Global Animal Genetics Market” are-

By Procedure, market is segmented into:

• Genetic disease tests
• Genetic trait tests
• DNA typing

By Animal Type, market is segmented into:

• Equine
• Canine
• Bovine
• Porcine
• Poultry
• Others

By Regions market is segmented into:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa