Animal Genetics Market Analysis on the Basis of Current Market Demand, Growth Rate, New Trends and Key Players
Overview:
The Animal
Genetics Market is anticipated to reach USD 5,515.72 Million by 2030 at
6.90% CAGR during the forecast period 2022-2030. The market is known for its
intense coverage of the study of genetic variation and inheritance. This
includes primarily for domestic and wild animals. Animal genetics includes
several sides like genetic disease testing, DNA typing, and genetic trait
testing that can benefit diverse industries. This method mostly tries to
determine the state of diseases in various animals owing to which the
consumption of animal products may get affected.
Major influencer impacting the intake of animal genetics is
the rising consumption of animal-derived protein, which gets bolstered by
booming population and rapid urbanization. The need for the superior breed is
also emerging as a decisive factor for the market. This can also boost the
toxicology market. But the high cost of these testing can impact the global
market growth. The stringent regulatory framework can also play a crucial role
in holding back the normal growth rate.
Lack of skilled professionals can also deter the market from having its
normal growth structure.
Competitive Landscape:
The influential contributions to the Animal
Genetics Market Players are URUS (US), Neogen Corporation (US), Genus
(UK), Groupe Grimaud (France), EW Group (Germany), Topigs Norsvin
(Netherlands), CRV Holding B.V. (The Netherland), vetGen (US), Hendrix Genetics
BV (The Netherland), Zoetis (US), Envigo (US), Alta Genetics (US), Animal
Genetics (US), and others. These players are known for their extensive
contributions to developing the market dynamics that can impact the global
market scenario. MRFR’s profiling is expected to bring out insights regarding
how the market may shape up.
In December 2019, the genetic index with predictions for
dairy cattle lifespan has been released after the revamping to make the
predictions more precise. The new model includes an observing period of -305 to
+305 days to attain precision.
Segmentation:
The Global Animal Genetics Market, as per the report, has
been segmented with a strong foundation in services, animal genetic products, and
end-user. This segmentation is targeting specific details with the potential of
triggering the growth rate in the coming years.
By animal genetic products, the market report considers the
animal genetics market upon segmenting it into genetic materials and live
animals. The live animals segment includes bovine, porcine, canine, poultry,
and others. The genetic materials have been further segmented into semen and
embryo.
By services, the animal genetics market report covers gene
trait tests, DNA typing, genetic disease tests, and others. These segments are
finding it easier to percolate the research industry as they offer a better
grip on the data.
By the end-user, the market for animal genetics market has
been segmented into research centers & institutes, diagnostic centers,
veterinary hospitals & clinics, and others. The research centers &
institutes can inspire growth.
Regional Market
The Americas have the chance to lead the market as the
region is witnessing a strong surge in its investment sector. The regional
market is known for its high intake of animal protein through various types of
animal products owing to which companies are investing much in developing
strategies for the research and development sector. It is getting further
traction from the hike in the speed of urbanization, which is transforming
lives and creating more opportunities for the market to permeate. Increasing
artificial insemination in animals like pigs, sheep, cattle, and goats can fuel
growth. In Europe, the regional market can exploit the favorable market
dynamics and ensure strong growth for itself. The rise in genetic diseases can
make sure the research sector spends more money to score well in the coming
years.
The Asia Pacific market has placed itself as a country that can
grow with the fastest CAGR during the forecast period. This can benefit from
the growing population of livestock and the inclusion of advanced DNA typing
and genetic testing tools that inspires better testing facilities.
Periodontal Therapeutic Market Research
Report – Forecast to 2027
Smart Pills Market Research Report -
Forecast to 2027
About US:
Market Research Future (MRFR) enable customers to unravel
the complexity of various industries through Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
Contact us:
Market Research Future (part of Wantstats Research and Media
Private Limited),
99 Hudson Street,5Th Floor, New York,
New York 10013
Comments
Post a Comment