Animal Genetics Market Size By Animals (Canine, Porcine, Poultry, Bovine), By Service Type (DNA Typing, Genetic Trait Testing, Genetic Disease Tests), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Industry trends

Animal Genetics Market size exceeded USD 4.2 billion in 2020 and is projected to grow at over 6.6% CAGR between 2021 and 2027.
 

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Growing funding for animal genetics research, advancement in genetic technologies, and rise in implementation of animal welfare acts will drive the market growth during the forecast timeframe. Also, rising focus of animal genetics providers on producing poultry animals with higher productivity to meet the growing demand for dairy products and meat will influence the market expansion. However, the COVID-19 pandemic in its early days raised many concerns around consumption of animal products, thus negatively affecting the market. Additionally, as most of the parts of the world were in total lockdown to tackle infection spread, many businesses suffered including the animal genetics industry.
 

Rising focus on identifying superior disease-resistant breed will escalate the market demand

Researchers in animal genetics field have identified elements within genes that are responsible to enhance animal health, growth, and ability to utilize nutrients in animals. These genetic advances increase production while reducing environmental impacts. Livestock and animals contribute to the food security and livelihoods of almost a billion people globally and contribute around 40% of the global value of agricultural output. Thus, identification and production of disease-resistant breed using animal genetics is vital for growing population. Also, the COVID-19 pandemic that originated in Wuhan and gradually spread across the world has resulted in millions of casualties. The pandemic has shown the importance of safe and healthy eating habits. Thus, animal genetics has become an important part of the agriculture concerned with animals that are raised for meat, milk, fibre, eggs, and other products.
 

Growth in poultry farming for meat and dairy products will spur the animal genetics market revenue

The poultry segment accounted for more than USD 1.4 billion in 2020. There is a substantial rise in the demand for superior quality foods such as eggs, meat and milk compared with food of plant origin. The change in consumption pattern coupled with rising population and urbanization have led to increase in the demand for poultry farming industry. Since, poultry animal products are in high demand and will constantly grow, it will also propel the overall market value during the forecast period.
 

Growing adoption of selective breeding in animals will offer significant growth opportunities to the market

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The DNA typing segment held 43% of the market share in 2020. DNA typing has application in domestic animals for identification and parentage control. It is also used for the diagnosis of genetic diseases and for the sexing of animals, thus augmenting the segment growth. Furthermore, increasing acceptance of selective breeding for desirable traits will the raise the demand for animal genetics services, thereby fostering the market expansion.
 

Increasing pet adoption and companion animal care in North America region will accelerate the market growth

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North America dominated the global animal genetics market, where the U.S. represents major regional share for animal genetics services. The region is expected to grow at over 5% CAGR till 2027 on account of the increased spending on pet health enabled by high disposable incomes and growing research on animal genetics. Moreover, rising pet acceptance and personalized medicines for pets will also act as a driver for the market. 
 

Rising animal genetics services offering by prominent industry players have helped them maintain a strong position in the market

Some of the prominent industry leaders functioning in the market include Zoetis, Genus, Neogen Corporation, Hendrix Genetics, Animal Genetics, CRV, Topigs Norsvin, Envigo, VetGen, EasyDNA, and others. The industry is concentrated with the presence of numerous international as well as the local market participants. These companies are undertaking several organic and inorganic growth strategies to capture a higher revenue share in this industry.
 

Some of the recent industry developments:

• In January 2020, Neogen Corporation announced partnership with Gencove to enhance company’s next generation of animal genomics tests. This strategy enabled the company to enter into this industry and extend its product portfolio.
   
• In October 2019, Zoetis announced acquisition of Phoenix Lab, to impel its offering in veterinary diagnostics. Through this acquisition, Zoetis provided comprehensive diagnostic services and products. This strategy helped the company in widening its product offerings and attract larger customer base in the market.
   

The animal genetics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027, for the following segments:

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Market, By Animals, 2016-2027 (USD Million)

• Canine
• Poultry
• Porcine
• Bovine
• Others

Market, By Service Type, 2016-2027 (USD Million)

• DNA Typing
• Genetic Trait Testing
• Genetic Disease Tests

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • The Netherlands
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE