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Animal Genetics Market Trends

  • Report ID: GMI4953
  • Published Date: Aug 2023
  • Report Format: PDF

Animal Genetics Market Trends

The market is propelled by factors like increasing demand for high-quality protein, advancements in genetic research enabling enhanced traits, sustainable agriculture goals, and expanding global economies. Also, increasing focus on identifying superior disease-resistant breed in developing economies and the increased adoption of advanced genetic technologies for large-scale production and quality breeds in developed countries is also propelling the market. 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.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The animal genetics industry was valued at USD 4.7 billion in 2022 and is estimated to reach USD 8.4 billion by 2032 driven by the rising funding for animal genetics research, advancement in genetic technologies, and rise in implementation of animal welfare acts.

The DNA typing segment accounted for a 42.4% revenue share in 2022 and is expected to witness considerable growth at 5.3% CAGR from 2023-2032 owing to the rising need for accurate pedigree verification and traceability is pushing for advanced genetic identification methods.

The North America animal genetics market is anticipated to reach USD 3,220.3 million by 2032 attributed to the presence of a robust and well-developed livestock industry, including dairy and beef production, which is fuelling the demand for advanced genetics.

Some of the top companies engaged in the animal genetics industry are Zoetis, Genus plc, Hendrix Genetics BV, NEOGEN CORPORATION, Envigo, VetGen, CRV Ambreed, EasyDNA, TOPIGS NORSVIN, and Animal Genetics Inc.

Animal Genetics Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 10
  • Tables & Figures: 157
  • Countries covered: 24
  • Pages: 100
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