Animal Genetics Market: Global Market Sales, Consumption, Demand and Forecast 2021 – 2027
The efforts undertaken by healthcare companies to develop advanced genetic solutions for quality breeds will support the demand for animal genetics globally. Genetically superior breeds show traits that include disease resistance and fertility.
Many government organizations are offering funds for animal welfare, for instance, the Animal Welfare Board of India supports animal welfare and has emerged as one of the largest funding organizations, globally. It offers grants that are used to rescue animals, birth control and immunization, construction of their shelter homes, and the maintenance of sheltered animals.
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As per reports, the global animal genetics market size is projected to surpass USD 6.4 billion in terms of valuation by 2027.
With respect to the type of animal, the industry is segmented into bovine, canine porcine, poultry, and others. The canine segment has witnessed considerable growth in the few years due to the growing research regarding high-quality breeds among dogs. The National Human Genome Institute revealed insights into the evolution of modern dog breeds.
Genetic research on canines has grown at a steady pace, leading to the development of various genes that are involved in personality traits, coat color, and size, fostering expansion in the global animal genetics market.
Geographically speaking, Asia Pacific has emerged as a profitable revenue pocket and accounted for over 20% of the total animal genetics market share in the year 2020. This is due to the growing demand for effective testing of genetic diseases among animals.
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The rising livestock population along with the advancement in DNA typing and genetic testing equipment across APAC has propelled the need for genetic trait tests, supporting the regional market growth. Growing awareness among the people regarding the need to ensure animal health coupled with the increase in the number of various animal genetic ailments will positively influence the market growth.
Concerning the service types, the animal genetics sector is bifurcated into DNA typing, genetic disease tests, and genetic trait testing. Genetic trait testing has witnessed enormous adoption as it allows individuals to manage their risk and understand various inherited genetic disorders.
Animal genetics companies are constantly working towards improving their offerings to meet the changing demands of the people. The market players are entering into partnerships, alliances, and acquisitions as well, when possible.
In May 2019, Genus plc joined hands with Beijing Capital Agribusiness to develop pigs that are resistant to respiratory and porcine reproductive syndrome virus. This has helped the company widen its presence. Other prominent animal genetics companies include VetGen, Neogen, Zoetis, Envigo, Hendrix Genetics, Genus, and CRV Ambreed, to name a few.
Partial Chapter of the Table of Content
Chapter 2 Executive Summary
2.1 Animal genetics industry 3600 synopsis, 2016 – 2027
2.1.1 Business trends
2.1.2 Animals trends
2.1.3 Service type trends
2.1.4 Regional trends
Chapter 3 Animal Genetics Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.1.1 Increasing focus on identifying superior disease-resistant breed in developing economies
3.3.1.2 Rising demand for animal-derived protein across the globe
3.3.1.3 Increased adoption of advanced genetic technologies for large-scale production and quality breeds in developed countries
3.3.1.4 Rising R&D investments to produce healthier food and milk products from livestock animals
3.3.2 Industry pitfalls and challenges
3.3.2.1 Shortage of skilled professionals in veterinary research
3.4 Growth potential analysis
3.4.1 By animals
3.4.2 By service type
3.5 COVID-19 impact analysis
3.6 Porter’s analysis
3.7 PESTEL analysis
3.8 Competitive landscape, 2020
3.8.1 Company matrix analysis, 2020
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