The Global Animal Genetics Market was worth USD 3.68 billion in 2016 and estimated to be growing at a CAGR of 8.4%, to reach USD 5.5 billion by 2021.
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Animal genetics is a branch of genetics that deals with the study of inheritance and genetic variation, primarily in domestic and wild animals. Animal genetics is based on general principles of heredity.
It encompasses areas such as gene expression, animal breeding, and physical trait genetics such as coat colour.
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At the commercial level, animal genetics is used for services such as genetic trait testing, DNA typing, and genetic disease testing.
The global animal genetics market is anticipated to witness healthy growth during the forecast period, owing to steep rise in the demand for and consumption of animal proteins and rapidly increasing urban population all over the world. In order to meet the rising global demand for animal products, producers are getting inclined toward animal genetics so as to breed high-quality livestock and secure large-scale production.
Rapid increase in the number of animal diseases, rising trend of possessing companion animals, and high prevalence of zoonotic diseases have fuelled the demand for high-end diagnostic methods such as genetic testing.
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Moreover, increasing investments in research and development of novel drugs and vaccines by private and government bodies are projected to propel the animal genetics market in the near future. However, low returns on research and development (R&D), high cost of animal testing, stringent regulatory framework, and rising concerns about negative effects of using the animal genetic engineering on animals are some of the restraints for the global animal genetics market.
The Global market for Animal Genetics is broadly categorized into Animal genetics products and testing service. Animal genetics product is further segmented into live animals (Poultry, Porcine, Bovines and Canine) and Genetic material.
Genetic material is further segmented into Embryos (Bovine and Equine) and Semen (Bovine, Porcine, Canine and Equine). The live animals segment accounted for the largest share of the market.
The animal genetics market for live animals is primarily driven by the rising adoption of advanced genetic technologies for larger-scale production and quality breeds and growing awareness about veterinary genetic diseases and disorders. By testing service, it is further segmented into DNA typing, Genetic trait tests and Genetic disease tests.
On the basis of geography, the market is analysed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. Europe is the largest regional segment of the global animal genetics market followed by North America.
The major share of this region can be attributed to the growing demand of animal-derived products, highly developed animal healthcare system, and presence of a large number of animal breeding and genetic testing companies in this region. However, the Asia-Pacific region represents the fastest-growing market for animal genetics, primarily due to the increasing population, rapid urbanization, increased demand of animal products, increased awareness towards animal welfare in developing countries, and adoption of advanced animal genetic testing services.
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Animal Genetics Market Segmentation:
Animal Genetic product
- Live Animals
- a) Poultry
- b) Porcine
- c) Canine
- d) Bovines
- e) Other Animals
- a) Bovine semen
- b) Porcine semen
- c) Canine semen
- d) Equine semen
- e) Other animals
- a) Bovine embryo
- b) Equine embryo
- c) Other animals
- Y-o-Y Growth Analysis, By animal genetic product
- Market Attractiveness Analysis, By animal genetic product
- Market Share Analysis, By animal genetic product
- DNA Typing
- Genetic trait tests
- Genetic disease tests
- Y-o-Y Growth Analysis, By testing service
- Market Attractiveness Analysis, By testing service
- Market Share Analysis, By testing service
Scope of the report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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