The Latin America Animal Genetics Market was worth USD 368 million in 2016 and estimated to be growing at a CAGR of 8.7%, to reach USD 558.4 million 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 uses hybrid, population, cytological, mathematical-statistical, ontogenetic, and twin methods of general genetics.
At the commercial level, animal genetics is used for services such as genetic trait testing, DNA typing, and genetic disease testing.
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A rise in the demand to consume animal based protein is surely to drive this market during the forecast period. In order to cater to these demands, the manufacturers are switching to genetic technologies which will help in large scale production.
There has a rise in the trend of having animals as pets and the increase in the number of cases of animal diseases is also boosting the market. 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 factors hampering the growth of the market.
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The Latin America 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 Latin America market is analysed under various regions namely Brazil, Mexico, Argentina and rest of the Latin America. This region is expected to register a high CAGR.
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Key players operating in the animal genetics market include Genus Plc, Hendrix Genetics BV, Alta Genetics, CRV Holding B.V., Neogen Corporation, VetGen, Animal Genetics Inc., and Zoetis.
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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