The North America Animal Genetics Market was worth USD 1.06 billion in 2016 and estimated to be growing at a CAGR of 7.1%, to reach USD 1.5 billion by 2021.
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Animal genetics is a branch of genetics that involves the study of inheritance and genetic variation, primarily in domestic and wild animals. It is based on general principles of heredity and covers various areas like gene expression, animal breeding, and physical trait genetics such as coat colour.
With a rise in the consumption of animal derived protein and the rising urban population demanding meat products are the major factors driving the market.
To meet these demands, farmers are resorting to advanced genetic technology to achieve large scale production. Growing awareness about veterinary genetic diseases and disorders; increase in the population of livestock animals, especially in emerging markets; implementation of animal welfare acts in developed countries; and development of cutting-edge technologies in animal genetic testing are also contributing to the growth of this market.
Strict regulations pertaining to animal genetic engineering, costly R&D projects and lack of skilled professionals are some factors restraining the growth of the market.
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The North 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 North America market is analysed under various regions namely U.S.A and Canada. North America holds a considerable share in the market due to presence of a superior animal health care base, increasing trend of pet ownership, strong regional economics, and greater focus on disease prevention and wellness by veterinarians and pet owners.
The health care expenditure in U.S.A has also increased considerably over the past few years.
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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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