The Asia Pacific Animal Genetics Market was worth USD 736 million in 2016 and estimated to be growing at a CAGR of 9.2%, to reach USD 1.14 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. It is bases on the principles of heredity.
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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Growth in the Asia-Pacific market is largely driven by the rising demand of animal-derived products, increase in the population of livestock animals, and implementation of animal welfare acts. In order to meet the rising demand for animal products, producers are resorting to animal genetics so as to breed high-quality livestock and secure large-scale production.
An increase in the cases of animal diseases has further boosted the growth of the market. However, high cost of animal testing, low returns on R&D are some restraints of the market.
The Asia-Pacific 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 Asia-Pacific market is analysed under various regions namely India, China, Japan, Australia and South Korea. Countries in Asia Pacific such as China, Japan, and India are poised to be highly promising markets for animal genetics in the near future and are expected to project the highest CAGR’s.
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Key players operating in the Asia-Pacific 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
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- 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
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