Global Animal Genetic Market Booming Set to Grow with CAGR of 8.9% By 2026

Posted by peeterdbmr on December 17th, 2019

Global Animal Genetic Market is expected to rise from its estimated value of USD 4.39 billion to an estimated value of USD 8.68 billion by 2026 registering a CAGR of 8.9% in the forecast period of 2019-2026.

Key Market Competitors: Global Animal Genetic Market

Few of the major market competitors currently working in the animal genetics market are NEOGEN CORPORATION, Zoetis, Envigo, Animal Genetics Inc., VetGen, Groupe Grimaud, Hendrix Genetics BV, EW Nutrition GmbH, Alta Genetics Inc., Genus, Topigs Norsvin, CRV Holding B.V., URUS, Trans Ova Genetics., Inguran LLC dba STgenetics.,  Semex, Beacon Automation Pty Ltd., Cogent, EVOLUTION International , Genex Services, LLC, Rockway, Inc., River Valley Dairy., ABS GLOBAL, INC., Anicam Enterprises Inc., Milk Source. among others

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Animal genetics is the branch of science which deals with the study of inheritance and gene variation in domestic and wild animals. Animal genetics are mostly used for genetic trait testing, DNA testing, and genetic disease traiting. The animal genetics market is expected to increase due to the fast demand, ingesting of animal proteins, and surge in urban population, which shows demand for meat products across the globe during the forecast period.

Competitive Analysis: Global Animal Genetic Market

global animal genetics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of global animal genetics market for Global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

Segmentation: Global Animal Genetic Market

• By Product (Live Animals (Poultry, Porcine, Bovines, Canine, Others)
• By Genetic Material (Semens, Embroys))
• By Genetic Testing Services (DNA typing, genetic trait tests, genetic disease tests, and others),
• By Geography (North America, South America, Europe, Asia-Pacific and Middle East and Africa)

Market Drivers

• Growing consumer demand for animal-derived protein based supplements and food among people across the globe serves as a major stimulant for rising demand of animal genetics.
• Rising focus on classifying superior breeds using genetic engineering to obtain high reproduction rates will contribute towards the growth of this market.
• Rising global population and rapid urbanization, rising disposable income, with increased standards of living, changing consumer food habits have contributed towards the growth of global animal genetic market.
• Inventions in phenotyping services
• Growing pharmaceutical outsourcing
• Rising adoption of advanced genetic technologies for massive scale production and quality breeds.

Market Restraints

• Dearth of skilled professionals in veterinary research
• Strict Government regulations for animal genetics

Reasons to Purchase this Report

• Current and future of global animal genetic market outlook in the developed and emerging markets
• The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
• Regions/Countries that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies that are employed by the major market players

Customization of the Report:

• All segmentation provided above in this report is represented at country level
• All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)

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