Animal Genetics Market Destine to Experience Substantial Growth of USD 10.63 billion by 2030
Data Bridge Market research has a newly released expansive study titled “Global Animal Genetics Market ” which guarantees you will remain better informed than your competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases survival and success in the market.
Data Bridge Market Research analyses that the animal genetics market, valued at USD 5.92 billion in 2022, will reach USD 10.63 billion by 2030, growing at a CAGR of 9.7% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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The market for animal genetics is anticipated to expand quickly during the forecasted period. One of the key components of livestock development is animal genetics, along with nearby animal health, nutrition, and husbandry issues such as housing. On a local, national, regional, and international level, it covers a wide range of activities, including characterization, conservation, and genetic advancement. Measures taken to lessen the genetic diversity loss in livestock populations, such as halting the extinction of breeds, are referred to as the conservation of animal genetic resources. These factors will consequently lead to a rise in the market’s demand for animal genetics.
The commercial market for breeding, selecting, and manipulating animal genetics for a variety of uses, such as livestock production, pet breeding, and research, is referred to as the “animal genetics market.” It entails using genetics and genomics technologies to enhance advantageous traits in animals, such as productivity, disease resistance, reproductive efficiency, and genetic quality in general. The market offers a wide variety of goods and services, such as genetic analysis and testing, production, and distribution of semen and embryos, animal breeding services, and genetic consulting.
Drivers
- Focus on sustainable and efficient livestock production surge the market growth
The focus on sustainable and efficient livestock production is a driver in the global animal genetics market due to growing concerns about environmental sustainability and resource efficiency. By utilizing genetics, breeders can develop animals that are more efficient in converting feed into products, such as meat or milk, reducing the overall environmental impact of livestock production. These genetically improved animals require fewer resources, produce less waste, and emit fewer greenhouse gases per unit of output. This focus aligns with the broader sustainability goals of reducing the ecological footprint of agriculture while meeting the increasing demand for animal-based products in a responsible and environmentally conscious manner.
- Increasing adoption of precision breeding techniques drives the market
The increasing adoption of precision breeding techniques is driving the global animal genetics market. Techniques such as artificial insemination, embryo transfer, and in vitro fertilization offer precise control over the selection and transmission of desirable genetic traits in animals. Breeders can strategically match superior genetic material, enhancing the quality and productivity of offspring. This targeted approach improves breeding outcomes, including traits related to disease resistance, growth rate, milk production, and meat quality.
Recent Developments
- In 2022, Neogen Corporation and Gencove launched InfiniSEEK, a cost-effective solution for genome sequencing and targeted Single Nucleotide Polymorphism (SNP) analysis. The InfiniSEEK can manage more than 400 bovine genetic traits and conditions.
- In 2022, Zoetis acquired Basepaws, a petcare genetics company. This acquisition enhances the company’s portfolio in genetic testing and data analytics in advancing animal care.
- In 2021, Tropic Biosciences and Genus PLC had formed a strategic partnership to work on Tropic Biosciences’ Gene Editing Induced Gene Silencing (GEiGS) technology for porcine and bovine genetic applications.
- In 2021, In order to demonstrate the potential effects of the cow-calf management system for the use of the sex-skewed semen and the terminal genetics, ABS Global announced a partnership with Bair Ranch.
- In 2020, Hendrix Genetics and Solidaridad have announced a partnership for a sustainable poultry program in Zambia and Mozambique.
- In 2020, Neogen and Gencove have announced a partnership to create advanced animal genomics.
Some of the major players operating in the animal genetics market are:
- Neogen Corporation (U.S.)
- Genus (U.K.)
- URUS Group LP. (U.S.)
- EW Group Ltd (Germany)
- GROUPE GRIMAUD LA CORBIERE (France)
- Topigs Norsvin (Netherlands)
- Zoetis (U.S.)
- Envigo Marketing Private Limited (U.S.)
- Hendrix Genetics BV (Netherlands)
- Animal Genetics Inc. (U.S.)
- VetGen (U.S.)
- Tropical Bovine Genetics (India)
- Trans Ova Genetics (U.S.)
- Inguran LLC dba STgenetics (U.S.)
- SEMEX (Canada)
- Cobb-Vantress, Inc. (U.S.)
- Milk Source (U.S.)
- Eurogene AI Services (Ireland)
- CRV (Netherlands)
- EW Nutrition (Germany)
- Trans Ova Genetics. (U.S.)
- Beacon Automation Pty Ltd. (Australia)
- GENEX Cooperative (U.S.)
- ABS . (U.S.)
- ANICAM ENTERPRISES INC (U.S.)
To Gain More Insights into the Market Analysis, Browse the Summary of the Research Report@ https://www.databridgemarketresearch.com/reports/global-animal-genetics-market?Shri
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the this research report
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Top Key Topics Covered:
- Strategic Imperatives
- Factors Creating Pressure on Growth
- The Strategic Imperative
- Growth Opportunities Fuel the Growth Pipeline Engine
- Research Methodology
- Scope and Segmentation
- Research Context and Scope of Analysis
- Segmentation
- Other Techniques for This Research Report Management
- Growth Opportunity Analysis
- Growth Drivers
- Growth Restraints
- Introduction
- The Impact of the COVID-19 Pandemic and Post
- Future Growth
- Innovation Ecosystem
Continued…
Animal Genetics Market Scope
The animal genetics market is segmented on the basis of product, service, material and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Live Animals
- Poultry
- Porcine
- Bovine
- Canine
- Others
Service
- Genetics Disease Tests
- Genetic Trait Tests
- Bovine Trait Tests
- Others
- DNA Typing
- Others
Material
- Semen
- Bovine Semen
- Porcine Semen
- Equine Semen
- Canine Semen
- Others
- Embryos
- Bovine Embryos
- Equine Embryos
- Others
End-User
- Veterinary Hospitals and Clinics
- Research Centres and Institutes
- Others
Browse Detailed Summary of Research Report with TOC: https://www.databridgemarketresearch.com/toc/?dbmr=global-animal-genetics-market&Shri
Some of the Most Important Questions Scrutinized in the Business Intelligence Report:
- What are the key growth parameters for this global market during the forecast period?
- Which key players are expected to hold the largest market share over the forecast period?
- Who are the leading vendors and manufacturers in this market?
- What are the key strategies adopted by leading players in the market for business development and geographical expansion?
- Which end-use industries can trigger high demand in the market over the forecast period?
- What are the key segments in this market?
- Which regional player will have anticipated leading the global market in terms of size?
- What is the impact of the novel coronavirus pandemic?
- Which obstacles must new players overcome in order to occupy a major position?
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