Animal Genetics Market to Grow at a Substantial Rate During Forecast Period
Rising demand for animal protein-based products and changing
food preferences of people to drive global animal genetics market
According to TechSci Research report, “Global Animal Genetics Market By
Animal Type (Poultry, Porcine, Piscine, Bovine, Canine, Others (Goat, Sheep,
Horse)), By Genetic Materials (Embryo, Semen), By Services (DNA Typing, Genetic
Trait Tests, Genetic Disease Tests, Others), By Region, Forecast &
Opportunities, 2025”, the global
market for animal genetics is anticipated to witness substantial growth during
the forecast period. Animal genetics or veterinary genetics is the study of genes,
gene expression and various breeding habits of animals. Due to the change in
food preferences of people, demand for animal protein-based supplements has
increased over the last few years, which has led to significant growth in the
market. Skewed attention in the favor of identification of superior and
healthier breeds by adopting advanced genetic approaches like embryo transfer
and artificial insemination in order to achieve better reproduction is bolstering
the market growth. Also, the motive of mass production of quality breeds to obtain
animal protein-based products involves extensive usage of genetic engineering,
thereby fueling the market growth. The market for animal genetics is gaining traction
also due to increasing population and robust urbanization and rising living
standards. However, scarcity of competent professionals in the field of
veterinary research and strict rules and regulations imposed by the government
regarding genetic experiments on animals are likely to hinder the market
growth.
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Global animal genetics market is segmented based on animal
type, genetic materials, services, company, and region. The animal type segment
is further divided into poultry, porcine, piscine, bovine, canine and others which
include goat, sheep and horse. Porcine was the dominating segment in the year
2019 as pork meat and its products have gained popularity among meat consumers.
Porcine are low maintenance animals and need limited land for breeding, which
is a major factor for their dominance in the market. However, poultry segment
is the fastest growing segment owing to the low chances of food-related
diseases and pocket friendliness. Additionally, to reduce environmental
disbalance, governments have been making efforts to shift people from red meat
to white meat. This shift has led to more consumption of white meat that is
obtained from poultry, thereby fueling the segment growth during the forecast
period. Based on services, the market is segmented into DNA typing, genetic
trait tests, genetic disease tests, and others. Out of these, genetic disease
tests segment is expected to lead the market through 2025 owing to increased
adoption of these tests by farmers to avoid the loss of livestock productivity.
The dominance of the segment can also be attributed to the prevailing trend of
pet ownership, mainly in the developed countries.
In terms of regional analysis, North America accounted
for the largest share of global animal genetics market in the year 2019 and the
trend is expected to continue in the coming years as well. The research
organizations in the region carry out extensive research on animal genetics,
which is a major factor responsible for the dominance of the region in the
market. North America was followed by Europe, which registered lucrative growth
on account of high percentage of pet owners in the region. European Pet Food
Industry Federation stated that more than 75 million households owned a pet in
the year 2017. However, Asia-Pacific region is expected to grow at the fastest
pace during the forecast period. The growth can be attributed to the rising
veterinary care services in hospitals as well as in centers at community level.
In conjunction to this, rising demand for dairy products can also be held
responsible for the high CAGR of the region.
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Some of the leading players in global animal
genetics market include Genus Plc, Topigs Norsvin, Envigo Corporation, CRV
Holding B.V, Hendrix Genetics BV, Grimaud La Corbiere SA, Neogen Corporation, Alta
Genetics Inc., Zoetis, Inc, Animal Genetics, Inc., VetGen Healthcare
Private Limited, EW Nutrition GmbH, Trans
Ova Genetics, etc. Acquisitions and mergers are some of the strategies adopted
by the leading players to hold their position in the market. For instance, in
the year 2017, Groupe Grimaud La Corbiere SA sold its broiler genetics
division, Hubbard, to the Aviagen Group. Both the groups benefitted from the
merger, as the combined skillset and expertise resulted in enhanced output
along with producing lucrative results. The merger also paved the way for
Aviagen Group to expand its product portfolio. The next year, Neogen Corporation
acquired Livestock Genetic Services, which is a firm focused on genetic
evaluations for cattle breeding, which helped Neogen
Corporation to expand its capabilities of genetic evaluation.
“Global animal genetics market is anticipated to witness significant growth during
the next five years as technology has enabled various complex procedure to be
carried out easily. Governments all over the world are taking actions to
promote animal genetics keeping in mind the health of animals and to improve
their breeding habits. For instance, in May 2019, Australian government lifted
the ban from the use of CRISPR technology for gene editing of animal and plants.
This move is expected to fuel the growth of the animal genetics market as the
technology promises cancer curing remedies and promotes fast breeding in
animals.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Global Animal Genetics Market By Animal Type
(Poultry, Porcine, Piscine, Bovine, Canine, Others (Goat, Sheep, Horse)), By
Genetic Materials (Embryo, Semen), By Services (DNA Typing, Genetic Trait
Tests, Genetic Disease Tests, Others), By Region, Forecast & Opportunities,
2025” has evaluated the future growth potential of global animal
genetics market and provided statistics & information on market size, shares,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in global animal genetics market.
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