Animal Genetics Market

The report "Animal Genetics Market by Animal (Bovine, Porcine), Products & Services (Genetic Materials, Genetic Testing Services), Technology (PCR, NGS, rDNA, Microarray Technology), End User (Animal Farms, Veterinary Hospitals & Clinics) - Global Forecast to 2029", is anticipated to grow at a CAGR of 7.1% and register a growth from USD 2.97 billion in 2024 to USD 4.19 billion by the end of 2029. The growth in the market is mainly driven by advances in genetic technologies as well as distribution systems in the advanced regions of North America and Europe. Demand for livestock-based food products is slowly increasing and further fueling the use of genetically enhanced materials like semen and embryos. The breeding farms along with the animal food industry are taking up this solution to enhance productivity and meet the increasing expectations of the consumer in terms of productivity to produce food efficiently and sustainably.

Browse 370 market data Tables and 63 Figures spread through 360 Pages and in-depth TOC on "Animal Genetics Market by Animal (Bovine, Porcine), Products & Services (Genetic Materials, Genetic Testing Services), Technology (PCR, NGS, rDNA, Microarray Technology), End User (Animal Farms, Veterinary Hospitals & Clinics) - Global Forecast to 2029"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/animal-genetic-market-12462093.html

“Based on animal type, the bovine segment is expected to grow at the highest CAGR during the forecast period in the animal genetics market.”

The bovine segment in the animal genetics market is expected to record the highest growth within the forecast period mainly due to surging demand for high-quality dairy and meat products. Recent advancements in genetic technologies, like artificial insemination and embryo transfer, continue to encourage adoption of superior breeds with enhanced productivity and disease resistance. The increasing global population, now especially in the emerging economies, needs an increased investment in bovine genetics to meet the demand for sustainable livestock production.

“Based on products & services, the animal genetics materials segment accounted for the largest share in the animal genetics market.”

Animal genetic materials were subdivided into semen and embryos in 2023. Semen was the dominant segment since it received the highest demand primarily due to the existence of a critical need for genetically superior materials that permit breeding of livestock for improved productivity and higher conception rates. Other factors such as global demand for animal protein, awareness of the benefits of genetic developments of animal rearing, and tremendous growth in the pace of technology being introduced in techniques of animal breeding are also further propelling the growth of the segment. Among the leading companies working toward defining live animal genetics are Genus PLC (UK), Select Sires Inc. (US), and Urus (US) which innovate and propel the industry's expansion.

“On the basis of technology, the NGS segment accounted for the largest share in the animal genetics market.”

The largest share of the market is held by the NGS segment, primarily because the technology has developed to deliver high-throughput and accurate genetic analysis at a relatively lower cost per test. This method provides detailed insights into genetic traits, disease markers, and lineage, which are of benefits in advanced breeding programs and in animal health research. It has been used in the whole-genome sequencing and SNP genotyping, which has nowadays reduced genetic testing activities-its utilization in veterinary diagnostics and some research institutes as a preferred choice. Further increased accuracy in breeding demand, along with genomic tools in livestock management, will increase the adoption of NGS technology.

“Based on end user, the Animal Farm segment has accounted for the largest market share in the animal genetics market in 2023.”

In 2023, the Animal farm segment has accounted for the largest market share in the animal genetics market as the trend for yield and profitability from livestock is on an increasing trajectory. Rising animal-based product demand globally is increasing the demand for farms and, consequently, they opt for advanced genetic technologies so that high yielding and quality breeds for milk, meat, and eggs can be produced. Rising awareness of genetic traits better enhancing resistance to diseases and hardiness in the face of environmental shifts continues to support growth in this rate. Government initiatives complemented by private investment in agricultural modernisation continue to remain supportive for expansion in this segment in developing economies.

“Based on Region, Europe has accounted the largest market share in the animal genetics market.”

In 2023, the largest market is registered in Europe followed by North America and then Asia Pacific as in this region, advanced breeding technologies have been well-founded. Good high-value breeding programs of the advanced livestock along with strong establishments of institutes are available in this region. Extreme stress is put on innovation in genetic technologies. Huge investments in R&D and government initiatives for sustainable farming practices are some of the other attributes of catalyzing market growth. Europe witnesses huge demand for premium animal-derived food products, and strict regulatory frameworks ensure good quality productions of livestock. Some of the major market players in the animal genetics market include Neogen Corporation (US), Genus PLC (UK), Urus (US), and Groupe Grimaud (France).

Key Market Players

Neogen Corporation (US), Genus PLC (UK), Genetic Technologies Limited (Australia), Urus (US), Select Sires Inc. (US), Groupe Grimaud (France), CRV Holding (Netherland), Topigs Norsvin (Netherland), Zoetis, Inc.(US), Vetgenomics SL (Spain), Quantum Genetix (Canada), Animal Genetics, Inc. (US), LABOKLIN GmbH & Co. KG (Germany), Danbred P/S (Denmark), Tropical Animal Genetics (India), Inguran LLC dba STgenetics (US), Semex (Canada), Superior Animal Genetics (India), XxtoVet (Australia), Swine Genetics International (US), Generatio GmbH (Germany), Cogent Breeding Ltd (UK), Weatherbys Scientific (Ireland), Gensol Diagnostics, LLC (US), and Sandor Animal Biogenics Pvt. Ltd. (India).

Don’t miss out on business opportunities in Animal Genetics Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA : 1-888-600-6441
[email protected]