The report "Animal Genetics Market by Products & Services (Live Animals (Poultry, Porcine, Bovine, Canine) Genetic Material (Semen (Bovine, Porcine), Embryo (Bovine, Equine)) Genetic Testing (DNA Testing, DNA Typing, Genetic Disease Testing)) - Forecast to 2023", The global animal genetics market is projected to reach USD 5.8 billion by 2023 from USD 4.2 billion in 2018, at a CAGR of 6.5 % during the forecast period. Factors such as rising consumption for animal-derived protein, growing population and rapid urbanization across the globe, increased adoption of genetic services and advanced genetic technologies for larger-scale production and quality breeds, and growing focus on identifying superior breeds are likely to boost the growth of the market. However, shortage of skilled professionals in veterinary research and technicians for performing advanced genetic services is a major factor restraining the growth of this market.

Browse 229 market data Tables and 31 Figures spread through 241 Pages and in-depth TOC on "Animal Genetics Market by Products & Services (Live Animals (Poultry, Porcine, Bovine, Canine) Genetic Material (Semen (Bovine, Porcine), Embryo (Bovine, Equine)) Genetic Testing (DNA Testing, DNA Typing, Genetic Disease Testing)) - Forecast to 2023"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/animal-genetic-market-12462093.html

By semen type, bovine semen segment is expected to grow at the highest CAGR during the forecast period.

On the basis of type, the semen market is categorized into bovine semen, porcine semen, canine semen, equine semen and semen for other animals such as sheep, goat, and cat. Bovine semen is expected to grow at the highest CAGR during the forecast period. This is attributed to the growing demand for meat and milk across the globe, and the increasing need to produce high yielding cattle to cater to the growing global demand. This is also propelled by the huge amount of bovine semen being traded internationally for the artificial insemination of cows subsequent to the opening of trade regulations across the globe.

By embryo type, bovine embryo segment is expected to dominate during 2018-2023.

On the basis of type, the embryo market is categorized into bovine embryo, equine embryo and other animal embryo (sheep, goat and pigs). The bovine embryo segment is expected to hold the largest share in the animal genetics in 2018. This is attributed to the increasing penetration of advanced genetic technologies into this segment, and the growing popularity of bovine embryo transfer practices with seedstock and beef producers enabling rapid multiplication of genetically elite animals.

APAC holds high growth potential in the animal genetics market.

APAC is expected to grow at the highest CAGR during the forecast period. Asia Pacific countries, particularly China India, Japan, and Australia offer significant growth opportunities for players in the market owing to the large scale livestock production and the growing demand of animal protien in these regions due to the rapid growth in urbanization and disposable income in these countries. Moreover, growing exports of livestock and animal products from Southeast Asian countries to the global market are expected to improve the productivity of the livestock population in this region, thereby contributing to the growth of the animal genetics market in the coming years.

The prominent players in the animal genetics market are Neogen Corporation (US), Genus (UK), URUS (US), EW Group (Germany), Groupe Grimaud (France), CRV Holding (Netherlands), Topigs Norsvin (Netherlands), Zoetis (US), Envigo (US), Hendrix Genetics (Netherlands), Animal Genetics (US), and vetGen (US). Collaborations, partnerships and agreements, and acquisitions are the major growth strategies adopted by these players to strengthen their position in the market.

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. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com