Market Highlights:
The Animal Genetics Market is expected to witness tremendous growth owing to as increased adoption of genetic services to prevent genetic diseases and business loss, and rising acceptance of advanced genetic technologies. Other key factors such significant investments in R&D and expansions undertaken by key players are contributing towards the growth of the market. However, challenges such as need for specific breeding programs for breeds with inferior economic performance, and economic sustainability in local breeds is likely to curb the market growth during the forecast period.
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Segmentation:
The Global Animal Genetics Market, as per the report, has been segmented with a strong foundation in services, animal genetic products, and end-user. This segmentation is targeting specific details with the potential of triggering the growth rate in the coming years.
By animal genetic products, the market report considers the animal genetics market upon segmenting it into genetic materials and live animals. The live animals segment includes bovine, porcine, canine, poultry, and others. The genetic materials have been further segmented into semen and embryo.
By services, the animal genetics market report covers gene trait tests, DNA typing, genetic disease tests, and others. These segments are finding it easier to percolate the research industry as they offer a better grip on the data.
By the end-user, the market for animal genetics market has been segmented into research centers & institutes, diagnostic centers, veterinary hospitals & clinics, and others. The research centers & institutes can inspire growth.
Regional Market
The Americas have the chance to lead the market as the region is witnessing a strong surge in its investment sector. The regional market is known for its high intake of animal protein through various types of animal products owing to which companies are investing much in developing strategies for the research and development sector. It is getting further traction from the hike in the speed of urbanization, which is transforming lives and creating more opportunities for the market to permeate. Increasing artificial insemination in animals like pigs, sheep, cattle, and goats can fuel growth. In Europe, the regional market can exploit the favorable market dynamics and ensure strong growth for itself. The rise in genetic diseases can make sure the research sector spends more money to score well in the coming years.
The Asia Pacific market has placed itself as a country that can grow with the fastest CAGR during the forecast period. This can benefit from the growing population of livestock and the inclusion of advanced DNA typing and genetic testing tools that inspires better testing facilities.
Competitive Landscape:
Players making influential contributions to the animal genetics market are URUS (US), Neogen Corporation (US), Genus (UK), Groupe Grimaud (France), EW Group (Germany), Topigs Norsvin (Netherlands), CRV Holding B.V. (The Netherland), vetGen (US), Hendrix Genetics BV (The Netherland), Zoetis (US), Envigo (US), Alta Genetics (US), Animal Genetics (US), and others. These players are known for their extensive contributions to developing the market dynamics that can impact the global market scenario. MRFR’s profiling is expected to bring out insights regarding how the market may shape up.
In December 2019, the genetic index with predictions for dairy cattle lifespan has been released after the revamping to make the predictions more precise. The new model includes an observing period of -305 to +305 days to attain precision.
Key Players:
Some of the key players in the global animal genetics market are Neogen Corporation (US), Genus (UK), URUS (US), EW Group (Germany), Groupe Grimaud (France), CRV Holding B.V. (The Netherland), Topigs Norsvin (Netherlands), Zoetis (US), Envigo (US) Hendrix Genetics BV (The Netherland), Animal Genetics (US), Alta Genetics (US), vetGen (US), and others.
LIST OF FIGURES
Figure 1 Research Process
Figure 2 Segmentation for the Global Animal Genetics Market
Figure 3 Market Dynamics for the Global Animal Genetics Market
Figure 4 Global Animal Genetics Market Share, by Animal Genetic Product 2020
Figure 5 Global Animal Genetics Market Share, by Services 2020
Figure 6 Global Animal Genetics Market Share, by End-User, 2020
Figure 7 Global Animal Genetics Market Share, by Region, 2020
Figure 8 North America Animal Genetics Market Share, by Country, 2020
Figure 9 Europe Prescribed Health Apps Share, by Country, 2020
Figure 10 Asia-Pacific Animal Genetics Market Share, by Country, 2020
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