Animal Genetics Market: Pioneering Developments in Breeding and Genetic Testing

4 min read2 days ago

The animal genetics Market share sector attained a worth of USD 7.77 Billion in 2023. Forecasts indicate a promising path, foreseeing a Compound Annual Growth Rate (CAGR) of 7.5% from 2023 to 2032. This trajectory will culminate in a noteworthy achievement of USD 14.78 Billion by 2032, highlighting considerable opportunities within this flourishing high-volume industry. North America dominated the market in 2023.

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In a recent study, Fortune Business Insights presents the nitty-gritty of the global Animal Genetics Market considering 2024–2032 as the stipulated timeframe. The business report highlights the drivers, restraints, opportunities, and market growth trends. Further, all the market shares associated with the market as well as the segments are expressed in terms of value and volume.

Top Companies in the Animal Genetics Market:

Genomia s.r.o. (Czechia)
Neogen Corporation (U.S.)
Mars, Incorporated (U.S.)
Zoetis (U.S.)
Genetic Technologies Limited (Australia)
TOPIGS NORSVIN (Netherlands)
URUS Group LP (U.S.)
Genus (U.K.)

The Animal Genetics Market study outlines the key regions of North America, Latin America, Europe, East Asia, and Japan along with the countries contributing the most in the respective regions. The report presents detailed insights about each market player, including SWOT analysis, main market information, market share, revenue, pricing, and gross margin.

Animal Genetics Market Dynamics:

Growing Global Population and Focus on Food Security: The rising global population and increasing demand for animal-derived protein drive the need for improved animal breeding practices to enhance food production efficiency. This fuels the animal genetics market by promoting the use of genetic selection tools and breeding technologies.
Advancements in Gene Editing Technologies: Developments in CRISPR and other gene editing technologies create opportunities for precise genetic modification of animals for improved disease resistance, faster growth rates, and potentially even altered product qualities like leaner meat or higher milk yields. However, ethical considerations surrounding gene editing remain a factor.
Rising Demand for Companion Animal Genomics Testing: The growing popularity of pet ownership, coupled with increasing disposable income in some regions, leads to a rise in pet health awareness and demand for companion animal genetic testing. This includes tests for breed identification, predisposition to certain diseases, and even personalized dietary recommendations.
Focus on Sustainability and Ethical Breeding Practices: Concerns about animal welfare and environmental impact of intensive livestock farming create a demand for genetic solutions that promote sustainable practices. This may involve breeding animals with improved feed conversion efficiency or reduced methane emissions.
Stringent Regulations and Evolving Legal Landscape: The market is influenced by evolving regulations concerning genetically modified organisms (GMOs) and animal welfare standards. Navigating these regulations and ensuring ethical breeding practices are crucial for market sustainability.

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The insights for each vendor consist of:

Company profile
SWOT analysis
Main market information
Market share
Revenue, pricing, and gross margin

Crucial insights in the Animal Genetics Market research:

Underlying macro- and microeconomic factors impacting the growth of the Animal Genetics Market.
Basic overview of Animal Genetics Market, including market definition, classification, and applications.
Scrutinization of each Animal Genetics Market player based on mergers & acquisitions, R&D projects, and product launches.
Adoption trend of Animal Genetics Market across various industries.
Important regions and countries offer lucrative opportunities to Animal Genetics Market stakeholders.

Important regions covered in the Animal Genetics Market report include:

North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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