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Animal Genetics Market Share & Size | Industry Forecast, 2024-2032

The global animal genetics market size was worth around USD 6.60 Billion in 2023 and is predicted to grow to around USD 12.65 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 7.50% between 2024 and 2032.

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The study of genetic variation and inheritance in both domestic and untamed animals constitutes animal genetics. Animal genetics is concerned with physical genetic characteristics, including coat color, aspects of animal reproduction, and gene expression. Concepts and principles that are generative form the foundation of animal genetics. To gain insights into the inheritance of distinct characteristics, the hybrid analysis method is predominantly employed. Furthermore, this approach is instrumental in ascertaining the fundamental nature of inheritance with respect to an assortment of biochemical, physiological, and morphological characteristics.

Currently, a number of significant variables are propelling the animal genetics market to experience unprecedented growth. Several factors, including population growth, rising wages, and changing dietary preferences, are contributing to this increase. The rising global demand for premium protein sources, such as meat, milk, and eggs, is a significant determinant in this expansion.

Due to this heightened demand, greater emphasis has been placed on enhancing the efficacy and productivity of cattle via the adoption of genetic improvement programs. Furthermore, substantial advancements in the fields of biotechnology and genomics have precipitated a paradigm shift in the practices of animal reproduction.

These advancements have enabled more precise selection and breeding of animals with desirable traits, including resistance to disease, growth rate, and feed efficiency. Furthermore, the growing prevalence of livestock diseases and the demand for environmentally sustainable agricultural practices are propelling the implementation of genetic technology to produce disease-resistant and environmentally friendly animal breeds. Furthermore, favorable government initiatives, substantial investments in research and development, and partnerships among industry participants are all contributing to the market’s burgeoning growth. Upon careful examination of the aforementioned factors, it is evident that the animal genetics market exhibits considerable promise and is anticipated to experience additional expansion in the foreseeable future.

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The Global Animal Genetics Market is segmented based on product, application and region

Global Animal Genetics Market: Product Segment Analysis

● Live Animals
● Genetic Material

Global Animal Genetics Market: Application Segment Analysis

● Genetic Disease Tests
● Genetic Trait Tests
● DNA Typing
● Others

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The global Animal Genetics market profiles key players such as:

● Hendrix Genetics BV
● Neogen Corporation
● Genus plc
● Alta Genetics Inc.
● VetGen
● CRV Holding B.V.
● Zoetis Inc.
● Topigs Norsvin
● Animal Genetics Inc.
● Groupe Grimaud

Market for Animal Genetics: A Regional Analysis

The regions encompassing the Middle East and Africa, North America, Europe, Asia Pacific, and Latin America are categorized within this market according to regional considerations. Due to the well-established livestock sector, the presence of key market participants in the region, and the high level of adoption for new technologies in animal genetics, the animal genetics market in North America is anticipated to lead the industry during the forecast period. The expansion of urbanization, the growing demand for animal products, and the increase in the number of pet owners in Europe have collectively contributed to the continent’s emergence as the second largest market for animal genetics.

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