Animal Genetics Industry Overview
The global animal genetics market is anticipated to reach a market size of USD 9.12 Billion by 2027. The market is anticipated to grow at a compound annual growth rate of 4.5% between 2020 to 2027 as per a new market research report by confianza research. The growth can be attributed to increasing demand for animal proteins, investments in animal genetic experiments, and a growing world population. Additionally, technological improvement in genetics such as embryo implant & transfer, Artificial Insemination is expected to further boost the market growth.
Animal Genetics Segmental Insights
The market is segmented based on live animal type into poultry, canine, bovine & porcine types. The porcine segment dominated the market in 2019 as demand for pork meat has increased substantially over the last few years. Moreover, the poultry segment is expected to attract exponential demand as white meat is gaining attention as it is the cheapest source of protein.
The market can be segmented based on the genetic material into embryo & semen types. The embryo segment accounted for the largest market share in 2019, as embryos are easily transferable, low cost & offer greater efficiency. Semen segment is expected to witness the fastest growth rate owing to the increasing practice of artificial insemination in various livestock.
Based on service type, the market can be segmented into genetic trait testing, genetic disease testing & DNA typing. The disease testing segment is anticipated to account for the largest market size in 2019, as farm owners are focusing on genomic testing to avoid animal deaths & financial losses. Moreover, the increasing trend of having a pet is expected to further boost the market growth.
North America accounted for the largest market share in 2019, the regional investment on animal genetic research & the presence of prominent market player is the key regional growth factors. Europe is the second-largest market for animal genomics services followed by the Asia Pacific region.
Animal Genetics Market Segmentation
Global Animal Genetics Market, By Live Animal Type, 2017-2027, USD Billion
Global Animal Genetics Market, By Genetic Material, 2017-2027, USD Billion
Global Animal Genetics Market, By Service Type, 2017-2027, USD Billion
- Genetic Disease Testing
- Genetic Trait Testing
- DNA Typing
Global Animal Genetics Market, By Region, 2017-2027, USD Billion
- North America
- The U.S.
- Asia Pacific
- South Korea
- Latin America
- South Africa
Key Animal Genetics Companies Covered In The Report:
- Genus Plc
- Envigo Corporation
- Topigs Norsvin
- CRV Holding B.V.
- Groupe Grimaud La Corbiere SA
- Hendrix Genetics BV
- Neogen Corporation
- Zoetis, Inc; URUS
- Animal Genetics, Inc