Animal Genetic Market Booming at a CAGR of 8.9% by 2026 with Top Key Players Milk Source. Trans Ova Genetics., Genex Services, Alta Genetics Inc., NEOGEN CORPORATION
Animal genetics are referred to as those fields of genetics which deals in the scrutiny of gene variation and inheritance in the domestic animals. It duly comprise of animal breeding, gene expression and physical traits such as body structure, coat complexion, facial shape, among others which are completely based on the heredity aspect. The Animal genetics is thus used for DNA typing, genetic disease testing and genetic trait testing.
North America holds the biggest market share for the animal genetics industry. The rising quantity of advanced animal health care institutions, increasing pet adoption and emerging adoption for the modern diagnostic technologies enables this region the highest compensator of growth. Asia-pacific is also emerging as one of the rising lucrative market for the animal genetics due to the increasing opportunities in this region in the forecast period.
Technological inventions in the phenotyping services, rise in the pharmaceutical outsourcing and highly emerging customer demand for the animal-derived protein based supplements are the factors which fuels the market growth of global animal genetic market. Although, unavailability of skilled veterinary research personnel in this field poses a factor which hinders its market growth.
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In May 2019 CRISPR received green signal for the altering the genes of plants and animal in Australia. These tool promises a great remedy for new cancer treatment and offers an extremely fast breeding process of plants and animals. This is believed to bring more technological innovations and will foster a tremendous growth opportunity in the Genetic Market.
Few of the major market competitors currently working in the animal genetics market are NEOGEN CORPORATION, Zoetis, Envigo, Animal Genetics Inc., VetGen, Groupe Grimaud among others.
Data bridge market research has made some dynamic efforts to prepare a highly informative report and according to our analysis, we suggest that the global animal genetic market is estimated to register a substantial CAGR of 8.9% during the forecast span of 2019-2026.
Segmentation: Global Animal Genetic Market
Global Animal Genetic Market By Product (Live Animals (Poultry, Porcine, Bovines, Canine, Others), Genetic Material (Semens, Embroys)), Genetic Testing Services (DNA typing, genetic trait tests, genetic disease tests, and others), Geography (North America, South America, Europe, Asia-Pacific and Middle East and Africa) Industry Trends and Forecast to 2026
- Growing consumer demand for animal-derived protein based supplements and food among people across the globe serves as a major stimulant for rising demand of animal genetics.
- Rising focus on classifying superior breeds using genetic engineering to obtain high reproduction rates will contribute towards the growth of this market.
- Rising global population and rapid urbanization, rising disposable income, with increased standards of living, changing consumer food habits have contributed towards the growth of global animal genetic market.
- Inventions in phenotyping services
- Growing pharmaceutical outsourcing
- Rising adoption of advanced genetic technologies for massive scale production and quality breeds.
- Dearth of skilled professionals in veterinary research
- Strict Government regulations for animal genetics
Key Developments in the Market:
- In August 2017, Groupe Grimaud to sell HUBBARD, its Broiler Genetics Division to Aviagen Group. Hubbard’s large variety of genetic products and immense proficiency in various sections of the broiler breeding genetics market would largely contribute to Aviagen Group in extending its product line. Customers would be at advantage, deriving the benefits from the merged best practices, skills, expertise and knowledge.
- In May 2019, A green signal has been passed for CRISPR gene editing of plants and animal is in Australia. These tools of gene editing are transforming the scientific world, promising remedy to new cancer and extremely fast breeding of plants and animals. By this, the regulations of gene technology would become more relaxed, fostering towards the growth of the Genetic Market.
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Current and future of global animal genetic market outlook in the developed and emerging markets
The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
Regions/Countries that are expected to witness the fastest growth rates during the forecast period
The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
Table of Content:
Global Animal Genetic Market Research Report 2019-2026
Chapter 1: Animal Genetic Market Overview
Chapter 2: Animal Genetic Market Economic Impact
Chapter 3: Competition by Manufacturer
Chapter 4: Production, Revenue (Value) by Region (2019-2026)
Chapter 5: Supply (Production), Consumption, Export, Import by Regions (2019-2026)
Chapter 6: Production, Revenue (Value), Price Trend by Type
Chapter 7: Animal Genetic Market Analysis by Application
Chapter 8: Animal Genetic Market by Manufacturing Cost Analysis
Chapter 9: Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10: Animal Genetic Market Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Animal Genetic Market Effect Factors Analysis
Chapter 12: Animal Genetic Market Forecast (2019-2026)
Chapter 13: Appendix
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Queries Related to the Animal Genetic Market:
- Which application segments will perform better and achieve success in worldwide through the forecast years?
- What are the key factors driving the market growth?
- Who are the key vendors in this Industry?
- Which are the impressive business sectors where best players want their own expansion in future?
- What are the market dynamics?
- What are the limits ruining the development rate?
- What is the focused circumstance to advance development?
- What are the opportunities and threats faced by the performers in the global market?
- What are the development rates for this Industry?
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