According to the new market research report “Animal Genetics Market by Products & Services (Live Animals (Poultry, Porcine, Bovine, Canine) Genetic Material (Semen (Bovine, Porcine), Embryo (Bovine, Equine)) Genetic Testing (DNA Testing, DNA Typing, Genetic Traits Testing)) (2022 – 2026)”, is projected to reach USD 7.7 billion by 2026 from USD 5.5 billion in 2021, at a CAGR of 7.1% during the forecast period.
Browse in-depth TOC on “Animal Genetics Industry“
269- Tables
36- Figures
296- Pages
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The major players in the global animal genetics market include Neogen Corporation (US), Genus (UK), URUS (US), EW Group (Germany), Groupe Grimaud (France), CRV Holding (Netherlands), Topigs Norsvin (Netherlands), Zoetis (US), Envigo (US), Hendix Genetics (Netherlands), Animal Genetics (US), VetGen (US), DanBred (Denmark), Tropical Bovine Genetics (India), Trans Ova Genetics (US), Inguran LLC dba ST Genetics (US), Semex Alliance (Canada), Genetic Veterinary Sciences (US), Cobb-Vantress (US), Milk Source (US), and Eurogene AI Services (Ireland).
Market Growth Drivers
- increasing consumption of animal-derived protein and dairy products
- Growing global population and rapid urbanization
- Increasing customer awareness
- Increased demand for companion animals
- Genetic services to prevent genetic diseases and business loss
- Increased adoption of advanced genetic technologies
Market Opportunities
- Untapped market potential in developing countries
- Innovations in phenotyping services
- Significant investments in R&D and expansions by key players
Market Challenges
- Need for specific breeding programs for breeds with inferior economic performance
- Economic sustainability in local breeds
- African swine fever outbreak in China and further spread
- Shortage of skilled professionals in veterinary research
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