The Global Animal Genetics Market is projected to reach USD 5.8 billion by 2023, at a CAGR of 6.5 %.
Factors such as rising consumption for animal-derived protein, growing population and rapid urbanization across the globe, increased adoption of genetic services and advanced genetic technologies for larger-scale production and quality breeds, and growing focus on identifying superior breeds are likely to boost the growth of the market. However, shortage of skilled professionals in veterinary research and technicians for performing advanced genetic services is a major factor restraining the growth of this market.
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North America dominated the animal genetics market in 2017; this trend is expected to continue during the forecast period.
Geographically, animal genetic market has been studies for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to dominate the animal genetics market during the forecast period. This is attributed to the presence of a large number of leading players of the animal genetics market in this regions, along with the high adoption of the latest technologies in animal genetics. Besides, the establised livestock sector, and the growing demand for animal protien is expecetd to drive the North American animal genetics market.
Key Market Players in the animal genetics market;
The prominent players in the animal genetics market are Neogen Corporation (US), Genus (UK), URUS (US), EW Group (Germany), Groupe Grimaud (France), CRV Holding (Netherlands), Topigs Norsvin (Netherlands), Zoetis (US), Envigo (US), Hendrix Genetics (Netherlands), Animal Genetics (US), and vetGen (US).
Browse and in-depth TOC on “Animal Genetics Market“.
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Key Questions Addressed in the Report
- Who are the top 10 players operating in the animal genetics market?
- What are the driving factors, restraints, opportunities, and challenges in the animal genetics market?
- What are the industry trends and current scenario of the animal genetics market?
- What are the growth trends in the animal genetics market at segmental and overall market levels?
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The prominent players in the Animal Genetics Market are Neogen Corporation (US), Genus (UK), URUS (US), EW Group (Germany), Groupe Grimaud (France), CRV Holding (Netherlands), Topigs Norsvin (Netherlands), Zoetis (US), Envigo (US), Hendrix Genetics (Netherlands), Animal Genetics (US), and vetGen (US). Collaborations, partnerships and agreements, and acquisitions are the major growth strategies adopted by these players to strengthen their position in the market.
