Global Animal Genetics Market Size
Veterinary Healthcare

Animal Genetics Global Market Outlook 2024-2033: Size And Growth Rate Analysis

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Strong Recent Growth

  • Current Market Size: The animal genetics market was valued at $6.29 billion in 2023.
  • Short-Term Outlook: Expected to grow to $6.76 billion by 2024, achieving a compound annual growth rate (CAGR) of 7.5%.
  • Historic Growth Drivers:
    • Increased Demand: Higher demand for quality animal proteins and meat.
    • Government Support: Initiatives and funding to advance genetic research.
    • Prevalence of Genetic Diseases: Rising incidence driving research and solutions.
    • Growing Livestock: Expanding populations necessitate genetic improvements.
    • Animal Welfare Awareness: Increased focus on humane treatment.

Future Growth Projections

  • Forecasted Market Size: Anticipated to reach $9.11 billion by 2028.
  • Future CAGR: Projected CAGR of 7.7%.
  • Future Growth Drivers:
    • Advanced Genomic Technologies: Adoption of cutting-edge tools and methods.
    • Cost-Effective Testing: Development of affordable, portable genetic tests.
    • Increased Animal-Derived Products: Growing demand for such products.
    • Enhanced Nutrition: Rising need for improved animal nutrition.
    • Animal-Derived Supplements: Higher demand for dietary supplements.

View More On The Animal Genetics Market Report 2024 – https://www.thebusinessresearchcompany.com/report/animal-genetics-global-market-report

Major Trends in Animal Genetics

  • Next-Generation Sequencing (NGS): Revolutionizing genetic analysis.
  • CRISPR-Cas9 Technology: Allowing precise genetic modifications.
  • Genetic Identification: Techniques like DNA typing and genetic disease tests.
  • Reproductive Technologies: Advances improving breeding efficiency.

Rising Demand for Animal Protein

  • Protein Preference: Increased consumption of animal protein in developed nations due to health and cultural factors.
  • Impact on Genetics: Enhancements in animal traits for better production.
  • Production Data: Global meat production grew from 350 million tons in 2021 to 355 million tons in 2022.

Leading Companies in the Market

  • Major Players:
    • Zoetis Services LLC
    • CRV
    • Genus
    • Neogen Corporation
    • Groupe Grimaud
    • URUS Group LP
    • Cobb-Vantress Inc.
    • Topigs Norsvin
    • Hendrix Genetics BV
    • Accelerated Genetics
    • Cogent Breeding
    • Alta Genetics Inc.
    • ABS Global
    • Trans Ova Genetics
    • Orivet
    • EasyDNA
    • Sandor Animal Biogenics Pvt. Ltd.
    • SEK Genetics

Integration of Artificial Intelligence

  • Innovative Solutions: AI applications for precise trait identification and genetic disorder prediction.
  • Example: Zoetis’s Vetscan Imagyst platform using deep machine learning AI for blood smear analysis, improving diagnostic accuracy and efficiency.

Zoetis Expands Offerings

  • Acquisition of Basepaws: In June 2021, Zoetis acquired Basepaws to enhance pet genetic testing services.
  • Basepaws Specialty: Focuses on DNA testing for cats, providing insights into ancestry and health risks.

Market Segmentation

  • By Type:
    • Animal Genetics Products
    • Genetic Materials
    • Embryo
  • By Service:
    • Genetic Disease Tests
    • DNA Typing
    • Genetic Trait Tests
    • Other Services
  • By Animal Type:
    • Cattle
    • Pigs
    • Sheep and Goats
    • Companion Animals
    • Other Animals
  • By End User:
    • Veterinary Hospitals and Clinics
    • Academic and Research Institutes
    • Animal Breeders
    • Pet Owners

Regional Insights

  • Current Leader: North America was the largest market region in 2023.
  • Fastest-Growing Region: Asia-Pacific is expected to see the highest growth in the forecast period.

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