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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.
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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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