The Business Research Company’s Animal Genetics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 18, 2024 /EINPresswire.com/ -- The animal genetics market has exhibited robust growth, increasing from $6.29 billion in 2023 to $6.76 billion in 2024 at a CAGR of 7.5%. This growth in recent years can be attributed to the rising demand for high-quality animal proteins and meat, government initiatives and funding support, the increasing prevalence of genetic diseases, growing livestock populations, and heightened awareness of animal welfare.

Strong Growth Expected, Fueled by Technological Advancements and Rising Demand
The animal genetics market is anticipated to continue its strong growth trajectory, reaching $9.11 billion by 2028, growing at a CAGR of 7.7%. Key drivers in the forecast period include increased adoption of advanced genomic technologies, development of portable and cost-effective genetic testing solutions, rising demand for animal-derived products, growing emphasis on nutrition, and the popularity of animal-derived dietary supplements.

Major Trends Shaping the Market
In the forecast period, major trends include the adoption of next-generation sequencing (NGS), advancements in techniques like CRISPR-Cas9 for precise genetic alterations, advancements in genetic identification methods such as DNA typing and genetic disease tests, and innovations in reproductive technologies.

Increasing Demand for Animal Protein Drives Market Growth
The increasing demand for animal protein is a significant factor propelling the growth of the animal genetics market. Animal protein, derived from sources like meat, poultry, fish, eggs, and dairy products, is increasingly preferred for protein-rich diets in developed countries due to health awareness, fitness trends, and cultural preferences. Animal genetics facilitates higher animal protein production through selective breeding of animals with superior traits, enhancing efficiency and productivity in livestock farming.

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Key Players Leading Innovation
Leading companies in the animal genetics market, including Zoetis Services LLC, CRV, Genus, and Neogen Corporation, are integrating artificial intelligence (AI) into their platforms to enhance trait identification accuracy. AI enables predictive and early detection of genetic disorders, facilitating timely interventions and reducing hereditary disease incidences in animals.

Regional Insights: North America Dominates, Asia-Pacific to Witness Rapid Growth
North America emerged as the largest region in the animal genetics market in 2023, driven by advanced healthcare infrastructure and robust research and development activities. Meanwhile, Asia-Pacific is expected to experience the fastest growth during the forecast period, buoyed by increasing agricultural activities and rising demand for animal-derived products.

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

Animal Genetics Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Animal Genetics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on animal genetics market size, animal genetics market drivers and trends, animal genetics market major players, competitors' revenues, market positioning, and market growth across geographies. The animal genetics market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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