The global animal genetics market size is expected to reach USD 8.9 billion by 2026, exhibiting a CAGR of 4.9%. The market for animal genetics is anticipated to witness rise in demand owing to factors such as increasing consumption of animal proteins and rapid global urbanization. To fulfill the continuously rising demand, the preference for genetics to breed high-quality livestock and secure large production has increased. The demand for animal genetics has increased over the years, owing to rise in various animal diseases, increasing prevalence of zoonotic diseases, and rise in adoption of pets & companion animals.
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According to Food and Agriculture
Organization (FAO) publication 2017, livestock contributes almost 40% to the
global value of agricultural output, and it supports food security and
livelihood of more 1.5 billion people worldwide. However, the increasing land
requirement for these animals and grazing is a major environmental concern.
Public awareness regarding such concerns is a major reason leading to the shift
toward white meat and vegan lifestyle, impeding growth of animal genetics.
However, increasing support and research by government organizations to improve
productivity is aiding growth. For instance; Animal Improvement Program
Launched in 2014, by Animal Genomics and Improvement Laboratory (AGIL), which
is an agricultural research service organization of USDA. The program aims at
improving productivity and efficiency of dairy animals & ruminants.
The market follows the standards set by
International Society of Animal Genetics (ISAG) and leading animal research
laboratories such as The University of California Davis (U.C. Davis). The ISAG
standard panel consists of 18 STR markers, and any company in animal genetics
needs to follow the panel and standards set by the authorities. The need for
high investments in development of new technology and the duration of product
launch are some of the major factors resulting in steady growth. However,
increasing population is expected to pose an ongoing challenge due to rise in
the need for animal protein, aiding developments in the market.
Further
key findings from the report suggest:
• Porcine segment was the largest
revenue-generating segment in 2018, owing to increasing consumption of pig meat
in the European countries
• The embryo segment accounted for the
largest revenue share, based on genetic material, in 2018, owing to the large
numbers of embryos produced and sold in countries such as France, Canada,
Brazil, and Spain
• In the services segment, the genetic
diseases testing segment accounted for the largest share in 2018 and is
expected to maintain its dominance throughout the forecast period
• The North American animal genetics
market is the leading region and accounted for the largest revenue share in
2018, mainly due to existence of significant number of research and development
activities in the region
• The Asia Pacific region is expected to
grow at the highest rate during the study period. Growing population coupled
with increasing demand for animal protein is a major factor aiding regional
growth
• Some of the major players are Genus
Plc; Envigo Corporation; Topigs Norsvin; CRV Holding B.V; Groupe Grimaud La
Corbiere SA; Hendrix Genetics BV; Neogen Corporation; Zoetis, Inc; URUS; and
Animal Genetics, Inc.
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