Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Animal Genetics market.

Trusted Business Insights presents an updated and Latest Study on Animal Genetics Market 2019-2026. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market.The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Animal Genetics market during the forecast period (2019-2029).It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

Get Sample Copy of this Report @ Global Animal Genetics Market Size, Share, Market Research and Industry Forecast Report, 2019-2026 (Includes Business Impact of COVID-19)

Industry Insights, Market Size, CAGR, High-Level Analysis: Global Animal Genetics Market

The global animal genetics market size was estimated at USD 6.11 billion in 2018 and is anticipated to grow at a CAGR of 4.9% over the forecast period. Factors such as increasing population & rapid global urbanization and growing preference for animal protein & adoption of various genetic services are the key market growth drivers. Moreover, rising adoption of progressive genetic practices, including Artificial Insemination (AI) and embryo transfer, for large-scale production of modified breeds is likely to boost growth in the near future.Animal genetics is focused on inheritance and genetic variations in wild and domestic animals. At a commercial level, this science is used for services such as genetic disease testing, genetic trait testing, and DNA typing. This practice uses ontogenetic, hybrid population, and cytological studies for defining genetic hybridizations.

As per a study by Meat and Livestock Australia in 2015, Genetically Modified (GM) cow produced more milk and was less susceptible to various common cattle diseases, such as bovine respiratory disease complex & clostridia disease, effectively resulting in high overall profit for cattle farmers.Furthermore, increased adoption of advanced genetic technologies and implementation of the animal welfare regulations are anticipated to drive the market in near future. Similarly, increase in livestock population and awareness pertaining to animal genetic disorders, to meet unmet demands for animal proteins, is further fueling growth. However, stringent regulations concerning animal genetic engineering, high cost of animal testing, and lack of skilled professionals limits market growth.Rise in R&D initiatives by scientists in an attempt to produce healthier food and milk products from livestock animals by genetic modifications is another factor aiding market growth over the forecast period. According to a publication by the British Nutrition Foundation 2018, genetically modified cows were expected to produce milk without allergy producing protein, which will make the product suitable for lactose intolerant people. According to National Institute of Health, 2017, almost 8% of the population in the U.K. was suffering from lactose intolerance. Hence, the modifications are expected to provide newer opportunities for animal genetics in the coming years.Live Animals InsightsBased on live animal genetic materials, the porcine segment held the largest share in 2018. This largest share can be attributed to various factors, such as large consumer base for pork meat and its products, as well as growing penetration of advanced genetic research. Furthermore, the segment is also expected to grow due to environmental factors such as comparatively limited land requirement and the low need for maintenance of animals.Increasing shift toward white meat consumption is a major factor leading to higher growth in the poultry segment. Furthermore, pocket friendliness and low rate of food-related disease transmissions are the major factors propelling genetic research in the poultry segment. Rising government efforts to reduce environmental effects and create awareness in the European countries have led a consumer shift from red meat toward white meat. This shift is expected to create new opportunities for animal genetics to boost white meat production in order to meet the growing demand.GeneticMaterial Insights of Global Animal Genetics Market

Based on genetic material, the embryo segment held the largest market share in 2018 and is expected to maintain its position during the forecast period. The high segment revenue can be attributed to the higher efficiency of the embryo compared to semen. Embryo transfer in cattle is primarily done to amplify reproduction rates. Cost of importing the embryos is often lower as compared to semen and postnatal animals, and embryo makes it possible to change the breed of the entire herd within a single generation.On the other hand, semen segment is expected to grow at the fastest CAGR during the forecast period. This high growth can be attributed to increasing adoption of semen sexing and AI for cattle, sheep, pigs, and goats breeding.Services InsightsBased on services, the genetic disease test segment is anticipated to grow at the highest rate during the forecast period. This growth can be attributed to the growing adoption of genomic tests to prevent financial losses and loss of live animal productivity, in case of farm owners. DNA typing and parentage testing is the most common service provided by the animal genetic companies.

Growing pet ownership is a major factor leading to the market growth of genetic diseases testing segment. Genetic trait tests, such as tests for coat color, and parentage tests are expected to rise with increasing pet population. Furthermore, genetic diseases tests in livestock animals are also expected to grow during the forecast period, to ensure disease-free breed of animals.Regional InsightNorth America is the largest shareholder in the animal genetics market, owing to high research on animal genetics and adoption of strategic activities by industry players, such as acquisitions. For instance, Neogen, in 2018, completed acquisition of Livestock Genetic Services-a firm involved in data management and genetic evaluations for cattle breeding organizations. The acquisition helped the company expand its genetic evaluation capabilities.Europe held the second largest market for animal genetics, majorly due to rising awareness about animal wellbeing and increased expenditure on veterinary services. As per a European Pet Food Industry Federation 2017 publication, more than 75 million households own a pet in the region.The Asia Pacific region is likely to grow with a higher CAGR over the forecast period. Rise in animal care services, both at veterinary hospitals and community-level centers, is anticipated to lead to the market growth. The MEA accounts for least share due to lack of well-trained healthcare professionals and low per capita income. There is growing demand for efficient tests and other genetic services for testing of genetic diseases in animals in this region, which is expected to aid adoption of animal genetics in the coming years.Animal Genetics Market Share InsightsSome key 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 .Consistently rising demand from the food industry is impelling growth in the need for genetically modified animals, to increase productivity. However, stringent regulations and high lead time are expected to impede market growth.Leading players are involved in development of new live animals, collaborations, mergers & acquisitions, and regional expansion to gain revenue share. Development of disease-resistant breed helps companies expand their existing portfolio and geographical reach. For instance, in May 2019, Genus collaborated with Beijing Capital Agribusiness (BCA) in China. BCA is anticipated to help the company apply its patented technology to develop Porcine Reproductive and Respiratory Syndrome Virus (PrRVS)-resistant animals.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Global Animal Genetics Market Research ReportThis report forecasts revenue growth at global, regional, & country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2014 to 2026. For the purpose of this study, this market research report has segmented the animal genetics market report on the basis of live animals, genetic materials, services, and region:

Live Animal Outlook (Revenue, USD Million, 2014 2026)

Porcine

Bovine

Poultry

Canine

Others

Genetic Materials Outlook (Revenue, USD Million, 2014 2026)

Embryo

Semen

Services Outlook (Revenue, USD Million, 2014 2026)

Genetic Trait Testing

Genetic Diseases Testing

DNA Typing

Quick Read Table of Contents of this Report @ Global Animal Genetics Market Size, Share, Market Research and Industry Forecast Report, 2019-2026 (Includes Business Impact of COVID-19)

Trusted Business InsightsShelly ArnoldMedia & Marketing ExecutiveEmail Me For Any ClarificationsConnect on LinkedInClick to follow Trusted Business Insights LinkedIn for Market Data and Updates.US: +1 646 568 9797UK: +44 330 808 0580

More here:

Animal Genetics Market 2020: Analysis Of Sales, Overview, Segmentation And Growth Rate To 2027 - 3rd Watch News