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Redding, California - May 8, 2024

Animal Genetics Market to be Worth $9.12 Billion by 2031

Animal Genetics Market Size, Share, Forecast, & Trends Analysis by Animal (Companion [Dogs, Cats] Livestock [Poultry, Porcine, Bovine]) Services (DNA Profile, Genetic Diseases, Traits) Sample Type (Blood, Tissue, Embryo), End User - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘Animal Genetics Market Size, Share, Forecast, & Trends Analysis by Animal (Companion [Dogs, Cats] Livestock [Poultry, Porcine, Bovine]) Services (DNA Profile, Genetic Diseases, Traits) Sample Type (Blood, Tissue, Embryo), End User - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the animal genetics market is projected to reach $9.12 billion by 2031, at a CAGR of 5.8% during the forecast period. Crossbreeding, an age-old tradition, involves mating animals from different breeds to amalgamate desirable traits and develop enhanced varieties. Originally, this practice relied solely on physical characteristics, lacking genetic insights. However, recent years have seen a surge in research and initiatives by animal breeders to utilize genetic testing, generating data on genetic profiles and trait-associated genes. Genetic testing provides valuable insights for breeders and farmers, aiding in the breeding and crossbreeding of farm animals to yield superior generations with enhanced meat and milk production, along with heightened disease resistance.

The growth of the animal genetics market is driven by increasing demand for precision breeding techniques to improve livestock & companion animal health & productivity, growing awareness among farmers & pet owners about the benefits of genetic testing for infectious diseases, rising adoption of advanced genomic technologies for livestock & companion animals, government initiatives & funding support for animal genetic research & development, and rising prevalence of genetic diseases in animals.

Furthermore, emerging markets with growing livestock and pet populations, such as Asia-Pacific and Latin America, and the development of portable & affordable genetic testing solutions for on-farm or point-of-care applications are expected to generate growth opportunities for the players operating in the market.

Key Players

The key players operating in the animal genetics market are Animal Genetics, Inc. (U.S), Zoetis Inc. (U.S), Mars Petcare (Part of Mars, Incorporated) (U.S.), Embark Veterinary, Inc. (U.S.), Neogen Corporation (U.S.), Basepaws Inc., LABOKLIN GMBH & CO.KG (Germany), Generatio GmbH (Germany), Vetgen LLC (U.S.), FarmLab Diagnostics (Ireland) and EasyDNA (Part of Genetic Technologies Limited) (U.S.).

Animal Genetics Market: Future Outlook

The animal genetics market is segmented based on Testing Services (DNA Profile Testing, Genetic Traits Testing [Coat Color & Pattern, Body Size, Other Coat Traits, Other Body Features], Genetic Disease Testing [Infectious Diseases, Inherited Disorders], Other Testing Services), Sample Type (Blood, Tissue, Semen, Embryo, Other Sample Types), Animal Type (Companion Animals [Dogs, Cats], Livestock [Poultry, Porcine, Bovine, Fish], Other Animals), End User (Veterinary Hospitals and Clinics, Academic & Research Institutes, Animal Breeders, Pet Owners), and Geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.

Based on testing services, the animal genetics market is segmented into DNA profile testing, genetic traits testing, genetic disease testing, and other testing services. In 2024, the genetic disease testing segment is slated to register the highest CAGR of 6.7% during the forecast period of 2024-2031. The growth of this segment is attributed to the widespread prevalence of infectious diseases in livestock, posing a risk of outbreaks, alongside a high occurrence of metabolic disorders like cancer, hip dysplasia, and heart conditions. Additionally, there is a growing demand for early detection, control, and management of animal diseases to prevent zoonosis, where over 150 zoonotic diseases globally are transmitted to humans from wild and domestic animal populations, resulting in approximately 2.2 million deaths annually. Moreover, 60% of infectious diseases in humans are zoonotic, as reported by the Understanding Animal Research Organization.

Based on the animal type, the animal genetics market is segmented into companion animals, livestock, and other animals. In 2024, the companion animals segment is expected to account for the largest share of the animal genetics market. The large market share of this segment is attributed to the large population base of pet animals globally, rising expenditure on pet health, growing demand for pet breeding & purebreds leading to ancestry testing in companion animals, majorly in dogs, and growing genetic modifications in dogs due to selective breeding.

Based on the sample type, the animal genetics market is segmented into blood, tissue, semen, embryo, and other sample types. The blood segment is projected to witness the highest growth rate during the forecast period of 2024–2031. The convenience and reliability of blood samples for genetic testing, the ease of disease identification through such samples, and their utility in sequencing to discern the genetic subtypes of various animal traits are some of the factors driving the growth of this segment.

Based on end user, the animal genetics market is segmented into veterinary hospitals and clinics, academic & research institutes, animal breeders, and pet owners. In 2024, the animal breeders segment is expected to account for the largest share of the market. The factors attributed to the large share of the segment are high demand for superior genetic quality livestock, rising demand for purebred companion animals, and growing adoption of genetic testing by breeders to authenticate the breeds for commercial purposes.

For instance, progeny testing is widely employed in the beef and dairy industry to assess and select breeding stock. Through progeny genetic testing, breeders can identify superior sires for artificial insemination, ensuring that future generations are more productive and possess optimal health traits, ultimately leading to increased profits for farmers.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, Ireland, Netherlands, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, New Zealand, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa.

In 2024, North America is expected to account for the largest share of the animal genetics market. However, emerging countries such as India and China are expected to grow at the highest CAGR during the forecast period. The factors leading to this growth are large exports of animal-derived foods, high production of animal-derived products, and large population base of livestock, and rising pet adoption. Several organizations, both governmental and private, are involved in animal genetics research, breeding programs, and conservation efforts across the country. The Indian Council of Agricultural Research (ICAR) and its constituent institutions, such as the National Bureau of Animal Genetic Resources (NBAGR) and various State Agricultural Universities (SAUs), play a crucial role in this regard. These institutions research breed characterization, genetic improvement, and conservation strategies for different livestock species.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5863

Key questions answered in the report:

Which are the high-growth market segments in terms of testing services, sample type, animal type, end user, and region/country?
What was the historical market size for animal genetics across the globe?
What are the market forecasts and estimates for 2024–2031?
What are the major drivers, restraints, opportunities, and challenges in the global animal genetics market?
Who are the major players in the global animal genetics market?
What is the competitive landscape like, and who are the market leaders in the global animal genetics market?
What are the recent developments in the animal genetics market?
What strategies are adopted by the major players in the animal genetics market?
What are the geographical trends and high-growth regions/countries?

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Redding, California - May 8, 2024

Animal Genetics Market to be Worth $9.12 Billion by 2031

Animal Genetics Market Size, Share, Forecast, & Trends Analysis by Animal (Companion [Dogs, Cats] Livestock [Poultry, Porcine, Bovine]) Services (DNA Profile, Genetic Diseases, Traits) Sample Type (Blood, Tissue, Embryo), End User - Global Forecast to 2031

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