A recent report published by Infinium Global Research on animal genetics market provides in-depth analysis of segments and sub-segments in the global as well as regional animal genetics market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional animal genetics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global animal genetics market. According to the report, the global animal genetics market is projected to grow at a CAGR of 7.8% over the forecast period of 2019-2025.
Animal genetics deals with the study of inheritance and gene variation in wild and domestic animals. It involves gene expression, animal breeding and physical genetic traits such as coat color, body structure, facial shape, and others which is entirely based on heredity. They are mainly used for DNA testing, genetic trait testing, and genetic disease treating. The global animal genetics market is expected to grow at a success rate over the forecast period.
The increase in the global population and rapid urbanization is one of the major factors that drive the growth of the animal genetics market across the globe. Increasing demand for animal products and growing focus towards genetic management of diseases in animals are some other factors that help in the growth of the animal genetics market. Furthermore, major investments in research and development, and expansions undertaken by main players are contributing to the growth of the market. However, challenges such as high cost of animal testing, need for specific breeding programs for breeds with inferior economic performance, and economic sustainability in local breeds may hamper the growth of the animal genetics market over the forecast period. Moreover, the growing focus on identifying superior breeds creates an opportunity for the growth of the market in the upcoming years.
In terms of region, the global animal genetics market has been categorized into North America, Europe, Asia Pacific, and Rest of the World. Among all, North America is leading the global market and is expected to dominate the animal genetic market over the forecast period. This is accredited to the presence of leading players in the animal genetics market in the region. Besides, the high adoption of the latest technologies in animal genetics also drives the market growth in the North American region. Moreover, the established livestock sector and the increasing demand for animal protein are anticipated to boost the market in the North American Region. The Asia Pacific is estimated to grow at a rapid speed during the forecast period. This is attributed to the increasing population and increasing demand for animal products in this region. Also, growing awareness towards animal welfare in developing countries and the adoption of advanced animal genetic testing services fuel the market growth in the Asia Pacific region.
The report on global animal genetics market covers segments such as animal genetic products, services, and end-user. On the basis of animal genetic products, the sub-markets include genetic materials, and live animals. On the basis of services, the sub-markets include genetic disease tests, DNA typing, gene trait tests, and other services. On the basis of end-user, the sub-markets include veterinary hospitals & clinics, diagnostic centers, research centers and institutes, and other end-users.
The report provides profiles of the companies in the market such as Genus Plc, Topigs Norsvin, Envigo Corporation, CRV Holding B.V, Hendrix Genetics BV, Groupe Grimaud La Corbiere SA, Neogen Corporation, Alta Genetics Inc., Zoetis, Inc, and Animal Genetics, Inc.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of animal genetics market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.