Animal Genetics Market to be Valued at $7.7 Billion by 2026 – MarketsandMarkets™ Exclusive Report

Animal Genetics Market to be Valued at $7.7 Billion by 2026 - MarketsandMarkets™ Exclusive Report

Major players in the global animal genetics market include Neogen (US), Genus (UK), URUS (US), EW Group (Germany), Groupe Grimaud (France), and CRV Holding (Netherlands). ), and Topigs Norsvin (Netherlands)”

In January 2021, Genus ABS and The Bair Ranch teamed up to use sex-skewed semen and final genetics to demonstrate the impact of a cow calf management system.

According to a new market research report animal genetics market By products and services (live animals (poultry, pigs, cows, dogs) genetic material (sperm (cows, pigs), embryos (cows, horses)) genetic testing (DNA testing, DNA typing, genetic trait testing)) – global outlook to 2026, Published by MarketsandMarkets™, the global market is expected to reach $7.7 billion by 2026 from $5.5 billion in 2021, at a compound annual growth rate of 7.1% during the forecast period.

Browse in depth the table of contents animal genetics market

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The growth of this market is mainly attributable to increased consumption of animal-derived protein, growing global population and rapid urbanization, increased focus on identifying superior breeds, increased adoption of genetic services to prevent genetic diseases and business loss, and increased adoption of advanced genetic technologies. On the other hand, the shortage of skilled professionals in veterinary research is a major factor limiting the growth of the market.

By product type segment, the live animal segment captured the largest market share during the forecast period.

Based on products and services, the animal genetics market has been segmented into live animals, genetic materials, and animal genetic testing services. Factors attributable to the large revenues of the live animal sector include the high demand for live animals for breeding purposes. The introduction of disease-resistant animals has increased the demand for live animals, as they are economically viable for the owners and increase their profitability.

Poultry constituted the largest market for animal genetics Share in the live animal sector during the forecast period.

In the live animal segment, poultry captured the largest market share during the forecast period. This can be attributed to the strong demand for poultry and eggs in developed countries. In addition, due to the increasing population and rapid urbanization in developed countries, the demand coming from these regions is also increasing significantly.

In the germplasm segment, semen captured the largest market share during the forecast period.

Under the heading of genetic material, semen had the largest share, most of which came from bovine semen during the prediction period. The growth in this market is primarily driven by the growing need for high-yield animal husbandry to meet the growing demand for meat and other animal-derived products.

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Europe dominates the animal genetics market during the forecast period.

Europe captured the largest share of the market in 2020. Improving access to well-established technologies and distribution channels, growing demand for livestock food products, high intake of animal-derived proteins and increased animal welfare activities are the main factors contributing to these.

Major players in the global animal genetics market include Neogen (US), Genus (UK), URUS (US), EW Group (Germany), Groupe Grimaud (France) and CRV Holding (Netherlands). , Topigs Norsvin (Netherlands), Zoetis (US), Envigo (US), Hendix Genetics (Netherlands), Animal Genetics (US), VetGen (US), DanBred (Denmark), Tropical Bovine Genetics (India) ), Trans Ova Genetics (US), Inguran LLC dba ST Genetics (US), Semex Alliance (Canada), Veterinary Genetics (US), Cobb-Vantress (US), Milk Source (US), and Eurogene AI Services (Ireland).

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