Animal Genetics Market Size Share Trends Growth Demand and Competitive Analysis Insights 2022-2029 | DataM Intelligence

November 07 21:30 2022
Animal Genetics Market Size Share Trends Growth Demand and Competitive Analysis Insights 2022-2029 | DataM Intelligence
DataM Intelligence
Animal Genetics Market is expected to grow at a high CAGR of 4.9% during the forecasting period (2022-2029).

Market Overview:

Animal Genetics Market is expected to grow at a high CAGR of 4.9% during the forecasting period (2022-2029).

Animal genetics includes the study of the heredity and version inside the farm, domestic and wild animals. It is the take a look at of inheritance, bodily genetic traits, gene expression, and animal breeding. The animal genetics marketplace is ruled by way of the availability of numerous animal genetics products along with stay animals, genetic fabric, and genetic checking out services.

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Market Dynamics

The marketplace is driven with the aid of the increasing demand for animal genetics for DNA testing, genetic trait checking out, genetic sickness schooling, and animal breeding programs. Animal genetics provide several blessings along with livestock red meat feeding, growing seed stock, and farm animal manufacturing.

Animal genetics is useful for the identity of the superior breeds inbreeding to boom the high replica fee. The increasing intake of animal proteins primarily based on nutritional dietary supplements and food shall stimulate market growth. There is growing adoption of advanced genetic technologies together with synthetic insemination, embryo transfer, and others. There is a developing focus on veterinary genetic diseases.

The market is witnessing the manufacturing enlargement for the manufacturing of animal genetics merchandise. For instance, in July 2018, Hy-Line International, the world leader in layer poultry genetics released the sector’s largest layer hatchery by using Huayu Agricultural Technology Co., Ltd., named the Huayu International Poultry Incubation Center. This hatchery has a manufacturing capability of 60 million woman commercial chicks yearly. The hatchery equipment, layout, production, and biosecurity are world-class.

In February 2017, Novogen launched a brand new GP website online in Ile-et-Vilaine, France. The new building is built in a U form throughout a complete floor vicinity of one,920 m2. It has the potential to maintain approximately 13k Grand Parents in houses measuring kind of 800m2 each which are prepared with vital computerized nest bins. The integration of this new manufacturing web page would allow NOVOGEN to in addition grow the production region and ensure that the customers are continuously provided with the best pleasant merchandise.

Market Segmentation:

By Live Animals

  • Porcine
  • Bovine
  • Poultry
  • Canine

By Genetic Materials

  • Embryo
  • Semen

By Services

  • Genetic Trait Testing
  • Genetic Diseases Testing
  • DNA Typing

Competitive Analysis

The global animal genetics market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition. Neogen Corporation, URUS, Genus Plc., Groupe Grimaud, EW Group GmbH, Zoetis, Animal Genetics, Vetgen are the leading market players with significant market share. The major players are using product development, novel product launches, market expansion, and product diversification strategies for holding their position in the market.

The companies are entering into collaborations, mergers, strategic partnerships, and acquisitions to increase the demand for Animal Genetics and their expansion across the globe. For instance, In September 2018, Neogen Corporation had acquired the assets of Livestock Genetic Services, LCC, a Virginia-based company that specializes in genetic evaluations and data management for cattle breeding organizations. This acquisition would enhance the company’s in-house genetic evaluation capabilities, and complement the company’s unparalleled global network of animal genomics laboratories.

In May 2018, Recombinetics, a Minnesota company had entered into the collaboration with the Canadian semen distributor Semex to help bring more polled genetics into dairy cattle breeding. The alliance would help the company to utilize precision breeding in an effort to eliminate dehorning. This collaboration would increase the number of polled cattle with high-merit dairy genetics.

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