The Global Animal Genetic Products Market is forecast to reach USD 7.13 Billion by 2026, according to a new report by Reports and Data. The market is forecasted to witness an increase in demand due to increase in consumption of animal proteins and rapid increase in urbanization across the globe. To fulfill the rising demand, producers have inclined towards animal genetics to breed high-quality livestock and secure large-scale production. The demand for genetic testing has increased over the years due to the rise in animal diseases, increasing the prevalence of zoonotic diseases and a rise in the trend of companion animals.
Increasing investment in research and development of new drugs and vaccines by both government and private companies is expected to propel the market. The high cost of animal testing, low returns on R&D, and concerns about the adverse effect of genetic engineering on animals are some of the restraints limiting the growth of the market.
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The Animal Genetic Products market report offers key insights into market scope along with emerging growth opportunities over the forecast period. The report also provides information about the competitive landscape of the global Animal Genetic Products market. The global Animal Genetic Products market is fragmented due to presence of numerous key players on a global and regional scale. Key players are focused on mergers and acquisitions, joint ventures, collaborations, partnerships, and research and development activities to expand their product portfolio and gain a robust footing in the market.
Key Companies Operating in the Animal Genetic Products Market and profiled in the report are:
Genus Plc, Hendrix Genetics BV, Alta Genetics, CRV Holdings B.V., Neogen Corporation, VatGen, Animal Genetics Inc., Zoetis, Urus, and Envigo
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The report provides a significant assessment of the recent market trends, revenues, segments, and key regions across the globe. The regional analysis covers major geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report analyzes key regions for production and consumption patterns, import/export, market share, revenue contribution, growth rate, and supply and demand ratio for the forecast period 2024-2028. It also discusses the impact of government regulations, macro- and micro-economic factors, and economic growth of the region on overall market growth.
Regional analysis covers:
- North America (U.S.A., Canada)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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By Live Animals (Revenue, USD Billion; 2017-2027)
- Porcine
- Poultry
- Canine
- Bovine
- Others
By Genetic Material (Revenue, USD Billion; 2017-2027)
- Embryo
- Semen
By Testing Services (Revenue, USD Billion; 2017-2027)
- Genetic Diseases tests
- Genetic Trait Tests
- DNA Typing
- Others
Key Questions Answered by the Report:
- What was the market size of the global Animal Genetic Products market in 2020? At what rate is the market expected to grow over the forecast period?
- What are the key growth driving and restraining factors of the Animal Genetic Products market?
- What are key opportunities and growth prospects of the Animal Genetic Products industry is expected to witness over the forecast period?
- Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
- Which region is expected to dominate the market growth over the forecast period?
- Which segments are expected to register lucrative growth over the forecast period?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?
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