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Thursday, 18 April 2024
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Animal Genetics Market is expected to reach US$ 8,941.90 million by 2028

The global animal genetics market share is projected to grow from USD 6,132.64 million in 2022 to USD 8,941.90 million by 2028, is further segmented by type, animal, and genetic material.

By The Insight Partners

According to our new research study on “Animal Genetics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Animal, and Genetic Material,” the market is expected to grow from US$ 6,132.64 million in 2022 to US$ 8,941.90 million by 2028; it is estimated to grow at a CAGR 6.5% during 2022–2028. Factors driving the animal genetics market growth are the growing preference for animal-derived food products and the rising adoption of progressive genetic practices.

Based on type, the animal genetics market is segmented into products and services. The services segment held a larger market share in 2022; the same segment is estimated to register a higher CAGR during the forecast period. The service segment is further divided into DNA typing, genetic trait tests, genetic disease tests, and others. The DNA typing segment held the largest share of the market for animal genetics services in 2022. Also, the genetic disease tests segment is estimated to register the highest CAGR in the market for services during the forecast period. The growth of the market is driven by the increasing services for animal breeding to enhance the quality and production of animal-based food and non-food products. Many laboratories are offering cost-effective services that enable the growth of the market. In Houston, Texas, US, Laboratory Animal Genetic Services (LAGS)—supported by the Cancer Center Support Grant—offers cost-effective, customized genetic analysis for laboratory animal research and studies. Thus, the presence of such laboratories is contributing significantly to the growth of the market and is expected to show a similar trend in the coming years.

Animal Genetics Market, by Region, 2022 (%)

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00003517

Source: The Insight Partners Analysis

Research activities in genomic laboratories were widely affected in 2020 during the COVID-19 pandemic. Many animal laboratories conducting molecular testing in the region shifted their focus toward COVID-19 testing. With a rise in demand for PCR-based COVID-19 tests during the pandemic, animal laboratories had to shift their focus to this diagnostic area, which resulted in delayed animal genomic services. On the other hand, post-pandemic, the animal genetics market experienced good growth opportunities as SARS-CoV-2 is a zoonotic virus. A few animals, such as dogs, cats, ferrets, and minks, were tested positive for COVID-19. Thus, the lack of evidence of the origin of the transmission of COVID-19 from animals to humans, and insufficient insights into pathogenicity have provided vital growth opportunities for research in animal genetics. 

A few prominent players operating in the animal genetics market are Neogen Corp, Genus Plc, Topigs Norsvin Nederland B.V, Zoetis Inc, Hendrix Genetics B.V, Inotiv Inc, Animal Genetics Inc, Alta Genetics Inc, GROUPE GRIMAUD LA CORBIERE, and Charles River Laboratoires International Inc. Companies are launching new and innovative products and services to sustain their position in the animal genetic product market. In June 2023, Charles River expanded its Triple-Immunodeficient Mouse Model Portfolio. The new NCG mouse strains are best suited for studies in oncology, immunology, and infectious disease. NCG Plus portfolio expands the scope of preclinical research by including humanized mice. It can be used to recapitulate the human immune system using human peripheral blood mononuclear cells (PBMCs) and human hematopoietic stem cells (HSCs), which makes this model ideal for cancer immunotherapy research.

The report segments the animal genetics market as follows:

Based on type, the animal genetics market is bifurcated into services and products. In terms of animal, the market is segmented into porcine, poultry, bovine, canine, and others. The animal genetics market, by genetic material, is bifurcated into embryo and semen. Based on geography, the animal genetics market is segmented into North America (US, Canada, and Mexico), Europe (France, Germany, UK, Spain, Italy, and Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, UAE, South Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

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