Animal Genetics Market Soars to USD billion , witnessing a CAGR of 6.4 during the forecast period 2024-2032

Key Insights

The Animal Genetics Market size was valued at USD 6.80 USD billion in 2023 and is projected to reach USD 10.50 USD billion by 2032, exhibiting a CAGR of 6.4 % during the forecast period.Animal genetics is the division of biology that studies the genetic constitution, the inheritance patterns, and the diversity in animals. Genetics includes the study of genes, chromosomes and genetic traits in many animal groups including livestock, pets, wildlife and model organisms. Prominent animal genetics features are calculation of genetic variation in populations, knowledge of how traits are transmitted from parents to offspring, and application of genomic technologies for genetic research and even manipulation. Selective breeding and genetic improvement constitute one of the primary goals of animal genetics as they allow the introduction of desirable traits into particular animal breeds. This is the process of locating genetic markers linked with traits like the resistance to disease, productivity, growth rate, the reproductive performance, coat color and behavioral characteristics. Animal genetics becomes a pioneering aspect of selective breeding of animals to produce better genetic products that could include increased milk production in dairy cattle and improved meat quality in livestock. This leads to the increase in agricultural productivity, sustainability, and profitability. Animal genetics has a significant influence on conservation biology by studying the genetic diversity in endangered species, genetically separating distinct populations and designing breeding programs to conserve genetic variation and prevent genetic disorders. Furthermore, animal genetics research has implication for human health and biomedical science because the things found out from the study of animal genomes expand our knowledge of genetic diseases, development processes, and potential cures. In general, animal genetics plays a crucial role in the genetic research development, livestock production improvement, sustainable agriculture promotion, and biodiversity conservation.

Animal Genetics Trends

• Growing adoption of genomic selection and precision breeding techniques
• Increased focus on animal health and welfare
• Rising demand for personalized and species-specific genetic solutions

Driving Forces: What's Propelling the Animal Genetics Market

• Increasing livestock production: The growing global population and rising demand for animal protein are fueling the expansion of the livestock industry, driving the need for improved genetic traits.
• Advancements in genetic technologies: The development of novel genetic engineering and sequencing techniques has enhanced the accuracy and efficiency of animal breeding programs.
• Government initiatives: Governments worldwide are providing support for animal genetics research and development projects, recognizing the economic and social benefits of improved animal health and productivity.

Challenges and Restraints in Animal Genetics Market

• Ethical concerns: Genetic engineering in animals poses ethical dilemmas, including concerns about genetic modifications potentially affecting animal health and well-being. Moreover, societal attitudes towards the ethical implications of altering animal genetics need to be considered.
• Stringent regulatory oversight: Stringent regulations in different jurisdictions create challenges for the development and commercialization of animal genetics products. These regulations aim to ensure responsible use and prevent unintended consequences but may also slow down innovation and impede market entry.
• Financial constraints: The high cost associated with genetic testing and breeding programs can be a barrier for small-scale farmers and breeders. The affordability of these technologies may limit their widespread adoption and accessibility, particularly in developing countries.
• Technical limitations: The science behind animal genetics is still evolving, and there may be technical limitations in accurately predicting and controlling genetic outcomes. This can lead to uncertainties and risks associated with the use of these technologies in practical settings.
• Lack of skilled workforce: The implementation of animal genetics requires specialized knowledge and expertise. A shortage of qualified professionals in this field can hinder the efficient adoption and utilization of these technologies, especially in remote or resource-constrained regions.

Emerging Trends in Animal Genetics

• Personalized medicine for animals: Tailored genetic therapies and treatments for specific diseases and conditions in animals.
• Genomic databases: The establishment of large-scale genomic databases allows for increased collaboration and sharing of genetic information within the animal genetics industry.
• Artificial intelligence (AI) integration: AI algorithms improve the accuracy of genomic predictions and aid in the design of optimal breeding strategies.

Growth Catalysts in Animal Genetics Industry

• Rising awareness of animal health and welfare: Consumers are increasingly demanding products from ethically and sustainably raised animals, driving the adoption of genetic solutions to improve animal well-being.
• Increased investments in animal genetics research: Biotechnology companies and pharmaceutical organizations are allocating significant resources to develop innovative genetic technologies for animal health and production.
• Partnerships and collaborations: Strategic alliances between research institutions, animal breeding companies, and industry players accelerate the development and commercialization of animal genetics solutions.

Market Segmentation: Animal Genetics Analysis

Product & Services:

• Animal genotyping and sequencing
• Veterinary diagnostics
• Breeding services
• Genetic counseling

Animal Type:

• Cattle
• Swine
• Dairy animals
• Poultry
• Fish

Service Type:

• DNA sequencing and analysis
• Genetic testing
• Artificial insemination

End-user:

• Veterinary hospitals & clinics
• Research centers & institutes
• Farmers and breeders
• Industrial and commercial users

Leading Players in the Animal Genetics Market

• Genomia s.r.o. (Czechia)
• Neogen Corporation (United States)
• Mars, Incorporated (United States)
• Zoetis (United States)
• Genetic Technologies Limited (Australia)
• TOPIGS NORSVIN (Netherlands)
• URUS Group LP (United States)
• Genus (United Kingdom)

Significant developments in Animal Genetics Sector

• 2021: Thermo Fisher Scientific acquires Affymetrix, expanding its offerings in animal genomics and genetic analysis.
• 2022: Archer Daniels Midland invests in gene-editing startup Genus plc to develop precision breeding solutions for livestock.

Comprehensive Coverage Animal Genetics Market Report

This report provides an in-depth analysis of the global animal genetics market, covering the following aspects:

• Market size and projections
• Key market drivers and restraints
• Emerging trends and technological advancements
• Market segmentation by product & services, animal type, service type, and end-user
• Competitive landscape and leading players
• Regional market analysis
• Import and export analysis
• Patent/trademark analysis

Regional Insight

• North America dominates the animal genetics market, followed by Europe and Asia-Pacific.
• Growing livestock production in emerging economies, such as China, India, and Brazil, is expected to drive market growth in these regions.

DROCT

• The DROCT (Decision Report on the Convergence of Technologies) is an analysis indicating the potential impact of emerging technologies on the animal genetics market.
• Technologies such as AI, blockchain, and CRISPR-Cas9 have the potential to revolutionize the industry by enhancing the efficiency and accuracy of genetic analysis and breeding programs.

Pricing Analysis

• The report provides an analysis of pricing trends in the animal genetics market.
• Factors influencing pricing, such as the cost of genetic testing, equipment, and labor, are discussed.

Import And Export Analysis

• The report analyzes import and export data related to animal genetics products.
• Major importing and exporting countries are identified, and trends in international trade are examined.

Segmentation

• The report provides a detailed segmentation of the animal genetics market based on various criteria.
• This includes segmentation by product & services, animal type, service type, end-user, and region.

Patent/Trademark Analysis

• The report offers an analysis of patent and trademark activity in the animal genetics industry.
• This includes information on key patents and trademarks, along with the companies and institutions involved.