Animal Genetics Market Projected to Reach $9.12 Billion by 2031, Driven by Advancements in Genetic Testing and Breeding Techniques


Posted October 21, 2024 by Prajwalagale001

Animal Genetics Market Projected to Reach $9.12 Billion by 2031, Driven by Advancements in Genetic Testing and Breeding Techniques
 
Meticulous Research®, a prominent global market research firm, has unveiled a new report titled “Animal Genetics Market by Testing Services (DNA Profile Testing, Genetic Traits Testing, Genetic Disease Testing, and Others), Sample Type (Blood, Tissue, Semen, Embryo, and Others), Animal Type (Companion Animals, Livestock, and Others), End User (Veterinary Hospitals, Academic Institutions, Animal Breeders, and Pet Owners), and Geography - Global Forecast to 2031.” This extensive analysis projects that the animal genetics market will reach a valuation of $9.12 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.8% during the forecast period.

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Understanding Animal Genetics: A Historical Perspective

Animal genetics has long played a critical role in agriculture and animal husbandry. Crossbreeding, an age-old practice, has been employed for generations to mate animals from different breeds, amalgamating desirable traits to develop improved varieties. Traditionally, this practice depended solely on observable physical characteristics, with little understanding of the underlying genetics. However, recent advancements in genetic testing have transformed this field, enabling breeders to utilize genetic insights to enhance breeding outcomes.

Today, genetic testing provides breeders and farmers with vital information regarding genetic profiles and trait-associated genes. By leveraging these insights, they can better manage breeding programs, leading to superior generations of farm animals characterized by increased meat and milk production and improved disease resistance.

Key Drivers of Market Growth

Several factors are propelling the growth of the animal genetics market:

Precision Breeding Techniques: There is an increasing demand for precision breeding techniques aimed at improving livestock and companion animal health and productivity. Breeders are seeking ways to optimize genetic selection processes to produce healthier and more productive animals.
Awareness of Genetic Testing: Growing awareness among farmers and pet owners regarding the benefits of genetic testing for infectious diseases is driving market growth. Genetic testing helps identify predispositions to specific diseases, allowing for better management and prevention strategies.
Adoption of Genomic Technologies: The rising adoption of advanced genomic technologies for livestock and companion animals is another key factor fueling market expansion. These technologies enhance breeding efficiency and contribute to better health outcomes for animals.
Government Support: Various government initiatives and funding support for animal genetic research and development are crucial to market growth. Many countries recognize the importance of animal genetics in food security and public health, leading to increased investments in this area.
Prevalence of Genetic Diseases: The rising incidence of genetic diseases among animals also contributes to the demand for genetic testing. By identifying and managing these conditions, breeders can improve overall animal health and reduce economic losses.
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Emerging Opportunities

Emerging markets, particularly in the Asia-Pacific and Latin America regions, present significant growth opportunities for players in the animal genetics market. These regions are experiencing rapid growth in livestock and pet populations, creating a strong demand for genetic testing services. Moreover, the development of portable and affordable genetic testing solutions for on-farm or point-of-care applications is likely to stimulate further market growth.

Key Market Segmentation

The animal genetics market is segmented into various categories, allowing for a comprehensive analysis of trends and opportunities:

Testing Services: This segment includes DNA profile testing, genetic traits testing (covering traits like coat color, body size, etc.), genetic disease testing (including infectious diseases and inherited disorders), and other testing services. The genetic disease testing segment is projected to register the highest CAGR of 6.7% during the forecast period. The widespread prevalence of infectious diseases in livestock and the growing demand for early detection and management of animal diseases are driving this growth.
Sample Type: The market is also categorized by sample type, including blood, tissue, semen, embryo, and other sample types. The blood sample segment is expected to witness the highest growth rate due to the convenience, reliability, and ease of disease identification offered by blood samples in genetic testing.
Animal Type: This segment comprises companion animals (dogs, cats), livestock (poultry, porcine, bovine, fish), and other animals. The companion animals segment is anticipated to hold the largest market share, driven by the increasing population of pets and rising expenditures on their health and breeding.
End User: The end-user segment includes veterinary hospitals and clinics, academic and research institutes, animal breeders, and pet owners. The animal breeders segment is expected to account for the largest share, attributed to the high demand for superior genetic quality livestock and the growing adoption of genetic testing for commercial purposes.
Innovations and Practices in Animal Genetics

The application of genetic testing in animal breeding is revolutionizing the industry. Progeny testing, for example, is a common practice in the beef and dairy industries, allowing breeders to assess and select superior breeding stock. By utilizing progeny genetic testing, breeders can identify optimal sires for artificial insemination, ensuring future generations are more productive and possess desirable health traits. This innovation not only enhances productivity but also contributes to the financial viability of farms.

Furthermore, advancements in genetic technologies are enabling breeders to conduct comprehensive evaluations of genetic traits, paving the way for tailored breeding programs that maximize the potential of livestock and companion animals.

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Geographic Insights

The animal genetics market analysis includes a comprehensive review of major geographical regions:

North America: The largest share of the animal genetics market is anticipated in North America, driven by established agricultural practices and a high degree of awareness regarding genetic testing. However, emerging economies such as India and China are expected to witness the highest CAGR during the forecast period. The rapid growth in these regions can be attributed to increasing livestock populations, substantial animal-derived product exports, and a rise in pet ownership.
Asia-Pacific: This region presents significant growth opportunities, with a large population base of livestock and a growing demand for genetic testing solutions. Various governmental and private organizations are engaged in animal genetics research and breeding programs, further supporting market expansion.
Latin America: The growth of livestock and pet populations in Latin America is expected to bolster demand for animal genetics solutions, driven by the need for enhanced productivity and disease management.
Key Players in the Animal Genetics Market

The animal genetics market features a competitive landscape with several prominent players, including:

Animal Genetics, Inc. (U.S.)
Zoetis Inc. (U.S.)
Mars Petcare (Part of Mars, Incorporated) (U.S.)
Embark Veterinary, Inc. (U.S.)
Neogen Corporation (U.S.)
Basepaws Inc. (U.S.)
LABOKLIN GMBH & CO.KG (Germany)
Generatio GmbH (Germany)
Vetgen LLC (U.S.)
FarmLab Diagnostics (Ireland)
EasyDNA (Part of Genetic Technologies Limited) (U.S.)
These companies are actively engaging in research and development to introduce innovative genetic testing services and products that meet the evolving demands of breeders and pet owners.

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About Meticulous Research®

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Issued By Prajwal Agale
Country India
Categories Research
Last Updated October 21, 2024