Meticulous Research®, a leading global market research company, has released a new comprehensive report titled “Animal Genetics Market Size, Share, Forecast, & Trends Analysis by Animal (Companion [Dogs, Cats], Livestock [Poultry, Porcine, Bovine]), Services (DNA Profile, Genetic Diseases, Traits), Sample Type (Blood, Tissue, Embryo), End User - Global Forecast to 2031.” According to this report, the global animal genetics market is projected to reach an impressive $9.12 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.8% during the forecast period from 2024 to 2031.

Download FREE Brochure of Animal Genetics:- https://www.meticulousresearch.com/download-sample-report/cp_id=5863?utm_source=article&utm_medium=social&utm_campaign=product&utm_content=03-10-2024

The Evolution of Animal Genetics
The evolution of animal genetics has transformed the landscape of livestock and companion animal breeding. Crossbreeding, a traditional practice aimed at producing superior varieties by mating animals from different breeds, has evolved significantly over the years. Initially reliant on observable physical characteristics, modern crossbreeding now incorporates sophisticated genetic insights through advanced testing methodologies.

In recent years, there has been an increased emphasis on utilizing genetic testing to generate comprehensive data on genetic profiles and trait-associated genes. This shift has empowered breeders and farmers, enabling them to make informed decisions that enhance meat and milk production, improve disease resistance, and foster the development of superior generations of animals.

Factors Driving Market Growth
Several key factors are fueling the growth of the animal genetics market:

Demand for Precision Breeding Techniques: There is a burgeoning demand for precision breeding methodologies that improve the health and productivity of both livestock and companion animals. Genetic testing provides actionable insights that enhance breeding programs.

Awareness of Genetic Testing Benefits: Increasing awareness among farmers and pet owners regarding the advantages of genetic testing for managing infectious diseases is propelling market growth. This awareness facilitates better health management and productivity optimization.

Adoption of Advanced Genomic Technologies: The rising adoption of innovative genomic technologies for both livestock and companion animals enhances breeding outcomes and disease management practices.

Government Initiatives and Funding Support: Support from government entities and institutions for animal genetic research and development is fostering an environment conducive to market growth.

Prevalence of Genetic Diseases in Animals: The rising incidence of genetic diseases among various animal species underscores the necessity for robust genetic testing solutions.

Opportunities in Emerging Markets
Emerging markets, particularly in the Asia-Pacific and Latin America regions, present significant growth opportunities for players in the animal genetics market. As livestock and pet populations expand, the demand for advanced genetic testing solutions rises. Furthermore, the development of portable and cost-effective genetic testing solutions for on-farm or point-of-care applications is set to accelerate market growth.

Market Segmentation Overview
The report offers a detailed analysis of the animal genetics market, segmented by various parameters:

Testing Services: The market is categorized into DNA profile testing, genetic traits testing (including coat color, body size, and other traits), genetic disease testing, and other testing services. The genetic disease testing segment is projected to register the highest CAGR of 6.7% from 2024 to 2031, driven by the rising prevalence of infectious diseases in livestock and the demand for effective disease management strategies.

Animal Type: The market is segmented into companion animals (such as dogs and cats), livestock (including poultry, porcine, and bovine), and other animals. The companion animals segment is expected to dominate the market share in 2024 due to the growing population of pet animals globally and increasing expenditure on their health.

Sample Type: The market is further divided into blood, tissue, semen, embryo, and other sample types. Blood samples are anticipated to witness the highest growth during the forecast period, attributed to their reliability and convenience for genetic testing.

End Users: The animal genetics market is segmented by end user into veterinary hospitals and clinics, academic and research institutes, animal breeders, and pet owners. The animal breeders segment is poised to capture the largest market share, driven by the demand for superior genetic quality in livestock and purebred companion animals.

Industry Competitors
The animal genetics market features a competitive landscape with key 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.
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 engaged in advancing genetic testing technologies, focusing on enhancing animal health and productivity through innovative solutions.

Geographic Insights
The report provides a thorough analysis of the animal genetics market across major geographic regions:

North America: Projected to account for the largest share of the animal genetics market in 2024, driven by robust animal agriculture practices, significant investment in genetic research, and a well-established infrastructure for livestock breeding.

Asia-Pacific: Emerging economies like India and China are expected to exhibit the highest CAGR during the forecast period, fueled by extensive livestock production, rising pet adoption rates, and governmental initiatives to improve animal genetics.

Europe, Latin America, and the Middle East & Africa: These regions also represent substantial opportunities, given the increasing focus on animal health and productivity improvements.

Future Outlook
The future of the animal genetics market appears promising, characterized by the integration of advanced genomic technologies and growing consumer demand for sustainable and healthy animal products. As the industry embraces innovative testing solutions and precision breeding techniques, the ability to enhance livestock and companion animal health will significantly improve.

Additionally, with increasing awareness of genetic testing benefits among pet owners and livestock farmers, along with supportive government policies, the animal genetics market is set for continued growth.

Read Full Report :- https://www.meticulousresearch.com/product/animal-genetics-market-5863

Contact Us:
Meticulous Research®
Email- [email protected]
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research