“Global Animal Genetics Market is anticipated to grow on account of growing demand for animal protein”, says Visiongain report
04 September 2019
Visiongain has launched a new pharma report Animal Genetics Market Report: By Products & Services (Animal Genetic Products, Live Animals (Poultry, Porcine, Bovine, Canine), Embryo (Bovine, Equine), Genetic Material (Bovine, Porcine), Genetic Testing (DNA Testing, Genetic Disease Testing)) and by Region.
Global animal genetics market is anticipated to grow on account of growing demand for animal protein, urbanization and increased adoption of advanced genetic technologies among other prominent factors. The global animal genetics market is anticipated to grow at a lucrative CAGR of 6.6% and anticipated to reach USD 8.43 Billion by 2029.
Animal genetics is the branch of science which is involved with maximizing necessary genetic traits, such as creating leaner meat-bearing animals. The animal geneticists have recognized components that can improve the development, health and capacity of animals to utilize nutrients in a better way. These developments in genetics can boost output while decreasing impacts on the environment.
Animals and cattle add 40% of the global value of agricultural production and add nearly a billion individuals globally to livelihoods and food safety. Animal genetics advances facilitate a more effective sector. For instance, over the previous decade, the amount of cattle has declined, yet overall beef and milk manufacturing has risen. This was mainly feasible because genetic advances led to improved feeding effectiveness for animals, which is critical to enhancing livestock production and reducing producers ' expenses.
For centuries, animal researchers have disregarded the races created by pastoralists as unproductive. As a consequence of well-intentioned and technically misguided breeding programs, a growing genetic homogeneity of livestock can be observed. It has been known that there is a risk that some breeds, particularly indigenous livestock, will become extinct thus leading to loss of breed diversity or the dilution of their genes.
For pastoralists, the value of indigenous animal races has always been unquestionable and they have established sophisticated breeding methods and institutions. Having developed in harsh settings, pastoralist races constitute genetic diversity reservoirs and maintain many genetic traits, such as vitality, fertility, and disease and drought resistance, which no longer occur in livestock kept in industrial systems. The commercial cattle manufacturing sector also progressively recognizes this importance.
North America holds majority of market share followed by Europe and will continue to dominate in the future as a result of a number of research projects in the region, coupled with funding for research institutes from the government, pet ownership, advanced animal health care base and adoption of latest diagnostic technologies among other contributing growth factors. Asia Pacific region is expected to experience the highest growth in terms of CAGR over the forecast period owing to growing market in South East Asia economies. In latest years, most of Southeast Asia has experienced fast economic growth and development, leading to increased consumer demand for animal products. In order to satisfy this requirement, intensified and exotic animal production systems were introduced. The livestock sectors of Southeast Asia, particularly the Philippines, Indonesia, and Thailand, have become increasingly dependent on imported breeds from areas such as the United States of America, the European Union, New Zealand, and Australia, to name a few.
Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations and launching new products in order to strengthen their position in the global single-cell genomics market. Companies are also expanding their R&D, distribution, and management facilities in order to expand their business and to hold a competitive edge in the market.
The comprehensive market report features companies such as ABS GLOBAL, INC., Alta Genetics Inc., Animal Genetics Inc., Antagene, CRV, Envigo, EW Group GmbH, Genus, Groupe Grimaud, Hendrix Genetics BV, Hypor BV, Inqaba Biotechnical Industries (Pty) Ltd, NEOGEN CORPORATION, SEMEX, Unistel Medical Laboratories (Pty) Ltd, Urus, Vetgen, and Zoetis Services LLC. among other prominent players.
Also the research study offers market estimation and forecast for the period ranging 2019–2029 for global markets such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Benelux, Russia, Poland, India, Japan, China, Australia, ASEAN, GCC, South Africa and North Africa.
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