Animal Genetics Market Value By Product & Services (Genetic Material, Animal Type, Service Type), By End-user (Veterinary Hospitals & Clinics, Research Centers & Institutes), By Region - Industry Share, Statistics & Forecast, 2023 – 2032

MVI Statistics and Viewpoints:

• Animal Genetics Market size surpassed USD 5.7 Billion in 2022 
• The market is predicted to attain at 7.3% CAGR from 2023 to 2032. 
• By the end of the forecast period, the industry is anticipated to reach a valuation of around USD 11.5 Billion.

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Animal genetics manufacturers are focused on genetic improvement, utilizing advanced genomic technologies, managing animal health and disease, optimizing breeding programs, and addressing ethical considerations. They aim to enhance desirable genetic traits in animals, such as disease resistance and product quality, through research and development. By leveraging genomic technologies, they can identify and select animals with desired traits more efficiently. Additionally, manufacturers prioritize animal welfare by promoting health management and reducing the need for veterinary interventions.

Market Overview:

The animal genetics market refers to the study and application of genetic principles in animals to improve their genetic traits and overall productivity. It involves the analysis, selection, and manipulation of animal genetic material to enhance desired traits such as disease resistance, growth rate, meat quality, milk production, and reproduction. The market plays a crucial role in animal breeding, livestock production, and conservation efforts. The animal genetics industry is witnessing rapid advancements driven by technological innovations, increased understanding of animal genomes, and the growing demand for sustainable and efficient animal production. As the market evolves, it is expected to continue playing a vital role in meeting the global demand for animal-derived products, conserving biodiversity, and enhancing the overall productivity and welfare of animals.

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Growth Drivers:

• Increasing Demand for Animal-Derived Products: The rising global population, coupled with changing dietary preferences, has led to an increased demand for animal-derived products such as meat, milk, and eggs. This growing demand puts pressure on livestock producers to enhance productivity and improve the quality of animal products. Animal genetics plays a vital role in meeting this demand by selectively breeding animals with desirable genetic traits, resulting in improved productivity and higher-quality products. 
   
• Advancements in Genetic Technologies: Rapid advancements in genetic technologies, such as next-generation sequencing, genotyping, and gene editing, have revolutionized the field of animal genetics. These technologies have become more accessible and cost-effective, enabling wider adoption across the industry. The availability of advanced tools and techniques allows for a more precise and efficient selection of desirable genetic traits, accelerating the genetic improvement of animals.

Restraints:

• Limited Adoption in Developing Regions: The adoption of advanced animal genetics technologies and services is often concentrated in developed regions with well-established livestock industries and infrastructure. In contrast, developing regions may lag in the adoption of animal genetics due to various factors such as limited resources, lack of awareness, and inadequate support systems. Bridging the gap and promoting the adoption of animal genetics technologies in developing regions is essential for market growth and addressing global food security challenges.

By End-user Synopsys:     

The animal genetics market is segmented by technology into veterinary hospitals and clinics, research centers and institutes, and others. Among these segments, the research centers and institutes segment is expected to hold the largest share of the animal genetics market during the forecast period. Research centers and institutes are at the forefront of genetic advancements in animals. They conduct research to unravel the intricacies of animal genomes, develop new genetic tools and technologies, and explore novel applications in animal genetics. These institutions drive innovation and contribute to the expansion of scientific knowledge in animal genetics. They play a pivotal role in conducting studies on hereditary diseases, genetic disorders, and genetic diversity in animal populations. Research findings from these centers and institutes guide breeding programs, inform policy decisions, and enhance the overall understanding of animal genetics.

Regional Overview:

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The North America region held over 39% share of the animal genetics market in 2022. The region has a well-developed livestock industry, advanced veterinary healthcare infrastructure, and a strong focus on genetic improvement. The United States and Canada are major contributors to the market, driven by a high demand for quality animal products, technological advancements, and a strong research base in animal genetics. The region is home to key market players, research institutions, and genetic service providers, further contributing to its market share.     

The Asia-Pacific region is slated to grow the fastest in the animal genetics market over the forecast period. Rapid urbanization, population growth, and increasing disposable incomes are driving the demand for animal-derived products. Countries like China, India, and Australia have large livestock populations and are focusing on genetic improvement to enhance productivity and meet the rising demand for animal products. The region is witnessing increased investments in research and development, adoption of advanced genetic technologies, and collaborations with international players, contributing to its market share.

Key Development:

• In June 2022, Basepaws, a petcare genetics company, was purchased by Zoetis. This acquisition expands the company's portfolio in genetic testing and data analytics, which will aid in the advancement of animal care.

Top companies includes in the global animal genetics market:

• Neogen Corporation   
• Genus  
• URUS   
• EW Group   
• Groupe Grimaud  
• CRV Holding   
• Topigs Norsvin   
• Zoetis   
• Envigo   
• Hendix Genetics   
• Animal Genetics   
• VetGen   
• DanBred   
• Trans Ova Genetics   
• Inguran LLC dba ST Genetics  
• Semex Alliance   
• Other Players

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In-depth analysis of animal genetics market along with industry coverage and forecasting for the following segments: 

Market Size, By Product & Services

• Genetic Material
• Animal Type
• Service Type

Market Size, By End-user

• Veterinary Hospitals & Clinics 
• Research Centers & Institutes
• Others

Market Size, By Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America