Animal Genetics Market Revenue to Cross US$ 7,705.23 million by 2027 says, The Insight Partners

Rising Adoption of Progressive Genetic Practices Such as Artificial Insemination (AI) and Embryo Transfer Fuel Animal Genetics Market Growth

NEW YORK, UNITED STATES, March 30, 2022 /EINPresswire.com/ -- According to our new research study on “Animal Genetics Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Product, Genetic Material, Services, and Geography,” the global animal genetics market size is expected to reach US$ 7,705.23 million by 2027 from US$ 4,778.67 million in 2019; it is estimated to grow at a CAGR of 6.3% during 2019–2027.

North America held the largest market share of the animal genetics market. The US held the largest share in North America and is expected to continue with a similar trend over the forecast period. The market for animal genetics in the US is expected to grow rapidly owing to entry of new market players, various product launches, and increasing government initiatives. As per the Food and Agriculture Organization (FAO), animal genetics is one of the ways for the livestock development support. It is a broad field, ranging from characterization to conservation to genetic development. According to the National Institute of Food and Agriculture (NIFA), there has been dramatic improvements in animal production yields and efficiencies. NIFA, with the help of scientists from universities and research organizations and food animal industries, provides national leadership and funding opportunities to conduct basic, applied, and integrated research to increase the knowledge associated with animal genetics and genomics.

Download sample PDF Copy of Animal Genetics Market study at: https://www.theinsightpartners.com/sample/TIPRE00003517/

Animal Genetics Market: Competitive Landscape and Key Developments

NEOGEN Corporation, HENDRIX GENETICS BV, Zoetis Inc., geneOmbio Technologies Pvt Ltd, Genus, TOPIGS NORSVIN, Envigo, VetGen, ANIMAL GENETICS INC., ALTA GENETICS INC., and Groupe Grimaud are among the leading companies in the animal genetics market.

The global animal genetics market, based on product, is segmented into poultry, porcine, bovine, canine, and others. The porcine segment held the largest share in 2019 and is expected to witness the fastest CAGR during 2019–2027.

The global animal genetics market, based on service, is segmented into DNA typing, genetic trait tests, genetic disease tests, and others. The DNA typing segment held the largest share in 2019. However, the genetic disease tests segment is expected to witness the fastest growth rate during 2019–2027.

Growing focus on developing superior animal breeds using genetic engineering to obtain high reproduction rates for large-scale production of modified breeds is expected to drive the animal genetics market during the forecast period. Animal genetics emphasizes the inheritance and genetic variations in wild and domestic animals. This science is used at a commercial level for services such as testing genetic disorders, screening genetic traits, and typing DNA. For identifying genetic hybridizations, animal genetics uses various genetic practices, such as artificial insemination, embryo transfer, and cytological studies. Moreover, artificial insemination (AI) can reduce various risks involved in animal breeding and disease transmission. It is found that female offspring of cattle born through artificial insemination yield more milk than normal offspring. Additionally, the use of antibiotic-containing semen extensors is an effective step in preventing bacterial infectious diseases. Therefore, the entire AI process is considered more hygienic than natural mating.

Inquiry for Discount on Animal Genetics Market at: https://www.theinsightpartners.com/discount/TIPRE00003517/?utm_source=EinPressWire&utm_medium=10144

The market players focus on partnerships, collaborations, and acquisitions to develop genetically modified breeds and maintain their market share. For instance, in August 2020, Cogent and AB Europe collaborated to launch a novel sexed semen service for sheep producers in the UK. In May 2018, Recombinetics entered into a partnership agreement with SEMEX to implement a precision breeding program, which is expected to improve animal health and well-being through hornless dairy cattle genetics. According to the Brazilian Association of Artificial Insemination, the number of commercialized doses of semen increased from 7 million in 2003 to ~14 million in 2017. Thus, the rising adoption of genetic practices will support the market growth in coming years.

The animal genetics market share is anticipated to flourish with the development of new innovative products by market players.

In October 2020, Hendrix Genetics and Solidaridad entered into a partnership to provide sustainable poultry production in Mozambique and Zambia, Africa. Solidaridad is a local African poultry farming company that has secured access to the poultry genetics technologies from Hendrix Genetics.

In September 2020, Tropic Biosciences, the pioneering agricultural-biotechnology company, entered into a collaboration with Genus to explore the application of Tropic’s Gene Editing induced Gene Silencing (GEiGS) technology in porcine and bovine genetics.

In March 2019, Hendrix Genetics and Salmones Aysen partnered by signing a genetic service agreement. This partnership deal will offer Salmones Aysen, a Chile-based coho salmon producer, genetic and breeding support for their exclusive coho salmon strain in Chile.

Order a Copy of animal genetics market Share, Strategies and Forecasts 2022-2027 Research Report at: https://www.theinsightpartners.com/buy/TIPRE00003517/

Press Release: https://www.theinsightpartners.com/pr/animal-genetics-market
More Research: https://www.theinsightpartners.com/blog/

Sameer Joshi
The Insight Partners
+91 96661 11581
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn