Market Overview:

Animal genetics is a branch of genetics that pacts with the study of genetic variation and inheritance, primarily for domestic and wild animals. For the commercial level, animal genetics is employed for services like DNA typing, genetic disease testing, and genetic trait testing. This methodology uses hybrid population, ontogenetic, and cytological studies for determining the genetic hybridizations. For example, a genetically modified cow might be able to produce more milk and can be less prone to common cattle diseases, like clostridial disease, bovine respiratory disease complex, etc., hence, effectively escalating overall profit of the cattle farmers. The global animal genetics market was valued USD 4.7 billion in 2019 and is expected to be growing at a CAGR of 8.48%, to reach USD 7.0 billion by 2024.

Market drivers and restraints:

The major factor responsible for influencing this market is rising consumption of animal-derived protein, growing global population and quick urbanization, and growing focus on identifying superior breeds have augmented the growth of the toxicology testing market. Nevertheless, factors such as, the high cost of animal testing, stringent regulatory framework for genetic engineering, and lack of skilled professionals and are estimated to restrict the market growth throughout the forecast period.

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Report segmented as:

By product:

• genetic materials
• live animals

By services:

• genetic disease tests
• DNA typing
• gene trait tests
• others

By end user:

• veterinary hospitals & clinics
• diagnostic centers
• research centers and institutes
• others

Geographical analysis:

On the basis of geography, the Global Animal Genetics Market is segregated into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas is sub-segmented into North America and South America. The North American region is further segregated into the US and Canada. The European region is segmented into two regions, namely, Western Europe and Eastern Europe.

Important market players:

Some of the major players in the global animal genetics market include Neogen Corporation (US), Genus (UK), URUS (US), EW Group (Germany), Groupe Grimaud (France), CRV Holding B.V. (The Netherland), Topigs Norsvin (Netherlands), Zoetis (US), Envigo (US) Hendrix Genetics BV (The Netherland), Animal Genetics (US), Alta Genetics (US), vetGen (US), and others.

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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