Animal Genetics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Animal Genetics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Report Digest
Global Animal Genetics Market: Overview
The global animal genetics market is likely to rise at a healthy growth rate over the assessment timeframe. Augmented consumption of protein extracted from animals is prophesized to favor the growth of the global animal genetics market in the forthcoming years. In addition, increasing populations generates massive demand for animal-based protein, which further benefits the market.
The global animal genetics market has been segmented on the basis of region and product and services. The sole objective of providing such an all-inclusive report is to offer a deep insight into the market.
Global Animal Genetics Market: Notable Developments
The global animal genetics market has gone through a few developments in the last few years. These market developments make a manifestation of how and what is influencing the growth of the global animal genetics market. One such development is mentioned below:
- In February 2019, Netherlands-based Hendrix Genetics B.V. along with a leading manufacturer of aquafeed and animal nutrition has acquired 80% of stake in Ecuador-based Macrobio S.A. The latter is a shrimp farm from Moxley Corporation S.A. Hendrix Genetics B.V. is a leading provider of multi-species animal breeding services. This strategic move by Hendrix Genetics is anticipated to expand its product portfolio and widen its reach globally.
Some of the key market players of the global animal genetics market are
- CRV Holding B.V.
- Hendrix Genetics BV
- Neogen Corporation
- Topigs Norsvin
- Groupe Grimaud
- Animal Genetics
Global Animal Genetics Market: Growth Drivers
High Demand for Animal Protein Places the Market on a High Growth Trajectory
The global animal genetics market is estimated to experience considerable growth over the review period. Such stellar growth of the market is attributed to the augmented adoption of genetic technologies and strict implementation of animal welfare regulations.
Likewise, livestock population has witnessed a substantial rise together with awareness related to the existence of animal genetic disorders. Besides, the need to cater to the unmet demands of animal protein is likely to add fillip to the global animal genetics market over the forecast timeframe.
With an objective to produce better milk and food products, there has been an escalation in the research and development activities by several scientists. Genetic modifications are likely to emerge as another factor supporting the expansion of the global animal genetics market in forthcoming years.
The market is also prophesized to be fuelled by rapid expansion of urbanization and rise in population, which place massive demand for animal protein. Increased adoption of various advanced genetic practices like embryo transfer, artificial insemination (AI) for production of modified breed on a large scale is estimated to favor the market in the years to come.
On the other hand, the dearth of properly skilled technicians and professional with expertise in genetic services is estimate to impede the growth of the global animal genetics market in years to come. Furthermore, strict regulations related to genetic engineering of animals together with high cost of animal testing is likely to obstruct the growth of the market.
Global Animal Genetics Market: Regional Outlook
Asia Pacific, the Middle East and Africa, South America, Europe, and North America comprise the major regions of the global animal genetics market.
Considering geographies, North America is likely to play a dominant role in the global animal genetics market over the assessment timeframe. Such regional supremacy is ascribed to the presence of a large number of well-known companies of the global animal genetics market. In addition, the presence of a well-established livestock industry is likely to propel the North America animal genetics market to prominence in the near future.
The global animal genetics market is segmented as:
Products and Services
- Live Animals
- Genetic Material
- Embryo
- Genetic Testing
The study presents a granular assessment and quantitative evaluation of:
- Key growth factors and prominent trends
- Size and share of key segments in overall market
- Key challenges and winning imperatives
- Factors shaping competitive landscape
- Insights into how contours of market will change in coming years
- Technological advances
- New avenues and imminent investment pockets
- Regulatory landscape shaping current and future strategies of companies
The region-wise assessment includes market dynamics in:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
- Which key factors will shape the competitive landscape?
- Which trends will stimulate research and development activities in different geographies?
- Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
- Which disruptions in market growth are likely to come with the new business models?
- Which are some of the recent overhauls in policies that may change the course of the market significantly?
- Which are the geographies that will form sizable sources of new streams to new and established players alike?
- How are top players likely to realign their strategy to counter the forces of competition?
- Which key strategies emerging players are likely to focus on to consolidate their position?
- Which changes in end-user preferences might affect the status quo held by the leading players?
- Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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