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Animal Genetics Market Size

Report ID: GMI4953
Published Date: Aug 2023
Report Format: PDF

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Animal Genetics Market Size

Animal Genetics Market size was valued at USD 4.7 billion in 2022 and is projected to reach USD 8.4 billion by 2032 with CAGR of 6%. Growing funding for animal genetics research, advancement in genetic technologies, and rise in implementation of animal welfare acts will drive the market. Also, rising focus of animal genetics providers on producing poultry animals with higher productivity to meet the growing market demand for dairy products and meat will drive the industry.

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Animal genetics involves the study and manipulation of genetic material within animal populations to understand inheritance patterns, traits, and breeding outcomes. It's the science of heredity in animals, encompassing techniques like selective breeding and DNA analysis to improve desirable traits, health, and overall quality within livestock and companion animals.

Animal Genetics Market Report Attributes
Report Attribute	Details
Base Year:	2022
Animal Genetics Market Size in 2022:	USD 4.7 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	6%
2032 Value Projection:	USD 8.4 Billion
Historical Data for:	2018 to 2022
No. of Pages:	100
Tables, Charts & Figures:	157
Segments covered:	Animal Type, Service, and Region
Growth Drivers:	Rising demand for animal-derived protein across the globe Increased adoption of advanced genetic technologies for large-scale production and quality breeds in developed countries Rising R&D investments to produce healthier food and milk products from livestock animals
Pitfalls & Challenges:	Shortage of skilled professionals in veterinary research

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Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The animal genetics industry was valued at USD 4.7 billion in 2022 and is estimated to reach USD 8.4 billion by 2032 driven by the rising funding for animal genetics research, advancement in genetic technologies, and rise in implementation of animal welfare acts.

The DNA typing segment accounted for a 42.4% revenue share in 2022 and is expected to witness considerable growth at 5.3% CAGR from 2023-2032 owing to the rising need for accurate pedigree verification and traceability is pushing for advanced genetic identification methods.

The North America animal genetics market is anticipated to reach USD 3,220.3 million by 2032 attributed to the presence of a robust and well-developed livestock industry, including dairy and beef production, which is fuelling the demand for advanced genetics.

Some of the top companies engaged in the animal genetics industry are Zoetis, Genus plc, Hendrix Genetics BV, NEOGEN CORPORATION, Envigo, VetGen, CRV Ambreed, EasyDNA, TOPIGS NORSVIN, and Animal Genetics Inc.