A recent report published by Infinium Global Research on animal genetics market provides in-depth analysis of segments and sub-segments in the global as well as regional animal genetics market
Pune, India -- (SBWIRE) -- 12/03/2019 -- The Infinium Global Research analyzes the "Animal Genetics Market (Animal Genetic Products - Genetic Materials, and Live Animals; Services - Genetic Disease Tests, DNA Typing, Gene Trait Tests, and Other Services; End-user - Veterinary Hospitals & Clinics, Diagnostic Centers, Research Centers and Institutes, and Other End-users): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025." The global animal genetics market is projected to grow at a CAGR of 7.8% over the forecast period of 2019-2025.
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Focus on Identifying Superior Breeds Generates Opportunities for Animal Genetics Market
The increase in the global population, which exhibits demand for meat products is one of the major factors that drive the growth of the animal genetics market across the globe. The growing adoption of advanced genetic technologies and the rise in the implementation of animal welfare are some other factors that help in the growth of the animal genetics market. Growing awareness regarding veterinary genetic diseases and the rise in population of livestock animals to meet the unmet demands for animal-derived proteins further fuel the market.
However, the high cost of animal testing, the need for specific breeding programs for breeds with inferior economic performance, and economic sustainability in local breeds are some of the major factors that may restrain the growth of the global market through the forecast period. Moreover, the rising focus on identifying superior breeds creates an opportunity for the growth of the market in the next few years.
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Genetic Disease Test Segment Dominates the Global Animal Genetics Market
The global animal genetics market is fragmented based on animal genetic products, services, and end-user. In terms of animal genetic products, the market is segmented into genetic materials and live animals. The genetic materials are sub-segmented into semen and embryo. Similarly, the live animals are further sub-segmented into poultry, bovine, porcine, canine and others.
Based on services, the animal genetics market is divided into genetic disease tests, DNA typing, gene trait tests, and others. Out of all these segments, the genetic disease test segment is leading the market owing to the increasing adoption of genomic disease tests to stop economic losses. Based on end-user, the market is categorized into veterinary hospitals & clinics, diagnostic centers, research centers and institutes, and others.
The Dominance of North America Expected to Prevail Due to Technological Advancements Available in the Region
Geographically, the global animal genetics market has been characterized into North America, Europe, Asia Pacific, and Rest of the World. Among all, North America is holds the largest share of the global market and is expected to dominate the animal genetics market during the forecast period. This is attributed to the presence of key players in the animal genetics market in this region. Furthermore, the increase in the adoption of the latest technologies in animal genetics also fuels market growth in the North American region.
Moreover, the recognized livestock area and the growing demand for animal protein are expected to increase the growth of the market in the North American Region. Moreover, Asia Pacific is projected to grow at a fast speed through the forecast period. This is accredited to the growing population and increasing demand for animal products in this region. Besides, rising awareness towards animal welfare in emerging countries and the adoption of advanced animal genetic testing services help in the market growth in the Asia Pacific region.
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Animal Genetics Market: Competitive Analysis
The global animal genetics market comprises with the players such as Genus Plc, Topigs Norsvin, Envigo Corporation, CRV Holding B.V, Hendrix Genetics BV, Groupe Grimaud La Corbiere SA, Neogen Corporation, Alta Genetics Inc., Zoetis, Inc, and Animal Genetics, Inc.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the animal genetics.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.