Growth of Animal Genetics Market with leading key players like Neogen Corporation, Genus, URUS, EW Group

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Global Animal Genetics Market is projected to reach US$ 5.8 Billion by 2023 from US$ 4.2 Billion in 2018, at a CAGR of 6.5 % during the forecast period.
Factors such as rising consumption for animal-derived protein, growing population and rapid urbanization across the globe, increased adoption of genetic services and advanced genetic technologies for larger-scale production and quality breeds, and growing focus on identifying superior breeds are likely to boost the growth of the market.

Top Companies profiled in the Animal Genetics Market include:
Neogen Corporation (US)
Genus (UK)
URUS (US)
EW Group (Germany)
Groupe Grimaud (France)
CRV Holding (Netherlands)
Topigs Norsvin (Netherlands)
Zoetis (US)
Envigo (US)
Hendrix Genetics (Netherlands)
Animal Genetics (US)
vetGen (US)

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“By Product & service, animal genetics products market is expected to hold the largest market share in 2018”
The Animal genetics products segment is expected to dominate the animal genetics market during the forecast period. This is primarily attributed to the high global demand for live animals generated by farmers and animal breeders, as well as the animal food industry, and the high adoption of genetic materials by breeders to carry out large- scale artificial insemination and embryo transfer practices. This is primarily triggered by the growing global demand for animal protein, growing population and rapid urbanization in the emerging countries.

“By Services, the genetic disease tests market is expected to hold the largest share in 2018”
The Genetic disease tests segment is expected to dominate the animal genetics market. This can be attributed to the increasing adoption of these tests by animal breeders and owners to prevent economic losses and loss of productivity caused due to the incidence of the genetic diseases in animals. Genetically inherited infectious diseases in farm animals are a major concern because of the production costs and the possible consequences to public health.

“North America is expected to hold the largest share during the forecast period (2018–2023)”
North America is expected to dominate the animal genetics market during the forecast period. This is attributed to the better accessibility to advanced genomic technologies and well-established distribution channels across the region. Besides, the presence of prominent livestock sector, and a number of leading players in this region, along with the growing demand for animal food products is also expected to propel the growth in this region.

Report Highlights:
• To forecast the market size of North America, Europe, Asia, and the Rest of the World

• To define, describe, and forecast the animal genetics market by product & service and region

• To provide detailed information regarding the major factors influencing market growth (drivers, restraints, opportunities, challenges, and industry trends)

• To strategically analyze various segments and subsegments covered in the study with respect to individual growth trends, prospects, and contributions to the overall market

• To track and analyze competitive developments such as joint ventures, mergers and acquisitions, new product developments, agreements, and partnerships in the animal genetics market

• To analyze market opportunities in the animal genetics market for stakeholders and provide details of the competitive landscape for key players

• To profile the key players in this market and comprehensively analyze their market shares and core competencies

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This release was published on openPR.