Market Research Report
Animal genetics is a part of genetics which includes the study of inheritance and genetic variation in domestic and wild animals. Moreover, it includes study of gene expression, physical genetic traits and animal breeding. It is mostly used for DNA testing, genetic trait testing, and genetic disease traiting. Hybrid, population, cytological, mathematical-statistical, ontogenetic, and twin methods are the different methods used in animal genetics.
The global animal genetics market is estimated and forecasted in terms of revenue (USD million) generated by the animal genetics market. The animal genetics market has gained sustainable growth owing to rising demand for animal derived protein, increasing population which leads to increasing demand for food and rapid urbanisation. Moreover, increasing focus on identification of superior breeds coupled with increasing investments in research and development of novel drugs and vaccines by private and government bodies robust the growth of the market. However, lack of skilled professionals in the field of veterinary research and high cost associated with the research are the major factors restraining the growth of the animal genetics market.
The report analyses the global animal genetics market by product & service and geography. Based on product and services the animal genetics market is segmented into, animal genetics products and animal genetics testing services, the animal genetics products segment is divided into, live species and genetic samples. The live species segment is further sub segmented into, avian and poultry, porcine, bovine, canine and other. Other includes goat, sheep, and horse. Likewise, the genetic sample is further bifurcated into, semen and embryo. Moreover, the animal genetic testing services segment is divided into, DNA Typing, genetic trait tests, genetic disease tests and others services. The live species segment accounted for the largest share of the market owing to rising demand for animal driven products globally, significant shift towards advanced genetic technologies and rising perseverance toward genetic diseases and disorders.
By geography, the global animal genetics market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and Middle East & Africa. In 2017, Europe dominated the global animal genetics market is expected to be the fastest-growing region during the prediction period. Europe is thus followed by Asia Pacific. Factors such as rising economic growth, increasing population, highest consumption rate and increased demand of animal products in this region is fuelling the growth of animal genetics market in European region.
Some of the key participants of the global animal genetics market are Alta Genetics Inc, Animal Genetics Inc, CRV Holding B.V, Envigo, Genus PLC, Groupe Grimaud, Hendrix Genetics, Neogen, Zoetis, Inc., VetGen, etc. Furthermore, strategies such as expansions, as well as partnerships and agreements were also implemented by numerous market players to expand their R&D competences and geographic presence in the global market.
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