PUBLISHER: Grand View Research | PRODUCT CODE: 1493182
PUBLISHER: Grand View Research | PRODUCT CODE: 1493182
The global animal genetics market size is expected to reach USD 9.28 billion by 2030, registering a CAGR of 6.37% over the forecast period, according to a new report by Grand View Research, Inc. The primary drivers for market growth include increased animal protein preferences, rapid urbanization, and the widespread adoption of different genetic products and services. Furthermore, the increasing acceptance of innovative genetic techniques like embryo transfer and artificial insemination (AI) for the large-scale production of modified breeds is probably going to promote market growth. Animal genetics focuses on inheritance and genetic differences in both wild and farm animals. This technology is applied to the commercial sector for services including DNA typing, genetic trait testing, and genetic illness diagnostics.
Increased utilization of advanced genetic technologies, as well as innovations in reproduction, drives the animal genetics industry's growth. According to an article published by CABI Agricultural and Bioscience, in March 2022, genetic improvement of cattle across the world has been and will continue to be a significant driver of animal sustainable development in agriculture. Cattle genetic improvement utilizes a variety of reproductive and molecular biotechnologies, and their combined effects work best to maximize the pace of genetic advancement when implemented in a well-organized breeding program with a specific breeding goal. One of the most recently developed methods for genetic enhancement is genome or gene editing (GnEd). Animal breeders can accurately target the insertion, deletion, or substitution of base pairs in the genetic code to impact desired traits with the help of advanced biotechnology.
Pig farming has become more technologically advanced, with progressive farmers using identical production techniques all around the world. Producers usually purchase breeding pigs and semen from specialized genetic improvement businesses or captive breeding programs in order to populate their farms. They then periodically obtain semen in order to take advantage of the most recent and effective genetics. The usage of sexing technology has increased significantly, allowing farmers to generate herd replacements from their best cows with fewer breeding attempts, considering an estimated 90% likelihood of a female. Other animals in the herd are being increasingly bred with cattle sperm to generate high-quality cross-bred beef calves. Between 2016 and 2023, the share of sexed and beef genetics that ABS-a global bovine genetics business-sold to the U.S. dairies increased from 16% to 78%.
The market for animal genetics is growing as the prevalence of genetic illnesses in companion animals increases. Certain pet breeds have shorter life expectancies and are more likely to inherit hereditary disorders. Consequently, the relevant risk of genetic diseases in purebred, mixed-bred, and hybrid pets can be identified by performing a complete genetic characteristic profile. Individual genetic DNA testing is often carried out to determine the specific medical condition in consideration when the breed mix of a certain pet is already known to be susceptible to a particular disease. The major players are also investing in the production of new livestock, collaborations, mergers and acquisitions, and geographical expansions to boost revenue share, which leads to market growth. For example, in November 2023, SEMEX declared the addition of Semex Brazil, its specialized artificial intelligence center Tairana, and the renowned Brazilian embryo facility Cenatte to the global subsidiary network.