PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1462620
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1462620
According to Stratistics MRC, the Global Animal Genetics Market is accounted for $7.15 billion in 2023 and is expected to reach $12.58 billion by 2030 growing at a CAGR of 8.41% during the forecast period. Animal genetics is a field of science that explores the genetic makeup and inheritance patterns of animals. It delves into how traits, behaviors, and diseases are passed down through generations within species. Through studying DNA, genes, and chromosomes, animal geneticists seek to understand the mechanisms underlying various characteristics, including physical attributes, physiological functions, and even complex behaviors. This knowledge is crucial in animal breeding programs aimed at enhancing desirable traits in livestock, pets, and endangered species conservation efforts.
According to the United States Department of Agriculture's (USDA), cattle stocks in the United States are 91,800 thousand in 2021 and 93,595 thousand in 2020. According to statistics by the Food and Agriculture Organization Corporate Statistical Database (FAOSTAT), India's milk production increased to 209.96 million tons (MT) during 2020-21 against 198.44 MT in 2019-20, and India accounted for 21% of the global milk production output.
Focus on disease resistance and health traits
The focus on disease resistance and health traits is a pivotal driver in the animal genetics market due to its significant impact on livestock productivity and sustainability. Breeders prioritize genetic selection for traits that enhance animals' ability to resist diseases, reducing the need for antibiotics and veterinary interventions. This approach not only improves animal welfare but also safeguards human health by reducing the risk of antibiotic resistance and the potential transmission of zoonotic diseases. Moreover, disease-resistant breeds typically exhibit better growth rates and reproductive performance, leading to higher profitability for farmers and more efficient utilization of resources.
Limited adoption in certain regions
Limited adoption in certain regions is a significant restraint for the animal genetics market. Factors such as inadequate infrastructure, a lack of awareness about advanced genetic technologies, and cultural preferences towards traditional breeding methods hinder the widespread uptake of animal genetic products and services. These limitations restrict market penetration and inhibit the realization of the full potential of animal genetics in enhancing livestock productivity and quality. Bridging these gaps through targeted educational initiatives, infrastructure development, and regulatory reforms is essential for overcoming this restraint.
Conservation and wildlife management
The animal genetics market offers significant opportunities for conservation and wildlife management by providing tools and technologies to understand and preserve genetic diversity in endangered species. Through genetic analysis, scientists can identify unique genetic traits, track populations, and develop targeted conservation strategies. Additionally, advances in animal genetics enable the breeding of healthier, more resilient populations, which is essential for maintaining ecosystem balance. This market facilitates the exchange of genetic material across borders, fostering collaboration among conservationists globally. Moreover, genetic technologies aid in combating the illegal wildlife trade by enabling the authentication of species and products.
Disease outbreaks
Disease outbreaks pose a significant threat due to their potential to devastate livestock populations. Infectious diseases can spread rapidly among animals, leading to decreased production efficiency, economic losses, and even the loss of entire herds. In such situations, demand for genetic solutions, such as disease-resistant breeds or improved disease detection methods, intensifies. However, outbreaks can disrupt breeding programs, genetic research, and supply chains, hampering the ability of market players to meet demand. Additionally, concerns over food safety and public health during outbreaks may impact consumer confidence and regulatory measures.
The COVID-19 pandemic has significantly impacted the animal genetics market. While the demand for genetic technologies and services remained stable, disruptions in the global supply chain and logistical challenges have hindered the availability and delivery of genetic materials, such as semen and embryos. Additionally, economic uncertainties and reduced budgets in the agricultural sector have led to a cautious approach to investment in genetic improvement programs. However, there has been an increased emphasis on food security and sustainability, driving interest in genetic solutions for disease resistance and productivity.
The DNA typing segment is expected to be the largest during the forecast period
DNA typing, also known as DNA profiling or genetic fingerprinting, has experienced significant growth in the animal genetics market. This growth can be attributed to its increasing applications in animal breeding, parentage verification, disease resistance assessment, and conservation genetics. DNA typing enables the precise identification of individual animals, facilitating better breeding programs and genetic management strategies. With advancements in technology, such as next-generation sequencing and SNP genotyping, DNA typing has become more cost-effective and accessible, further driving its adoption in the animal genetics industry.
The veterinary hospitals & clinics segment is expected to have the highest CAGR during the forecast period
The Veterinary Hospitals & Clinics segment has experienced notable growth due to increasing awareness among pet owners about genetic diseases and the importance of genetic testing. Advancements in technology have made genetic testing more accessible and affordable, driving its adoption in veterinary hospitals and clinics. Moreover, the growing prevalence of genetic disorders in animals has necessitated the expansion of genetic services in these facilities. Furthermore, collaborations between genetic testing companies and veterinary professionals have facilitated the integration of genetic testing into routine veterinary care.
North American region has witnessed significant growth in the animal genetics market. This expansion can be attributed to several factors, including increased demand for improved livestock production efficiency, rising awareness about the benefits of genetic selection in animal breeding, and advancements in biotechnology. The region's robust infrastructure, supportive regulatory frameworks, and strong emphasis on research and development have further propelled market growth. Additionally, the adoption of genomic technologies and precision breeding techniques has spurred innovation, leading to the development of superior animal breeds with desirable traits.
The Asia-Pacific region has experienced substantial growth in the animal genetics market due to rising demand for high-quality animal products, such as meat, milk, and eggs, coupled with increasing awareness about the benefits of genetic selection and breeding programs. Advancements in biotechnology and genetic engineering have facilitated the development of innovative genetic solutions for livestock improvement. Favourable government initiatives and investments in the animal husbandry and agriculture sectors have further stimulated market growth in the region. Additionally, the increasing adoption of advanced genetic technologies by farmers and livestock producers to enhance productivity and profitability has also contributed to the burgeoning animal genetics market in Asia and the Pacific.
Key players in the market
Some of the key players in Animal Genetics market include Alta Genetics Inc., Animal Genetics Inc., CRV Holding, Envigo, Genus PLC, Groupe Grimaud , Hendrix Genetics BV, Neogen Corporation, Sandor Animal Biogenics Pvt. Ltd, Topigs Norsvin Holding BV, Tropical Bovine Genetics, URUS and Zoetis Services LLC.
In December 2023, Neogen Ionics Ltd, a subsidiary of Neogen Chemicals Ltd, announced on that the company has acquired a 65-acre land parcel in Pakhajan, Dahej, Gujarat. The acquired land will be used for setting up a battery materials manufacturing plant and for future business opportunities. In the first phase of development, the company will set up an electrolyte plant on the greenfield site. It is anticipated to generate 30,000 MT of electrolytes and 4000 MT of electrolyte salts & additives.
In October 2023, Ag biotech startup Tropic Bovine Genetics and Corteva Agriscience are partnering to develop stronger disease resistance traits in corn and soybeans. The two will use Tropic's Gene editing-induced Gene Silencing (GEiGS) technology to build non-transgenic resistance traits that can combat a range of diseases and pathogens in the crops.