Animal Genetics Market to See 8.4% CAGR to 2021 Driven by Advanced Genetic Technologies

Jul 20, 2016, 12:45 ET from ReportsnReports

PUNE, India, July 20, 2016 /PRNewswire/ --

The worldwide animal genetics market is expected to reach $5.50 billion by 2021, growing at a CAGR of 8.4% from 2016 to 2021 led by the live animals segment driven by rising adoption of advanced genetic technologies for larger-scale production and quality breeds and growing awareness about veterinary genetic diseases and disorders.

Complete report on global animal genetics market spread across 205 pages, profiling 12 companies and supported with 189 tables and 36 figures is now available http://www.reportsnreports.com/reports/345781-animal-genetics-market-by-products-canine-equine-poultry-porcine-bovine-and-genetic-material-by-testing-services-dna-sexing-dna-typing-genetic-disease-test-and-others-global-forecast-to-2020.html .

The global animal genetics market growth can be attributed to a number of factors such as rising consumer demand for animal-derived protein, growing population and rapid urbanization across the globe, increased adoption of advanced genetic technologies for larger-scale production and quality breeds, growing focus on identifying superior breeds, and increasing disposable incomes in developing countries. However, dearth of skilled professionals in veterinary research and technicians for performing advanced genetic techniques is a major factor restraining the growth of this market.

Animal genetics provides advanced breeding technologies and testing services such as DNA typing, genetic trait tests, and genetic disease tests. In recent years, the animal genetics market has witnessed tremendous growth, mainly due to the rising demand of animal products owing to the increasing global population and rapid urbanization, adoption of advanced genetic technologies for larger-scale production and quality breeds, development of cutting-edge technologies in animal genetic testing, and growing awareness about veterinary genetic diseases and disorders.

The live animals segment accounted for the largest share of the animal genetics market in 2015. The animal genetics market for live animals is primarily driven by the rising adoption of advanced genetic technologies for larger-scale production and quality breeds and growing awareness about veterinary genetic diseases and disorders.

In 2015, Europe accounted for the largest share to the global animal genetics market, followed by North America, Asia-Pacific, and the RoW. Developed geographies like North America and Europe are likely to grow at lower CAGRs as compared to the Asia-Pacific market, which is expected to witness the fastest growth rate during the forecast period. Growth in the APAC market is largely driven by the rising demand of animal-derived products, increase in the population of livestock animals, and implementation of animal welfare acts.

Some of the major players in the global animal genetics market are Genus Plc (U.K.), Topigs (Netherlands), Envigo (U.S.), CRV Holding B.V. (Netherlands), Hendrix Genetics BV (Netherlands), Groupe Grimaud (France), Neogen Corporation (U.S.), Alta Genetics (Canada), VetGen (U.S.), Zoetis, Inc.(U.S.), and Animal Genetics, Inc. (U.S.). Order a copy of Animal Genetics Market by Type (Canine, Poultry, Porcine, Bovine), Genetic Material (Semen (Bovine Porcine Equine), Embryo (Bovine Equine)), Testing Services (DNA Testing, DNA Typing, Genetic Disease Testing) - Global Forecast to 2021 research report at http://www.reportsnreports.com/purchase.aspx?name=345781 .

The animal genetics market has been segmented by product, testing service, and region. On the basis of products, the market is segmented into live animals and genetic materials. The live animals segment is further categorized into canine, equine, poultry, porcine, bovine, and others; while, the genetic materials segment is categorized into semen and embryo. The animal genetics testing services market is segmented into genetic trait tests, DNA typing, genetic disease tests, and others.

On a related note, another research on Animal Growth Promoters & Performance Enhancers Market Global Forecast to 2020 says, the market is poised to reach USD 9.66 billion by 2020 from USD 7.56 billion in 2015, growing at a CAGR of 5% during the forecast period of 2015 to 2020. he antibiotic growth promoters segment is expected to account for the larger share of the market, by product. Asia-Pacific is expected to account for the largest share of the global market, followed by North America, Europe, and the Rest of the World (RoW). Companies like Cargill, Inc., Royal DSM N.V., Zoetis, Inc., AB Vista, Alltech, Inc., Elanco Animal Health, Bayer Animal Health, BIOMIN Holding GmbH, Boehringer Inghelheim, Bupo Animal Health, Chr. Hansen A/S, Danisco A/S, Merck Animal Health, Novus International, Inc. and Vetoquinol have been profiled in this 165 pages research report available at http://www.reportsnreports.com/reports/282230-animal-growth-promoters-and-performance-enhancers-market-by-segment-antibiotics-growth-hormones-feed-enzymes-organic-acids-probiotics-and-prebiotics-a-agonists-phytogenics-by-animals-porcine-poultry-aquaculture-global-forecasts-to-2018.html .

Explore more reports on the biotechnology market at http://www.reportsnreports.com/market-research/food-and-beverages/ .

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