LONDON, July 15, 2015 /PRNewswire/ -- Animal genetics provide advance breeding technology and testing services such as DNA typing, genetic trait tests, and genetic disease tests. In recent years, animal genetics market witnessed tremendous growth which is mainly attributed to rising demand of animal products due to 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 animal genetics market is segmented by products, testing services, and by geography. Based on type of product, the market is mainly segmented into live animals and genetic materials. The live animal segment is further subsegmented into canine, equine, poultry, porcine, bovine, and others, whereas, the genetic material is subsegmented into semen and embryo. Animal genetics testing services market is further segmented into various testing services such as DNA sexing, DNA typing, genetic disease tests, and others in the report.
Live animal segment accounted for the major share of the animal genetics market in 2014. The animal genetics market for live animal is primarily driven by the rising adoption of advanced genetic technologies for larger-scale production and quality breeds. In addition, growing awareness about veterinary genetic diseases and disorders further drives the market for live animals across the globe.
In 2014, North America contributed the largest share to the global animal genetics market, followed by Europe, Asia-Pacific, and RoW. Developed geographies like North America and Europe are likely to grow at a lower CAGRs as compared to the Asia-Pacific market, which is expected to witness the fastest growth during the forecast period, largely driven by the rising demand of animal derived products, increase in the population of livestock animals, and implementation of animal welfare acts.
The major players in the animal genetics market are Animal Genetics, Inc. (U.S.), Genus Plc (U.k.), Topigs (Netherlands), Harlan Laboratories, Inc. (U.S.), Hendrix Genetics BV (Netherlands), Aviagen Group (U.S.), Neogen Corporation (U.S.), Alta Genetics (Canada), VetGen (U.S.), and Zoetis, Inc.(U.S.), among others.
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This report provides insights on the following pointers:
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