Animal Genetic Market Trends and Overview

The Animal Genetic Market was estimated to be worth USD 7 billion in 2022. It is projected to reach a value of USD 12.2 billion by 2030, with an anticipated compound annual growth rate (CAGR) of 7.3% during the forecast period of 2023-2030.

The Animal Genetic Market has witnessed significant growth and is expected to continue its upward trajectory in the coming years. This market encompasses various genetic technologies and services that are utilized to enhance the breeding and production of animals. These technologies include genetic testing, DNA sequencing, and gene editing, among others.

The increasing demand for high-quality animal products, such as meat, milk, and eggs, is one of the key factors driving the growth of the Animal Genetic Market. Consumers are becoming more conscious about the quality and safety of the food they consume, leading to a greater emphasis on genetic improvement in animal breeding. Additionally, the rising global population and the subsequent need for increased food production are further propelling the market growth.

Furthermore, advancements in genetic research and technology have revolutionized the animal breeding industry. Genetic testing and DNA sequencing have enabled breeders to identify desirable traits in animals and selectively breed them to enhance productivity and disease resistance. Moreover, the emergence of gene editing techniques, such as CRISPR-Cas9, has opened up new possibilities for precise genetic modifications in animals, further driving the market growth.

Geographically, North America currently holds the largest share in the Animal Genetic Market, owing to the presence of well-established animal breeding companies and a high demand for superior animal products. However, the Asia-Pacific region is expected to witness the highest growth rate during the forecast period. Factors such as increasing disposable income, changing dietary preferences, and a growing focus on livestock production are contributing to the market expansion in this region.

In conclusion, the Animal Genetic Market is experiencing substantial growth and is expected to continue its upward trajectory in the coming years. The increasing demand for high-quality animal products, coupled with advancements in genetic technologies, is driving the adoption of animal genetic solutions and fueling the market's growth. with advancements in genetic technologies, is driving the adoption of animal genetic solutions and fueling the market's growth. with advancements in genetic technologies, is driving the adoption of animal genetic solutions and fueling the market's growth.

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KEY MARKET SEGMENTATION:

By Live Animals

• Porcine
• Bovine
• Poultry
• Canine
• Others

By Genetic Material

• Embryo
• Semen

By Services

• Genetic Trait Test
• Genetic Diseases Test
• DNA Typing

Major Players Listed in the Report are as Follows:

Genus Plc, Envigo Corporation, Topigs Norsvin, CRV Holding B.V, Groupe Grimaud La Corbiere SA, Hendrix Genetics BV, Neogen Corporation, Zoetis, Inc; URUS and Animal Genetics, Inc. and others.

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