Global Animal Genetics Market Overview:
With the rapid technological advancement, there is an adoption of advanced genetic technologies and rise in the implementation of animal welfare, these factors are driving the Global Animal Genetics Market. Animal genetics is a branch of genetics which deals with the study of inheritance and genetic variation, used in domestic and wild animals. It is based on general principles of heredity and encompasses in areas such as Gene expression, Animal breeding, and physical Characteristics genetics such as coat and color. Animal genetics is used for various services such as Genetic trait testing, DNA typing, and Genetic disease testing at a commercial level. The increasing awareness about veterinary genetic diseases and the rising population of livestock animals to meet the unmet demands for animal derived proteins are also boosting the animal Genetics market. The aim of animal genetics concept is to produce animals with the most desirable traits. Eg. A genetically modified cow might be able to produce more milk and can be less susceptible to common cattle diseases, such as bovine respiratory disease complex, clostridia disease, etc.
- Increasing Consumption for Animal Deprived protein
- Rising population and Rapid urbanization globally
- Increasing adoption of genetic services and genetic technologies
- The growing focus on identifying super breeds.
- Use of Artificial Intelligence in animal breeding
- Increasing Demand for meat and milk globally
- Rising need to produce high yielding cattle to cater the global demand.
- Shortage of skilled professionals like technical staffs in the veterinary field.
- Increasing adoption of Genetic services to prevent Genetic disease and advancement in genetic technologies.
- High Cost and strict regulation by the Government related to animal genetic engineering.
The market is fragmented by top key players who are involved in Collaborations, partnerships and agreements, and acquisitions are the major growth strategies adopted by these players to strengthen their position in the market. Such as, In July 2018, Hy-Line International inaugurated one of the world’s largest layer hatchery opened by its distributor, Huayu Agricultural Technology Co., Ltd. and named the Huayu International Poultry Incubation Center.
Some of the key players profiled in the report are Neogen Corp. (United States), Genus plc (United Kingdom), URUS (United States), EW Group (Germany), Novogen (France), CRV Holdings (Netherlands), Topigs Norsvin (Netherlands), Zoetis (United States) and Envigo (United States). Additionally, following companies can also be profiled that are part of our coverage like Hendrix Genetics (Netherlands), Animal Genetics Inc,. (United States), vetGen (United States) and Huayu Agricultural Technology Co., Limited (China). Analyst at AdvanceMarketAnalytics see United States Players to retain maximum share of Global Animal Genetics market by 2024. Considering Market by Genetic Testing, the sub-segment i.e. DNA Testing will boost the Animal Genetics market. Considering Market by Breed, the sub-segment i.e. Poultry will boost the Animal Genetics market. Considering Market by Genetic Material, the sub-segment i.e. Semen (Bovine, Porcine) will boost the Animal Genetics market.
On September 2018, Neogen acquires Livestock genetic services that are specialized in genetic evaluations and data management for cattle breeding organizations.
On March 2018, the FDA released for public comment draft Revised Guidance for Industry (GFI), “Regulation of Intentionally Altered Genomic DNA in Animals”. In the Strategy, the FDA noted its intent to clarify how developers of animals produced using emerging technologies, including genome editing, may meet applicable statutory and regulatory requirements.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Animal Genetics market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Animal Genetics market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Research Organizations, Veterinarians, Animal Laboratories, Manufacturers, Government and Regulatory bodies, Milk and meat producers, Venture Capitalists and Investors and Animal Genetic Companies.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.