LONDON–(BUSINESS WIRE)–The animal genetics market size is expected to grow by USD 1.79 billion during 2020-2024, according to the latest market research report by Technavio, progressing at a CAGR of close to 7% during the forecast period. The growth can be attributed to the growing consumption of animal-derived food products. Furthermore, increasing focus on research and development in animal genomics, and increasing demand for genetic testing services to reduce livestock diseases will also drive the animal genetics market during the forecast period. Request a free sample report
Read the 151-page report with TOC on “Animal Genetics Market, by Solution (live animal, genetic testing services, and genetic materials), by Geography (Asia, Europe, North America, and ROW) and Segment Forecasts, 2020-2024”.
Animal Genetics Solution Outlook (Revenue, USD Million, 2020-2024)
- Live animal
- Genetic testing services
- Genetic materials
The live animal segment held a significant share of the animal genetics market in 2019. The live animal segment includes genetically selected bovine, porcine, poultry, canine, reptiles, and felines. The development of a DNA library to perform a genetic selection of different animal species and the increasing export of live animals are further expected to drive the growth of this segment during the forecast period.
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Animal Genetics Regional Outlook (Revenue, USD Million, 2020-2024)
- North America
The North American region led the market in 2019, followed by Europe, Asia, and ROW, respectively. The growth of the animal genetics market share in North America can be attributed to factors such as the increasing adoption of sustainable livestock management practices resulting from growing support from governments in the region to promote such practices.
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Major Five Animal Genetics Companies:
Animal Genetics Inc.
Animal Genetics Inc. is headquartered in the US and operates the business under various product segments such as Avian, Canine, Equine, and Other. The company offers products such as Avian DNA Sexing and A-Locus.
AquaGen AS is headquartered in Norway and offers products through the following product segments: Salmon eggs and Rainbow trout eggs. The company offers products such as AquaGen Atlantic TRACK and AquaGen Rainbow ALL FEMALE.
Aviagen Group is headquartered in the US and has business operations under various product segments, namely Ross, Rowan Range, and Specialty Males. The company offers products such as Ross 308 and Ranger Premium.
Coöperatie Koninklijke CRV u.a.
Coöperatie Koninklijke CRV u.a. is headquartered in the Netherlands and offers products through the following product segments: Breeding, Management, and Fertility. The company offers products such as Holstein and InSire.
Genetic Veterinary Sciences Inc.
Genetic Veterinary Sciences Inc. is headquartered in the US and offers products through the business segment, Genetic test services. The company offers products such as the Australian Labradoodle Essential Panel and Chow Chow Panel.
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