Animal Genetics Market - By Animals (Canine, Porcine, Poultry, Bovine), By Service Type (DNA Typing, Genetic Trait Testing, Genetic Disease Tests), Regional Analysis, Competitive Landscape, Regulatory Landscape, Global Forecast (2023 - 2032)

Animal Genetics Market - By Animals (Canine, Porcine, Poultry, Bovine), By Service Type (DNA Typing, Genetic Trait Testing, Genetic Disease Tests), Regional Analysis, Competitive Landscape, Regulatory Landscape, Global Forecast (2023 - 2032)

Animal genetics market size is predicted to record 6% CAGR from 2023 to 2032 as there is a growing recognition of the importance of genetic testing in the livestock and pet industries. This awareness has led to a surge in demand for precise and reliable tests, enabling early diagnosis and treatment of various genetic conditions. For instance, in June 2023, Neogen Corporation launched a new and novel genomic test for beef-on-dairy calves, BeefXDairy. This test helps providers understand the main traits of the meat.

The market is also being driven by technological advancements, which have improved the accuracy and accessibility of genetic testing services. Farmers and breeders now have the tools and knowledge to select the best genetic traits for their animals, ultimately enhancing the quality and yield of livestock and pets.

The overall animal genetics market is divided based on animals, service type, and region.

The porcine segment is expected to witness 5.5% CAGR from 2023 to 2032 as genetic traits directly impact the efficiency and profitability of the swine industry. Genetic selection for traits such as meat quality, growth rate, and disease resistance is crucial for optimizing pork production. Advances in genetic breeding techniques are further enhancing the genetic potential of swine. With a rising global demand for pork, the porcine genetics segment is expected to continue growing.

The genetic disease testing segment is anticipated to observe 5.9% CAGR during 2023 and 2032 as it caters to the critical need for identifying and managing genetic disorders in animals. It includes testing services for a wide range of animals, from household pets to livestock. The precision and comprehensiveness of genetic disease tests have not only reduced the suffering of animals but have also led to significant economic benefits for farmers and pet owners. The emphasis on improving the health and wellbeing of animals worldwide will drive the segment growth as genetic testing becomes more accessible and affordable.

Europe animal genetics market size will observe around 5.9% CAGR between 2023-2032 owing to the region’s strong focus on sustainable agriculture and animal welfare. The European nations have been quick to adopt genetic testing services and technologies. As consumers become more conscious about the quality and origins of animal products, the demand for genetically superior livestock is on the rise. With a robust regulatory framework and a well-established livestock industry, Europe is set to remain a prominent regional player in the animal genetics market, presenting ample growth opportunities.