Global Animal Genetics Market - Size & Forecast To 2032

GLOBAL ANIMAL GENETICS MARKET - SIZE & FORECAST TO 2032

The global animal genetics market is estimated to be worth of USD 8.53 Billion in 2023 and is growing at a CAGR of 5.8% during the forecast period from 2023 to 2032. The animal genetics market has seen consistent growth in demand over the years. There is a larger need for enhanced genetics in livestock due to the rising demand for dairy products, meat, and other goods obtained from animals. The demand for animal genetics services has also increased as farmers and breeders become more aware of the potential advantages of genetic selection and cutting-edge breeding techniques. Additionally, the discovery of genome editing technologies like CRISPR-Cas9 has created new prospects in the animal genetics business by enabling the creation of animals with desirable features like disease resistance, enhanced production, and better meat quality. The need for animal genetics services and goods has grown as a result. The market for animal genetics is anticipated to expand during the next years as a result of rising demand for products derived from animals and expanding use of cutting-edge breeding techniques.

Animal Genetics market is segmented into species type, genetic material, and genetic testing services.

Based on species type, the market is segmented into bovine, porcine, poultry, canine, piscine, other (horses, pigeon).

Among these, the live animals such as bovine, porcine, poultry is expected to held a significant share in the market. This can be ascribed to the high demand for poultry meat and eggs in rich countries and the concurrent rise in demand in emerging countries as a result of these regions' expanding populations and quick urbanisation. Over the forecast period, poultry held the greatest market share in the live animal segment. The robust demand for chicken and eggs in developed nations is what propels the poultry market. The increased worldwide demand for chicken is also being fueled by population growth and fast urbanisation in developing nations.

Based on genetic material, the market is bifurcated into semen and embryo.

Among these, the semen segment is anticipated to held a notable share in the market owing to the increasing consumer demand for increased animal productivity and efficiency, need for animal protein, supportive industry stakeholder activities, the need for sustainable food production, and the use of sexed semen in developing market. Also, as farming practises and farmer demands change, many animal species are no longer appropriate for the majority of farms. With these breeds, artificial insemination is the favoured technique of reproduction because it allows for on-site breeding to continue. The adoption of AI is expected to rise in the next years due to benefits including improved bull utilisation efficiency, genetic selection, cheaper housing, easier bull handling, and safety for farmers and animals.

Based on genetic testing services, the market is segmented into genetic disease tests, genetic trait tests, DNA typing, and other services.

Among these the genetic disease tests segment is expected to grasp a notable share in the market owing to the increasing demand to boost livestock animals' productivity and avert the incidence of genetic illnesses is what is fueling the segment's rise. Furthermore, breeders incur a significant financial loss as a result of hereditary illnesses. Breeders are using genetic testing services as a result to stop the spread of these diseases. Additionally, genetic disease testing can also help identify carriers of genetic diseases, which are animals that carry the disease-causing mutation but do not show any symptoms of the disease. Identifying carriers is important as they can still pass on the disease to their offspring, even if they do not show any signs of the disease themselves. By identifying carriers, breeders and farmers can make informed breeding decisions to avoid the production of offspring with the disease-causing mutation. Moreover, genetic disease testing can also help improve animal welfare by identifying animals that are at risk of developing certain diseases. By identifying these animals early, breeders and farmers can take preventive measures to reduce the risk of disease development and provide appropriate care and treatment if needed.

Based on region, the animal genetics market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

The North American market is expected to hold a significant share of this market due to several factors. First, the United States has a large number of animals with genetic abnormalities, which creates a demand for genetic testing, screening, and counseling services. Second, there are important companies in the region that are involved in animal genetics research and development, which helps to drive innovation and growth in the market.

In addition, the animal genetics market in North America is expected to grow due to ongoing research and development efforts focused on improving breeding procedures. This includes the development of new technologies and techniques for breeding animals that are more robust, healthy, and efficient in utilizing nutrients for growth and reproduction. As a result, there is likely to be a growing demand for genetic testing, screening, and counseling services in the region, which will contribute to the growth of the market over the projected period..

The European region is expected to hold a significant share of the global animal genetics market over the forecast period. One of the key drivers of this growth is the rising incidence of disease resistance in animals, particularly in the poultry and pig sectors. With the increasing prevalence of diseases in these animals, there is a growing demand for high-quality breeds that are resistant to these diseases. To meet this demand, farmers and breeders in the European region are turning to advanced biotechnology techniques to develop new and improved animal breeds. These techniques include genetic testing and selection, gene editing, and cloning, among others. These technologies help breeders identify and select animals with desirable traits, such as disease resistance, which can be passed on to future generations. Furthermore, there is a growing demand for high-quality animal products in the European region, such as meat, dairy, and eggs. To meet this demand, farmers and breeders are seeking ways to improve the productivity and efficiency of their animals. Advanced genetic technologies can help achieve these goals by producing animals that are more productive, healthier, and more resistant to diseases. In addition, the European region has a long history of animal breeding and genetics research. This has led to the development of several well-established animal genetics companies in the region, which are leaders in the field of animal breeding and genetics. These companies have extensive knowledge and experience in developing and producing high-quality animal breeds that are in high demand worldwide.

Asia Pacific region is expected to experience the fastest growth over the forecast period. This growth can be attributed to several factors, including an increase in public awareness about animal health in the region. As more people become aware of the importance of animal health, the demand for high-quality animal genetics products and services is expected to rise. In addition, the Asia Pacific region has a large animal population, including livestock, companion animals, and aquaculture species. This large population creates a significant market for animal genetics products and services. Moreover, the region's growing spending on animal healthcare is expected to boost the animal genetics industry's expansion in the region. As people invest more in the health and well-being of their animals, the demand for advanced genetic testing and breeding technologies is anticipated to increase. The Asia Pacific region is home to some of the fastest-growing economies in the world, including China and India. These countries have a rapidly growing middle class, which is driving the demand for high-quality animal products, such as meat, milk, and eggs. To meet this demand, farmers and breeders in the region are increasingly turning to advanced genetic technologies to improve the productivity and health of their animals. This trend is expected to continue, further fueling the growth of the animal genetics market in the Asia Pacific region.