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Global Animal Genetics Market Size, Share, Trends, Growth, and Forecast

aanikhil | August 26, 2019 | 0 | Pharmaceutical and Healthcare

Animal Genetics Market 

Market Overview:

The animal growth promoters market is poised to register a CAGR of 8%, during the forecast period of 2018 – 2023. Growth in the general animal growth promoters industry can contribute to increasing worldwide demand for meat, the need for promoting non-antibiotic growth, increasing animal epidemic outbreaks, and low-cost meat demand. However, increasing consumer knowledge of the risks associated with the use of antibiotic growth promoters and the ban on the use of antibiotic growth promoters in some European nations, such as the UK, Sweden and Denmark, are probable to hamper market growth.

Rising focus on higher breed identification:

The animals that best adapt to the circumstances in which they must be kept can be chosen as relatives for subsequent generations through strategic reproduction. Over generations, the population will be stronger, more robust and in farmed circumstances have enhanced general efficiency. The goal of animal genetics is to create the most desirable features of humans. A genetically modified cow may be able to generate more milk and may be less susceptible to prevalent cattle illnesses, such as complicated bovine respiratory disease, closed tridial disease, etc., thus efficiently improving general livestock raisers profit. This prospect of animal genetics has been commonly acknowledged and will result in the animal genetics market’s general development. Other variables affecting market growth include enhanced consumer demand for animal-derived protein, enhanced worldwide population, and fast urbanization, enhanced disposable incomes in developing nations, and enhanced implementation of sophisticated genetic technologies for large-scale production and quality breeds.

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The shortage of qualified veterinary professionals:

It is well documented that the amount of veterinarians in the U.S. is insufficient in biomedical research and other significant animal health areas to satisfy societal requirements. Animal genetics, veterinary pathology, laboratory animal medicine, developing and infectious diseases, public health, academic medicine, and many of the veterinary clinical specialties are the fields with the biggest demand. This absence of veterinary study experts will result in costly labor and hence discourage big organisations from engaging in animal genetic projects. This in turn will result in a slowdown in the animal genetics market’s development.

Europe to Dominate the Animal Genetics Market:

Europe is presently the biggest national market, followed by the Asia-Pacific and North America. Asia-Pacific, however, is the fastest growing area on the animal genetics market, mainly due to growing population, fast urbanization, and rising demand for animal goods in this area. Increasing awareness of animal welfare in developing nations and developing state-of – the-art animal genetic testing techniques are further driving the growth of the market in this region.

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Key Trends in the Animal Genetics Market:

In March, 2018:

The FDA released for public comment draft revised Guidance for Industry GFI #187, “Regulation of Intentionally Altered Genomic DNA in Animals”

Animal Genetics Market Major Players:

• Alta Genetics Inc.

• Animal Genetics Inc.

• CRV Holding B.V.

• Envigo Harlan Laboratories, Inc. .

• EW Group GmbH.

• Genus PLC.

• Grimaud Groupe.

• Hendrix Genetics.

• Neogen Corporation.

• Vetgen.

• and Zoetis, Inc.

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