Animal Genetics Market Size Worth $5.5 billion by 2021 | CAGR: 8.4% Global Animal Genetics Market was worth USD 3.68 billion in 2016 and estimated to be growing at a CAGR of 8.4%, to reach USD 5.5 billion by 2021. Animal genetics is a branch of genetics that deals with the study of inheritance and genetic variation, primarily in domestic and wild animals. Animal genetics is based on general principles of heredity. It encompasses areas such as gene expression, animal breeding, and physical trait genetics such as coat colour. Animal genetics uses hybrid, population, cytological, mathematical-statistical, ontogenetic, and twin methods of general genetics. At the commercial level, animal genetics is used for services such as genetic trait testing, DNA typing, and genetic disease testing. The global animal genetics market is anticipated to witness healthy growth during the forecast period, owing to steep rise in the demand for and consumption of animal proteins and rapidly increasing urban population all over the world. In order to meet the rising global demand for animal products, producers are getting inclined toward animal genetics so as to breed high-quality livestock and secure large-scale production. Rapid increase in the number of animal diseases, rising trend of possessing companion animals, and high prevalence of zoonotic diseases have fuelled the demand for high-end diagnostic methods such as genetic testing. Moreover, increasing investments in research and development of novel drugs and vaccines by private and government bodies are projected to propel the animal genetics market in the near future. However, low returns on research and development (R&D), high cost of animal testing, stringent regulatory framework, and rising concerns about negative effects of using the animal genetic engineering on animals are some of the restraints for the global animal genetics market. Get a comprehensive overview of the Market: https://www.marketdataforecast.com/market- reports/animal-genetics-market-2864/ The Global market for Animal Genetics is broadly categorized into Animal genetics products and testing service. Animal genetics product is further segmented into live animals (Poultry, Porcine, Bovines and Canine) and Genetic material. Genetic material is further segmented into Embryos (Bovine and Equine) and Semen (Bovine, Porcine, Canine and Equine). The live animals segment accounted for the largest share of the market. The animal genetics market for live animals is primarily driven by the rising adoption of advanced genetic technologies for larger-scale production and quality breeds and growing awareness about veterinary genetic diseases and disorders. By testing service, it is further segmented into DNA typing, Genetic trait tests and Genetic disease tests. On the basis of geography, the market is analysed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. Europe is the largest regional segment of the global animal genetics market followed by North America. The major share of this region can be attributed to the growing demand of animalderived products, highly developed animal healthcare system, and presence of a large number of animal breeding and genetic testing companies in this region. However, the Asia-Pacific region represents the fastest-growing market for animal genetics, primarily due to the increasing population, rapid urbanization, increased demand of animal products, increased awareness towards animal welfare in developing countries, and adoption of advanced animal genetic testing services. Request for Sample Brochure: https://www.marketdataforecast.com/market-reports/animal- genetics-market-2864/request-sample Key players operating in the animal genetics market include Genus Plc, Hendrix Genetics BV, Alta Genetics, CRV Holding B.V., Neogen Corporation, VetGen, Animal Genetics Inc., and Zoetis. scope of the report provides: • • • • • • • • • • The evaluation of the current market for your product or services and the future implications of the market Addresses the opportunities by better understanding the market through size estimates and growth rate analysis to forecast the market for the future Extensive segmentation to understand the dynamics of market at a very granular level by splitting down the market to the smallest segment Addresses the key market dynamics involving the drivers, restraints and challenges with an aim of providing insights for gaining market share The factors responsible for the shaping of the industry as it is as a result of competitive environment is analyzed through Porter’s Five Forces The effects of political, economic, social, technological, legal and environmental factors on the industry is analyzed through PESTLE analysis to better understand the aspects of strategic management required to comply with the exogenous and endogenous factors Strategic evaluation of the key players to gain insights of their performance allowing access to their product portfolio, financial performance and the strengths of their business strategic developments Comparative study of the firms across the industry measuring their performances based on market share and recent activities in order to achieve competitive intelligence Equip you with the information providing with the investment opportunities in the industry Looking for more? 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