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The global animal genetics market size was valued at USD 5.02 billion in 2022 and is expected to register a revenue CAGR of 7.1% during the forecast period.

NEW YORK, NY, UNITED STATES, April 20, 2023 /EINPresswire.com/ -- The Global Animal Genetics Market was valued at USD 5.02 billion in 2022 and is expected to experience a revenue CAGR of 7.1% during the forecast period. This growth is primarily driven by the increasing demand for animal protein products and a focus on animal health and welfare. The use of advanced breeding techniques by livestock farmers and advancements in genetic testing technologies are also driving revenue growth.

One of the main drivers of revenue growth in the animal genetics market is the rising demand for animal protein products such as meat, milk, and eggs. This increased demand is due to the growing global population and rising disposable incomes in emerging economies, which have led to an increase in the consumption of animal protein products. To meet this demand, genetically superior livestock breeds that can produce higher yields of meat, milk, and eggs are needed. Furthermore, the demand for organic and naturally produced animal protein products is also driving adoption of advanced breeding techniques.

The animal genetics market is experiencing revenue growth driven by a focus on animal health and welfare. With the increasing prevalence of diseases in livestock and the need to produce healthier animals, advanced genetic testing technologies have been developed. These technologies enable the identification of genetic traits associated with disease resistance, productivity, and other desirable traits, leading to the adoption of advanced breeding techniques such as genomic selection to produce healthier and genetically superior animals.

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Some major companies included in the global animal genetics market report are:

• Neogen Corporation
• Genus plc
• Hendrix Genetics BV
• Zoetis Inc.
• Topigs Norsvin
• Grimaud Frères
• Groupe Grimaud
• Semen Cardona S.L.
• Alta Genetics Inc.
• Alltech

The growth of the animal genetics market has also been driven by advancements in genetic testing technologies. These technologies enable the identification of genetic markers associated with specific traits, allowing farmers to selectively breed animals with desirable traits. This has led to the development of genetically superior breeds of livestock that can produce higher yields of meat, milk, and eggs. Furthermore, the increasing adoption of gene editing technologies is expected to further drive revenue growth of the animal genetics market.

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The adoption of advanced breeding techniques by livestock farmers is also driving growth in the animal genetics market. The use of techniques such as in vitro fertilization, embryo transfer, and cloning allows farmers to produce genetically superior animals with desirable traits. In addition, the increasing adoption of precision livestock farming techniques, such as sensors and monitoring systems, is expected to further drive revenue growth of the animal genetics market.

There have been several notable innovations in the animal genetics market in recent years. Here are a few examples:

1. Genomic selection: This technology uses genomic information to predict an animal's genetic potential for various traits, such as milk production, meat quality, and disease resistance. By selecting animals with the best genomic profiles, breeders can more effectively improve the overall quality of their herds.
2. CRISPR/Cas9 gene editing: This technology allows scientists to make precise modifications to an animal's genome, such as introducing beneficial mutations or removing harmful ones. This has the potential to improve animal health, productivity, and welfare.
3. Cloning: Although cloning has been around for several decades, recent advances in technology have made it more efficient and cost-effective. Cloning allows breeders to replicate animals with desirable traits, such as high milk production or superior meat quality, and create a more consistent product.
4. Artificial insemination: Artificial insemination has been used in the animal genetics industry for many years, but recent advances in technology have made it more effective and reliable. This technique allows breeders to introduce desirable traits into their herds without having to physically transport animals from one location to another.

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Overall, these and other innovations in animal genetics have the potential to greatly improve the efficiency, productivity, and sustainability of animal agriculture, while also promoting animal health and welfare.

By Product Type Outlook              

Live Animal
Genetic Material

By Testing Service Outlook         

DNA Typing
Genetic Trait Tests
Genetic Disease Tests

Regional scope

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Conclusively, all aspects of the Animal Genetics market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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