Animal Genetics Market

1. “Meticulous Research® Projects Animal Genetics Market $9.12 Billion by 2031” pen_spark” J

2. Animal Genetics Market 2024-2031 The Rising Tide of Animal Genetics: Market Insights and Future Prospects As agriculture increasingly embraces scientific advancements, the animal genetics market has emerged as a pivotal segment of the global economy. A recent report from Meticulous Research®, a renowned global market research firm, reveals that the animal genetics market is anticipated to reach $9.12 billion by 2031, with a compound annual growth rate (CAGR) of 5.8% during the forecast period. This substantial growth underscores the transformation of traditional breeding practices into a more precise science, promising enhanced animal health and productivity. Download FREE Brochure of Animal Genetics Market :- https://www.meticulousresearch.com/download-sample- report/cp_id=5863?utm_source=article&utm_medium=social&utm_campai gn=product&utm_content=03-10-2024 The Evolution of Crossbreeding Crossbreeding has long been a cornerstone of livestock management, where animals from different breeds are mated to combine desirable traits and develop improved varieties. Traditionally, this process relied heavily on observable physical characteristics without the benefit of genetic insights. However, recent advancements in genetic testing have catalyzed a shift towards more informed breeding decisions. By generating data on genetic profiles and trait-associated genes, animal breeders can make strategic choices that yield superior generations characterized by improved meat and milk production and enhanced disease resistance. Market Drivers Precision Breeding Techniques The increasing demand for precision breeding techniques is at the forefront of the animal genetics market’s growth. As farmers and pet owners become more aware of the benefits of genetic testing, the adoption of these techniques has gained momentum. Genetic testing allows for a deeper understanding of an animal’s potential, helping to identify desirable traits and mitigate the risks associated with hereditary diseases. Awareness and Adoption of Genetic Testing Page 1 of 6 © Meticulous Research| sales@meticulousresearch.com

3. Animal Genetics Market 2024-2031 Awareness among farmers and pet owners regarding the significance of genetic testing for infectious diseases is rising. This understanding leads to better management of livestock health, ensuring the production of disease-resistant animals that can thrive in diverse environments. Government Initiatives and Funding Government initiatives and funding support aimed at enhancing animal genetic research and development are further bolstering market growth. Many countries recognize the importance of genetic research in improving livestock productivity and food security. Consequently, various programs are being established to support these research endeavors. Prevalence of Genetic Diseases The rising prevalence of genetic diseases among animals has prompted an urgent need for genetic testing. These diseases not only affect animal health but also pose risks to public health through zoonotic transmissions. Addressing these challenges through early detection and management is crucial for the sustainability of the livestock sector. Emerging Markets and Technological Advancements Emerging markets, particularly in the Asia-Pacific and Latin America, present lucrative growth opportunities due to their expanding livestock and pet populations. The development of portable and affordable genetic testing solutions for on-farm or point-of-care applications is set to accelerate the adoption of genetic testing practices in these regions. Key Players in the Animal Genetics Market The animal genetics market is characterized by the presence of several key players, including: •Animal Genetics, Inc. (U.S.) •Zoetis Inc. (U.S.) •Mars Petcare (Part of Mars, Incorporated) (U.S.) •Embark Veterinary, Inc. (U.S.) •Neogen Corporation (U.S.) •Basepaws Inc. •LABOKLIN GMBH & CO.KG (Germany) •Generatio GmbH (Germany) Page 2 of 6 © Meticulous Research| sales@meticulousresearch.com

4. Animal Genetics Market 2024-2031 •Vetgen LLC (U.S.) •FarmLab Diagnostics (Ireland) •EasyDNA (Part of Genetic Technologies Limited) (U.S.) These organizations play a pivotal role in shaping the future of the animal genetics market by innovating products and services that enhance animal health and productivity. Market Segmentation The animal genetics market can be categorized into several segments based on testing services, sample types, animal types, end users, and geography. 1. Testing Services The market is segmented based on various testing services, including: •DNA Profile Testing •Genetic Traits Testing (including coat color & pattern, body size, and other traits) •Genetic Disease Testing (including infectious diseases and inherited disorders) •Other Testing Services The genetic disease testing segment is projected to register the highest CAGR of 6.7% during the forecast period from 2024 to 2031. The growth of this segment is primarily driven by the widespread prevalence of infectious diseases in livestock, posing significant risks of outbreaks. Furthermore, metabolic disorders such as cancer, hip dysplasia, and heart conditions are increasingly common, driving demand for early detection and management. 2. Sample Types The market can also be segmented by sample types, which include: •Blood •Tissue •Semen •Embryo •Other Sample Types Page 3 of 6 © Meticulous Research| sales@meticulousresearch.com

5. Animal Genetics Market 2024-2031 The blood sample segment is anticipated to witness the highest growth rate during the forecast period from 2024 to 2031. The convenience and reliability of blood samples for genetic testing, along with their ease of disease identification, contribute to this growth. 3. Animal Types The animal genetics market is segmented into: Companion Animals (primarily dogs and cats) Livestock (including poultry, porcine, bovine, and fish) Other Animals The companion animal segment is expected to hold the largest share of the market in 2024. This dominance is attributed to the substantial global population of pet animals, increasing expenditure on pet health, and the growing demand for purebred companion animals leading to ancestry testing. 4. End Users The market can be segmented based on end users, including: •Veterinary Hospitals and Clinics •Academic & Research Institutes •Animal Breeders •Pet Owners In 2024, the animal breeders segment is anticipated to account for the largest share of the market. The high demand for superior genetic quality livestock, rising demand for purebred companion animals, and the growing adoption of genetic testing for breed authentication are key factors driving this trend. 5. Geographic Insights The geographical analysis of the animal genetics market reveals varying trends across different regions: •North America (U.S. and Canada): Expected to hold the largest market share in 2024 due to advanced research facilities, high adoption of genomic technologies, and strong industry support. Page 4 of 6 © Meticulous Research| sales@meticulousresearch.com

6. Animal Genetics Market 2024-2031 •Europe: Characterized by stringent regulations promoting animal health and welfare, driving the demand for genetic testing services. •Asia-Pacific: Projected to grow at the highest CAGR during the forecast period, fueled by increasing livestock populations, rising incomes, and growing pet ownership. •Latin America: Emerging as a promising market, supported by government initiatives to improve livestock productivity and health. •Middle East & Africa: Showing potential for growth as livestock industries expand and the demand for genetic testing services rises. Challenges and Opportunities Challenges Despite the promising growth trajectory, the animal genetics market faces certain challenges. Regulatory hurdles and the need for stringent compliance with animal welfare standards can hinder the adoption of genetic testing services. Additionally, the high costs associated with advanced genomic technologies may pose a barrier for small-scale farmers and breeders. Opportunities Conversely, the growing awareness of the benefits of genetic testing presents significant opportunities for market players. The development of affordable and user-friendly genetic testing solutions will further facilitate adoption, particularly in emerging markets. Collaborations between private and public organizations can also enhance research efforts, leading to innovative products and services in the animal genetics space. The Future Outlook of the Animal Genetics Market The future of the animal genetics market appears promising, driven by the increasing adoption of genetic testing and advancements in genomic technologies. As stakeholders continue to embrace precision breeding techniques, the market will likely witness significant innovation and growth. Read Full Report :- https://www.meticulousresearch.com/product/animal- genetics-market-5863 Conclusion Page 5 of 6 © Meticulous Research| sales@meticulousresearch.com

7. Animal Genetics Market 2024-2031 The animal genetics market is on the cusp of a transformation that will redefine how livestock and companion animals are bred and managed. With advancements in genetic testing, growing awareness of the benefits of precision breeding, and supportive government initiatives, the industry is poised for substantial growth. By capitalizing on emerging trends and addressing the challenges ahead, market players can position themselves for success in this evolving landscape. About Meticulous Research® Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia- Pacific, Latin America, and the Middle East & Africa. The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. Contact Us: Meticulous Research® Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous- research Page 6 of 6 © Meticulous Research| sales@meticulousresearch.com