According to the business intelligence report titled ‘Animal Genetics Market Size By Animals (Canine, Porcine, Poultry, Bovine), By Service Type (DNA Typing, Genetic Trait Testing, Genetic Disease Tests), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with Market Study Report, global animal genetics market is expected to amass notable gains between 2021-2027.
 

Growing demand for animal derived protein and increasing efforts to identify superior disease resistant breeds in emerging countries are key factors fueling global animal genetics market expansion. 
 

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For the unversed, animal genetics involves genetic improvement of animals to raise livestock production as well as help them to adapt to challenges such as climate change and diseases. Adoption of modern genetic technologies for mass production of high-quality breeds in developed economies will expand the business opportunities in this field.
 

The report further cites that increasing research & development activities will spur market augmentation. For example, in January 2020, a few scientists from the USDA’s Meat Animal Research Center and university of Nebraska Lincoln successfully identified two prominent genes that cause congestive heart failure in bovines. These scientists then collaborated with a team of experts from MatMaCorp to form a genetic test using this information, which is now being used for selective breeding and animal health management.
 

While increasing investments to produce healthier food & milk products from livestock will accelerate the animal genetics market expansion, shortage of skilled professionals in veterinary research will pose as a challenge for businesses in this domain.
 

Based on animal, the industry is divided into canine, poultry, porcine, and bovine. Among these, the bovine segment held 15% share in 2020 and is anticipated to grow considerably between 2021-2027.
 

Speaking of service, the market sphere is fragmented into DNA typing, genetic disease tests, and genetic trait testing, among which, the last segment is slated to expand at 6.5% CAGR between 2021-2027 due to rising adoption of genomic disease testing to prevent financial losses to farm owners.  
 

Regionally speaking, Latin America held 7% of worldwide animal genetics industry share in 2020 and is projected to expand substantially by 2027 owing to rising demand for genetic testing services across the region.
 

Key players profiled in the report are Animal Genetics Inc., Zoetis Inc., Topigs Norsvin, Genus plc, EasyDNA, Hendrix Genetics B.V., CRV Ambreed, Neogen Corporation, VetGen, and Envigo.