Animal Healthcare Sector to Grow as Crucial End-use Industry in Animal Genetics Market
The development of progressive genetic modification practices is leading to the high production of animals with modified breeds, thereby attracting investments from end users.
Livestock farmers are achieving high milk- and meat-production by leveraging animal genetic technology. Through strategic breeding, livestock farmers are able to achieve relatively higher gains, which is projected to broaden the end-user base of the animal genetics market.
Besides this, the high susceptibility of animal-borne disease transmission to humans has been a push for the animal health industry from central authorities to formulate effective therapeutics for animals.
Following this influence, the prominence of animal genetics is on a perpetual rise for animal testing.
However, the cost-prohibitive nature of animal testing, coupled with lack of skilled professionals, could limit the otherwise steady growth rate of the animal genetics market. All-in-all, players can anticipate healthy movement of the animal genetics market, with an estimated value of ~US$ 8 Bn by the year 2026.
Significance of Genetic Modification among Poultry Animals to Grow Exponentially
The popularity of genetic modification in bovine animals has been high, and is projected to continue through 2026, given the high sales of dairy products on a global level.
Besides this, the high susceptibility of cattle to respiratory diseases, alongside the financial cushion offered by central authorities to foster the development of healthcare technologies, is further anticipated to increase the reliance of livestock farmers on animal genetics.
However, recent times have recorded a massive increase in the demand for poultry products, given the influence of drivers such as urbanization and growing population density.
Poultry meat and eggs are gaining ground as crucial nutrition sources for humans, on account of which, livestock farmers are looking at increasing their production capacities.
In addition, the by-products of poultry are used as manure, while eggshells are fed to farm animals such as pigs. These multi-dimensional aspects of poultry animals are creating robust economic value for livestock farmers. On the backdrop of these influences, poultry animals are expected to account for the leading growth rate, i.e. 6.5%, in the animal genetics market during 2020-2026.
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Advancements in Artificial Insemination Techniques to Drive Opportunities
Embryos have been of paramount importance in the genetic modification of live animals, on account of their relatively high efficiency over semen.
Several livestock farmers have also noted a rise in the reproduction rate among bovine animals, thereby indirectly influencing their profitability.
Besides this, on the scale of cost of genetic materials, an embryo is found to have low import cost, which further increases its preference for genetic modification procedures.
On account of better outcomes and cost benefits, embryo remains a leading genetic material, with the sub-segment estimated to record a CAGR of ~6% over the forecast period.
With growing focus on hygiene in animal shelters, this technique eliminates the possible transmission of diseases during the mating of animals, thereby upgrading the quality of livestock.
Asia Pacific to Grow as a Goldilocks Region for Investment
Numerous macroeconomic and microeconomic aspects are boding exponential growth for the Asia Pacific animal genetics market. Macroeconomic factors such as urban sprawl and high population density are perpetually pressurizing food producers to meet nutritional demand by increasing the production rate of livestock animals.
On the other hand, the animal healthcare ecosystem has been on a progressive improvement track, which is unfolding opportunities for players in the animal genetics market to develop effective animal testing procedures.
Given the influential position of this region in the food industry, with innovation being the key strategy to survive in the competitive landscape, the demand for quality livestock is on the rise. On account of these aspects, Asia Pacific is considered as a goldilocks region for investment and geographical expansion.
However, North America is projected to retain its dominance in the global animal genetics market during the forecast period, on account of the high demand for beef and poultry food products in the region.
High technological competencies of players operating in this region are attracting numerous license agreements from other key players to gain a reciprocal advantage in the animal genetics market, which is a crucial revenue stream for the regional market.
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Animal Genetics Market – Assessment of Segmentation
The global animal genetics market is segmented based on product and geography.
This study on the global animal genetics market has product- and country-specific data, along with market size valuation and forecast price point assessment of the same. The price index and the impact analysis of key regional and country-wise dynamics, also mentioned in the report, have been obtained through quotes from stakeholders and experts in the global animal genetics market. An in-depth analysis on the Y-o-Y growth projections of the animal genetics market are also included in this report.
Animal Genetics Market – Scope of the Report
Fact.MR’s report on the animal genetics market provides forecast details and a comprehensive outlook on the evolution of the landscape. It provides historical data from 2016 to 2019, estimated data for 2020, and forecast data up to 2026, in terms of revenue.
This study offers analysis and data on the key trends that are impacting the development of the animal genetics market, along with macro-economic indicators of the same through the forecast period.
This report sheds light on how these inclinations are expected to have an influence on the various components in the value chain within the animal genetics landscape, from the suppliers to the end users, and the effect it is likely to have on the growth of the same.
This report is a study on the current scenario, on the end user’s requirements, and the issues faced by various end users in the animal genetics landscape. It is meant to provide readers with an all-inclusive view of the market as a whole, and a detailed understanding of the major players in the animal genetics market.
This analysis of key players includes not just data on product development and market presence, but also a comparative assessment of the companies on a variety of parameters.
Animal Genetics Market – Research Methodology
The data presented in this report on the global animal genetics market, pertaining to regional and country level information on expected growth of the segments, is estimated though a combination of primary and secondary research, across regions and countries.
This collated data is analysed using both, a top-down analysis followed by a bottom-up approach, and market attractiveness analysis as well.
This global animal genetics market report’s competition scenario analysis is based on historical data and current trends in the market, and data and insights obtained gained through secondary sources.
To cross-check the data that is collated, a system of triangulation is used to understand both, the supply and demand sides of the animal genetics market.
For the assessment of the market size of the animal genetics scenario, information has been gathered from the revenues generated by leading players, coupled with their production capacities.
There are also other qualitative and quantitative findings gathered from interviews with people within the animal genetics market, including executives, CEOs, and plant managers, which has been incorporated into this report. This information has been adhered to by the analysts while developing this report on the global animal genetics market.
Secondary research is leveraged for ascertaining the overall size of the animal genetics market.
The market viewpoint that is offered in this report on the animal genetics landscape considers the impact of and macro-economic factors that are expected to influence the evolution of the market. The report includes a section on global pricing analysis, restraint analysis, and an opportunity analysis of the animal genetics market.
This report is designed to serve as an authentic and informative resource, enabling readers to make data-based decisions on the future of businesses in the global animal genetics market.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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