Emerging Countries like North America, Europe Are New Revenue Pockets for the Animal Genetics Market

The Animal Genetics Market is projected to reach USD 5.8 billion by 2023 from USD 4.2 billion in 2018, at a CAGR of 6.5 % during the forecast period.

ID: 1555178
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(businesspress24) - The increasing global population and the growing worldwide demand for animal products such as meat, milk, and eggs are expected to drive the growth of this market during the forecast period. The worldwide market is a fragmented market. However, each product and service segment are dominated by two to three leading players.

Market growth is driven primarily by the rising consumption of animal-derived protein, the growing global population, and rapid urbanization across the globe. However, a shortage of skilled professionals and technicians for performing advanced genetic services is hampering the growth of the market.

Animal Genetics Market segmentation:

& services

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The Major Players Operating in the Animal Genetics Market:

Key players in the industry includes Neogen Corporation (US), Genus (UK), URUS (US), EW Group (Germany), Groupe Grimaud (France), CRV Holding (Netherlands), Topigs Norsvin (Netherlands), Zoetis (US), Envigo (US), Hendrix Genetics (Netherlands), Animal Genetics (US), and vetGen (US).

Genus held the leading position in the animal genetics market for porcine segment in 2017 and is also one of the leading players in the bovine animal genetics market. The company has a strong product portfolio of live porcine and bovine as well as animal semen. The company has a strong geographic footprint and a base of more than 50,000 customers including world leading milk and meat producers. The company

Recent Developments in the Industry:

al genomics laboratories.

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Objectives of the Study:

& service and region

Geographical Detailed Analysis for Animal Genetics Market:

Geographically, the market has been studied for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America is expected to dominate the market during the forecast period. This is attributed to the presence of many leading players of the market in this region, along with the high adoption of the latest technologies in animal genetics. Besides, the established livestock sector, and the growing demand for animal protein is expected to drive the North American market.

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Date: 01/13/2020 - 04:12
Language: English
News-ID 1555178
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Firma: marketsandmarkets
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Meldungsart: Financial
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Freigabedatum: 13.01.2020

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