Global Animal Genetics Market Analysis (2024-2028): Insights

The animal genetics market is set to grow by USD 2.59 billion at a 7.45% CAGR (2023-2028). Rising demand for genetic testing services, especially for companion animals, fuels growth.

Market Size Forecast:

• USD 2.59 billion growth at a 7.45% CAGR.

Segmentation:

1. End-user Analysis:

   • Significant growth in research centers for diagnostic test development.

2. Solution Analysis:

   • Live animal segment driven by genetic selection.
   • Genetic testing services grow with advanced technologies.

Regional Analysis:

• Europe (34% contribution) and high North American demand.

Key Players:

• Companies like EasyDNA, Neogen Corp., and Zoetis Inc. adopting strategic measures.

Market Dynamics:

1. Market Drivers:

   • Increasing demand for infectious disease diagnosis in animals.

2. Market Trends:

   • Technological advances in genetics-based breeding methodologies.

3. Market Challenges:

   • Shortage of skilled professionals for genetic testing.

Customer Landscape:

• Adoption lifecycle, penetration rates, key purchase criteria, and price sensitivity drivers covered.