Friday, 23 April 2021 08:43 GMT

Increasing Awareness about Animal Genetic Disorders to Augment the Animal Genetics Market Growth

(MENAFN - Coherent Market Insights) Animal genetics is one of the pillars of livestock development alongside animal nutrition, animal health, and husbandry issues such as housing. It is a part of biotechnology that includes the study of genes, genetic diversity, and heredity in animals. Animal genetics studies gene variants, gene expression, traits, and reproduction. It also involves genetic engineering, a technique for manipulating genes (adding/deleting genes) as a result of various combinations. Moreover, animal genetics is used to test genetic trait, genetic disease, or DNA in animals.

Market Dynamics:
An increase in livestock population and increasing awareness about animal genetic disorders is expected to fuel the growth of the animal genetics market. For instance, in 2018, the total number for livestock was pegged at around 536 million, according to the 20th Livestock Census released by the Department of Animal Husbandry and Dairying (India).

Moreover, the increasing adoption of various genetic practices or services, such as embryo transfer and Artificial Insemination (AI), for large-scale production of modified breeds is also expected to augment the growth of the animal genetics market.

Furthermore, increasing research and development studies in animal genetics, the increasing consumption of animal-derived protein and growing global population and rapid urbanization is expected to propel the growth of the animal genetics market. For instance, For instance, in 2018, Topigs Norsvin opened a new research center Delta Canada for the development of Topigs Norsvin as a global supplier of genetics.

North America is expected to witness significant growth in the animal genetics market due to rising companion animal ownership, increasing awareness of animal healthcare, and increasing demand for animal-derived food products in the region. According to the North American Pet Health Insurance Association (NAPHIA), by the end of 2018, the total number of pets insured reached 2.43 million, up by over 17% from 2017.

Competitive Analysis:
Major players operating in the animal genetics market are Zoetis, Animal Genetics, Inc., Alta Genetics Inc., Neogen Corporation, VetGen, Hendrix Genetics BV, CRV Holding B.V., Envigo Corporation, Genus Plc., and Topigs Norsvin Holding B.V.

Major players in the market are adopting various strategies, such as merger and acquisition, business expansion, etc., to enhance their market position. For instance, in 2018, Neogen acquired Livestock Genetic Services, a firm involved in data management and genetic evaluations for cattle breeding organizations, to expand its genetic evaluation capabilities.
In June 2019, Biovet planned to invest US$ 2 billion to expand its FMD and Brucellosis vaccine manufacturing facilities in Karnataka.


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