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

Browse 229 market data Tables and 31 Figures spread through 241 Pages and in-depth TOC on "Animal Genetics Market by Products & Services (Live Animals (Poultry, Porcine, Bovine, Canine) Genetic Material (Semen (Bovine, Porcine), Embryo (Bovine, Equine)) Genetic Testing (DNA Testing, DNA Typing, Genetic Disease Testing)) - Forecast to 2023"

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The animal genetic products segment accounted for the larger share of the animal genetics market in 2018

By product & service, the animal genetic products segment accounted for the larger share of the animal genetics market. The high demand for live animals by farmers and animal breeders is a significant factor supporting the growth of this segment.

The animal genetic testing services segment, on the other hand, is projected to witness the highest growth during the forecast period due to the growing awareness about veterinary genetic diseases and disorders and the increasing demand for livestock, especially in emerging markets.

The APAC market is expected to offer lucrative growth opportunities to players in the animal genetics market

The animal genetics market in the APAC is expected to grow at the highest CAGR during the forecast period. APAC countries, particularly China, India, Japan, and Australia, offer significant growth opportunities for players in the market due to the growing population and increasing urbanization in these regions, growth in the animal health industry, and increasing per capita spending on animal care.

Some of the prominent players in the animal genetics market are Neogen Corporation (US), Genus (UK), URUS (US), EW Group (Germany), Groupe Grimaud (France), Zoetis (US), CRV Holding (Netherlands), Topigs Norsvin (Netherlands), Envigo (US), and Hendrix Genetics (Netherlands).

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