Animal Genetics Market revenue to cross USD 6.4 Bn by 2027: Global Market Insights, Inc.

Selbyville, Delaware, March 08, 2021 (GLOBE NEWSWIRE) —
According to latest report “Animal Genetics Market by Animals (Canine, Porcine, Poultry, Bovine), Service Type (DNA Typing, Genetic Trait Testing, Genetic Disease Tests), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights, Inc., the market valuation of animal genetics will cross $6.4 billion by 2027. Implementation of animal welfare regulations and rising adoption of advanced genetic technologies will surge the demand for animal genetics.Rising government initiatives for developing advanced genetic technologies for quality breeds will spur the market growth during the forecast period. Genetically superior breeds show traits including disease resistance or longevity and fertility fostering the market expansion. Similarly, several government organizations are providing funding for animal welfare stimulating the industry value. The Animal Welfare Board of India (AWBI) encourages animal welfare and is among the largest funding organization. The organization provides grants, used for the rescued animals, construction of shelter houses, birth control & immunization, maintenance of sheltered animals that positively impacts the market demand.Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/4953The canine segment in the animal genetics market is expected to witness around 7.2% growth rate till 2027 led by increasing research regarding high quality breeds among dogs. For instance, National Human Genome Institute revealed insights on evolution of modern dog breeds boosting the industry growth. The genetic research on canines has grown in recent years leading to discovery of a numerous genes involved in personality traits, size and coat color, leading to demand for animal genetics enhancing the market revenue.The animal genetics market for genetic trait testing segment was valued at USD 990 Mn in 2020 impelled by genetic trait testing enables individuals to better manage risk and understand variety of inherited genetic disorders. In addition, genetic trait tests including tests for coat color, parentage tests and others is anticipated to increase with rising pet population augmenting the segment growth.Asia Pacific animal genetics market held more than 20% of revenue share in 2020 on account of rising demand for efficient testing of genetic diseases among animals. Increasing livestock population and advancement in DNA typing and genetic testing tools across the APAC region will surge the demand for genetic trait tests, accelerating the market demand. Increasing awareness regarding animal health along with rise in number of several animal genetic ailments will prove beneficial for the market growth.Some of the eminent players functioning in the market include Zoetis, Genus, Hendrix Genetics, Neogen, CRV Ambreed, VetGen, Animal Genetics, Envigo, and others. These companies are focusing on collaborations and partnerships that helps the company increase its market share globally.Request for customization of this research report @https://www.gminsights.com/roc/4953Some major findings of the animal genetics market report include:Increasing acceptance of advanced genetic technologies for massive scale production and quality breeds will impel the market expansionImproved living standards and changing consumer food habits will eventually boost the industry revenue.Growing focus on identifying superior breeds using genetic engineering will prove beneficial towards the industry demandIncreasing preference for animal derived proteins supplements and food products will fuel the market progression during the forecast periodShortage of skilled veterinary research professionals may limit the overall business expansion.Table of Contents (ToC) of the report:Chapter 3   Animal Genetics Market Insights3.1    Industry segmentation3.2    Industry landscape, 2016 – 20273.3    Industry impact forces3.3.1    Growth drivers3.3.2    Industry pitfalls and challenges3.4    Growth potential analysis3.4.1    By animals3.4.2    By service type3.5    COVID-19 impact analysis3.6    Porter’s analysis3.7    PESTEL analysis3.8    Competitive landscape, 20203.8.1    Company matrix analysis, 2020Browse Complete Table of Contents (ToC) @https://www.gminsights.com/toc/detail/animal-genetics-marketAbout Global Market Insights, Inc.Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.Contact Us: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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