Animal Genetics Market Worth $5.8 billion | Growing Global Population and Rapid Urbanization

(IT-NEWSWIRE.COM, September 01, 2020 ) The study involved four major activities to estimate the current market size for animal genetics products and services. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size.

According MarketsandMarkets Research - The Animal Genetics Market is projected to reach USD 5.8 billion, at a CAGR of 6.5 % during the forecast period.

Market Size Estimation;

Both top-down and bottom-up approaches were used to estimate and validate the total size of the animal genetics market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

- The key players in the industry and markets have been identified through extensive secondary research.

- The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.

- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Browse 229 market data Tables and 31 Figures spread through 241 Pages and in-depth TOC | Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=12462093

Live porcine is expected to grow at the fastest CAGR during the forecast period.

Based on live animal type, the porcine segment is expected to grow at the fastest CAGR during the forecast period. This can be attributed to the large consumer base of pork and pork products, and the increasing penetration of advanced veterinary genetic research into this segment.

The genetic disease test segment is expected to grow at the highest CAGR during the forecast period.

Based on animal genetic services, the genetic disease test segment is expected to grow at the highest CAGR during the forecast period. This is attributed to the increasing adoption of genomic disease tests to prevent economic losses and loss of productivity of farm owners.

Geographically, animal genetic market has been studies for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to dominate the animal genetics market during the forecast period. This is attributed to the presence of a large number of leading players of the animal genetics market in this regions, along with the high adoption of the latest technologies in animal genetics. Besides, the establised livestock sector, and the growing demand for animal protien is expecetd to drive the North American animal genetics market.

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Key Questions Addressed in the Report:

- Who are the top 10 players operating in the animal genetics market?

- What are the driving factors, restraints, opportunities, and challenges in the animal genetics market?

- What are the industry trends and current scenario of the animal genetics market?

- What are the growth trends in the animal genetics market at segmental and overall market levels?

Key Market Players;

The prominent players in the animal genetics market are 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).

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Animal Genetics Market Worth $5.8 billion | Growing Global Population and Rapid Urbanization