Animal Genetics Market Scope and Analysis by 2028
Animal Genetics Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2022 | US$ 6.13 Billion |
Market Size by 2028 | US$ 8.94 Billion |
Global CAGR (2022 - 2028) | 6.5% |
Historical Data | 2020-2021 |
Forecast period | 2023-2028 |
Segments Covered |
By Type
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Regions and Countries Covered | North America
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Market leaders and key company profiles |
COVID-19 Impact:
Research activities in genomic laboratories were widely affected in 2020 during the COVID-19 pandemic. Many animal laboratories conducting molecular testing in worldwide shifted their focus toward COVID-19 testing. With a rise in demand for PCR-based COVID-19 tests during the pandemic, animal laboratories had to shift their focus to this diagnostic area, which resulted in delayed animal genomic services. On the other hand, post-pandemic, the animal genetics market experienced good growth opportunities as SARS-CoV-2 is a zoonotic virus. A few animals, such as dogs, cats, ferrets, and minks, were tested positive for COVID-19. Thus, the lack of evidence of the origin of the transmission of COVID-19 from animals to humans, and insufficient insights into pathogenicity have provided vital growth opportunityi for research in animal genetics.
Competitive Landscape and Key Companies:
A few of the prominent players operating in the global animal genetics market include Neogen Corp, Genus Plc, Topigs Norsvin Nederland B.V, Zoetis Inc, Hendrix Genetics B.V, Inotiv Inc, Animal Genetics Inc, Alta Genetics Inc, GROUPE GRIMAUD LA CORBIERE, and Charles River Laboratories International Inc. These companies focus on new product launches and geographic expansions to meet the growing consumer demand worldwide and increase their product range in specialty portfolios. They have widespread global presence, which provides them to serve a large set of customers and subsequently increases their market share.