Market Research Report
North America Animal Genetics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Products, Genetic Material, Service
|Published by||The Insight Partners||Product code||1001492|
|Published||Content info||120 Pages
Delivery time: 1-2 business days
|North America Animal Genetics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Products, Genetic Material, Service|
|Published: April 8, 2021||Content info: 120 Pages||
The North America animal genetics market is expected to reach US$ 3,428.06 million in 2027 from US$ 2,082.34 million in 2019. The market is estimated to grow with a CAGR of 6.5% from 2020 to 2027.
The growth of this market is attributed to the factors such as the increasing livestock population, growing adoption of animal derived protein products, and the rising innovations in phenotyping services. However, the market is expected experiencing slow growth during the forecast period owing to the lack of skilled professionals in animal research.
Phenotyping of animals improves animal efficiency in terms of improved health and body resilience of animals to be minimally affected by environmental disturbances. Automated high-throughput phenotyping with sensors, imaging, and other on-farm technologies has resulted in the generation of massive data that are primarily utilized. Phenotype selection is a modern approach in animal genetics, which is expected to offer considerable opportunities in the market by providing successful tools for long-term livestock efficiency improvement. Moreover, rapid genetic selection through these services is expected to improve the quality of dairy cattle and animals rich in proteins.
Further, future sequencing and other genomics technology will also facilitate deep phenotyping of livestock at the molecular level. Services such as data science, training services needed to manage, record, and analyze data to generate knowledge and advances in animal genetics and related disciplines have considerable prospects. Market players in the animal genetics market have adopted several strategies to adopt these innovative phenotyping services. For instance, Vytelle IVF and GrowSafe Systems Ltd. have entered into a partnership to accelerate genetic advances in bovine biotechnology. The companies will operate together to produce a high-quality protein with sustainability and offer profit potential for cattle producers. These companies are also offering Phenotyping services for fast and forward generational advances in animal genetics. These advances in Phenotyping services will bring significant opportunities for market players in the animal genetics market.
The incidence of COVID 19 has not yet registered among the animals. Also, there is no evidence that companion animals are the prime source of the spreading epidemic in humans. However, various studies have been conducted to check the spread of disease from animals to humans. In many cases, zoonotic diseases were found in humans due to interaction with animals. Therefore, government bodies are taking more precautions and safety measures to prevent the spread of COVID-19 in animals. The measures are widely carried out for companion animals as they frequently come in contact with their owners. Also, it is essential to report the cases to a veterinary authority. For instance, in the region, to report the cases of detection of COVID-19 is done to OIE through WAHIS, in accordance with the OIE Terrestrial Animal Health Code as an emerging disease.
The OIE is actively working by aiding research for their on-going research and other implications of COVID-19 for animal health and veterinary public health. The assistance is also providing risk assessment, risk management, and risk communication. Also, the OIE has put in place an Incident Coordination System to coordinate these activities. In addition, OIE is also working with the Wildlife Working Group and other partners to develop a long-term work program. The aims are to provide better understandings, dynamics, and risks around wildlife trade and consumption. Also, it aims to develop strategies to reduce the risk of future spillover events.
Based on product, the North America animal genetics market is segmented into poultry, porcine, bovine, canine, and others. The porcine segment held the largest market share in 2019 and is anticipated to register the highest CAGR in the market during the forecast period.
Based on genetic material, the North America animal genetics market is segmented into semen and embryo. The embryo segment held a larger market share in 2019, whereas the semen segment is anticipated to register a higher CAGR in the market during the forecast period.
Based on service, the North America animal genetics market is segmented into DNA typing, genetic trait tests, genetic disease tests, and others. The DNA typing segment held the largest market share in 2019, whereas the genetic disease tests segment is anticipated to register the highest CAGR in the market during the forecast period.
A few of the primary and secondary sources referred to while preparing the report on the North America animal genetics market are the National Institute of Food and Agriculture (NIFA), Food and Agriculture Organization (FAO), among others.
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