According to The Insight Partners market research study of ‘North America Animal Genetics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis - by Product, Genetic Material, and Service’ 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 2020-2027. The report provides trends prevailing in the North America Animal genetics market and the factors driving market along with those that act as hindrances.
Based on the product, the animal genetics market is segmented into poultry, porcine, bovine, canine, and others. The porcine segment held the largest share of the market and is expected to dominate the market share with the highest CAGR during the forecast period. The porcine segment’s market growth is expected due to the growing production of porcine and an increase in pork consumption across the globe. In the US, pork production generates $23.4 billion output per year. Additionally, 26% that is around 2.2 million metric tons of pork and its products are exported to other countries.
The growth of this market is estimated to grow owing to key driving factors such as the increasing livestock population and the 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.
NEOGEN Corporation, Genus, Topigs Norsvin, Zoetis Inc., Alta Genetics Inc., Groupe Grimaud, Envigo, VetGen, Animal Genetics Inc., Hendrix Genetics BV are some of the major players operating in the North America animal genetics market.
The report segments North America Animal Genetics Market as Follows:
By Product
- Poultry
- Porcine
- Bovine
- Canine
- Others
By Genetic Material
- Semen
- Embryo
By Service
- DNA typing
- Genetic Trait Tests
- Genetic Disease Tests
- Others
By Country
- US
- Canada
- Mexico
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