NEW YORK, June 14, 2021 /PRNewswire/ — The animal genetics market is expected to grow by USD 1.84 billion during 2021-2025, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the animal genetics market in optimistic, probable, and pessimistic forecast scenarios.
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The animal genetics market will witness a positive impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase in 2021 as compared to 2020.
With the continuing spread of the coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
The animal genetics market is driven by the growing consumption of animal-derived food products. In addition, the growing demand for genetic testing services to reduce livestock diseases is expected to trigger the animal genetics market toward witnessing a CAGR of almost 7% during the forecast period.
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Major Five Animal Genetics Market Participants:
Animal Genetics Inc.: The company offers Avian DNA sexing services.
AquaGen AS: The company offers selective breeding of Norwegian farmed Atlantic salmon and rainbow trout and other services.
Aviagen Inc.: The company offers broiler breeding stock through dedicated brands.
Cooperatie Koninklijke CRV u.a.: The company offers the service of developing fertile and healthy herd, named Ovalert.
Genetic Veterinary Sciences Inc: The company offers services namely gene mutation, breeding of panels, and other services through this segment.
Animal Genetics Market 2021-2025: Segmentation
Animal genetics market is segmented as below:
- North America
- Live Animal
- Genetic Testing Services
- Genetic Materials
Related Reports on Healthcare Include:
Global Preclinical Animal Behavior Market – Global preclinical animal behavior market is segmented by end-user (industrial laboratories and CROs and academic and government research laboratories), application (small animals and large animals), and geography (North America, Europe, Asia, and ROW).
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Global Animal Health Diagnostics Market – Global animal health diagnostics market is segmented by type (livestock and companion) and geography (North America, Europe, Asia, and ROW).
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