Market Challenges And Opportunities

Animal Genetics Market Drivers

New research and development studies in animal genetics is expected to boost the global animal genetics market growth over the forecast period. For instance, in June 2018, Topigs Norsvin established a research center in Canada to increase breeding and to attain maximal genetic progress of Z line and TN Tempo (breed name of the pigs). Approximately 2,600 pigs are being admitted here annually on which tests are going to be conducted.

Furthermore, in April 2019, Hendrix Genetics BV signed a memorandum of understanding (MoU) with Bangladesh Shrimp and Fish Foundation (BSFF) on evolution of black tiger shrimp. Hendrix Genetics BV is a genetic animal breeding company based in Europe and BSFF is a non-profit organization, which focuses on research of animal genetic engineering (mainly shrimps and fish). Hendrix Genetics BV is going to work on the genetics of black tiger shrimp with the help of BSFF’s findings on shrimps. Such partnerships are expected to stimulate the global animal genetics market growth.

Animal Genetics Market Restraints

There are certain organizations that are against the experimentation on animals due to its side effects like decrease in fertility or changes in physical traits, which may hinder the global animal genetics market growth. For instance, in March 2019, people for ethical treatment of animals (PETA), based in the U.S. released an advertisement, wherein it had shown brief process of an experiment being carried on animals, hinting towards the cruelty on animals. It also holds various campaigns to raise the awareness for prevention of experimenting on animals. This may hamper future developments into animal genetics and thus obstructing the global animal genetics market growth.