Animal Genetics MarketSize and Trends

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 Regional Analysis

North America is expected hold dominant position in the global animal genetics market over the forecast period. Factors such as opinions from the population of U.S. for the use of genetically engineered animals for the benefit of human life is expected to support global animal genetics market growth over the forecast period. For instance, in August 2018, Pew Research Center, U.S. carried out a survey, wherein it collected people’s opinion on use of genetically engineered animals for the benefit of human life. Responses were taken from 2,537 adults, out of which majority of respondents supported genetic engineering of animals for human welfare. These factors are expected to have positive influence on the global animal genetics market growth.

Moreover, in November 2018, the U.S. Food & Drug Administration (FDA) proposed an action plan (related to regulatory approval of animals) for the betterment into genetics. The proposed action plan helps the scientists and start-ups to deliver their product into market. This action plan may encourage new researches of animal genetics, in turn supporting the global animal genetics market growth.

Countries in regions such as Asia Pacific are also constantly contributing into research and development of animal genetics. For instance, in March 2019, a group of researchers of Kunming Institute of Zoology, China, incorporated human gene (microcephalin-responsible for brain development in human) into rhesus monkey. It was revealed that the treated monkeys showed the impression of human brain. Such key developments are expected to have a positive impact on the global animal genetics market growth.