Market Scenario:
Animal genetics is a branch of genetics that pacts with the study of genetic variation and inheritance, primarily for domestic and wild animals. The Animal Genetics Market is expected to witness tremendous growth owing to as increased adoption of genetic services to prevent genetic diseases and business loss, and rising acceptance of advanced genetic technologies. Other key factors such significant investments in R&D and expansions undertaken by key players are contributing towards the growth of the market. However, challenges such as need for specific breeding programs for breeds with inferior economic performance, and economic sustainability in local breeds is likely to curb the market growth during the forecast period.
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For the commercial level, animal genetics is used for services such as DNA typing, genetic disease testing, and genetic trait testing. This methodology uses hybrid population, ontogenetic, and cytological studies for determining the genetic hybridizations. For instance, a genetically modified cow might be able to produce more milk and can be less prone to common cattle diseases, such as clostridial disease, bovine respiratory disease complex, etc., thus, effectively increasing overall profit of the cattle farmers.
The Global Animal Genetics Market size is projected to register a CAGR of 8.4% over the forecast period.
The key factor responsible for influencing this market is increasing consumption of animal-derived protein, growing global population and rapid urbanization, and growing focus on identifying superior breeds have aided the growth of the toxicology testing market. However, factors such as, the high cost of animal testing, stringent regulatory framework for genetic engineering, and lack of skilled professionals and are expected to restrict the market growth during the forecast period.
Key players:
- Neogen Corporation (US),
- Genus (UK),
- URUS (US),
- EW Group (Germany),
- Groupe Grimaud (France),
- CRV Holding B.V. (The Netherland),
- Topigs Norsvin (Netherlands),
- Zoetis (US),
- Envigo (US)
- Hendrix Genetics BV (The Netherland),
- Animal Genetics (US),
- Alta Genetics (US),
- vetGen (US)
Segmentation:
The Animal Genetics Market Global is segmented into animal genetic products, services, and end-user. The Animal Genetics Market, by animal genetic products, the market is segmented into genetic materials and live animals. The live animals are further bifurcated into poultry, bovine, porcine, canine and others. The genetic materials are sub-segmented into semen and embryo. On the basis of services, the animal genetics market is bifurcated into genetic disease tests, DNA typing, gene trait tests, and others. On the basis of end-user, the market is segmented into veterinary hospitals & clinics, diagnostic centers, research centers and institutes, and others
Regional Market Summary
The Americas is the largest in the market owing to the high acceptance of animal genetics in research, the development in research expenditure along with the increasing acquisition by the market players are also accountable for the growth of the animal genetics market. For instance, in 2018, Neogen completed the acquisition of Livestock Genetic Services, a firm that specializes in genetic evaluations and data management for cattle-breeding organizations. This strategy enhances the company’s in-house genetic evaluation capabilities and further expands the company’s global network of animal genomics laboratories.
The European region is the second largest animal genetics market over the forecast period due to high consciousness about animal wellbeing coupled with increased expenditure on veterinary services in the region. As per a report by the European Pet Food Industry Federation, more than 75 million households in Europe own a pet.
The Asia Pacific region is likely to develop at the uppermost CAGR for the animal genetics market in the years to come. Moreover, the rising veterinary care services both at the veterinary hospital and at community level are expected to influence the market in a positive way.
The Middle East and Africa accounts for the least share due to low per capita income and lack of availability of well-trained healthcare professionals. However, there has been an increasing demand for test accuracy and consistency among end-users and the government in this region that is enhancing the adoption of animal genetic technology in this region.
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According to the new market research report “Veterinary Equipment and Disposables Market by Product (Consumables, Anesthesia Machines, Ventilators, Patient Monitoring, Oxygen Masks, Infusion Pumps), Animal (Cats, Dogs, Equines, Bovines), End User (Hospitals, Clinics) – Global Forecast” published by MarketsandMarkets™.How the Market Growth looks like and Industry Segmentation?The Veterinary Equipment and Disposables Market is expected to reach USD 2.40 Billion, at a CAGR of 8.0% during the forecast period.On the basis of type, the critical care consumables segment accounted for the largest share of the global veterinary equipment market.
The large share of consumables can be attributed to the large number of consumables required and consumed in almost every veterinary care process, as opposed to the one-time cost of capital equipment.Based on animal, the small companion animals segment will dominate the veterinary disposables market in 2023.
The large share of this segment can be attributed to the high adoption of companion animals and rising expenditure on animal health.Based on end user, veterinary clinics are estimated to hold the largest share of the veterinary disposables market in 2023.
The large share of this segment can be attributed to the growing number of patient visits along with the increasing number of private clinical practices, and increasing practice revenues.Browse 304 market data Tables and 32 Figures spread through 265 Pages and in-depth TOC – Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=14169630Growth Driver in Depth:Growth in Companion Animal PopulationRising Demand for Pet Insurance With Growing Animal Health ExpenditureGrowth in the Number of Veterinary Practitioners and Income Levels in Developed EconomiesUntapped Emerging MarketsGrowing Size of Veterinary BusinessesRecent Developments in Industry:In 2017, Vetland Medical (US) launched the Harmony 5 Electronic and the LAS-3000 manual ventilation system under the anesthesia system segment.In 2016, Midmark (US) acquired VSSI, Inc. (US) to bring early-stage design and planning expertise, and integrated, built-in equipment solutions to the animal health practice.In 2015, Mila International (US) signed an agreement with Cook Medical (US) to offer Cook’s Medical devices for sale to veterinary clinics and veterinary schools in the US.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=14169630Geographical Regions Mapped in Report:North America is estimated to hold the largest share of the veterinary equipment and disposables market during the forecast period, followed by Europe and the Asia Pacific.
Factors such as the increasing number of companion animals, rising companion animal healthcare expenditure, rise in the number of livestock animals in North America (primarily due to the increasing consumption of meat and dairy products), and growth in the pet insurance market are responsible for the region’s large share in the global veterinary equipment market.Leading Key Players in the Worldwide Industry:The prominent players in the veterinary equipment and disposables market are Mindray Medical International Limited (China), Smiths Group plc (UK), Nonin Medical (US), Digicare Biomedical Technology, Inc. (US), B. Braun Melsungen AG (Germany), Henry Schein (US), Vetland Medical Sales and Services, LLC (US), Hallowell Engineering & Manufacturing Corporation (US), Infiniti Medical, LLC (US), DRE Veterinary (US), and Midmark Corporation (US).
09 Oct 2018 – This report studies Headset Market Globally with SWOT analysis, Market Share, Segmentation, Insights, Growth, Application, Trends, Production, Revenue and Consumption analysis in these regions, forecast to 2024.
This report focuses on top manufacturers in Global Market.
A headset being a wearable product witnessed a rise in sales and demand from the consumers in the last five years.
More or less, the industry trends have revealed an unfolded market for headset and wearable products to reveal their potential on a commercial level.
The headset market is driven by rise in use of enhanced communications in the application segment, particularly in the enterprise sector and BPOs.
