APAC Animal Genetics Market

APAC Animal Genetics Market Size (2023 to 2028)

The Animal Genetics Market size in the Asia Pacific was worth USD 0.94 Billion in 2023 and is estimated to be growing at a CAGR of 9.2% to reach USD 1.46 billion by 2028.

Animal genetics is a branch of genetics that deals with the study of inheritance and genetic variation, primarily in domestic and wild animals. It is based on the principles of heredity. Animal genetics uses hybrid, population, cytological, mathematical-statistical, ontogenetic, and twin general genetics methods. At the commercial level, animal genetics is used for services such as genetic trait testing, DNA typing, and genetic disease testing.

Growth in the Asia-Pacific market is primarily driven by the rising demand for animal-derived products, an increase in the population of livestock animals, and the implementation of animal welfare acts. To meet the increasing demand for animal products, producers resort to animal genetics to breed high-quality livestock and secure large-scale production. In addition, an increase in the cases of animal diseases has further boosted the market's growth.

However, the high cost of animal testing and low returns on R & D are some of the market's restraints.

This research report on the APAC animal genetics market has been segmented and sub-segmented into the following categories:

By Animal Genetic Product:

• Live Animals
  • Poultry
  • Porcine
  • Canine
  • Bovines
  • Other Animals
• Genetic Material
  • Semen
    • Bovine semen
    • Porcine semen
    • Canine semen
    • Equine semen
    • other animals
  • Embryos
    • Bovine embryo
    • Equine embryo
    • Other animals

By Testing Service: 

• DNA Typing
• Genetic Trait Tests
• Genetic Disease Tests

By Country: 

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

During the forecast period, Asia-Pacific is estimated to be the fastest-growing regional market in the global animal genetics market. Factors such as the established livestock sector, growing porcine industry, rising per capita incomes and increasing per capita spending on animal care, and increasing awareness of technologically advanced animal genetic products and services are primarily promoting the animal genetics market in the APAC region.

The Indian animal genetics market in the APAC market is estimated to lead the market during the forecast period. The increased demand for animal-derived products, an increase in the population of livestock animals, and the implementation of animal welfare laws are expected to promote the Indian market during the forecast period. To fulfill the growing demand for animal products, farmers turn to animal genetics to breed high-quality cattle and ensure large-scale output. Furthermore, a surge in the number of incidences of animal diseases has aided the market's expansion.

The Chinese animal genetics market is predicted to register a healthy CAGR during the forecast period. The Chinese government's substantial expenditure in various breeding programs also contributes to the market's expansion in APAC. The national subsidy strategy has boosted the appeal of superior breeds and is the driving force behind the steady increase in livestock production. A total of 108 new animal breeds for commercial lines have been established in China. As a result, the industry's growth is expected to be fueled by increasing government investment in the animal genetics sector throughout the Asia Pacific.

KEY MARKET PLAYERS:

Companies playing a notable role in the APAC animal genetics market profiled in this report are Genus Plc, Hendrix Genetics BV, Alta Genetics, CRV Holding B.V., Neogen Corporation, VetGen, Animal Genetics Inc., and Zoetis.