Wed August 31st, 2016
Animal Genetics Market worth 5.50 Billion USD by 2021
Download PDF Brochure@ http://tinyurl.com/o8hzww6 The global animal genetics market is projected to reach USD 5.50 Billion by 2021 from USD 3.68 Billion in 2016, at a CAGR of 8.4% from 2016 to 2021. The increasing animal-derived protein consumption and rising urban global population (which demands meat products) are the primary growth drivers of the animal genetics market. To cater to the rising demand of animal proteins, farmers are increasingly adopting advanced genetic technologies for larger-scale production and quality breeds. In addition, growing awareness about veterinary genetic diseases and disorders; increase in the population of livestock animals, especially in emerging markets; implementation of animal welfare acts in developed countries; and development of cutting-edge technologies in animal genetic testing are contributing to the growth of this market. However, stringent regulations regarding animal genetic engineering, expensive and time-consuming R&D activities, high cost of animal testing, and insufficient number of skilled professionals in animal genetics are restraining the growth of the animal genetics market to a certain extent.