Dublin, Oct. 15, 2024 (GLOBE NEWSWIRE) -- The "Pet DNA Testing Market Size, Share and Trends Analysis 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The global pet DNA testing market is expected to reach USD 676.64 million by 2030, registering to grow at a CAGR of 9.45% from 2024 to 2030.
The key factors driving the industry growth include a rise in consumer genomics, high pet expenditure & pet humanization, increased awareness & sale of pet DNA testing products, and an increase in the number of R&D initiatives. Owing to a significant increase in the pet adoption rate in recent years, families are spending more time and money on their companions. According to the American Pet Products Association (APPA), the U.S. pet industry expenditure reached USD 123.6 billion in 2021 from USD 103.6 billion in 2020, increasing by 19%.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
The COVID-19 pandemic resulted in significant growth of the pet industry by setting new trends. Some noteworthy trends were a sudden increase in the adoption of dogs & cats, a rise in pet humanization trends with a large amount of time spent by owners at home, an increase in awareness among people about pet diseases & behavioral changes, and the growth of e-commerce platforms. High household income, changes in financial situations, and remote working were also among the strong factors responsible for increased adoption of new pets during the pandemic. DNA testing has shown several potential benefits for companion animals by providing information that the owner needs to prepare their pets for the future.
Knowing certain genetic hereditary diseases in advance enables owners to start timely treatments, also potentially avoiding costly medication or diagnostic bills later on. Current generations are widely active on social media, enabling them to quickly adapt to new pet trends. This factor is increasing awareness among pet parents regarding pet breed test products, their ease of use, and their enormous applications. People spend heavy amounts on various animal products. Their keen interest in understanding pets' age, breed mix, and ancestral relations allow owners to guess their pet's behavioral patterns and start required training. Furthermore, the increased interest of people in the U.S. in certain pet breed categories has increased the requirement for breed testing and its products among professional breeders.
The usage of pet DNA testing and genetic profiling before breeding procedures prevents breeders from producing puppies with a high risk of diseases. Owing to these affirmative factors, awareness and sales of pet DNA testing products are expected to grow in the long run. As the field of genomics is advancing in the veterinary industry, pet genetic test kits are becoming more common. Companies are offering at-home dog & cat DNA testing resources for breeders, pet owners, and veterinarians for over 15 years. Since the introduction of direct-to-consumer genetic test products in 2009 by Mars Petcare, the industry has been significantly growing with considerable opportunities.
Similar to the widening scope of human genomics and genetic testing, DNA profiling procedures in veterinary industries are growing. With regard to the accuracy, at-home DNA sampling tests for pets have proven to be reliable with enormous valuable information. For example, Embark Veterinary, Inc. states that its breed profile tests are over 95% accurate.
Pet DNA Testing Market Report Highlights
- The dogs animal type segment accounted for the largest revenue share in 2023 due to the high adoption of dogs in the U.S.
- The saliva sample type segment held the largest share in 2023 as saliva DNA tests are more popular and widely performed for predicting the genetic makeup of pets
- On the basis of test type, the genetic diseases segmented the industry in 2023. Genetic DNA profiling is one of the standards of care in breeding programs today, with mandatory requirements
- Breeders around the world are striving to breed better dog or cat breeds with quality traits for every generation of owners to suit their requirements
- Moreover, along with physical features, such as quality fur color, eye color, height, and weight, owners also look for animals with better health and talents in specific tasks
- North America accounted for the largest revenue share in 2023 while Asia Pacific is expected to grow at the fastest CAGR from 2024 to 2030
The leading players in the Pet DNA Testing market include:
- Zoetis Inc. (Basepaws Inc.)
- Mars Petcare (Wisdom Panel)
- Orivet Genetic Pet Care Limited
- Embark Veterinary, Inc.
- Dognomics (public: Clinomics)
- DNA MY DOG (Canadian Dog Group Ltd.)
- Neogen Corporation
- EasyDNA (Genetic Technologies)
- CirclePaw (Prenetics Global Limited)
- Macrogen, Inc.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $365.34 Million |
| Forecasted Market Value (USD) by 2030 | $676.64 Million |
| Compound Annual Growth Rate | 9.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/axd6rd
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