The global pet DNA testing market size was worth around USD 0.321 billion in 2021 and is predicted to grow to around USD 0.641 billion by 2030 with a compound annual growth rate (CAGR) of roughly 9.21% between 2022 and 2030.
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➤ The significant growth propeller is the increasing rate of pet adoption and subsequent maintenance.
The global PET DNA testing market is expected to expand as a result of the growing number of pets being adopted and the subsequent care required to ensure their long and healthy lives. A significant increase in the number of couples or solitary individuals who prefer to adopt pets over having biological children is being observed in a variety of countries.
➤ High cost to limit market expansion
The high cost of conducting companion DNA testing is one of the primary factors that could potentially limit the global sales value. This is particularly relevant for pet proprietors who are operating on a limited budget. The initial cost of dog DNA testing is approximately USD 100, with supplementary fees for the detection of diseases. Additionally, the pet DNA testing industry is currently characterized by a highly unregulated market and a significant lack of standardization, which results in inaccuracies and inconsistencies in test results.
➤ Increasing awareness to offer exceptional growth prospects
The global pet DNA testing market is poised for significant growth opportunities as a result of the growing public awareness of the advantages of pet DNA testing. Various programs have been implemented by the regional bodies responsible for regulating pet care in a variety of countries to inform the public about the various aspects of the test. Furthermore, it is probable that untapped markets will be investigated during the forecast period, as they possess substantial expansion potential. Various industry actors have identified developing countries as their primary objective.
➤ The market expansion may be impeded by privacy concerns.
The risk of data leakage regarding pet genetics continues to be a primary concern among pet owners, despite the numerous precautions taken by professionals in the pet DNA testing industry. There may be individuals who are uncomfortable with the idea of their canines’ DNA information being disclosed to others. Professionals must guarantee that the data is secure and does not violate privacy in order to mitigate certain concerns. Although competitiveness is a commendable quality, it has resulted in numerous competitors being left behind due to the absence of differentiated strategies implemented at the appropriate time.
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The Global Pet DNA Testing Market is segmented based on product, application and region
Global Pet DNA Testing Market: Product Segment Analysis
● Semen
● Saliva
● Blood
● Others
Global Pet DNA Testing Market: Application Segment Analysis
● Veterinarians
● Breeders
● Pet Owners
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The global Pet DNA Testing market profiles key players such as:
● DNA MY DOG
● Wisdom Panel
● GENSOL DIAGNOSTICS LLC
● Orivet Genetic Pet Care Ltd
● Basepaws Inc.
● Embark Veterinary Inc.
● PetDx
● Neogen Corp
● FidoCure
???? Recent Developments:
• Urban Animal, the first DNA testing service provider in India to offer doorstep sample pick-up and kit delivery, announced the launch of its dog DNA testing kit in December 2022. Currently, the company employs Next Generation Sequencing (NGS) technology to analyze companion DNA and generate results. The test equipment includes instruments that are painless, and the sample is generated with only a simple swab.
• The Age test, a groundbreaking product, was introduced by Embark Veterinary Inc. in October 2022, a prominent participant in the dog health and genetics industry. The kit’s primary processing principle is epigenetics, which is employed to ascertain the dog’s age using an algorithm developed by Embark.
➤ North America is expected to generate the most revenue during the forecast period.
North America is anticipated to experience the most significant development in the global pet DNA testing market, with the United States emerging as the leading country. Regional market development is the result of a combination of numerous factors. The critical driving factors are the increasing propensity to spend significant amounts on pet healthcare and the high pet adoption rates. Furthermore, the increasing recognition of the significance and advantages of pet DNA testing has led to an increase in the number of individuals who are choosing to obtain additional information about their pets. It improves the quality of pet treatment.
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