Market Size in 2021 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 0.321 Billion | USD 0.641 Billion | 9.21% | 2021 |
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.
The report analyzes the global pet DNA testing market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the pet DNA testing industry.
Deoxyribonucleic Acid (DNA) is the molecule that is responsible for encoding information related to genes in cells of living organisms including humans and animals. DNA consists of a long chain of nucleotides that are enriched with genetic information or a set of instructions that are used for the functioning and development of all living organisms along with some viruses. It controls the personal fundamental characteristics that get passed on from generation to generation which is achieved by protein synthesis.
DNA plays an extremely crucial role in the study of living organisms and is a critical tool of study in the scientific and research community. It helps to completely understand genetics and biology. DNA studies of humans and animals alike are used extensively to learn evolution and have applications in fields like forensic science, biotechnology, healthcare, pharmaceutical, and research. Animal, especially pet DNA testing is an important industry. It is usually carried out using samples like tissue, hair, or blood which undergo processing in the laboratory for DNA extraction. The analysis of extracted DNA is conducted using various techniques including DNA sequencing, restriction fragment length polymorphism (RFLP), or polymerase chain reaction (PCR).
To know more about this report, Request a sample copy
Growing rate of pet adoption and subsequent care to act as a major growth propeller
The global PET DNA testing market is projected to grow owing to the increasing rate of pet adoption and the subsequent care needed by them for a long and healthy life. Various countries are observing a rapidly rising rate of couples or single individuals preferring adopting pets instead of reproducing biological children.
The growing awareness amongst the population has allowed pets to be treated as important family members that are given the same attention as humans. This has helped to increase interest amongst pet owners in garnering genetic information about their pets. For instance, as per a study report posted on News Channel 8, almost 22% of surveyed millennials and gen Z prefer to have pets instead of kids. Similarly, a study by Rover reported that 1 in every 10 American parents admitted to having waited for reproducing a child and instead got a pet.
The lower associated upfront costs were a major reason for this behavior. Furthermore, the global industry can expect revenue due to constant research and development activities surrounding DNA testing technology. The recent advancements in DNA testing have helped in covering multiple drawbacks that previous technologies help and allow end-users to obtain accurate results in a short time along with excellent interpretation. This has made the systems in the global market become more accessible.
High cost to restrict market expansion
One of the key reasons that could act as a restriction on global sales value is the high cost of undertaking pet DNA testing. This is especially applicable to pet owners who are on a tight budget. The starting price for dog DNA testing is around USD 100 with additional charges for detecting diseases. Furthermore, the pet DNA testing industry currently remains a highly unregulated market and there is a significant lack of standardization causing inconsistencies and inaccuracy in test results.
Growing awareness to provide excellent growth opportunities
The global pet DNA testing market can expect high growth opportunities owing to the increasing awareness amongst the population about the benefits of pet DNA testing. The regional bodies regulating pet care in various countries have initiated various programs to educate people about the different facets of the test. In addition to this, untapped markets hold tremendous expansion potential and are likely to be explored during the forecast period. Developing countries are on the target list of various industry players.
Privacy concerns to challenge the market expansion
Despite the various measures undertaken by professionals in the pet DNA testing industry, the risk of data leakage about pet genetics remains a primary concern amongst pet owners. Some people may not be comfortable with the DNA information about their pets being shared with other individuals. To curtail some issues, professionals have to ensure that the data remains secure and in no way leads to an invasion of privacy. The growing competitiveness, although a good trait, has caused many players to be left behind as there are no differentiating measures undertaken by them at the right time.
The global pet DNA testing market is segmented based on sample type, animal, end-user, test, and region
Based on sample-type, the global market is segmented into semen, saliva, blood, and others.
Based on animal, the pet DNA testing industry is segmented into dogs, cats, and others
Based on the test, the global market is divided into genetic diseases, breed profile, and health & wellness.
Based on end-user, the global market is segmented into veterinarians, breeders, and pet owners
Report Attributes | Report Details |
---|---|
Report Name | Pet DNA Testing Market Research Report |
Market Size in 2021 | USD 0.321 Billion |
Market Forecast in 2030 | USD 0.641 Bllion |
Compound Annual Growth Rate | CAGR of 9.21% |
Number of Pages | 214 |
Forecast Units | Value (USD Billion), and Volume (Units) |
Key Companies Covered | DNA MY DOG, Wisdom Panel, GENSOL DIAGNOSTICS, LLC, Orivet Genetic Pet Care Ltd, Basepaws, Inc., Embark Veterinary, Inc., PetDx, Neogen Corp, and FidoCure. |
Segments Covered | By Sample Type, By Animal, By End-user, By Test, And By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA) |
Countries Covered | North America: U.S and Canada Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific Latin America: Brazil, Argentina, Chile The Middle East And Africa: South Africa, GCC, Rest of MEA |
Base Year | 2021 |
Historical Year | 2016 to 2020 |
Forecast Year | 2022 - 2030 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
North America to witness the highest revenue during the forecast period
The global pet DNA testing market is projected to register the highest growth in North America with the US emerging as the leading country. Several factors are responsible for regional market growth. The high pet adoption rates and a growing willingness to spend large amounts on pet healthcare are the critical driving factors. Additionally, the growing awareness about the importance and benefits of pet DNA testing has resulted in more people opting for garnering more information about their pets. It enhances pet care.
The country boasts of a highly advanced pet-related healthcare infrastructure along with the presence of multiple options for DNA testing which eases the entire process. Grooming services, and availability of veterinary, pet supplies, and food are abundantly present in the US making it the largest regional market worldwide. However, war-torn or economically backward countries may not be a viable option for the market due to a lack of infrastructure, less pet adoption, and pet care.
The global pet DNA testing market is led by players like:
By Sample Type
By Animal
By End-user
By Test
By Region
FrequentlyAsked Questions
Deoxyribonucleic Acid (DNA) is the molecule that is responsible for encoding information related to genes in cells of living organisms including humans and animals.
The global PET DNA testing market is projected to grow owing to the increasing rate of pet adoption and the subsequent care needed by them for a long and healthy life.
According to study, 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
The CAGR value of the pet DNA testing market is expected to be around 9.21% during 2022-2030.
The global pet DNA testing market is projected to register the highest growth in North America with the US emerging as the leading country. Several factors are responsible for regional market growth.
The global pet DNA testing market is led by players like DNA MY DOG, Wisdom Panel, GENSOL DIAGNOSTICS, LLC, Orivet Genetic Pet Care Ltd, Basepaws, Inc., Embark Veterinary, Inc., PetDx, Neogen Corp, and FidoCure.
RelatedNews
HappyClients
Zion Market Research
Tel: +1 (302) 444-0166
USA/Canada Toll Free No.+1 (855) 465-4651
3rd Floor,
Mrunal Paradise, Opp Maharaja Hotel,
Pimple Gurav, Pune 411061,
Maharashtra, India
Phone No +91 7768 006 007, +91 7768 006 008
US OFFICE NO +1 (302) 444-0166
US/CAN TOLL FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com
We have secured system to process your transaction.
Our support available to help you 24 hours a day, five days a week.
Monday - Friday: 9AM - 6PM
Saturday - Sunday: Closed