Pet DNA Testing Market Size, Share & Trends Analysis Report By Test Type, By Animal Type, By Sample Type, By End-user And Segment Forecasts, 2023 - 2030
Pet DNA Testing Market Size, Share & Trends Analysis Report By Test Type (Genetic Diseases, Health & Wellness), By Animal Type (Dogs, Cats), By Sample Type (Blood, Saliva), By End-user, And Segment Forecasts, 2023 - 2030.
New York, March 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pet DNA Testing Market Size, Share & Trends Analysis Report By Test Type, By Animal Type, By Sample Type, By End-user And Segment Forecasts, 2023 - 2030" - https://www.reportlinker.com/p06428233/?utm_source=GNW
Pet DNA Testing Market Growth & Trends
The global pet DNA testing market size is expected to reach USD 640.24 million by 2030., registering a CAGR of 9.20% from 2023 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%.
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 amountson 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%
Pet DNA Testing Market Report Highlights
• The dogs animal type segment accounted for the largest revenue share in 2022 due to the high adoption of dogs in the U.S.
• The saliva sample type segment held the largest share in 2022 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 segmentled the industry in 2022. 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 accountedfor the largest revenue share in 2022 while Asia Pacific is expected to grow at the fastest CAGR from 2023 to 2030
Read the full report: https://www.reportlinker.com/p06428233/?utm_source=GNW
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