FMI's Insight: Pet DNA Testing Market Expected to Hit US$839.84 Million by 2033, Growing at 9.1% CAGR

The Pet DNA Testing Market is anticipated to expand its roots at a steady CAGR of 9.1% between 2023 and 2033. The market is anticipated to cross a market share of US$ 839.84 million by 2033 while it is likely to be valued at US$ 351.52 million in 2023.

Increased adoption of dogs and cats post-pandemic along with people treating their pets as family members is fueling the demand for pet DNA testing solutions. Furthermore, the higher veterinary budget is also expanding the research and development facilities.
Expanding breeding businesses and end users buying dogs of foreign breeds. Moreover, conducting breed origin tests is also fueling the demand for pet DNA tests. Apart from the breed identification possible genetic threats could also be found through the test.
The integration of veterinary technology with the digitization of veterinary healthcare along with dog breed tests.
People are curious to know more about their pets, ancestral history, and characteristics. These details optimize their diet regime and exercise which fuels the sales of pet DNA tests.

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>Key Points:

-The United States market leads the pet DNA testing market in terms of market share in North America. The North American market held a market share of 35.0% in 2022. The market growth is attributed to the increase in pet care units and pet humanization.
-The United Kingdom pet DNA testing market is another significant market from the European region. Regional growth is attributed to government efforts and, advancements in pet genetics technology.
-The Chinap pet DNA testing market is anticipated to thrive at a healthy CAGR during the forecast period. The growth is owed to increased pet adoption, advanced DNA testing, and expanding breeding business.
-By test type, the genetic diseases segment held a share of 35.0% in 2022. This is due to the increased amount of information and potential health threats.

>Competitive Landscape:

The key vendors work on producing pet DNA testing solutions with higher accuracy, small diagnostics time, and affordable pricing. The market players also focus on creating easy-to-use products. Key competitors are indulged in mergers, acquisitions, and partnerships to increase their supply chain and distribution channel. The key players in the market are Wisdom Panel (Mars, Inc.); Embark Veterinary, Inc.; Dognomics (Clinomics); Basepaws, Inc. (Zoetis); and NeoGen Corp.

>Recent Market Developments:

-Wisdom Panel introduced a `wisdom panel dog DNA test for breed detection. The test delivers information such as the dog's color, strength, energy, and fur.
-Embark Veterinary launched tests involving breed identification, health and wellness tests, and faster test results.
-Dognomics dog DNA tests have eased their testing procedures with three simple steps: sign up, swab, and send. While swabbing takes 5-10 secs, the company has free shipping in the United States.

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>Market Segmentation:

>Animal Type Outlook:

-Dogs
-Cats

>Sample Type Outlook:

-Blood
-Saliva
-Semen
-Others

>Test Type Outlook:

-Breed Profile
-Genetic Diseases
-Health & Wellness

>End User Outlook:

-Pet Owners
-Breeders
-Veterinarians

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>Key Regions Covered:

>North America
-United States
-Canada
>Latin America
-Brazil
-Mexico
-Rest of Latin America
>Europe
-Germany
-United Kingdom
-France
-Spain
-Russia
-Rest of Europe
>Japan
>Asia Pacific Excluding Japan
-China
-India
-Malaysia
-Singapore
-Australia
-Rest of APEJ
>The Middle East and Africa
-GCC Countries
-Israel
-South Africa
-Rest of the Middle East and Africa

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.