Pet Genetic Test Market Scope
Pet Genetic test is a type of medical examination that detects changes in genes, chromosomes, or proteins. A genetic test's results can confirm or rule out a suspected genetic condition, as well as help determine a pet’s risk of developing or passing on a genetic disorder. A pet genetic test allows to learn more about your pet's genetics. These tests can tell you if pet is likely to be affected by specific conditions or if they will pass on the genes associated with these conditions if bred from.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Neogen Corporation (United States), Genus (United Kingdom), URUS (United States), EW Group (Germany), Groupe Grimaud (France), CRV Holding (Netherlands), Topigs Norsvin (Netherlands), Zoetis (United States), Envigo (United States) and Hendix Genetics (Netherlands) |
CAGR | 9.1% |
The pet genetics test market is moderately competitive, with only a few major players. Neogen Corporation, Genus, URUS, EW Group, Groupe Grimaud, CRV Holding, Topigs Norsvin, Zoetis, Envigo, Hendix Genetics, and Animal Genetics. To secure their positions in the competitive landscape, the companies are evolving through various strategies such as acquisitions, collaborations, and product launches, as well as investment in research and development activities. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Pet Genetic Test market throughout the predicted period.
Neogen Corporation (United States), Genus (United Kingdom), URUS (United States), EW Group (Germany), Groupe Grimaud (France), CRV Holding (Netherlands), Topigs Norsvin (Netherlands), Zoetis (United States), Envigo (United States) and Hendix Genetics (Netherlands) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Animal Genetics (United States), VetGen (United States), DanBred (Denmark) and Others.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Pet Genetic Test market by Type and Region with country level break-up.
On the basis of geography, the market of Pet Genetic Test has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
On 10th December 2021, NEOGEN Corporation announced the acquisition of Genetic Veterinary Sciences, Inc. (GVS). GVS is a companion animal genetic testing company that focuses on providing genetic information for dogs, cats, and birds to pet owners, breeders, and veterinarians. Paw Print Genetics, Canine HealthCheck, My CatScan, and AvianDx are some of their brands.
On 12th May 2020, Wisdom Health Genetics, the global leader in pet genetics and creators of the Wisdom Panel dog DNA tests, has announced the release of two new and improved dog DNA tests: the Wisdom Panel Essential test and the Wisdom Panel Premium test. The Wisdom Panel Essential test is designed for pet parents who have recently adopted a puppy or a new dog, providing breed, traits, and 25+ actionable health tests to assist you and your veterinarian in managing your dog's medical care.
CMS implements regulations to control the analytical validity of clinical genetic tests, but there is no federal oversight of most genetic tests' clinical validity. In light of this, the FDA has proposed new policies to strengthen analytical validity regulation and expand oversight of genetic test clinical validity. Although neither agency has issued formal plans to regulate the clinical utility of genetic tests, health care insurers such as CMS typically rely on data from the research and medical communities to determine the clinical utility of medical treatments and procedures.
Influencing Trend:
An Increasing Number of Kidney Diseases That Drive the Growth of the Market, Increased Utilization of Diagnostic Pet Genetic Testing In Nephrology and Technological advancements in DNA sequencing techniques and increasing research & development
Market Growth Drivers:
Increasing demand for Pet Genetic Test and Consumption of Animal Protein and Dairy Products Is Increasing
Challenges:
Specific Breeding Programmed For Breeds With Poor Economic Performance Are Required
Restraints:
The Rise of Alternatives Such As Lab-Grown Meat and Medical Risk, High Blood Pressure, Heart Conditions, Pain, Fluid in the Joints, Or Stiffness Are All Factors That Are Impeding Market Growth
Opportunities:
In Developing Countries, There Is Untapped Market Potential
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Suppliers, Healthcare Industry, Clinic Centers, Government Bodies, End-Users and Others