Overview and Scope
Pet cloning is a biotechnological process that involves creating a genetically identical copy of a pet animal. This is typically achieved through somatic cell nuclear transfer (SCNT), where the nucleus of a donor cell is transferred into an egg cell that has had its nucleus removed. The resulting embryo is then implanted into a surrogate mother to develop into a cloned pet with identical genetic makeup to the original animal.
Sizing and Forecast
The pet cloning market size has grown rapidly in recent years. It will grow from $3.25 billion in 2023 to $3.74 billion in 2024 at a compound annual growth rate (CAGR) of 15.4%. The growth in the historic period can be attributed to a rise in demand for pet preservation, successful cloning of livestock, increasing disposable income, pet humanization trend, and growing pet population.
The pet cloning market size is expected to see rapid growth in the next few years. It will grow to $6.66 billion in 2028 at a compound annual growth rate (CAGR) of 15.5%. The growth in the forecast period can be attributed to personalized pet cloning services, increasing awareness about cloning possibilities, growing interest in genetic preservation, improved cloning success rates, and celebrity endorsements. Major trends in the forecast period include growth in luxury pet services, development of pet cloning regulations, advancements in cloning accuracy, partnerships with veterinary clinics, and integration of artificial intelligence in cloning.
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Segmentation & Regional Insights
The pet cloning market covered in this report is segmented –
1) By Product Or Type: Deceased Pet Cloning, Alive Pet Cloning
2) By Technique: Somatic Cell Nuclear Transfer, Gene Editing, Other Techniques
3) By Application: Dogs, Cats, Horses, Birds, Reptiles, Other Applications
4) By End-User: Pet Owners, Research Institutes, Breeding Centers, Zoos, Conservation Programs
North America was the largest region in the pet cloning market in 2023. The regions covered in the pet cloning market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising pet ownership rates are expected to propel the growth of the pet cloning market going forward. Pet ownership refers to the responsibility and care taken by individuals or households in providing for the needs, well-being, and companionship of domesticated animals kept primarily for pleasure rather than utility. The rising pet ownership rates are due to factors such as lifestyle changes, the humanization of pets, and higher disposable incomes. Pet cloning offers pet owners the opportunity to preserve the genetic identity of beloved animals, potentially providing comfort and continuity in the companionship experience. For instance, in October 2023, according to the American Pet Products Association, a US-based non-profit association, there were 86.9 million US households that owned a pet, which is 66% of households in 2022. Additionally, in November 2022, according to Animal Medicines Australia, an Australia-based association representing animal health, 69% of households owned pets in Australia. Therefore, the rising pet ownership rates are driving the growth of the pet cloning market.
Key Industry Players
Major companies operating in the pet cloning market are Trans Ova Genetics, Genetix Biotech Asia Pvt. Ltd., PPL Therapeutics, VectorBuilder Inc., Sinogene Pet Cloning, ViaGen LC, BioArts International, Boyalife Group, Cuddle clones, Gemini Genetics, PERPETUATE INC, Sooam Biotech, Oak Villlage Animal Hospital, Bella Vista Animal Hospital, BioVenic, Cyagra LLC, Embryll Life Sciences, My friend Again, Petslify, RNL Bio
The pet cloning market report table of contents includes:
1. Executive Summary
2. Pet Cloning Market Characteristics
3. Pet Cloning Market Trends And Strategies
4. Pet Cloning Market – Macro Economic Scenario
5. Global Pet Cloning Market Size and Growth
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32. Global Pet Cloning Market Competitive Benchmarking
33. Global Pet Cloning Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Pet Cloning Market
35. Pet Cloning Market Future Outlook and Potential Analysis
36. Appendix
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