PRESS RELEASE
Posted on March 8, 2023
New Jersey, United States- The 2023-2030 market research report is an in-depth analysis of the global Pet microchip market. Based on the analysis of historical growth and current scenario of the Pet Microchips market, the report aims to provide useful information on the growth projections of the global market. The authenticated data presented in the report is based on the results of extensive primary and secondary research. The insights extracted from the data serve as excellent tools that facilitate a deeper understanding of multiple aspects of the global pet microchip market. This helps users with their development strategy.
The global pet microchip market is expected to be valued at USD 565.9 million by 2030 and grow at a CAGR of 4.3% during the forecast period 2022-2030.
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What is Pet Microchip Market Overview?
A microprocessor is a tiny electronic device, barely larger than a grain of rice. Pet microchips are usually 11-13mm long and 2mm in diameter. The tiny electronics consist of a copper coil antenna and a chip measuring at least two millimeters. These components are encapsulated in biocompatible polymer or glass, which allows the microchip to be safely implanted in an animal. The microchip is implanted under the loose skin between the pet’s shoulder blades using a sterile syringe. The vet or RVT performs the implantation procedure, which is extremely short and comparable to vaccination. Often, animals don’t even notice when they are cut. The microchip is a passive transponder with no internal power supply. Therefore, it cannot be moved and can only be activated by a signal from an external device.
Who are the main key players in the Pet Microchips market?
Pethealth Inc., HomeAgain, Bayer, AVID Identification Systems, Datamars, Inc., Trovan, Ltd., Virbac, Animalcare, Ltd., Microchip4Solutions Inc., PeddyMark, EIDAP Inc., Micro-ID, Ltd., Cybortra Technology., And others.
Significant market dynamics:
The global canine microchip market is expected to expand as a result of technological advancements and numerous product innovations. Chip manufacturers have made significant strides in improving chip functionality. For example, some microchips are programmed to unlock the door only when the microchip companion approaches. This prevents stray dogs and other animals from entering residences. In addition, some companies offer lost pet alert services and travel assistance for tourists who have pets.
What is the most potential pet microchip market segment?
Pet Microchip Market by Type:
- 125 kHz microchip
- 128 kHz microchip
- 134.2 kHz microchip
Pet Microchips Market by Applications:
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Which region dominated the pet microchip market?
North America holds the largest share of the global pet microchip market. The market in the region is expanding as more and more people spend money on canines and tech-savvy pet owners demand more and more advanced technology for their animals. According to the American Pet Products Association, the US pet industry was valued at $66.75 billion in 2016 and is expected to reach $69.36 billion in 2017. In North America, the US is the market leader for microchips for pets due to the increasing increase. number of missing pets.
In the coming years, the Asia-Pacific region is expected to expand at the fastest rate. This pet microchip market is expanding as more people in countries like China, Australia and India acquire canines and become health conscious.
geographicallythis report is segmented into several key Regions, with production, consumption, revenue (million USD), and market share and growth rate of Pet microchip market these regions, from 2020 to 2026 (forecast), covering
North America, europe, china, Japan, Southeast Asia, India, North America (USA, Canada and Mexico) europe (Germany, France, United Kingdom, Russia and Italy) Asia-Pacific (China, Japan, Korea, India and Southeast Asia) South America (Brazil, Argentina, Colombia, etc.), Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, Nigeria and South Africa).
- Historical years: 2017-2021
- Base year: 2022
- Estimated year: 2022
- Forecast period: 2023-2030
What is the main purpose of the report?
The global pet microchip market report provides a comprehensive assessment of the market for the forecast period (2022-2030). The report includes various segments as well as an analysis of the trends and factors that play an important role in the market. The growth of pet microchips market report depends on product application, type, technology, and region. An expanded view of regional analysis aims to bring readers closer to market opportunities and risks. It also examines economic scenarios with the impact of Covid-19 analysis that is expected to grow the market on a large and small scale.
Strategic points covered in the table of contents of Pet Microchip Market:
Chapter 1: Introduction
Chapter 2. Executive summary
Chapter 3. Sector perspectives
3.1. Global Pet Microchip Market Segmentation
3.2. Global Pet Microchip Market Size and Growth Prospects, 2015-2026
3.3. Value Chain Analysis of the Global Pet Microchip Market
3.3.1. Seller landscape
3.4. regulatory framework
3.5. Market dynamics
3.5.1. Analysis of market drivers
3.5.2. Market constraint analysis
3.6. Porter’s analysis
3.6.1. Threat of new entrants
3.6.2. Bargaining power of buyers
3.6.3. Bargaining power of buyers
3.6.4. Threat of substitutes
3.6.5. Internal rivalry
3.7. PESTEL analysis
Chapter 4. Global Pet Microchips Product Outlook
Chapter 5. Global Pet Microchip Market Application Outlook
Chapter 6. Global Pet Microchip Market Geography Outlook
6.1. Share of Pet Microchip Industry, by Geography, 2022 and 2030
6.2. North America
6.2.1. Pet Microchip Market Estimates and Forecast 2022-2030, by Product
6.2.2. Pet Microchip Market 2022-2030 Estimates and Forecast, by Application
6.2.3. The USA
6.2.4. canada
6.3. europe
6.3.3. Germany
6.3.4. the united kingdom
6.3.5. France
Chapter 7. Competitive landscape
Chapter 8. Appendix
Customizing the report: This report can be customized to your needs for additional data from up to 5 companies or 5 countries or nearly 40 analyst hours.
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