Customized Offerings in Pet ID Microchips is Driving the South & Central America Pet ID Microchips Market
Microchip placement in pet animals has gained widespread acceptance across the region. There is an increasing demand for customized pet ID microchips with exact alpha-numeric identification codes of up to 15 characters. Each microchip is securely encrypted and customized according to owner’s requirements in terms of the radio frequencies, licensing, and unique ID number of the chip. Furthermore, microchips are tiny and durable, designed to last and function in any circumstance. Furthermore, with different countries' ISO standards for animal identification, pet owners demand customized ISO-compatible microchips for their pets. MICROCHIP ID SYSTEMS, INC., a manufacturer of ISO-certified microchips that are humanely and safely implanted in pets, has designed a special “EquineChip” for equestrians who need to make sure their horses are in perfect shape for upcoming races and games. As a result, the rising demand for customized pet ID microchips bolsters the South & Central America pet ID microchips market growth during the forecast time.
South & Central America Pet ID Microchips Market Overview
The SAM region consists of several developing economies, such as Brazil, Argentina, and Chile. According to the Datamars, more than 57 million pet dogs and ~26 million pet cats are in Brazil. Although pet microchipping is not required in Brazil, every year, approximately one million animals are implanted with a microchip by their owners. Similarly, pet microchipping is also not mandatory in Argentina. However, if shipping pets or traveling with pets to Argentina, it is mandatory that a 15-digit ISO-compliant pet microchip should be implanted in the pet. Also, as pet microchips help owners reunite with their pets when lost, their adoption in the country is increasing. In addition, a pet microchip carries the medical information of the pet, which is further raising the demand for pet ID microchips in the South & Central America market. Thus, all the above factors are fuelling the South & Central America pet ID microchips market growth during the forecast time.
South & Central America Pet ID Microchips Market Segmentation
The South & Central America pet ID microchips market is segmented into pet type, end user, and country.
Based on pet type, the South & Central America pet ID microchips market is segmented into horses, dogs, cats, and others. The dogs segment held the largest market share in 2022.
Based on end user, the South & Central America pet ID microchips market is segmented into breeders, households, pet shops, and others. The others segment held the larger market share in 2022.
Based on country, the South & Central America pet ID microchips market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the market share in 2022.
Avid Identification Systems Inc; Elanco Animal Health Inc; Merck & Co Inc; Trovan Ltd; and Virbac SA are the leading companies operating in the South & Central America pet ID microchips market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 4.24 Million |
| Market Size by 2028 | US$ 5.66 Million |
| CAGR (2022 - 2028) | 4.9% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Pet Type
|
|
Regions and Countries Covered
|
|
| South and Central America | Brazil, Argentina, Rest of South and Central America |
| Market leaders and key company profiles |
|
The South & Central America Pet ID Microchips Market is valued at US$ 4.24 Million in 2022, it is projected to reach US$ 5.66 Million by 2028.
As per our report South & Central America Pet ID Microchips Market, the market size is valued at US$ 4.24 Million in 2022, projecting it to reach US$ 5.66 Million by 2028. This translates to a CAGR of approximately 4.9% during the forecast period.
The South & Central America Pet ID Microchips Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South & Central America Pet ID Microchips Market report:
The South & Central America Pet ID Microchips Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South & Central America Pet ID Microchips Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South & Central America Pet ID Microchips Market value chain can benefit from the information contained in a comprehensive market report.
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