The study further explores and provides an in-depth analysis of current market dynamics and recent trends, focusing on various key factors and potential growth opportunities and risks. The report focuses on leading regions and their major countries to anticipate market growth in the forecast years.
The global Animal Microchip Implantable market size reached USD 483.2 Million in 2022 and is expected to register a revenue CAGR of 9.4% during the forecast period, according to the latest analysis by Emergen Research. According to the American Pet Products Association (APPA), in 2021, an estimated 70% of households in the U.S. own a pet, which is up from 56% in 1988. The most popular pets in the U.S. are dogs, with an estimated 60.2 million households owning at least one, followed by cats, with 47.1 million households owning at least one. The number of microchipped animals is increasing as more individuals acquire pets. Microchipping is not only recommended for pet owners, but it is also a way to ensure that animal welfare organizations and the government can track the population of animals, enforce regulations regarding pet travel and animal welfare, and also ensure that the pet is healthy and safe.
There are a few restraining factors that may affect adoption and use of animal microchips. One of the main factors is specificity and reliability of this implantable device. According to American Humane Association, approximately ten million pets are either stolen or lost in the U.S. every year, with one in three pets becoming lost at some point in their lives. Dog microchips typically cost between USD 25 and USD 60. This device is reasonably priced, but prices may vary depending on the model and procedure.
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Market Scope: The report explains the scope of various commercial possibilities in the global Animal Microchip Implant market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.
Competitive Outlook: The leading companies operating in the Animal Microchip Implant market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
The leading market contenders listed in the report are:
Datamars, Virbac, Microchip4Solutions Inc, Peddymark Ltd, DooWa Technology Co. Ltd, Pet-ID Microchips Ltd, Avid Identification Systems, Inc., Jeffers Pet, Merck & Co., Inc., Trovan Ltd.
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Market Segmentations of the Animal Microchip Implant Market
Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Animal Microchip Implant market on the basis of product, application, and region:
Segments Covered in this report are:
- Product Type Outlook (Revenue, USD Million; 2019-2032)
- Animal ID Microchip
- Reusable Pet Tracking Microchip
- Transponder Microchips
- Others
- Mode Outlook (Revenue, USD Million; 2019-2032)
- Self-injectable
- Surgery-injectable
- Distribution Channel Outlook (Revenue, USD Million; 2019-2032)
- Veterinary Hospitals
- Veterinary Pharmaceutical Stores
- Others
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Regional Outlook of the Animal Microchip Implant Market
The global Animal Microchip Implant market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In this section, authors of the report have studied the presence of the global Animal Microchip Implant market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.
Key reasons to buy the Global Animal Microchip Implant Market report:
- The latest report comprehensively studies the global Animal Microchip Implant market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products & services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
In conclusion, the Animal Microchip Implant Market report is an exhaustive database that will help readers formulate lucrative strategies. The Animal Microchip Implant Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
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