South & Central America Pet ID Microchips Market

Historic Data: 2020-2021   |   Base Year: 2022   |   Forecast Period: 2023-2028

Analysis– By Pet Type (Horses, Dogs, Cats, and Others) and End User (Breeders, Households, Pet Shops, and Others)


No. of Pages: 92    |    Report Code: BMIRE00028118    |    Category: Electronics and Semiconductor

South & Central America Pet ID Microchips Market
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The South & Central America pet ID microchips market is expected to grow from US$ 4.24 million in 2022 to US$ 5.66 million by 2028. It is estimated to grow at a CAGR of 4.9% from 2022 to 2028.

 

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 Revenue and Forecast to 2028 (US$ Million)

South & Central America Pet ID Microchips Market Revenue and Forecast to 2028 (US$ Million)
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South & Central America Pet ID Microchips Strategic Insights

Strategic insights for the South & Central America Pet ID Microchips provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

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South & Central America Pet ID Microchips Report Scope

Report Attribute Details
Market size in 2022 US$ 4.24 Million
Market Size by 2028 US$ 5.66 Million
Global CAGR (2022 - 2028) 4.9%
Historical Data 2020-2021
Forecast period 2023-2028
Segments Covered By Pet Type
  • Horses
  • Dogs
  • Cats
By End User
  • Breeders
  • Households
  • Pet Shops
Regions and Countries Covered South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Market leaders and key company profiles
  • Avid Identification Systems Inc
  • Elanco Animal Health Inc
  • Merck & Co Inc
  • Trovan Ltd
  • Virbac SA
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    South & Central America Pet ID Microchips Regional Insights

    The geographic scope of the South & Central America Pet ID Microchips refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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    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.

    The List of Companies - South & Central America Pet ID Microchips Market

    1. Avid Identification Systems Inc
    2. Elanco Animal Health Inc
    3. Merck & Co Inc
    4. Trovan Ltd
    5. Virbac SA
    Frequently Asked Questions
    How big is the South & Central America Pet ID Microchips Market?

    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.

    What is the CAGR for South & Central America Pet ID Microchips Market by (2022 - 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.

    What segments are covered in this report?

    The South & Central America Pet ID Microchips Market report typically cover these key segments-

    • Pet Type (Horses, Dogs, Cats)
    • End User (Breeders, Households, Pet Shops)

    What is the historic period, base year, and forecast period taken for South & Central America Pet ID Microchips Market?

    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:

  • Historic Period : 2020-2021
  • Base Year : 2022
  • Forecast Period : 2023-2028
  • Who are the major players in South & Central America Pet ID Microchips Market?

    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:

  • Avid Identification Systems Inc
  • Elanco Animal Health Inc
  • Merck & Co Inc
  • Trovan Ltd
  • Virbac SA
  • Who should buy this report?

    The South & Central America Pet ID Microchips Market report is valuable for diverse stakeholders, including:

    • Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
    • Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
    • Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
    • Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
    • Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.

    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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