Dog Microchip Market is expected to grow at a CAGR of 8.1% during the forecasted period | Evolve Business Intelligence

Key Highlights:
• The global Dog Microchip Market size was valued at USD 500.1 million in 2023 growing at a CAGR of 8.1% from 2023 to 2033.
• North America dominated the market in 2023
• Asia Pacific is expected to grow at the highest CAGR from 2023 to 2033

As per the study initiated by Evolve Business Intelligence, the global Dog Microchip Market size accounted for USD 500.1 Million in 2023, growing at a CAGR of 8.1% from 2023 to 2033. A dog microchip is a small electronic device that is implanted under the skin of a dog. It contains a unique identification number that can be scanned by a microchip reader. This technology is commonly used for pet identification and is an important tool for reuniting lost or stolen dogs with their owners.

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Dog owners use microchips as a reliable method of identifying their pets. This is especially crucial if a dog goes missing or is stolen. Microchips help in reuniting lost dogs with their owners and preventing illegal activities such as pet theft. In some regions, there are regulations and laws requiring pet owners to microchip their dogs. This has contributed to the growth of the market as more owners comply with legal requirements. Advances in microchip technology, such as smaller and more efficient chips, have improved the overall performance of dog microchips. These advancements enhance the reliability and ease of use of the technology, driving market growth. Pet owners are becoming more aware of the benefits of microchipping for the safety of their dogs. Education and awareness campaigns by veterinary professionals, animal shelters, and pet advocacy groups contribute to the market growth.

Key Players
Some of the major Dog Microchip Market players holding high market shares include Pethealth, HomeAgain, Bayer, and AVID Identification Systems. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include Datamars, Trovan, Virbac, Animalcare, Microchip4Solutions, PeddyMark, EIDAP, Micro-ID, and Cybortra Technology

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Segmental Analysis
Based on Type, the Dog Microchip market is a 125 kHz Microchip, 128 kHz Microchip, and 134.2 kHz Microchip. The 128 kHz microchip is the most widely used type of dog microchip due to its compatibility with a wide range of scanners and its relatively low cost. It is also the most widely accepted standard for dog microchips, which makes it a popular choice for pet owners and veterinarians.
Based on the Application, the Dog Microchip market is Pet Dog, Security Dog, and Others. The pet dog segment is the largest application segment for dog microchips due to the growing popularity of pet ownership and the increasing awareness of the benefits of microchipping. Microchipping can help to reunite lost pets with their owners and can also be used to track stolen dogs.

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

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