PET ID MICROCHIPS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Regional Analysis

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North America has dominated the global pet ID microchips market with an estimated 40.8% share in 2024. The region has a highly developed pet healthcare industry with high owner expenditure on pet care. Many countries in North America have laws that either mandate or encourage pet identification through microchipping. This has ensured widespread adoption of microchips among pet owners in the region.

The presence of industry giants like AVID Identification Systems and Home Again bolsters the North American microchipping industry. These companies invest heavily in research and development to introduce new and enhanced microchips. They also spend substantially on marketing their products, educating pet owners and veterinarians about benefits of identification. This has further augmented microchip usage over the years. In addition, the pricing of pet microchips is most competitive in North America due to intense competition among manufacturers. This makes microchipping affordable for majority of pet owners.

Among regions, Asia Pacific is poised to grow the fastest in the global pet ID microchips market over the coming years. Pet ownership is escalating in the Asian middle class with rising incomes and changing lifestyles. Many Asian nations like China and India now have a substantial population of companion animals. At the same time, awareness about pet identification through microchips is widening due to the influx of international pet service brands. The microchipping industry stands to benefit from these favourable trends. Also, several Asian governments have shown inclination towards mandating permanent pet ID in response to rising concerns over owner accountability and animal welfare.