According to the most recent analysis by Emergen Research, the market for animal microchip implants reached USD 483.2 Million in 2022 and is anticipated to grow at a revenue CAGR of 9.4% over the projected period. Key factors driving industry growth are growing awareness about the benefits of animal identification, increasing prevalence of pet adoption, and technological advancements in RFID-based products.
The implanted microchip is a safe and long-term solution for identifying animals. They are mostly composed of silicon carbide or glass, containing information about the owner such as name, address and contact number. This technology has significantly improved the tracking of lost pets and enables owners to quickly retrieve their animals. Moreover, the growing trend of animal adoption has further driven demand for animal microchip implants.
The current pandemic is expected to drive market growth over the forecast period as there is an increased awareness about pet identification and its benefits. Furthermore, governments in different countries have enforced laws that make microchip implants mandatory for various species of animals. As a result, the animal microchip implant market is expected to witness notable growth over the coming years.
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The animal microchip implant market is one of the fastest-growing segments in the pet identification industry. It offers a safe, reliable, and affordable way to keep track of and protect pets from being lost or stolen. Microchipping provides an electronic form of lifelong identification that can be used to reunite a pet with its owner if it goes missing.
The animal microchip implant market offers a variety of products designed to meet the needs of pet owners. The chips are typically small, about the size of a grain of rice, and can be implanted with a simple injection in just seconds. The information stored on the chip includes contact details for the owner as well as pertinent medical history and vaccination records. This information can be accessed quickly and easily with a handheld scanner, making it possible to rapidly reunite lost pets with their owners.
The animal microchip implant market is projected to continue to grow as more pet owners seek out ways to protect their animals from theft or loss. As technology advances, so too do the products available in this market. Some implant makers are even beginning to offer GPS capabilities, allowing owners to track their pet’s location in real time. This technology can provide additional peace of mind for pet owners and help ensure that lost pets make it home safely.
Some Key Highlights From the Report
- The major market players operating in the global Animal Microchip Implant market include Bayer Animal Health, Digital Angel Corporation, Trovan Limited, Destron Fearing Corporation, Avid Identification Systems Inc., Allflex USA Inc., Datamars SA and other. The market is highly competitive due to the presence of large number of players competing in terms of product quality and features offered.
- The companies are focusing on product launches, acquisitions and collaborations to gain competitive advantage in the market. For instance, in 2020, Bayer AG announced the launch of its new animal health product line named ‘Bionote’. It is an integrated digital solution that offers remote monitoring and tracking of livestock using innovative electronic identification (EID) tags. The Bionote system combines Bluetooth-enabled ear tags with a mobile app and web portal to enable producers to monitor the health and well-being of their livestock from anywhere. Additionally, in 2020, Elanco Animal Health Incorporated, a subsidiary of Eli Lilly & Co., acquired the animal health business of Boehringer Ingelheim. This acquisition enabled Elanco to expand its presence in the companion animal market segment by adding products such as vaccines, parasiticides and anti-infectives.
- Similarly, in 2020, Avid Identification Systems Incorporated entered into a strategic partnership with Allflex Group to jointly develop and launch microchip products for companion animals. This collaboration enabled Avid to provide traceability solutions using its Digital Angel technology and RFID chips by leveraging the manufacturing capabilities of Allflex.
- In terms of product type, passive RFID chips are estimated to account for the largest share in 2022 due to their low-cost and ease of use compared to active RFID chips. Moreover, the introduction of advanced and more efficient products is expected to propel market growth over the forecast period.
- The self-injectable segment accounted for largest revenue share in the global screen writing and annotation software market in 2021 due to the rising use of animal microchip implants for pet identification, tracking and the prevention of theft. This trend is further driven by increasing awareness among pet owners about the benefits of microchipping their pets.
- The veterinary hospitals segment accounted for largest revenue share in the global screen writing and annotation software market in 2021 due to the increasing demand for pet microchipping and other animal tracking services. Veterinary hospitals are increasingly adopting advanced technologies such as microchip implant systems to improve the accuracy of their identification services and reduce the burden of manual data entry. The growing prevalence of pet theft, lost pets, and stray animals is also expected to drive market growth in this segment.
- Geographically, North America is projected to lead the animal microchip implant market in 2022 due to increasing investments in pet care activities, rising awareness among pet owners about animal identification technology, and favorable government regulations regarding the implementation of animal microchip implants. The Asia Pacific is expected to witness the highest growth rate due to increasing adoption of pets and growing awareness about pet identification technology in countries such as China, Japan, India, and South Korea.
Emergen Research has segmented the global Animal Microchip Implant market on the basis of product type, mode, distribution channel, and region:
- 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
- Regional Outlook (Revenue, USD Million; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA