The global animal microchip implant market was valued at around US$ 619.54 Million at the end of 2021. The market is projected to register a 5.2% CAGR and top a valuation of US$ 1,048.57 Million by 2032.
Growing awareness amongst people about animal microchip and its advantages such as easy, safe, effective method for searching the pet is supposed to boost the market’s growth.
An innovative solution for tracking pets and other health issues in animals is the implant of a microchip. In order to reduce pet animal loss, microchips are implanted in companion animals and used to track their movements. A microchip implant is a tiny gadget that may be inserted beneath a pet's skin and serves as the pet's unique identifier by storing all of the pet's data.
Pets with microchip implants contain all the essential information, including the owner's name, address, and important information with past and present medical histories. A database may be searched using the 15-digit number on microchips to find all the important and minor information about a pet.
The locations of a pet are made available in real time. There are two different kinds of microchip implants on the market. The second is available as self-installed injectable microchips, while the first, surgery-injectable implants, must be implanted by veterinary surgeons. There are numerous tags that may be used on pets and can be attached to other parts of the animal than the neck.
In addition to being implanted with microchips, farm animals are also doing so to track information about the farm or the owner as well as to monitor the actions of the farm animals. This information includes vital signs, health-related data, and other information.
| Attributes | Details |
|---|---|
| Animal Microchip Implant Market Value in 2021 | US$ 619.54 Million |
| Animal Microchip Implant Market Value in 2032 | US$ 1,048.57 Million |
| Animal Microchip Implant Market CAGR (2022 to 2032) | 5.2% |
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As pet adoption rates rise and pet owners become more knowledgeable about the technology, the market for animal microchip implants is predicted to expand significantly over the course of the forecast period. A database of all animals, including farm and domestic animals, is being built by participants like Wuxi Fofia Technology Co., Ltd. and Autag Technology Europe BV.
A significant factor in the rise of implanted animal microchips worldwide is technological development.
North America dominated the regional animal microchip implant market this can be attributed to the region’s increased pet adoption. For instance, according to American Society for the Prevention of Cruelty to Animals a non-profit organisation, about 6.3 million companion animals are entering USA animal shelters, in which 3.1 million are dogs and 3.2 million are cats.
Moreover, Asia Pacific is supposed to grow fastest over the forecast period as veterinary technology is being introduced more frequently and microchips are used to monitor and control animals.
Principal Consultant
Armstrong Medical, GE Healthcare, Besmed Health Business, Smiths Medical, Sturdy Industrial, VBM, Hamilton Medical AG, Intersurgical, Medline Industries, and Medizintechnik.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 5.2% 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2012 to 2021 |
| Forecast Period | 2022 to 2032 |
| Qualitative Units | Revenue in USD Million, Volume in Units, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segment Covered | Product Type, Mode, Distribution channel, Region |
| Region Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East & Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Argentina, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Australia, New Zealand, GCC, South Africa, North Africa, Turkey |
| Key Players | Armstrong Medical; GE Healthcare; Besmed Health Business; Smiths Medical; Sturdy Industrial; VBM; Hamilton Medical AG; Intersurgical; Medline Industries; Medizintechnik |
| Customization | Available Upon Request |
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The global animal microchip implant market is anticipated to register a CAGR of 5.2% during the forecast period.
Armstrong Medical, GE Healthcare, Besmed Health Business, Smiths Medical, Sturdy Industrial, VBM, Hamilton Medical AG, Intersurgical, Medline Industries, and Medizintechnik, among others are some prominent animal microchip implant market players.
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Animal Microchip Implant Market
