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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What are the Major Drivers Boosting the Demand for Animal Microchip Implant Market?
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.
Which Region Shows Strong Growth Potential in the Animal Microchip Implant Market?
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.
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Who are the Key Manufacturers in the Animal Microchip Implant Market?
Armstrong Medical, GE Healthcare, Besmed Health Business, Smiths Medical, Sturdy Industrial, VBM, Hamilton Medical AG, Intersurgical, Medline Industries, and Medizintechnik.
Scope of Report
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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Key Segments Covered in the Animal Microchip Implant Market Survey
By Product Type:
Animal ID Microchip
Reusable Pet Tracking Microchip
Transponder Microchip
Others
By Mode:
Self-injectable
Surgery-injectable
By Distribution channel:
Veterinary Hospitals
Veterinary Clinics
Veterinary Pharmaceutical Store
Online Store
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
The Middle East and Africa (MEA)
Frequently Asked Questions
What is the Growth Outlook for the Global Animal Microchip Implant Market?
The global animal microchip implant market is anticipated to register a CAGR of 5.2% during the forecast period.
Who are the Prominent Players in the Animal Microchip Implant Market?
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.
