Animal Microchip Implant Market to Undertake Strapping Growth During 2018 - 2028
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Animal Microchip Implant Market: Drivers and Restraints
The animal microchip implant market is pegged to witness significant growth over the forecast period as pet adoptions are increasing and pet owners are becoming more aware regarding the technology. Players such as Wuxi Fofia Technology Co., Ltd, and Autag Technology Europe BV are creating a database of all animals, including pets and farm animals. Technological advancement is a major contributor to the increase in the number of animal microchip implants across the globe. On the other hand, lack of focus in veterinary health expenditure, lack of awareness regarding implant use and process to implant inside or outside the animals and others factors are expected to hinder the growth of the market.
Animal Microchip Implant Market: Segmentation
The animal microchip implant market can be segmented on the basis of the following parameters:
Animal ID Microchip
Reusable Pet Tracking Microchip
Veterinary Pharmaceutical Store
Animal Microchip Implant Market: Overview
The animal microchip implant market is primarily driven by increasing pet adoption and awareness about animals. Animals are well managed with the help of microchip implants, which provide all the necessary details needed by animal owners. This has resulted in an increase in the number of microchip implants in animals. Other factors leading to the growth of the animal microchip implant market include the increasing number of animal management systems in farms and individual animal owners.
Animal Microchip Implant Market: Region-wise Outlook
Geographically, the animal microchip implant market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, Middle East and Africa. North America is the major market for animal microchip implants as animal health expenditures in the region are relatively high as compared to other regions. Additionally, pet adoption is increasing among the population and individuals are aware of veterinary health managements with animal monitoring. Europe and Asia Pacific are growing markets for animal microchip implants as microchips help monitor and manage animals and the introduction of new veterinary technology is increasing in these regions. The MEA region is also focusing on animal management and protection.
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Animal Microchip Implant Market: Key Players
Some of the players identified in the animal microchip implant market include Zee Tags Ltd, Autag Technology Europe BV, Wuxi Fofia Technology Co., Ltd, I.D.ology, Microchip Identification Systems, Inc., Pet-ID Microchips Ltd, Shenzhen ZDCARD Tech Co., LTD, Quanzhou Hecere Electronic Limited, Ningbo Luke Medical Devices Ltd, and other Radiofrequency identification (RFID) animal microchip manufacturers.
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