Global Pet Microchips Market By Microchip Frequency (125khz, 128khz And 134.2khz), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032.

Market.us announces publication of its most recently generated research report titled, “Global Pet Microchips Market by Microchip Frequency (125kHz, 128kHz and 134.2kHz), By Pet Type (Dog, Cat, Horse and Other Pets), and by Region – Global Forecast to 2029.”, which offers a holistic view of the global pet microchips market through systematic segmentation that covers every aspect of the target market.

The Global Pet Microchips Market is projected to be US$ 371.2 Mn in 2019 to reach US$ 565.9 Mn by 2029 at a CAGR of 4.3%.

A microchip is a small piece of electronic equipment, almost the size of rice grain. Standard pet microchips are usually 11-13 mm long and 2 mm in diameter. The small electronic equipment consists of a coiled copper antenna and a millimeter or two sized chip. These components are encased in a biocompatible glass or polymer casing, which allows the microchip to be securely placed into the pet’s body. The microchip is implanted under the loose skin between a pet’s shoulder blades using a sterile syringe. A vet or RVT does the implantation process, which is very quick, and quite similar to administering a vaccine. Usually, the pets don’t even notice they’re being chipped. The microchip is a passive transponder having no power source of its own. Thus it does not move and can only be activated by powering through a signal from an external device. The external device is generally is a scanner. In the USA, several different microchip frequencies are being used for pet microchips such as 125kHz chip, which can be read by most scanners in the USA, 134kHz chip introduced in 2004, 128 kHz chip which was introduced in 2007.

Increasing disposable income and standard of living has resulted in a trend of adopting various pets. Due to the high disposable income, the adoption rate of pets continues to increase. Further, with the rising standard of living, the awareness about the necessity of pet microchipping among pet owners has also increased. Therefore, the augmented adoption rate of various pets coupled and rising awareness about pet microchip implantation is helping the market growth.

Global Pet Microchips Market Revenue (US$ Mn), 2019–2029 

However, improper implantation of pet microchips can lead to life-threatening sequelae. There are many cases where inappropriate and forceful implantation of pet microchips have damaged the health of the animal. Thus, risks related to incorrect implantation of microchips might dampen its demand, thereby affecting market growth. Nonetheless, changing family structures and lifestyles are rising the global trend towards pet ownership and pets as valued family members. In developing countries, the trend of owning a pet is also increasing due to lifestyle changes. Therefore, the rising trend of pet ownership in developing countries is providing lucrative opportunities for target market growth.

Global Pet Microchips market is segmented on the basis of Microchip Frequency, Pet Type, and Region. On the basis of Microchip Frequency, the market is segmented into 125kHz, 128kHz and 134.2kHz. The 134.2kHz segment accounts for the majority share and is expected to register the highest growth over the forecast period. On the basis of Pet Type, the market is segmented into Dog, Cat, Horse, and Other Pets. The Dog segment accounts for a majority share in the global Pet Microchips market.

Global Pet Microchips Market Attractiveness Index by Microchip Frequency, 2013–2019

On the basis of region, the market is segmented into North America, Europe, APAC, South America, and Middle East Africa. North America accounts for the majority share in the global Pet Microchips market, owing to technological advancements such as mobile pet microchipping. North America is expected to register the highest growth rate over the forecast period.

The research report on the global Pet Microchips market includes profiles of some of the major companies such as HomeAgain, Inc., Bayer, Pethealth Inc., Virbac SA, Avid Identification Systems, Inc., Trovan, Ltd., Animalcare, Ltd., Datamars, Microchip4Solutions Inc. and EIDAP Inc.

Key Market Segments

Type

• 125 kHz Microchip
• 128 kHz Microchip
• 134.2 kHz Microchip

Application

• Horse
• Dogs
• Cats
• Others

Key Market Players included in the report:

• HomeAgain Inc.
• Bayer
• Pethealth Inc.
• Virbac SA
• Avid Identification Systems Inc.
• Trovan Ltd.
• Animalcare Ltd.
• Datamars
• Microchip4Solutions Inc. and EIDAP Inc

For the Pet Microchips Market research study, the following years have been considered to estimate the market size: