According to FutureWise analysis, the market for Animal Microchip Implant is estimated to be US$ 0.69 billion in 2023 and is expected to reach US$ 1.05 billion by 2031 at a CAGR of 5.40% over the forecast period of 2023-2031.
A microchip implant is a small integrated circuit placed beneath the skin of an animal, typically about the size of a large grain of rice. This microchip employs passive radio-frequency identification (RFID) technology and is called a PIT (passive integrated transponder) tag. Standard pet microchips measure 11–13 mm in length and 2 mm in diameter. In addition to implanted microchips, externally attached microchips like RFID ear tags are commonly utilized to identify farm and ranch animals, except for horses. Some external microchips can be read using the same scanner employed for implanted chips. Animal professionals, such as veterinarians, animal control officers, and shelters, frequently scan for these microchips to reunite lost pets with their owners swiftly. This practice helps avoid expenses associated with sheltering, feeding, medical care, placement, and potentially euthanizing the animals. Many shelters proactively chip all animals before they leave their care.
It involves injecting the chip using a syringe after confirming that the animal does not already have one. The procedure does not necessitate anesthesia and is minimally uncomfortable for the animal. Beneath the skin at the back of the neck in between the shoulder blades, the chip is placed. For horses, the implantation site is on the left side of the neck, while birds are implanted in their breast muscles. Proper restraint or anesthesia is required for birds. Once planted, thin layers of connective tissue develop around the chip, securing it in place.
FutureWise Market Research has published a report that provides an insightful analysis of Animal Microchip Implant Market trends that are affecting the overall market growth. This report will provide a detailed analysis of market share, regional insights, and competitor analysis that includes stature of key manufacturers operational in this industry. By the end of the forecast period FutureWise research analysts' projects that the Animal Microchip Implant Market will experience a significant growth. According to the analysis done, this report will help understand the information referring to the total valuation held by this industry. Additionally, this report will help in understanding the growth opportunities held by various segments of this market, further assist in making better strategic and expansion decisions by key stakeholders of an organization.