A pet identification microchip uses radio frequency identification (RFID) technology that allows animal shelters and veterinarians to track the details of their pets by moving an RFID scanner across the pet’s body where the microchip is embedded.
New York, Jan. 19, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Pet Identification Microchip Market Forecast to 2028: Impact of COVID-19 and Global Analysis by Pet Type and End User ” – https://www.reportlinker.com/p06382158/?utm_source=GNW
In addition, the scanner identifies the company that made the chip and provides an account number to the veterinarian, who contacts the identification company.
Furthermore, the microchips are about the size of a grain of rice and weigh 0.025 grams. Microchips are extremely small electronic chips with unique identification numbers and are not large enough to contain GPS or any hardware components. Microchipping companion animals has gained wide acceptance around the world. There is a growing demand for personalized pet identification microchips with exact alphanumeric identification codes of up to 15 characters. Each microchip is securely encrypted and customized according to the owner’s requirements in terms of radio frequencies, licenses, and the chip’s unique identification number. Also, microchips are small and durable, designed to last and work under any circumstances. With different countries’ ISO standards for animal identification, pet owners demand custom ISO compliant microchips for their pets. MICROCHIP ID SYSTEMS, INC., an ISO-certified manufacturer of microchips that are humanely and safely implanted in pets, designed a special “EquineChip” for jockeys who need to ensure their horses are fit for upcoming races. and games. As a result, the increasing demand for personalized pet identification microchips is driving the growth of the market.
Impact of the COVID-19 pandemic on the growth of the pet identification microchip market
Government-imposed limitations to control the spread of novel coronavirus infection during the early period of the COVID-19 outbreak in most countries affected the daily operations of most businesses. Several economies experienced a sharp decline in their GDP in 2020 due to the sudden shutdown of most economic activities in the countries.
According to the Organization for Economic Co-operation and Development (OECD), the pandemic negatively affected the US, UK, India, Italy, France, China, Australia, Japan, and several other major countries. Furthermore, the waves of the outbreak were approaching in different time frames in each country in different regions.
Therefore, multinational companies operating in different regions had to reconfigure their operations to accommodate all their employees, leading to the widespread adoption of work from home (WFH). This strategy strongly promoted the adoption of companion animals in several countries, promoting pet identification microchips. market growth.
This is because most of these pets are microchipped before being adopted. According to the Royal Society for the Prevention of Cruelty to Animals (RSCPA) Victoria, they received 61,000 pet adoption applications as of April 2020. Thus, the market for pet identification microchips in countries like the UK, Australia and New Zealand, where dog microchipping is mandatory, is positively impacted. However, the impact of the pandemic was very different in countries like India, Pakistan, and Bangladesh, as the overall penetration rate of pet identification microchips is quite low in these countries. Overall, the COVID-19 pandemic had a positive impact on the Asia Pacific pet identification microchip market.
China accounts for the largest share of the pet identification microchip market in Asia Pacific, followed by Japan and Australia. The pet identification microchip market in Australia is growing rapidly.
In the country, microchipping for cats and dogs is required in ACT (Australian Capital Territory), NSW (New South Wales), QLD (Queensland), VIC (Victoria) and WA (Western Australia). Dog microchipping is required in TAS (Tasmania) only.
In accordance with Section 14 of the Animal Management (Cats and Dogs) Act 2008, all cats and dogs must be microchipped before 12 weeks of age. In addition, in accordance with Section 84 of the Domestic Animals Act 2000 and Regulation 7 of the Domestic Animals Regulations 2001, microchipping of cats and dogs prior to sale/transfer and prior to 12 weeks of age is mandatory.
Such factors promote the revenue generation of the Pet Identification Microchips market players operating in the country. OzMircochips is one of the major players in the pet identification microchip market providing microchips in Australia.
Pet identification microchip market revenue was primarily generated through dog microchips. However, that scenario is changing rapidly.
The cat segment is anticipated to record the highest growth rate due to increasing awareness of the advantages of microchips and regulations by government authorities. According to the European Federation of the Pet Food Industry (FEDIAF), Europe had more than 113 million pet cats in 2021 and 103.8 million pet cats in 2018. Europe has the highest rate of cat ownership compared to all the other regions. Therefore, regulatory bodies have begun to mandate the use of microchips in cats to track owners and reduce stray dogs. The UK government mandated microchipping of cats in 2021, with owners required to comply with the same by the end of 2022. Additionally, Turkey passed a new animal rights law in 2021, which mandated microchipping of cats. cats by the end of 2022. The law was passed to discourage citizens from abandoning their pets on the streets when moving to a new city. Such mandates are expected to fuel the growth of the pet identification microchip market in the coming years.
Pethealth, Inc; Merck & Co., Inc.; Elanco Animal Health, Inc; Avid Identification Systems, Inc; Datamars SA; Trovan Ltd; Virbac SA; Animalcare Group Plc; Microchip4solutions Inc; and PeddyMark Ltd are some of the major players in the pet identification microchip market.
The overall pet identification microchip market size was obtained using primary and secondary sources. To begin the research process, extensive secondary research was conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process is also for the purpose of obtaining an overview and forecast of the pet identification microchip market size with respect to all market segments. In addition, multiple primary interviews with participants and industry commentators were conducted to validate the data and gain further analytical insight.
Participants in this process include vice presidents, business development managers, market intelligence managers, country sales managers, along with outside consultants such as valuation experts, research analysts, and key opinion leaders, who specialize in the microchip market. pet identification.
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