A microchip is a computer chip enclosed in a small glass cylinder (about the size of a grain of rice) that is injected under pets skin as a means of identification. Each microchip is connected to an online registry of owner contact information. In the event that pet is lost and taken to a shelter or veterinary hospital, he will be scanned for a microchip. If the contact information on file is up to date, the pets owner can be quickly notified and reunited with their pet.
Scope of the Report:
The basic technology behind pet microchips traces back several decades. But, it wasn’t until recently that the devices became cheap enough to hit the mainstream pet market.
The key players are Pethealth Inc., HomeAgain, Bayer, AVID Identification Systems, Datamars, Inc., Trovan, Ltd., Virbac, Animalcare, Ltd., Microchip4Solutions Inc., PeddyMark, EIDAP Inc., Micro-ID, Ltd., Cybortra Technology and so on. As if the microchip system for pet identification wasnt complicated and inefficient enough, an influx of new players is adding confusion and stirring tension in the market.
The leading companies own the advantages on better performance, more abundant products types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, the slow downward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.
The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Market stays in mature period with a clear concentration. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins. Manufacturers can take advantage of this situation by reinforcing their production units and supply-chains to avoid any delay in production turn-around-times (TAT) and supply-lead-times.
Significant and lasting barriers make entry into this market difficult. These barriers include, but are not limited to: (i) product development costs; (ii) capital requirements; (iii) intellectual property rights; (iv) regulatory requirement; and (v) Transitions unfair methods of competition.
Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area, the future will still have more new investment enter the field. Even so, the market is intensely competitive .The study group recommends the new entrants just having money but without technical advantage and upstream and downstream support do not to enter into this field.
The worldwide market for Pet Microchips is expected to grow at a CAGR of roughly 3.9% over the next five years, will reach 430 million US$ in 2024, from 340 million US$ in 2019, according to a new Research study.
This report focuses on the Pet Microchips in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
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Market Segment by Manufacturers, this report covers
AVID Identification Systems
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
125 kHz Microchip
128 kHz Microchip
134.2 kHz Microchip
Market Segment by Applications, can be divided into
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Pet Microchips product scope, market overview, market opportunities, market driving force and market risks.
Chapter 2, to profile the top manufacturers of Pet Microchips, with price, sales, revenue and global market share of Pet Microchips in 2017 and 2018.
Chapter 3, the Pet Microchips competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Pet Microchips breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2014 to 2019.
Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2014 to 2019.
Chapter 10 and 11, to segment the sales by type and application, with sales market share and growth rate by type, application, from 2014 to 2019.
Chapter 12, Pet Microchips market forecast, by regions, type and application, with sales and revenue, from 2019 to 2024.
Chapter 13, 14 and 15, to describe Pet Microchips sales channel, distributors, customers, research findings and conclusion, appendix and data source.
Aira McDonald is a seasoned journalist with nearly 15 years experience. While studying journalism at the University of Detroit,, Aira found a passion for finding engaging stories. As a contributor to PR News Globe, Aira mostly covers human interest pieces.