A microchip is a computer chip enclosed in a small glass cylinder (about the size of a grain of rice) that is injected under pet’s 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 pet’s owner can be quickly notified and reunited with their pet.
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 wasn’t 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 product’s 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 global Pet Microchips market is valued at 340 million US$ in 2018 is expected to reach 460 million US$ by the end of 2025, growing at a CAGR of 3.8% during 2019-2025.
This report focuses on Pet Microchips volume and value at global level, regional level and company level. From a global perspective, this report represents overall Pet Microchips market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan.
At company level, this report focuses on the production capacity, ex-factory price, revenue and market share for each manufacturer covered in this report.
The following manufacturers are covered:
Pethealth Inc.
HomeAgain
Bayer
AVID Identification Systems
Datamars, Inc.
Trovan, Ltd.
Virbac
Animalcare, Ltd.
Microchip4Solutions Inc.
PeddyMark
EIDAP Inc.
Micro-ID, Ltd.
Cybortra Technology
Segment by Regions
North America
Europe
China
Japan
Segment by Type
125 kHz Microchip
128 kHz Microchip
134.2 kHz Microchip
Segment by Application
Horse
Dogs
Cats
Others
Summary:
Get latest Market Research Reports on Pet Microchips . Industry analysis & Market Report on Pet Microchips is a syndicated market report, published as Global Pet Microchips Market Research Report 2019. It is complete Research Study and Industry Analysis of Pet Microchips market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.