A human microchip implant is an identifying integrated circuit RFID (Radio-Frequency IDentification) device that is covered in silicate glass and injected under the skin, which is usually around the size of a rice grain. When the microchip is activated, it sends a signal that can be read by a scanner, or via a smartphone app. The chip also stores people’s identity, medical history, and medications. Many human microchips are based on RFID technology, which allows wireless communication between the microchip and an RFID reader. This technology is widely used for various tracking and identification purposes in different industries.

In the medical field, microchips can be implanted in the human body for various purposes. Some medical implants contain microchips to monitor and regulate health conditions, such as insulin delivery for diabetic patients or neurostimulation devices for pain management. Some individuals voluntarily implant microchips in their bodies for biohacking or transhumanist purposes. These implants can be used for experimental or enhancement purposes, such as opening doors, storing personal data, or controlling external devices thus, driving the market growth over the forecasted period.

Market Dynamics:

Various advantages of human microchipping such as fighting fraud and theft, enhancing security, among others are likely to drive growth of the global human microchipping market during the forecast period. Fighting fraud and theft has become a major driver for the growth of the human microchipping market worldwide. With rising cases of identity thefts, credit card frauds and other such financial crimes, many organizations and governments are looking at microchipping as a solution to curb these issues thus, supporting the market development over the analysis period.

However, risk of cyber-attacks to spoof people or spy on their activities is a major factor expected to hamper growth of the global human microchipping market over the forecast period.

Key features of the study:

• This report provides in-depth analysis of the global human microchipping market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global human microchipping market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include XINYETONG TECHNOLOGY DEVELOPMENT CO.,LTD, I AM ROBOT, BioTeq Limited., Dangerous Things, and Upgraded Humans
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global human microchipping market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global human microchipping market

Global Human Microchipping Market Detailed Segmentation:

• By Application:
  • Medical identification and monitoring
  • Personal identification and access control
  • Financial transactions
  • Others (such as tracking, monitoring, etc.)
• By Type:
  • Implantable microchips
  • Non-implantable microchips
• By Technology:
  • RFID (Radio Frequency Identification)
  • NFC (Near Field Communication)
  • Others (such as GPS, QR codes, etc.)
• By End User:
  • Healthcare
  • Financial services
  • Retail and logistics
  • Government and law enforcement
  • Others (such as education, entertainment, etc.)
• By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
• Top Companies in the Global Human Microchipping Market:
  • XINYETONG TECHNOLOGY DEVELOPMENT CO.,LTD
  • I AM ROBOT
  • BioTeq Limited.
  • Dangerous Things
  • Upgraded Humans