HUMAN MICROCHIPPING MARKET ANALYSIS

Human Microchipping MarketSize and Trends

Global human microchipping market size is estimated to be valued at US$ 1.71 Bn in 2023 and is expected to reach US$ 2.75 Bn by 2030, exhibit at a compound annual growth rate (CAGR) of 7% from 2023 to 2030. Increasing demand for human microchipping in the healthcare and animal identification industries is driving the market growth of the global human microchipping market.

Figure 1. Global Human Microchipping Market Share (%), By Region, 2023

Global Human Microchipping Market Trends:

• Increasing adoption in niche applications: Human microchipping has seen adoption in niche applications such as employee access control, healthcare, and certain industries. For example, some companies have offered voluntary microchipping to their employees for streamlined access and security purposes. There has been instances of individuals voluntarily implanting microchips for medical identification or personal convenience.
• Technological advancements: Technological advancements in microchip technology continue to drive the human microchipping market. These advancements include miniaturization, improved biocompatibility, increased storage capacity, and integration with other technologies such as NFC (Near Field Communication).