Market Challenges And Opportunities

Global Radio Frequency Identification (RFID) Pet Microchip Market - Drivers

Increasing use of radio frequency identification pet microchip in pets is supporting growth of the market. Animal shelter and animal control officers routinely search for microchips in stray animals and return lost pets to their owners with the help of scanning the identification number present in their microchips. RFID microchips have a wide range of customer base such as kennels, breeders, brokers, trainers, registries, rescue groups, humane societies, clinics, farms, stables, animal clubs and associations, researchers, and pet stores. The governments of some countries have made pet micro-chipping a legal requirement. For instance, in 2016, England and Wales made dog micro-chipping a legal requirement in these countries. Furthermore, in October 2020, it will also be mandatory for owners to microchip horses, ponies, and donkeys, and register their details in centralized database, as such initiatives may reduce the risk of animal trafficking. These factors are expected to drive the global radio frequency identification pet microchip market growth.

Global Radio Frequency Identification (RFID) Pet Microchip Market - Restraint

The high cost for installation and integration of RFID microchips is a major factor restraining the market growth. Moreover, RFID pet microchips are not GPS activated. It can only be read with the help of scanners, which means that a microchip cannot locate a pet if they go missing, which becomes a difficult job for animal shelter and animal control officers to search lost animals only through means of identification number present in microchips. Moreover, there is very high risk in animals, such as inflammation around the site of injection. These factors are expected to restrain the global radio frequency identification pet microchip market growth.