Veterinary RFID Readers Market Size
| Study Period | 2024 - 2029 |
| Market Size (2024) | USD 1.22 Billion |
| Market Size (2029) | USD 1.77 Billion |
| CAGR (2024 - 2029) | 7.68 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Veterinary RFID Readers Market Analysis
The Veterinary RFID Readers Market size is estimated at USD 1.22 billion in 2024, and is expected to reach USD 1.77 billion by 2029, growing at a CAGR of 7.68% during the forecast period (2024-2029).
The major factors driving the growth of the veterinary RFID reader market are the rising number of livestock animals and the increasing applications of veterinary RFID readers in animal care.
The rising livestock population worldwide is expected to drive demand for veterinary RFID readers to track animal health and identify lost animals, ultimately driving the growth of the market during the forecast period. For instance, according to Eurostat updated data from March 2023, the European Union had a sizeable livestock population in December 2022; there were 134 million pigs, 75 million bovine animals, and 11 million goats.
Moreover, according to a report published by the United States Department of Agriculture in February 2023, the total number of cattle and calves in January 2023 was estimated at 89.2 million. Hence, the significant number of livestock animals worldwide is expected to drive the demand for veterinary RFID readers, which will propel the market's growth during the forecast period.
Also, the rising advantages of veterinary RFID readers are expected to boost the market during the forecast period. For instance, according to an article published in the IEEE Journal of Radio Frequency Identification in January 2023, animal tracking holds significant importance across diverse economic domains, encompassing sectors, including livestock farming, agricultural practices, and the conservation of wildlife populations. The application of RFID technology in the field of animal tracking has experienced a significant surge in popularity in recent years. Hence, the increasing applications of RFID technology in animal care are expected to raise the demand for veterinary RFID readers, which will ultimately propel the growth of the market during the forecast period.
The growing livestock population and the increasing use of veterinary RFID readers are expected to drive market growth during the forecast period. However, the high cost of veterinary RFID readers may hinder market growth during this time.
Veterinary RFID Readers Market Trends
The Handled RFID Readers Segment is Expected to Hold Significant Market Share During the Forecast Period
Handled radio frequency identification (RFID) is a technology that uses radio waves to transfer data from an electronic tag, called an RFID tag, attached to an animal through a reader to identify and track the animal. Handled RFID is also used in livestock management, where it plays an essential role in modernizing and streamlining traditional practices, providing invaluable insights into animal health and productivity, and ultimately enhancing ranchers鈥� decision-making processes.
The various applications of handled RFID, such as in the identification of each animal鈥檚 medical information, pedigree, and owner information, are expected to increase its utilization and boost the growth of the market during the forecast period. For instance, according to an article published in the PeerJ Computer Science in March 2022, the automatic RFID-based identification of cattle by using the handled RFID will be part of the innovation process of animal recording, encompassing a digitized and real-time automatically generated database within the so-called precision livestock farming (PLF).
Moreover, according to an article published in the International Journal of Environment and Climate Change in September 2023, handled RFID systems have the potential to revolutionize agricultural processes, offering benefits such as improved supply chain management, enhanced livestock tracking, and data-driven decision-making. Hence, the various applications of handled RFID systems are expected to drive the market during the forecast period. Also, the rising government initiatives to integrate RFID technology are expected to drive the segment growth during the forecast period.
For instance, according to an article published by the Farm-To-Consumer Legal Defense Fund in March 2024, in January 2023, the United States Department of Agriculture (USDA) Animal and Plant Health Inspection Service (APHIS) proposed a rule to maintain animal ear tags for both visually and electronically readable for animal traceability. Such government initiatives are expected to increase the adoption of handled RFID systems, ultimately driving the market during the forecast period.
Hence, various applications of the handled RFID and increasing government initiatives to incorporate the RFID systems are expected to increase the utilization of the handled RFID systems, further driving the segment revenue during the forecast period.
North America is Expected to Hold Significant Market Share During the Forecast Period
The geographical analysis of the veterinary RFID readers market shows that North America holds a significant market share in the global market. This is due to the rising number of livestock animals and increasing government initiatives expected to drive the market during the forecast period.
The growing number of livestock animals is expected to increase the utilization of veterinary RFID readers, which will further drive the market during the forecast period. For instance, around 89.3 million cattle and calves were there in the United States in January 2023. Also, according to data published by Statistics Canada in January 2022, around 13 million cattle were present in Canada in 2022. Hence, many animals in the United States are expected to drive the market during the forecast period.
Also, government initiatives to increase the use of veterinary RFID readers are expected to drive the market during the forecast period. For instance, in March 2022, the Canadian Veterinary Medical Association (CVMA) supported the permanent identification of small (companion) animals with radio-frequency identification (RFID) products that comply with the standards of the International Standards Organization (ISO). Hence, such initiatives by government organizations are expected to drive the demand for veterinary RFID readers, further driving the market during the forecast period.
The significant increase in the cattle population and rising government initiatives are expected to drive the market during the forecast period.
Veterinary RFID Readers Industry Overview
The veterinary RFID readers market is concentrated due to a few companies operating globally and regionally. The competitive landscape includes an analysis of several international companies that hold market shares and are well known, including Avid Identification Systems Inc., Intellibio, UNO Life Science Solutions, Sonop Technology, Uni Information Devices, Serialio, and Ngaio Diagnostics.
Veterinary RFID Readers Market Leaders
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Avid Identification Systems, Inc
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Intellibio
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UNO Life Science Solutions
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Sonop Technology
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Ngaio Diagnostics
*Disclaimer: Major Players sorted in no particular order
Veterinary RFID Readers Market News
- October 2023: GlobalVetLink reported compatibility with RFID Readers, which allows users to easily upload animal ID information to the GlobalVetLink (GVL) Compliance Assistant Platform. The platform increases productivity and reduces errors by monitoring applicable state, federal, and international regulatory requirements.
- May 2024: The Indiana State Department of Agriculture (ISDA) launched the RFID Reader Rental program. In this program, the ISDA provides several RFID readers for loan to Idaho livestock producers.
Veterinary RFID Readers Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definitions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Livestock Population Across the World
4.2.2 Growing Advantages of Veterinary RFID Readers
4.3 Market Restraints
4.3.1 High Cost of Veterinar RFID Readers
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Type
5.1.1 Fixed RFID Readers
5.1.2 Handled RFID Readers
5.2 By Application
5.2.1 Livestock Farms
5.2.2 Veterinary Clinics
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Avid Identification Systems Inc.
6.1.2 Intellibio
6.1.3 UNO Life Science Solutions
6.1.4 Sonop Technology
6.1.5 Ngaio Diagnostics
- *List Not Exhaustive
Veterinary RFID Readers Industry Segmentation
As per the report's scope, the radio frequency identification (RFID) tag is a small button containing an embedded microchip attached to the regular animal tag. Veterinary RFID readers scan these tags for the animal鈥檚 medical, pedigree, and owner information. The veterinary RFID reader market is segmented into type, application, and geography. By type, the market is segmented into fixed RFID readers and handled RFID readers. By application, the market is segmented into livestock farms and veterinary clinics. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. For each segment, the market sizing and forecasts are done based on value (USD).
| By Type | |
| Fixed RFID Readers | |
| Handled RFID Readers |
| By Application | |
| Livestock Farms | |
| Veterinary Clinics |
| Geography | ||||||||
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Veterinary RFID Readers Market Research FAQs
How big is the Veterinary RFID Readers Market?
The Veterinary RFID Readers Market size is expected to reach USD 1.22 billion in 2024 and grow at a CAGR of 7.68% to reach USD 1.77 billion by 2029.
What is the current Veterinary RFID Readers Market size?
In 2024, the Veterinary RFID Readers Market size is expected to reach USD 1.22 billion.
Who are the key players in Veterinary RFID Readers Market?
Avid Identification Systems, Inc, Intellibio, UNO Life Science Solutions, Sonop Technology and Ngaio Diagnostics are the major companies operating in the Veterinary RFID Readers Market.
Which is the fastest growing region in Veterinary RFID Readers Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Veterinary RFID Readers Market?
In 2024, the North America accounts for the largest market share in Veterinary RFID Readers Market.
What years does this Veterinary RFID Readers Market cover, and what was the market size in 2023?
In 2023, the Veterinary RFID Readers Market size was estimated at USD 1.13 billion. The report covers the Veterinary RFID Readers Market historical market size for years: . The report also forecasts the Veterinary RFID Readers Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Veterinary RFID Readers Industry Report
Statistics for the 2024 Veterinary RFID Readers market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Veterinary RFID Readers analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
