PUBLISHER: Grand View Research | PRODUCT CODE: 1301015
PUBLISHER: Grand View Research | PRODUCT CODE: 1301015
The global animal identification market size is expected to reach USD 7.89 billion by 2030, registering a CAGR of 9.50% over the forecast period, according to a new report by Grand View Research, Inc. Growing government initiatives to prevent or eradicate disease outbreaks among livestock species, increasing mandatory adoption of electronic or RFID identification systems for moving animals - within inter-state or across state lines, rising requirement for registered animal tagging to claim insurance coverages, and ample availability of automated record maintenance platforms for remote animal monitoring, are some of the factors contributing to the growth of the market. According to the United States Department of Agriculture, animal ID & tracking systems would facilitate easy & early detection of animal disease outbreaks and tracks the source of disease to prevent future incidents by timely compartmentalization.
Rapid identification of animals is tremendously important to help contain the spread of disease before it reaches the human population. Furthermore, proper animal tagging methods also increase domestic marketing opportunities for farmers by claiming certain breed labels and allowing them to command premium prices in retail markets. Government-coordinated programs, such as USDA's AMS (Agriculture Marketing Service), have been established specifically for these purposes. The emergence of disease outbreaks like Foot and Mouth Diseases, Avian Influenza, and African Swine Fever, among others, in livestock has emphasized the value of routine disease surveillance and prompt identification of infected animals to prevent economic losses. The more rapid the identification or traceability of infection is responded to, the more limited the damages in production are faced by farmers.
Therefore, easy maintenance of disease records, tracking the mortality & vaccination status of registered animals, and claiming disaster insurance, etc., are some of the benefits received by animal owners for officially tagging their animals. The COVID-19 pandemic has delayed the manufacturing and distribution processes of animal identification tags, readers/scanners, and other solutions offered by key players in the market. For instance, Allflex (Merck Animal Health) stated that the pandemic has affected animal identification tag sales, like several other industries owing to port congestion, logistics & freight delays, and quarantine & COVID-related illness among the company's workforces. The company stated that during the pandemic, the sales of a few segments of its portfolio were delayed, particularly the printed animal tags. However, the resumption of activities in the following years enabled the businesses to recover at a rapid pace.