Veterinary Microchips Market to Grow at CAGR of 8.76% through 2029F
Rising awareness of pet safety and identification
technologies is expected to drive the Global Veterinary Microchips Market
growth in the forecast period, 2025-2029.
According to TechSci Research report, “Veterinary
Microchips Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2019-2029F”, the Global Veterinary Microchips
Market stood at USD 0.64 Billion in 2023 and is expected to reach USD 1.05 Billion by
2029 with a CAGR of 8.76% during the forecast period. The expansion of emerging
markets in regions such as Asia-Pacific, Latin America, and the Middle East is playing
a significant role in driving the growth of the Global Veterinary Microchips
Market. These regions are experiencing notable socio-economic shifts, including
a rising middle class, increased disposable incomes, and an evolving affinity
for companion animals. As a result, pet ownership is on the rise, creating a
heightened demand for comprehensive veterinary care services, including
advanced identification methods like microchips. In countries such as China,
India, and Brazil, the pet care industry is undergoing rapid expansion, fueled
by changing lifestyles, urbanization, and a growing focus on animal welfare.
As pet care industries in these regions flourish, the
demand for pet identification solutions has surged. The growing popularity of
microchips as a reliable and permanent form of pet identification is gaining
traction among pet owners who seek improved safety measures for their animals.
As awareness about the benefits of microchips increases, the demand for these
devices continues to grow, especially in countries with expanding urban
populations and heightened concerns about pet safety and theft. International companies are also recognizing
the growth potential in these regions and are actively expanding their
operations to capitalize on this trend. Many global veterinary product
manufacturers and service providers are entering these emerging markets,
offering advanced microchip technologies and other veterinary solutions to
cater to the rising demand. This influx of international expertise is further
boosting the adoption of veterinary microchips in these regions.
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The Global Veterinary Microchips Market is segmented
into animal type, scanner type, distribution channel, regional distribution,
and company
Based on Distribution Channel, veterinary hospitals
and clinics emerged as the dominant force. This dominance can be attributed to
several factors, including the trusted relationship between pet owners and
veterinary professionals, the comprehensive services provided by these
establishments, and the emphasis on animal welfare. Veterinary hospitals and
clinics are the primary points of contact for pet owners seeking health-related
services for their animals. Pet owners often rely on their veterinarians for
recommendations on the best practices for pet care, which includes the implantation
of microchips. This reliance on veterinary professionals establishes a strong
distribution network for microchips, making it the most effective channel for
reaching pet owners. Veterinarians are generally well-informed about the
benefits and importance of microchipping, including its role in ensuring the
safe return of lost pets, which fosters an environment of trust and encourages
pet owners to adopt this technology. Veterinary hospitals and clinics offer comprehensive
services, allowing for a seamless integration of microchipping into routine
veterinary care. Many clinics provide microchipping as part of a broader set of
health services, such as vaccinations and wellness checks. This convenience
enhances the likelihood of pet owners opting for microchipping during their
visits. The presence of trained veterinary staff ensures that the microchipping
process is conducted safely and professionally, providing reassurance to pet
owners about the procedure. Another significant factor contributing to the
dominance of veterinary hospitals and clinics in the distribution of microchips
is the increasing trend of animal welfare advocacy. Many veterinary clinics are
actively involved in promoting pet adoption and responsible pet ownership. They
often collaborate with animal shelters and rescue organizations, which further
amplifies the reach of microchip services. As these organizations frequently
mandate microchipping as a condition for adoption, the role of veterinary
clinics becomes even more crucial in ensuring that all adopted pets are microchipped
before they leave the shelter.
Based on region, Europe emerged as the second dominant region in the Global Veterinary Microchips Market. The
region's robust growth can be attributed to a combination of regulatory
frameworks, high pet ownership rates, increasing awareness of animal welfare,
and advancements in veterinary healthcare infrastructure. One of the key
factors contributing to Europe's prominence in the veterinary microchips market
is the stringent regulations surrounding pet microchipping. Many European countries
have implemented laws mandating the microchipping of pets, particularly dogs
and cats. For example, the European Union has established a directive requiring
all dogs to be microchipped and registered with a database. Such regulations
not only enhance pet identification but also ensure responsible pet ownership.
Compliance with these laws has resulted in increased demand for microchips,
positioning Europe as a leader in the adoption of this technology. High pet ownership rates across various European
countries also drive the demand for veterinary microchips. According to various
studies, nearly 50% of households in Europe own at least one pet, with cats and
dogs being the most common. This substantial pet ownership creates a
significant market for veterinary services, including microchipping. Pet owners
in Europe are increasingly recognizing the importance of microchipping as a
preventive measure to ensure their pets’ safety and security. The ability to reunite
lost pets with their owners, facilitated by microchips, has become a critical
aspect of pet care in the region.
Major companies operating in Global Veterinary
Microchips Market are:
- Merck
& Co., Inc.
- Peeva
Inc.
- Virbac
- Trovan
Ltd
- Wuxi
Fofia Technology Co., Ltd.
- Avid
Identification Systems, Inc.
- Datamars
SA
- Pethealth
Inc.
- Carry
My Pet
- Elanco
Animal Health Incorporated
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“Increasing concerns about zoonotic diseases, which
are transmitted from animals to humans, are driving the demand for veterinary
microchips, especially in livestock tracking and monitoring. Zoonotic diseases
such as avian influenza, swine flu, and COVID-19 have underscored the need for
more effective animal population management to prevent outbreaks and control
the spread of infections. As a result, veterinary microchips are becoming an
essential tool in disease surveillance programs, offering authorities a way to
track animal movement, monitor health conditions, and quickly identify
potential sources of infection. Microchips allow for the precise tracking of
livestock, enabling farmers and authorities to maintain detailed records of
individual animals' health, vaccination history, and medical treatment. This
capability helps ensure that livestock are promptly treated when necessary,
minimizing the risk of diseases spreading within herds and to humans. In
addition, microchips offer a reliable way to track animals' locations and
movements, which is crucial for controlling the spread of infectious diseases.
If a disease outbreak occurs, authorities can use microchip data to quickly
identify affected animals and take action to prevent further spread, enhancing
overall biosecurity measures.,” said Mr. Karan Chechi, Research Director of
TechSci Research, a research-based management consulting firm.
“Veterinary
Microchips Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented By Animal Type (Dogs, Cats, Horses, Others), By Scanner
Type (134.2 kHz, 125 KHz, 128 KHz), By Distribution Channel (Veterinary
hospitals/clinics, Others), By Region and Competition, 2019-2029F”, has evaluated the future growth potential of Global
Veterinary Microchips Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Veterinary
Microchips Market.
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