Veterinary Microchips Market to Grow with a CAGR of 9.78% through 2030
The growing
awareness about pet safety and the implementation of government regulations
mandating animal identification, is expected to drive the Global Veterinary
Microchips Market growth in the forecast period, 2026-2030
According to
TechSci Research report, “Veterinary Microchips Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2030F”,
the Global Veterinary Microchips Market stood at USD 785.15 Million in 2024 and is
expected to reach USD 1376.24 Million by 2030 with a CAGR of 9.78% during the
forecast period. The global veterinary microchips market is experiencing robust
expansion driven by technological advancements in animal identification systems
and the increasing prevalence of pet adoption worldwide. Microchips offer a
permanent, tamper-proof solution for animal identification, making them an
essential tool for pet owners, veterinarians, and livestock managers. Rising
urbanization and changing lifestyles have contributed to an increase in pet
ownership, which, in turn, is fueling demand for reliable identification
methods. Furthermore, the expanding veterinary healthcare industry and the
incorporation of digital technologies are boosting the adoption of microchips
for improved animal care and management.
Emerging trends
in the market include the integration of microchips with GPS capabilities,
enabling real-time tracking and location identification. The demand for
multifunctional devices that provide health data alongside identification is
also growing. Consumer preference for non-invasive, long-lasting identification
solutions is shaping product development strategies among manufacturers. In the
livestock sector, microchips are increasingly used to monitor animal behavior,
track feeding patterns, and optimize breeding processes, enhancing overall farm
productivity. Collaborations between veterinary service providers and tech
companies are paving the way for innovative applications of microchips in
animal welfare.
The market holds
substantial growth opportunities as awareness about microchip benefits
increases among pet owners and livestock managers. The development of
cost-effective, lightweight microchips tailored for small pets and exotic
animals presents a lucrative avenue for manufacturers. Expanding penetration in
untapped markets, particularly in emerging economies, where pet ownership is on
the rise, offers significant potential. Advances in data storage capabilities
and the use of blockchain technology for secure animal records are expected to
further enhance the value proposition of veterinary microchips. Additionally,
regulatory support and financial incentives for animal identification programs
create a favorable environment for market growth.
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"Global Veterinary Microchips Market”
The Global Veterinary
Microchips Market is segmented into animal type, scanner type, distribution
channel, regional distribution, and company.
Based on the Distribution
Channel, Veterinary Hospitals/Clinics emerged as the fastest growing segment in
the Global Veterinary Microchips Market during the forecast period. This is due
to their direct role in pet care and the increasing preference of pet owners
for professional veterinary services. As the primary point of contact for pet
healthcare, veterinary hospitals and clinics offer a range of services,
including microchipping, which is often bundled with routine check-ups and
vaccinations. The convenience of having pets microchipped during their regular
visits to the vet has made this channel the preferred choice for pet owners. In
addition to convenience, veterinary hospitals and clinics are trusted sources
of advice on animal care, and veterinarians often play a key role in educating
pet owners about the importance of microchipping. The growing awareness of
microchipping as a vital component of pet safety, coupled with increasing
regulatory requirements in many countries, has driven more pet owners to opt
for this service at their veterinary clinic. Veterinary professionals also
provide the added benefit of ensuring proper chip implantation, reducing
concerns about complications.
Based
on the Region, Asia-Pacific emerged as the fastest growing region in the Global
Veterinary Microchips Market during
the forecast period. This is due to a combination of rising pet ownership,
improving veterinary infrastructure, and increasing awareness about animal
welfare. In countries such as China, India, and Japan, pet ownership has surged
in recent years, particularly in urban areas, where pets are increasingly seen
as family members. This shift has fueled the demand for products and services
that enhance pet safety, including microchipping. The expanding middle class in
the Asia-Pacific region, coupled with higher disposable incomes, has also led
to greater spending on pet healthcare. As a result, pet owners are more willing
to invest in microchips as a reliable method for identifying and ensuring the
safety of their animals. Additionally, governments in some countries, including
Australia, have implemented regulations mandating the microchipping of pets,
further accelerating the adoption of the technology in the region.
Veterinary
care infrastructure in Asia-Pacific is improving, with more veterinary
hospitals and clinics offering microchipping services. The region's growing
awareness of animal welfare, supported by both government initiatives and
private organizations, is also driving market growth. As these trends continue,
Asia-Pacific is poised to maintain its position as the fastest-growing region
in the global veterinary microchips market during the forecast period.
Major
companies operating in Global Veterinary Microchips Market are:
- Zoetis
Inc.
- Merck
& Co., Inc.
- Elanco
Animal Health Incorporated
- Peeva
Inc.
- Virbac
S.A.
- Trovan
Ltd.
- Wuxi
Fofia Technology Co., Ltd.
- Avid
Identification Systems, Inc.
- Datamars
SA
- Pethealth
Inc.
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“The Global Veterinary Microchips Market
is witnessing growth due to the 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.,” 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, 2020-2030F”, 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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