Product Code: GVR-4-68040-445-4
Veterinary Microchips Market Growth & Trends:
The global veterinary microchips market size is anticipated to reach USD 1.31 billion by 2030 and is projected to grow at a CAGR of 9.98% from 2024 to 2030, according to a new report by Grand View Research, Inc. The primary drivers of market growth include increasing pet humanization, growing animal health awareness, and increasing adoption of microchipping. As more pet owners and veterinarians recognize the benefits of microchipping such as improved pet identification, enhanced safety, and better chances of reuniting lost pets, the demand for microchip increases. In many regions, microchipping is becoming a mandatory requirement for pet registration, travel, or breeding. Compliance with these regulations drives up the demand for microchips and related services.
One of the key factors propelling the market growth is the stringent laws associated to pet microchipping. For instance, according to an article published by British veterinary Association, the UK made it mandatory for all dogs to receive microchips on April 6, 2016. Eight million dogs were microchipped a year after mandatory microchipping was implemented, according to Defra statistics, which was three million more than in 2013 when the plans were initially revealed. At the time, it was considered that this represented 95% of the UK dog population.
The presence of significant manufacturers and suppliers also contributes to the market growth. For instance, Identichip is one of the top microchip providers in the UK and a trustworthy supplier of the most advanced microchip technology reserved for veterinary specialists. According to the Identichip, more than 5 million animals have been microchipped in the UK with Identichip and are trusted for reliable microchip products and support by more than 1,750 veterinary practices, local governments, charities, and animal welfare organizations.
Moreover, lack of awareness and knowledge about microchipping can indeed be a significant barrier to the market growth. Many pet owners might not fully understand the benefits of microchipping, or the procedures involved. This can lead to lower adoption rates and less emphasis on the technology's importance in pet safety and identification. Moreover, instances of microchip mismanagement, such as improper registration or failure to update contact details, can undermine the effectiveness of microchips. When a microchip is not properly registered or if information is outdated, it defeats the purpose of having the microchip in the first place. Hence, educating pet owners and veterinary professionals about the benefits of microchipping is crucial. Increasing awareness can significantly impact the adoption rate of microchips, which in turn drives the market growth.
Veterinary Microchips Market Report Highlights:
- Based on animal type, the dogs segment led the market with the largest revenue share of 46.07% in 2023, owing to the widespread adoption of dogs as pets
- Based on scanner type, the 134.2 KHz segment led the market with the largest revenue share of 63.64% in 2023. The 134.2 kHz is the most common frequency used for veterinary microchips
- Based on distribution channel, the veterinary hospitals/clinics segment led the market with the largest revenue share of 57.02% in 2023, as many veterinary practices now routinely offer microchipping services as part of their care packages, especially during routine check-ups or spaying/neutering procedures
- North America dominated the market with the largest revenue share of 33.34% in 2023. This regional market is likely to be driven by the presence of established players and increasing demand for treatment among veterinary practices
- Asia Pacific is anticipated to grow at the fastest CAGR of 11.2% over the forecast period
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources
- 1.3.4. Primary Research
- 1.4. Information/Data Analysis
- 1.5. Market Formulation & Visualization
- 1.6. Data Validation & Publishing
- 1.7. Model Details
- 1.7.1. Commodity flow analysis
- 1.7.2. Global Market: CAGR Calculation
- 1.8. List of Secondary Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Veterinary Microchips Market Variable Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent Market
- 3.1.2. Ancillary Market
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.1.1. Increasing adoption of companion animals
- 3.2.1.2. Growing animal health expenditure
- 3.2.1.3. Increasing adoption of microchips
- 3.2.2. Market Restraint Analysis
- 3.2.2.1. Lack of awareness
- 3.2.3. Market Opportunity Analysis
- 3.2.4. Market Challenge Analysis
- 3.3. Veterinary Microchips Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Bargaining power of suppliers
- 3.3.1.2. Bargaining power of buyers
- 3.3.1.3. Threat of substitution
- 3.3.1.4. Threat of new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political & Legal landscape
- 3.3.2.2. Economic and Social landscape
- 3.3.2.3. Technological landscape
- 3.3.2.4. Environmental landscape
- 3.3.3. Regulatory Framework
- 3.3.4. Pricing Analysis
- 3.3.5. Estimated percentage of pets microchipped by region, 2023
- 3.3.6. Estimated Animal Population by key countries, key species, 2023
- 3.3.7. COVID-19 Impact Analysis
Chapter 4. Veterinary Microchip Market: Animal Type Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Veterinary Microchip Market: Animal type Movement Analysis
- 4.3. Veterinary Microchips Market Size & Trend Analysis, by animal type, 2018 to 2030 (USD Million)
- 4.4. Dogs
- 4.4.1. Dogs Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5. Cats
- 4.5.1. Cats Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.6. Horses
- 4.6.1. Horses Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.7. Others
- 4.7.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Veterinary Microchip Market: By Scanner type Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Veterinary Microchip Market: By scanner type Movement Analysis
- 5.3. Veterinary Microchips Market Size & Trend Analysis, by scanner type, 2018 to 2030 (USD Million)
- 5.3.1. 134.2 KHz
- 5.3.1.1. 134.2 KHz Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.3.2. 125 KHz
- 5.3.2.1. 125 KHz Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.3.3. 128 KHz
- 5.3.3.1. 128 KHz Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Veterinary Microchip Market: By Distribution Channel Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Veterinary Microchip Market: By Distribution Channel Movement Analysis
- 6.3. Veterinary Microchips Market Size & Trend Analysis, by distribution channel, 2018 to 2030 (USD Million)
- 6.3.1. Veterinary hospitals/clinics
- 6.3.1.1. Veterinary hospitals/clinics Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.2. Others
- 6.3.2.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Veterinary Microchip Market: Regional Estimates & Trend Analysis
- 7.1. Regional Dashboard
- 7.2. Veterinary Microchips Market Share, By Region, 2023 & 2030, USD Million
- 7.3. Regional Outlook
- 7.4. North America
- 7.4.1. North America Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.4.2. U.S.
- 7.4.2.1. Key Country Dynamics
- 7.4.2.2. U.S. Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.4.3. Canada
- 7.4.3.1. Key Country Dynamics
- 7.4.3.2. Canada Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.4.4. Mexico
- 7.4.4.1. Key Country Dynamics
- 7.4.4.2. Mexico Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.5. Europe
- 7.5.1. Europe Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.5.2. UK
- 7.5.2.1. Key Country Dynamics
- 7.5.2.2. UK Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.5.3. Germany
- 7.5.3.1. Key Country Dynamics
- 7.5.3.2. Germany Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.5.4. France
- 7.5.4.1. Key Country Dynamics
- 7.5.4.2. France Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.5.5. Italy
- 7.5.5.1. Key Country Dynamics
- 7.5.5.2. Italy Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.5.6. Spain
- 7.5.6.1. Key Country Dynamics
- 7.5.6.2. Spain Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.5.7. Denmark
- 7.5.7.1. Key Country Dynamics
- 7.5.7.2. Denmark Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.5.8. Sweden
- 7.5.8.1. Key Country Dynamics
- 7.5.8.2. Sweden Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.5.9. Norway
- 7.5.9.1. Key Country Dynamics
- 7.5.9.2. Norway Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.6. Asia Pacific
- 7.6.1. Asia Pacific Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.6.2. Japan
- 7.6.2.1. Key Country Dynamics
- 7.6.2.2. Japan Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.6.3. China
- 7.6.3.1. Key Country Dynamics
- 7.6.3.2. China Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.6.4. India
- 7.6.4.1. Key Country Dynamics
- 7.6.4.2. India Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.6.5. Australia
- 7.6.5.1. Key Country Dynamics
- 7.6.5.2. Australia Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.6.6. South Korea
- 7.6.6.1. Key Country Dynamics
- 7.6.6.2. South Korea Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.6.7. Thailand
- 7.6.7.1. Key Country Dynamics
- 7.6.7.2. Thailand Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.7. Latin America
- 7.7.1. Latin America Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.7.2. Brazil
- 7.7.2.1. Key Country Dynamics
- 7.7.2.2. Brazil Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.7.3. Argentina
- 7.7.3.1. Key Country Dynamics
- 7.7.3.2. Argentina Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.8. Middle East & Africa
- 7.8.1. Middle East & Africa Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.8.2. South Africa
- 7.8.2.1. Key Country Dynamics
- 7.8.2.2. South Africa Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.8.3. Saudi Arabia
- 7.8.3.1. Key Country Dynamics
- 7.8.3.2. Saudi Arabia Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.8.4. UAE
- 7.8.4.1. Key Country Dynamics
- 7.8.4.2. UAE Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.8.5. Kuwait
- 7.8.5.1. Key Country Dynamics
- 7.8.5.2. Kuwait Veterinary Microchips Market Estimates And Forecasts, 2018 - 2030 (USD Million)
Chapter 8. Competitive Landscape
- 8.1. Market Participant Categorization
- 8.2. Company Market Position Analysis/ Heap Map Analysis
- 8.3. Company Profiles
- 8.3.1. Merck & Co., Inc.
- 8.3.1.1. Participant's Overview
- 8.3.1.2. Financial Performance
- 8.3.1.3. Product Benchmarking
- 8.3.1.4. Strategic Initiatives
- 8.3.2. Peeva Inc.
- 8.3.2.1. Participant's Overview
- 8.3.2.2. Financial Performance
- 8.3.2.3. Product Benchmarking
- 8.3.2.4. Strategic Initiatives
- 8.3.3. Virbac
- 8.3.3.1. Participant's Overview
- 8.3.3.2. Financial Performance
- 8.3.3.3. Product Benchmarking
- 8.3.3.4. Strategic Initiatives
- 8.3.4. ID Tech (Eruditus Executive Education)
- 8.3.4.1. Participant's Overview
- 8.3.4.2. Financial Performance
- 8.3.4.3. Product Benchmarking
- 8.3.4.4. Strategic Initiatives
- 8.3.5. Dipole RFID
- 8.3.5.1. Participant's Overview
- 8.3.5.2. Financial Performance
- 8.3.5.3. Product Benchmarking
- 8.3.5.4. Strategic Initiatives
- 8.3.6. Trovan Ltd
- 8.3.6.1. Participant's Overview
- 8.3.6.2. Financial Performance
- 8.3.6.3. Product Benchmarking
- 8.3.6.4. Strategic Initiatives
- 8.3.7. Wuxi Fofia Technology Co., Ltd
- 8.3.7.1. Participant's Overview
- 8.3.7.2. Financial Performance
- 8.3.7.3. Product Benchmarking
- 8.3.7.4. Strategic Initiatives
- 8.3.8. Avid Identification Systems, Inc.
- 8.3.8.1. Participant's Overview
- 8.3.8.2. Financial Performance
- 8.3.8.3. Product Benchmarking
- 8.3.8.4. Strategic Initiatives
- 8.3.9. Datamars
- 8.3.9.1. Participant's Overview
- 8.3.9.2. Financial Performance
- 8.3.9.3. Product Benchmarking
- 8.3.9.4. Strategic Initiatives
- 8.3.10. Pethealth Inc
- 8.3.10.1. Participant's Overview
- 8.3.10.2. Financial Performance
- 8.3.10.3. Product Benchmarking
- 8.3.10.4. Strategic Initiatives
- 8.4. Strategy Mapping
- 8.4.1. Mergers & Acquisitions
- 8.4.2. Partnerships & Collaborations
- 8.4.3. Expansion
- 8.4.4. Product launch
- 8.4.5. Product Approval
- 8.4.6. Others
- 8.5. List of Databases