The global Veterinary Microchips Market was valued at USD 686.3 million in 2023, projected to reach USD 1637.41 million by 2032, with a CAGR of 10.16%. Growth is driven by increased pet safety awareness, lost pet cases, and regulatory mandates for pet identification. Adoption is also rising due to technology integration with digital pet management systems.

In the U.S., the veterinary microchips market was valued at USD 191.07 million in 2023, expected to reach USD 385.77 million by 2032, with a CAGR of 9.18%. The U.S. market benefits from proactive legislation, advanced veterinary infrastructure, and integration into broader pet care ecosystems.

Dogs contributed over 44% of the global veterinary microchips market share in 2023, with cats being the fastest-growing segment due to legal requirements in places like the UK and Australia. 134.2 KHz scanners dominated the market, while multi-frequency scanners are the fastest growing due to their flexibility.

North America held 34% of the veterinary microchips market share in 2023, driven by high pet ownership, strict ID tagging rules, and government campaigns. Asia-Pacific is the fastest-growing region, driven by increasing pet adoption and focus on safeguarding livestock.

Recent developments include Datamars acquiring Kippy S.r.l. and the UK making microchipping for pet cats compulsory in March 2023. The market segmentation includes animal type, distribution channel, and scanner type. Key companies in the market include Allflex Livestock Intelligence, Datamars Pet ID, and AdvaCare Pharma.

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Read more at GlobeNewswire: Veterinary Microchips Market to Reach USD 1637.41 Million