The veterinary patient monitoring equipment global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Veterinary Patient Monitoring Equipment Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The veterinary patient monitoring equipment market size has grown strongly in recent years. It will grow from $0.46 billion in 2023 to $0.49 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to increasing pet ownership and humanization of pets, rising prevalence of chronic diseases in pets, awareness of the benefits of veterinary patient monitoring, government initiatives.
The veterinary patient monitoring equipment market size is expected to see strong growth in the next few years. It will grow to $0.64 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to rising pet healthcare expenditure, veterinary telemedicine, globalization of veterinary services, rising demand for personalized veterinary care, growing popularity of pet insurance. Major trends in the forecast period include advancements in technology, wearable monitoring devices, remote monitoring and telehealth, wireless connectivity, eco-friendly monitoring.
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Scope Of Veterinary Patient Monitoring Equipment Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Veterinary Patient Monitoring Equipment Market Overview
Market Drivers –
An increase in the prevalence rate of diseases among animals serves as one of the major drivers for the veterinary patient monitoring equipment market. An increase in the incidence of diseases in livestock and companion animals will require monitoring equipment to diagnose the diseases in animals. For instance, in July 2023, according to the World Health Organization, a Switzerland-based United Nations’ specialized organization with oversight of global public health, WOAH received reports of H5N1 high toxicity avian influenza outbreaks in chickens and wild birds from 67 nations on five continents, with approximately 131 million farmed fowl destroyed due to illness or culling in affected farms and neighborhoods in 2022. The increase in the prevalence rate of diseases for animals results in an increased demand for enhanced veterinary patient monitoring equipment market.
Market Trends –
Veterinarians and pet or cattle owners are shifting to wearable technology to keep track of animal behavior. Wearable technology is smart electronic devices that are worn on the body or integrated with clothing or accessories and monitor body temperature, behavior, and movement. These wearable monitoring devices provide timely insights regarding the overall health of the animal and help the veterinarian provide an appropriate diagnosis for the animal. For instance, Vetrax, a wearable sensor worn on a dog’s collar, enables clinicians and pet owners to monitor aspects of an animal’s behaviour when they are unsupervised. According to a report by Veterinary Practice News, 83% of pet owners are satisfied with the use of wearable technology and 68% find it an effective way of monitoring the weight and diabetes of their pets.
The veterinary patient monitoring equipment market covered in this report is segmented –
1) By Product: Cardiac Monitoring Devices, Respiratory Monitoring Devices, Remote Patient Monitoring Devices, Multi-Parameter Monitoring Devices, Neuromonitoring Devices, Other Products
2) By Animal: Small Companion Animals, Large Companion Animals, Wild Animals, Zoo Animals, Aquatic Animals, Exotic Animals
3) By End User: Veterinary Hospitals, Veterinary Clinics, Veterinary Research Centers
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Regional Insights –
North America was the largest region in the veterinary patient monitoring market in 2023. Asia-Pacific was the second-largest region in the global veterinary patient monitoring market share. The regions covered in the veterinary patient monitoring equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Key Companies –
Major companies operating in the veterinary patient monitoring equipment market include Smiths Group plc, Hallowell Engineering & Manfufacturing Corporation, DRE Veterinary, Digicare Biomedical Technology Inc., Midmark Corporation, Medtronic plc., Jorgensen Laboratories, Vetland Medical Sales and Services LLC, Jorgen Kruuse A/S, Mila International Inc., Mindray Medical International Limited, Nonin Medical, B. Braun Melsungen AG, Henry Schein, Infiniti Medical LLC, 3M, Carestream Health, IDEXX Laboratories Inc., Agfa Healthcare, MinXray Inc., Diagnostic Imaging Systems, GE Healthcare, Esaote S.p.A, Shenzhen Comen Medical Instruments Co. Ltd., Lepu Medical, ALPHATEC, Shenzhen Witleaf Medical Electronics CO. Ltd, CONTEC Medical, Datex-Ohmeda, Respironics, VetSpecs Inc., Digicare Animal Health, Burtons Medical Equipment Ltd, Avante Animal Health, Cardiac Science Corporation, Bionet America Inc., Burdick, Criticare Systems Inc., Datascope Corp., Edan Instruments Inc., Masimo Corporation, Nihon Kohden Corporation
Table of Contents
1. Executive Summary
2. Veterinary Patient Monitoring Equipment Market Report Structure
3. Veterinary Patient Monitoring Equipment Market Trends And Strategies
4. Veterinary Patient Monitoring Equipment Market – Macro Economic Scenario
5. Veterinary Patient Monitoring Equipment Market Size And Growth
…..
27. Veterinary Patient Monitoring Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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