Global Veterinary Monitoring Equipment Industry Outlook, 2020-2025 - Rising Adoption of Wearable Devices & Telemedicine

DUBLIN, June 2, 2020 /PRNewswire/ -- The "Veterinary Monitoring Equipment Market by Type (Vital Signs Monitor, Anesthesia Monitor, ECG Monitor), Target Area (Respiratory diseases, Weight Monitoring), Animal Type (Dogs, Cats, Equines), End User (Veterinary Clinic), Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global veterinary monitoring equipment market is projected to reach USD 570 million by 2025 from USD 326 million in 2019, at a CAGR of 9.8%.

The increasing focus on animal health among pet owners and the growing prevalence of diseases among companion animals are the key factors driving market growth. Also, the growing companion animal population, rising demand for pet insurance, growing animal health expenditure, and the rising number of veterinary practitioners & income levels in developed economies are aiding the adoption of veterinary monitoring equipment.

The vital sign monitors segment is expected to grow at the highest rate during the forecast period.

On the basis of type, the veterinary monitoring equipment market segmented into vital sign monitors, anaesthesia monitors, capnography & oximetry systems, ECG & EKG monitors, MRI systems, and other equipment. The vital sign monitors segment is projected to witness the highest growth in the veterinary monitoring equipment market during the forecast period. The need for such monitors to decipher the overall health of the patient during regular check-ups, surgical procedures, pre-or post-surgery, and during anaesthetic use is expected to support market growth.

The small companion animals segment is expected to grow at the highest CAGR during the forecast period.

Based on animal type, the veterinary monitoring equipment market is segmented into small companion animals, large animals, and other animals (zoo animals, aquatic animals, and exotic animals). Small companion animals are further segmented into dogs, cats, and other small companion animals. Large animals are subsegmented into equines and other large animals. The small companion animals segment will continue to dominate the market by 2025, growing at the highest CAGR during the forecast period. Increasing adoption of companion animals, increased focus on safety, increased expenditure on animal health and preventive care, aging pet population, and advancements in animal health products are the major factors driving the growth of this market segment.

APAC is projected to witness the highest growth during the forecast period.

Although North America is expected to account for the largest share of the global veterinary monitoring equipment market in 2018, the APAC is expected to witness the highest CAGR during the forecast period. The large domesticated animal population, growth in pet adoption, increasing awareness about animal health, growing per capita animal health expenditure (especially in India and China), and the large market for livestock farming are propelling the growth of the APAC market.

Research Coverage

The report analyzes the market for various veterinary monitoring equipment and their adoption patterns. It aims at estimating the market size and future growth potential of the veterinary monitoring equipment market and its subsegments. The report also includes an in-depth competitive analysis of the key players in this market, along with their company profiles, product offerings, and recent developments.

The prominent players in the veterinary monitoring equipment market are Smiths Group plc. (UK), DRE Veterinary (US), Digicare Biomedical Technology (US), Midmark Corporation (US), Medtronic plc. (Ireland), Bionet America, Inc. (Korea), SonoScape Medical Corporation (China), Hallowell EMC (US), MinXray, Inc. (US), Hallmarq Veterinary Imaging Ltd. (UK), Esaote S.p.A (Italy), Agfa-Gevaert N.V. (Belgium), Nonin Medical, Inc. (US), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Covetrus, Inc. (US), Vetland Medical Sales & Services LLC (US), Masimo Corporation (US), Burtons Medical Equipment Ltd. (UK), Vetronic Services (UK), and IMV Technologies (France).

Market Dynamics

Drivers

• Growth in the Companion Animal Population
• Rising Demand for Pet Insurance & Growing Animal Health Expenditure
• Growth in the Number of Veterinary Practitioners and Income Levels in Developed Economies
• Growing Prevalence of Animal Diseases

Restraints

• Rising Pet Care Costs
• Alternatives to Animal Testing

Opportunities

• Untapped Emerging Markets
• Wearable Monitoring Systems for Animals

Challenges

• Low Animal Health Awareness and Inadequate Animal Testing Infrastructure in Several Countries
• Shortage of Veterinarians in Emerging Markets

Trends

• Rising Adoption of Wearable Devices & Telemedicine
• Growing Size of Veterinary Businesses

Companies Mentioned

• Agfa-Gevaert N.V.
• Bionet America, Inc.
• Burtons Medical Equipment Ltd.
• Covetrus, Inc.
• DRE Veterinary
• Digicare Biomedical Technology
• Esaote S.p.A.
• Hallmarq Veterinary Imaging Ltd.
• Hallowell EMC
• IMV Technologies
• Masimo Corporation
• Medtronic plc
• Midmark Corporation
• Minxray, Inc.
• Nonin Medical Inc.
• Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
• Smiths Group plc
• Sonoscape Medical Corporation
• Vetland Medical Sales & Services LLC
• Vetronic Services

For more information about this report visit https://www.researchandmarkets.com/r/3wugoe

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