The Veterinary Monitoring Equipment Market size is estimated to be USD XX million in 2020 and is projected to register a CAGR of XX to reach USD XX million by 2028. Veterinary monitoring equipment are used to monitor animal respiration, blood pressure, and other vital signs. Veterinary surveillance software is used to monitor animals for early-stage disease detection in order to avoid any risks. Veterinary monitoring equipment industry comprises companies that produce monitoring equipment for the identification of diseases affecting animals.
FIGURE 1: VETERINARY MONITORING EQUIPMENT MARKET
Veterinary monitoring equipment is a system used to measure the vital signs in order to avoid any anesthetic risk. The veterinary monitoring equipment market has experienced rapid growth due to factors such as increased spending on animal welfare and growing demand for pet insurance.
Increased animal testing, growth of the companion market, and an increase in the number of veterinarians are the driving factors for the global Veterinary monitoring equipment market. However, the unavailability of trained veterinarians and a rise in the cost of pet treatment are expected to restrain the growth of the market.
Veterinary devices are used for the surveillance, surgery, and treatment of animal diseases. Growing expenditure on animal health, rising demand for veterinarians in developing regions, and a rise in the market for service animals are the key drivers for the global market for veterinary equipment. The increase in the number of veterinary practitioners and increasing income levels in developing economies are also contributing to the growth of the target market.
The rising prevalence of animal diseases and the growth of companion animal population, along with an increase in the population of livestock and increasing awareness about veterinary practitioners, are also increasing the demand for veterinary monitoring equipment.
FIGURE 2: VETERINARY MONITORING EQUIPMENT MARKET SEGMENTATION
The global veterinary monitoring equipment market has been segmented by type and target area, animal type, and end-user.
By type, the demand for veterinary monitoring equipment has been segmented into vital sign monitors, anaesthesia monitors, capnography & oximetry devices, ECG & EKG monitors, MRI systems, and other equipment. The vital sign monitoring segment accounted for the largest market share in 2018 due to the growing focus on companion animal health, combined with the need for continuous surveillance to prevent serious illnesses, increasing spending on pet care, and technological advances.
By application, the veterinary monitoring equipment market is segmented as cardiology, neurology, respiratory disorders, weight and temperature monitoring, multi-parameter monitoring, and other focus areas (including dentistry, pain, trauma, gynaecology, orthopaedics, and ophthalmology). The market was dominated by the weight and temperature monitoring segment due to the need for effective monitoring of weight and temperature for disease detection, monitoring of progression and response to treatment, and checking both fluid retention & overload in animals during the assessment of hydration levels.
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 accounted for the largest share of the market for veterinary monitoring equipment due to the increasing adoption of companion animals, increasing emphasis on safety, increased spending on animal welfare & preventive care, ageing pet population, and advances in animal health products.
FIGURE 3: VETERINARY MONITORING EQUIPMENT MARKET (USD MILLION), BY END-USER
Based on end-user, the market is segmented into veterinary clinics, veterinary hospitals, and research institutes. A large share of the veterinary clinics and diagnostic centers and veterinary hospitals can be attributed to the rising number of patient visits and the increasing number of private clinical practises.
By region, the global veterinary monitoring equipment market is segmented as North America, Europe, Asia Pacific, Middle East & Africa, and South America. The Asia Pacific region is anticipated to hold the largest share in the global veterinary monitoring equipment market in 2020 and is projected to grow at a moderate CAGR during the forecast period. This market is mainly dominated by China, Japan, India, and South Korea.
The increase in the number of livestock in North America (primarily due to increased consumption of meat and dairy products) and a rise in the pet insurance industry are responsible for a significant market share of North America.
- In April 2019, Agfa signed an agreement with Universal Imaging, a multi-modal veterinary company, to provide high-quality low-dose imaging in the North American veterinary industry. This has allowed Agfa to grow its presence in the U.S. and Canadian veterinary supply markets.
- In December 2018, Henry Schein, Inc. and Vets First Choice were rebranded by the corporation and changed their name to Covetrus, as a result of the expected spin-off of the Henry Schein Animal Health sector and the resulting merger with Vets First Choice.
What does This Report Provide?
This report provides a detailed understanding of the global veterinary monitoring equipment demand from a qualitative and quantitative perspective with a forecast for the next 10 years. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the global Veterinary Monitoring Equipment market. The major market drivers, challenges, and opportunities for the global Veterinary Monitoring Equipment market have also been covered in the report. This report further includes the market share of the leading companies operating in the veterinary monitoring equipment market, along with their production capacities and the growth strategies adopted by them.
- Vital Sign Monitors
- Anaesthesia Monitors
- Capnography & Oximetry Systems
- ECG & EKG Monitors
- MRI Systems
- Other Equipment
By Target Area:
- Respiratory Disorders
- Weight & Temperature Monitoring
- Multi-parameter Monitoring
- Other Target Areas
By Animal Type:
- Small Companion Animals
- Other Small Animals
- Large Animals
- Other Large Animals
- Other Animals
- Veterinary Clinics & Diagnostic Centres
- Veterinary Hospitals
- Research Institutes
North America Veterinary Monitoring Equipment Market
- North America, by Country
- North America, by Type
- North America, by Target Area
- North America, by Animal Type
- North America, by End User
Europe Veterinary Monitoring Equipment Market
- The Netherlands
- Rest of Europe
- Europe, by Type
- Europe, by Target Area
- Europe, by Animal Type
- Europe, by End User
Asia Pacific Veterinary Monitoring Equipment Market
- South Korea
- Rest of Asia Pacific
- Asia Pacific, by Type
- Asia Pacific, by Target Area
- Asia Pacific, by Animal Type
- Asia Pacific, by End User
Middle East & Africa Veterinary Monitoring Equipment Market
- Middle East & Africa, by Country
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Middle East & Africa, by Type
- Middle East & Africa, by Target Area
- Middle East & Africa, by Animal Type
- Middle East & Africa, by End User
South America Veterinary Monitoring Equipment Market
- South America, by Country
- Rest of South America
- South America, by Type
- South America, by Target Area
- South America, by Animal Type
- South America, by End User
Major Companies: In this report, the following major companies are studied: Smiths Group plc. DRE Veterinary, Digicare Biomedical Technology, Midmark Corporation, Medtronic plc. (Ireland), Bionet America, Inc. , SonoScape Medical Corporation , Hallowell EMC , MinXray, Inc. , Hallmarq Veterinary Imaging Ltd. , Esaote S.p.A , Agfa-Gevaert N.V. , Nonin Medical, Inc. , Shenzhen Mindray Bio-Medical Electronics Co., Ltd. , Covetrus, Inc. , Vetland Medical Sales & Services LLC , Masimo Corporation , Burtons Medical Equipment Ltd. , Vetronic Services , IMV Technologies, and others.
Objectives of This Report:
- To estimate the market size for the veterinary monitoring equipment market on a regional and global basis.
- To identify major segments in the veterinary monitoring equipment market and evaluate their market shares and demand.
- To provide a competitive scenario for the veterinary monitoring equipment market with major developments observed by key companies in the historic years.
- To evaluate key factors governing the dynamics of veterinary monitoring equipment market with their potential gravity during the forecast period.
- To evaluate the leading company-wise pricing analysis for the mentioned applications
This study is customized to meet your specific requirements:
- By sub-segment
- By client specific country, type, and application market analysis
- Pricing analysis along with the potential list of customers
- Product specific competitive analysis
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