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 growth of this market is primarily attributed to factors such as the increasing awareness regarding animal health, increasing focus on animal health among pet owners, growing prevalence of diseases among companion animals, 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. The need for continuous pet health evaluation & diagnosis and wearable monitoring devices are gaining recognition as opportunity areas in the market.

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Browse in-depth TOC on “Veterinary Monitoring Equipment Market”

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Key Market

By type, vital sign monitors dominated the veterinary monitoring equipment market

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The weight & temperature monitoring segment accounted for the largest share of the veterinary monitoring equipment market

Small companion animals formed the largest animal type segment of veterinary monitoring equipment

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). In 2018, small companion animals accounted for the largest share of the veterinary monitoring equipment market, due to the increasing adoption of companion animals, increased focus on safety, increased expenditure on animal health & preventive care, aging pet population, and advancements in animal health products.

In 2018, North America accounted for the largest share of the veterinary monitoring equipment market.

In 2018, North America dominated the global veterinary monitoring equipment market, followed by Europe. The large share of North America can be attributed to the increasing population of companion animals, rising veterinary healthcare expenditure, growing population of livestock (due to the high and growing consumption of meat and dairy products), and growing penetration of pet insurance in the region.

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Recent Developments:

• In April 2019, Agfa signed an agreement with Universal Imaging, a multi-modality veterinary provider, to provide high-quality, low-dose imaging in the North American veterinary market. This helped Agfa extend its footprint in the US and Canadian markets for veterinary supplies.
• In December 2018, Henry Schein, Inc. and Vets First Choice underwent a corporate rebranding and changed its name to Covetrus, as a result of the planned spin-off of the Henry Schein Animal Health business and the subsequent merger with Vets First Choice.
• In October 2018, Midmark Corporation (US) opened its new corporate headquarters at Austin Landing, strengthening its position in the healthcare industry in this region.

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Related Report:

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