How is the Veterinary Patient Monitoring Equipment Market Poised for Growth: Trends and Opportunities Through 2034
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How has the veterinary patient monitoring equipment market size evolved in recent years?
In recent times, the veterinary patient monitoring equipment market has witnessed significant growth. The market size is set to increase from $0.67 billion in 2024 to $0.73 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 8.7%. The surge observed in the historic period can be credited to the rise in pet ownership and viewing pets as family members, an increase in chronic ailments in pets, growing awareness about the advantages of veterinary patient monitoring, and government initiatives.
What are the predictions for the veterinary patient monitoring equipment market size in the coming years?
The market size for veterinary patient monitoring equipment is predicted to experience significant expansion in the coming years, with projections showing it reaching a value of $1 billion by 2029, accruing a compound annual growth rate (CAGR) of 8.1%. The projected growth within the forecast period can be linked to factors such as the increasing expenditure on pet healthcare, the rise of veterinary telemedicine, the expansion of veterinary services globally, a soaring demand for personalized veterinary care, and an increasing trend towards pet insurance. The forecast period is also expected to witness key trends such as technological advancements, the rise of wearable monitoring devices, remote monitoring systems and telehealth, wireless connectivity, and a preference for ecologically friendly monitoring.
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What key factors are fueling the growth of the veterinary patient monitoring equipment market?
One of the primary factors propelling the growth of the veterinary patient monitoring equipment market is the escalating disease prevalence among animals. As the occurrence of diseases rises in livestock and pet animals, there is an increased need for monitoring equipment to detect these diseases. For instance, in July 2023, the World Health Organization, a Switzerland-based United Nations’ public health agency, received reports of H5N1 high-pathogenic avian influenza outbreaks impacting chickens and wild birds from 67 countries across five continents. This resulted in roughly 131 million domestic birds being eradicated due to sickness or culling in afflicted farms and communities in 2022. Consequently, this surge in animal disease prevalence leads to an amplified demand for advanced veterinary patient monitoring equipment in the market.
How is the global veterinary patient monitoring equipment market divided into key segments?
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
Subsegments:
1) By Cardiac Monitoring Devices: ECG Or EKG Monitors, Heart Rate Monitors, Pulse Oximeters, Blood Pressure Monitors
2) By Respiratory Monitoring Devices: Capnography Monitors, Pulse Oximeters, Respiratory Rate Monitors, Spirometers
3) By Remote Patient Monitoring Devices: Wearable Monitors, Telemedicine Systems, Mobile Health Devices
4) By Multi-Parameter Monitoring Devices: Infusion Pumps, Vital Sign Monitors, Multivariable Monitors
5) By Neuromonitoring Devices: EEG Monitors, BIS Monitors, Evoked Potential Monitors
6) By Other Products: Temperature Monitors, Fetal Monitors, Glucose Monitoring Devices
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Who are the key firms paving the way for growth in the veterinary patient monitoring equipment market?
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
Which trends are expected to transform the veterinary patient monitoring equipment market?
There is a growing trend among veterinarians and owners of pets or livestock to adopt wearable technology as a means of observing animal behavior. These smart electronic devices are either worn on the animal’s body or integrated into their clothing or accessories, and can monitor variables such as body temperature, behavior, and movement. Such devices provide timely data about the animal’s overall health, assisting veterinarians in making a correct diagnosis. For example, Vetrax, a sensor worn on a dog’s collar, allows both vets and pet owners to keep an eye on an animal’s behavior when left alone. As per a Veterinary Practice News report, 83% of pet owners approve of using this technology, and 68% believe it is an effective method of tracking their pets’ weight and managing their diabetes.
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What regions are contributing significantly to the growth of the veterinary patient monitoring equipment market?
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.
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