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What Is the Estimated Market Size of the Veterinary Patient Monitoring Equipment Market In 2029?

The market size for veterinary patient monitoring equipment has been on an upward growth trajectory recently. Its market value is predicted to escalate from $0.67 billion in 2024 to $0.73 billion in 2025, with a compound annual growth rate (CAGR) of 8.7%. The expansion observed in the historic period is linked to the surge in pet ownership and treatment of pets as family members, increasing incidence of lifelong diseases in pets, understanding the importance of veterinary patient monitoring, and governmental initiatives.

What Growth Rate Is Forecasted for the Veterinary Patient Monitoring Equipment Market by 2029?

The market size for veterinary patient monitoring equipment is predicted to witness solid expansion in the forthcoming years, reaching a valuation of $1 billion in 2029, journeying at a compound annual growth rate (CAGR) of 8.1%. This anticipated growth during the forecast period can be credited to factors such as the escalation in expenses related to pet healthcare, the introduction of veterinary telemedicine, the globalization of veterinary services, an increased need for personalized veterinary care, and the rising fame of pet insurance. Prevailing trends during this projected period comprise technological advancements, the advent of wearable monitoring gadgets, remote monitoring and telehealth, wireless connectivity, and eco-friendly monitoring.

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Which Key Companies Are Shaping the Future of 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 Factors Are Driving Demand in the Veterinary Patient Monitoring Equipment Industry?

The surge in disease rates among animals serves as a key growth stimulant for the veterinary patient monitoring equipment market. The growing instances of sickness in livestock and pets necessitate the use of monitoring equipment for disease diagnosis. For instance, in July 2023, the World Health Organization, a UN specialized agency responsible for worldwide public health and based in Switzerland, reported instances of the highly toxic H5N1 avian influenza in 67 countries across five continents, resulting in the slaughter or death of approximately 131 million farmed birds due to disease or culling in affected farms and neighborhoods in 2022. This growing frequency of animal diseases escalates the demand for superior veterinary patient monitoring equipment in the market.

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How Is the Veterinary Patient Monitoring Equipment Market Segmented by Several Divisions?

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

What are the Emerging Market Trends Driving the Growth of the Veterinary Patient Monitoring Equipment Industry?

The adoption of wearable technology by veterinarians and owners of pets or livestock is growing in order to monitor animal behavior. These smart electronic devices, which can be worn on the body or set into clothing or accessories, track body temperature, behavior, and movement. These wearable monitoring tools offer real-time insights into an animal’s overall health, aiding veterinarians in making a correct diagnosis. For example, Vetrax, a wearable sensor fitted on a dog’s collar, empowers vets and pet owners to keep tabs on an animal’s behaviour when unsupervised. Veterinary Practice News reports that 83% of pet owners are happy with using wearable technology, and 68% consider it an effective method for keeping a close eye on their pets’ weight and diabetes.

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Which Regions Are Driving Growth in 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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This Report Delivers Insight On:

1. How big is the veterinary patient monitoring equipment market, and how is it changing globally?

2. Who are the major companies in the veterinary patient monitoring equipment market, and how are they performing?

3. What are the key opportunities and risks in the veterinary patient monitoring equipment market right now?

4. Which products or customer segments are growing the most in the veterinary patient monitoring equipment market?

5. What factors are helping or slowing down the growth of the veterinary patient monitoring equipment market?

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