The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s veterinary patient monitoring equipment market report forecasts the veterinary patient monitoring equipment market size to grow to $0.58 Billion by 2027, with a CAGR (compound annual growth rate) of more than 6%.

Learn More On The Veterinary Patient Monitoring Equipment Market Report 2023 – https://www.thebusinessresearchcompany.com/report/veterinary-patient-monitoring-equipment-global-market-report

Veterinary Patient Monitoring Equipment Market Size Forecast
The global veterinary patient monitoring equipment market is expected to grow from $0.42 billion in 2022 to $0.45 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global veterinary patient monitoring equipment market size is expected to grow from $0.58 billion in 2027 at a CAGR of 6.4%.

North America held the largest veterinary patient monitoring equipment market share.

Key Veterinary Patient Monitoring Equipment Market Driver ­– Increase In The Prevalence Rate Of Diseases Among Animals
For instance, according to the Banfield Pet Hospital’s 2020 Veterinary Emerging Topics (VET) Report, more than 50% of the dogs at 1,000 hospitals in 2019 were overweight or obese. Overweight pets are more likely to suffer from joint disease, respiratory disease, and other preventable conditions. The increase in the prevalence rate of diseases for animals results in an increased demand for enhanced veterinary patient monitoring equipment.

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Key Veterinary Patient Monitoring Equipment Market Trend – Shifting To Wearable Technology
Veterinarians and pet or cattle owners are shifting to wearable technology to keep track of animal behavior. Wearable technology is smart electronic devices that are worn on the body or integrated with clothing or accessories and monitor body temperature, behavior, and movement. These wearable monitoring devices provide timely insights regarding the overall health of the animal and help the veterinarian provide an appropriate diagnosis for the animal. For instance, Vetrax, a wearable sensor worn on a dog’s collar, enables clinicians and pet owners to monitor aspects of an animal’s behaviour when they are unsupervised. According to a report by Veterinary Practice News, 83% of pet owners are satisfied with the use of wearable technology and 68% find it an effective way of monitoring the weight and diabetes of their pets.

Veterinary Patient Monitoring Equipment Market Segment
1) By Product: Cardiac Monitoring Devices, Respiratory Monitoring Devices, Remote Patient Monitoring Devices, Multi-Parameter Monitoring Devices, Neuromonitoring Devices, Other Products
2) By End User: Veterinary Hospitals, Veterinary Clinics, Veterinary Research Centers
3) By Animal: Small Companion Animals, Large Companion Animals, Wild Animals, Zoo Animals, Aquatic Animals, Exotic Animals

Veterinary Patient Monitoring Equipment Market Major Players and Strategies
Major players in the veterinary patient monitoring equipment market are Smiths Group plc; Hallowell Engineering & Manufacturing 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.; and Mindray Medical International Limited.

In August 2020, Merck Animal Health, a US-based company specializing in veterinary products, technologies, and services, acquired IdentiGEN Ltd. for an undisclosed amount. Through this acquisition, Merck offers animal monitoring for food producers, processors, and retailers who are searching for precise and comprehensive animal traceability solutions that offer full accountability as well as increased transparency, food quality, and sustainability for consumers. In combination with Merck’s current identification and monitoring technology, which provides real-time, actionable data and insights to aid in, improve, or enhance animal management and health outcomes, the addition of specialized digital technology to our portfolio of medications, vaccines, and services offers comprehensive solutions to help advance animal health. IdentiGEN Ltd. is a land-based company pioneering in DNA-based analysis and diagnostics for animal health monitoring.

The Veterinary Patient Monitoring Equipment Global Market Report 2023 covers regional data on veterinary patient monitoring equipment market size, veterinary patient monitoring equipment market trends and drivers, opportunities, strategies, and veterinary patient monitoring equipment market competitor analysis. The countries covered in the veterinary patient monitoring equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Veterinary patient monitoring equipment refers to a type of devices and instruments that continuously track and record changes in patient wellbeing, monitor animals’ respiration, blood pressure, and other vital signs, and provide warning systems. These systems are used to continuously monitor the animals to detect diseases at early stages to prevent any risks.

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