North America Patient (Veterinary) Monitoring Devices Market Size to hit USD 189.22 Million by 2025

The North America patient (veterinary) monitoring devices market is booming on the back of the increasing use of the patient monitoring devices in careful monitoring during the recovery period so as to ensure the animal's safety. These diagnostic devices are used for the monitoring of various pets as well as wildlife animal population and have an increased demand in the North America region owing to the increased adoption of companion animals and pet healthcare spending across the region.

These factors are predicted to benefit the expansion of the North America patient (veterinary) monitoring devices market by reaching USD 189.22 Million by the end of 2025 from USD 115.38 Million in 2013, by expanding at a CAGR of 4.5% over the forecast period 2018-2025. Further, increasing awareness about animal health and ailments along with the growing number of animal diseases are estimated to be the key growth drivers for the North America veterinary patient monitoring devices market over the forecast period.

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The North America Patient (veterinary) Monitoring Devices Market is segmented by product type into cardiac monitoring, respiratory monitoring devices, hematological monitoring devices, anesthesia systems, renal function, telemetry devices, multi-parameter monitors and others, out of which the anesthesia systems monitoring devices held the dominating market share of around 30% during 2013 and with features such as electronic flow display and conventional flowmeter options, six ventilation modes, new top shelf with secure GCX mounting system for patient monitors, territory-specific electrical outlet options, they are making their way into the market.

Further, the cardiac monitoring devices segment held the second largest market share in 2013 and is predicted to cross USD 40 Million by the end of 2025 from USD 25.1 Million in 2013. The cardiac monitoring devices are further segmented into ECG, photo plethysmogram (PPG) and others. Preference for cardiac monitoring devices for their features such as customizable software, easily edited, analyzed, printed or shared via email or network server recordings, automated report generation and the entire process of optimization from recording to results is increasing among the consumer population.

Increase in Technological Advancements to Escalate the Demand for Veterinary Patient Monitoring Devices in Future

The North America patient (veterinary) monitoring device market is thriving on the back of increased precision of the devices that have not only led to better treatments but also faster and more accurate diagnosis as there are many new technologies that are giving veterinarians greater ability to diagnose and ultimately save sick animals.

Technological Superiority - There is an increase in technological superiority and serial assessment resulting in increased precision.

Government Policies - The non-requirement of pre-market approval for veterinary monitoring devices as well as exemption from post-marketing reporting is anticipated to increase the demand for veterinary patient monitoring devices.

Industry Players are Progressing towards Minimizing the Barriers faced by the North America Patient (Veterinary) Monitoring Device Market

According to Research Nester, the in-house monitoring is important but requires a dedicated device that costs money, and not all patients can have access to it which is anticipated to cause reduced adoption of these devices. The various cost constraints associated with the veterinary monitoring devices are anticipated to affect the veterinary patient (veterinary) monitoring device market negatively over the forecast period.

The report titled "North America Patient (Veterinary) Monitoring Devices Market Outlook: Industry Analysis & Opportunity Evaluation 2013-2025" delivers detailed overview of the North America patient (veterinary) monitoring devices market in terms of market segmentation by product type, animal, configuration, type, end-user and by country.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.

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This report also provides the existing competitive scenario of some of the key players of the North America patient (veterinary) monitoring devices market which includes company profiling of Smith's Medical, Bionet America Inc., Mindray, Welch Allyn, Midmark, Abaxis, Digicare Biomedical, DRE Veterinary Equipment, Grady Medical and HiggsB Medical.

The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the North America patient (veterinary) monitoring devices market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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