Veterinary Patient Monitoring Equipment Market Witnesses Strong Growth, Poised to Reach $0.64 Billion by 2028

The Veterinary Patient Monitoring Equipment market has exhibited robust growth, increasing from $0.46 billion in 2023 to a projected $0.49 billion in 2024, reflecting a commendable Compound Annual Growth Rate (CAGR) of 6.8%. Forecasts predict sustained momentum, with the market set to escalate to $0.64 billion by 2028, maintaining a steady CAGR of 6.8%.

Driving Forces for Market Surge:

Rising Rate of Diseases:
One of the key catalysts propelling the veterinary patient monitoring equipment market is the escalating prevalence of diseases among animals. The surge in disease incidence in both livestock and companion animals necessitates sophisticated monitoring equipment for accurate diagnosis. Reports from the World Health Organization underscore the global impact of diseases, driving the demand for enhanced veterinary patient monitoring equipment.

Pet Boom Fostering Growth:
The growing number of pets is anticipated to drive the expansion of the veterinary patient monitoring equipment market. The increasing awareness among pet owners regarding the necessity for regular check-ups and preventive treatments for their pets has led to a surge in demand for veterinary patient monitoring technology. The rising popularity of companion animals, particularly dogs and cats, has significantly contributed to the market's growth.

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Key Market Players:
Major contributors shaping the Veterinary Patient Monitoring Equipment market landscape include 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.

Revolutionizing Animal Healthcare with Wearable Technology:
A paradigm shift is observed in animal healthcare, with the adoption of wearable technology by veterinarians and pet owners to monitor animal behavior. Wearable technology, encompassing smart electronic devices, offers insights into an animal's body temperature, behavior, and movement, aiding veterinarians in providing accurate diagnoses. The satisfaction levels among pet owners regarding wearable technology indicate its effectiveness in monitoring the health of pets.

Innovative Collaborations in the Veterinary Patient Monitoring Equipment Market:
Key players in the veterinary patient monitoring equipment market are actively engaging in strategic partnerships to better cater to consumer needs. The collaboration between Mella Pet Care and PetHub, Inc. exemplifies such partnerships, facilitating seamless data exchange between the Mella app and PetHub, Inc. This integration streamlines the maintenance of consistent and up-to-date pet health data, empowering pet owners with more control.

Regional Dominance and Market Segmentation:
In 2023, North America emerged as the largest region in the Veterinary Patient Monitoring Equipment market, with Asia-Pacific securing the second-largest position.

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

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Veterinary Patient Monitoring Equipment Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Veterinary Patient Monitoring Equipment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on veterinary patient monitoring equipment market size, veterinary patient monitoring equipment market drivers and trends, veterinary patient monitoring equipment market major players, competitors' revenues, veterinary patient monitoring equipment market positioning, and market growth across geographies. The veterinary patient monitoring equipment market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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