Veterinary Telemetry Systems Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.90 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Veterinary Telemetry Systems Market Analysis
The veterinary telemetry systems market is expected to register a CAGR of around 7.9% over the forecast period.
- The emergence of COVID-19 during the year 2020 has affected the market studied significantly due to the lockdown across the major countries around the globe. However, currently, the market is gaining momentum and is believed to witness significant growth over the forecast period. As per the article published in Consumer News and Business Channel (CNBC) in 2020, animal rescues and adoptions spiked during the initial days of the pandemic. However, the need for vaccination, neutering programs, and frequent veterinary doctor visits during the COVID-19 pandemic have been considered to restrict continued pet adoption during the pandemic.
- Additionally, according to the study published in the Journal of Zoological and Botanical Gardens in March 2021, there is a need to have an increased understanding of the impact of closures and reopenings on animal behavior, thereby broadening understanding of whether zoo animals habituate to visitors. Such instances to understand animal behavior has led to the increased adoption of veterinary telemetry post-pandemic.
- The veterinary telemetry market is majorly driven by the factors such as increasing demand for remote monitoring in veterinary practice and technological advancements in veterinary healthcare. In addition, pet ownership has been growing globally, especially in the Southeast Asian region.
- According to the American Society for the Prevention of Cruelty to Animals in 2023, every year, around 6.3 million companion animals are brought into animal shelters in the United States including 3.1 million dogs and 3.2 million cats. Moreover, as per December 2021 published in Frontiers in Veterinary Science, the estimated number of dogs in Thailand was 12.8 million heads, including 11.2 million owned dogs. Thus, the adoption of pets among the population globally is increasing the demand for pet monitoring which is believed to propel the market growth.
- In addition, rising technological innovations and initiatives from the key market players are further expected to drive market growth. For instance, in December 2021, The Link Smart Pet Wearable by Smart Tracking Technologies, LLC launched a series of dog obedience instructional videos to complement the remote tone and vibration tools of the device. The training tools are an important part of the complete pet ecosystem offered by the company. Such technological innovations in telemetry devices help in increased adoption to control pets, driving market growth.
- Therefore, factors such as rising pet adoption, the surge in demand for remote veterinary monitoring, rising initiatives, and technological advancements from the market players are all expected to drive market growth. However, the high cost of equipment is expected to hinder market growth.
Veterinary Telemetry Systems Market Trends
Wearables are Expected to Witness Significant Growth Over the Forecast Period
- Pet wearables refer to devices worn on the pet's body to serve various purposes, such as identification, tracking, monitoring, controlling, medical diagnosis, treatment, facilitation, safety, and security. One of the most common uses of pet wearables, such as smart collars, is tracking the whereabouts of pet animals.
- With the help of wearables, owners not only track their pets but also help other people identify pets that have strayed off and return them to their rightful owners. Owners can track the location of their pets and identify them easily within a limited time by using their smartphones. The advantages of wearable identification and tracking are expected to drive segment growth during the forecast period.
- Rising initiatives from the key market players in the launch of their products, such as pet wearable devices, will also bolster segment growth. For instance, in July 2021, Whistle launched its newest pet wearable, The Whistle Switch Smart Collar, a total health and fitness tracking and 24/7 GPS location monitoring device to help pet owners understand the key health indicators of their pets. Such initiatives help in the increased adoption of pet wearable devices, driving the segment's growth.
- With the advancements in telemetry, veterinary telemetry devices are largely being used in veterinary practices due to their profound importance. For instance, according to the study published in Science Direct in September 2021, wearable veterinary devices move the field away from a reactive healthcare system toward a proactive culture that can spot diseases early and enable veterinarians to remotely monitor a patient's vital signs in addition to other factors.
- The way veterinarians acquire and use patient data to perform medicine may be significantly altered by advancements in this technology. Such studies show the importance of wearable devices in veterinary healthcare, driving the segment growth.
- With the development of technologically advanced wearable devices hand in hand with the importance of wearable devices in veterinary healthcare, the segment is believed to witness strong growth over the forecast period.
North America is Expected to Witness Strong Share in the Veterinary Telemetry Market During the Forecast Period
- In the North American region, the United States is believed to hold a significant share of the veterinary telemetry systems market. The growing awareness among pet owners about pet monitoring in the United States is one of the major factors driving the growth of the market in the country.
- The growing pet population in North America, with an increase in spending on pet care, is fueling the market growth. For instance, according to the 2021-2022 National Pet Owners Survey conducted by the American Pet Products Association (APPA), 70% of United States households own a pet, which equates to 90.5 million homes. In addition, according to the same source, during 2021-2022, around 69 million United States households owned a dog, and 45.3 million families owned a Cat, among other pet animals.
- Besides that, according to the Canadian Animal Shelter Statistics Report 2021, the number of cats and dogs that entered humane societies and SPCA shelters in 2021 were dogs (20,974) and cats (60,677). Therefore, such a huge adoption of pets may drive the growth of the veterinary telemetry market in the longer-term process in the region during the forecast period.
- Moreover, the rising initiatives from the key market players in the region are further expected to bolster market growth. For instance, in July 2021, Sure Petcare launched FELAQUACONNECT, a unique water delivery and drinking monitoring system for cats. The smart water delivery system of FELAQUACONNECT, created in partnership with top veterinarian behaviorists, gives cats a source of fresh water while allowing cat owners to monitor their cats' daily water intake via the SURE PETCARETM App.
- Hence, looking at the high pet adoption in the country and the well-established veterinary healthcare system, the United States is expected to witness a strong share in the veterinary telemetry market.
Veterinary Telemetry Systems Industry Overview
The veterinary telemetry systems market is moderately competitive, with a presence of key global companies across various regions. The factors owing to the competition include the rising technological innovations in veterinary telemetry products and rising initiatives such as the launch of products, among others. Some of the companies operating in the market include Medtronic, Masimo, Shenzhen Mindray Animal Medical Technology Co., LTD., and Nonin, among others.
Veterinary Telemetry Systems Market Leaders
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Masimo
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Medtronic
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Nonin
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Bionet
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Shenzhen Mindray Animal Medical Technology Co., LTD.
*Disclaimer: Major Players sorted in no particular order
Veterinary Telemetry Systems Market News
- January 2023: Zomedica Corp. entered a collaboration with Structured Monitoring Products, Inc. (SMP) to begin commercializing the revolutionary VetGuardian zero-touch vital signs remote monitoring system for veterinary professionals.
- December 2022: ALR Technologies SG Ltd entered into a co-branded distribution agreement with Covetrus Inc. for the distribution of ALRT's GluCurve Pet CGM, a continuous glucose monitoring system for diabetic cats and dogs.
Veterinary Telemetry Systems Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Increasing Demand for Remote Monitoring in Veterinary Care
- 4.2.2 Technological Advancements in Veterinary Healthcare
-
4.3 Market Restraints
- 4.3.1 High Cost of Equipment
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
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5.1 By Product
- 5.1.1 Vital Signs Monitors
- 5.1.2 ECG/EKG Monitors
- 5.1.3 Wearables
- 5.1.4 Anesthesia Machines
- 5.1.5 Other Products
-
5.2 By Application
- 5.2.1 Respiratory
- 5.2.2 Cardiology
- 5.2.3 Neurology
- 5.2.4 Other Applications
-
5.3 By End-User
- 5.3.1 Veterinary Hospitals and Veterinary Clinics
- 5.3.2 Other End Users
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 South Korea
- 5.4.3.5 Australia
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle-East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle-East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Avante Animal Health (DRE Veterinary)
- 6.1.2 Shenzhen Mindray Animal Medical Technology Co., LTD.
- 6.1.3 Nonin Medical, Inc.
- 6.1.4 Medtronic
- 6.1.5 Masimo
- 6.1.6 Dextronix, Inc.
- 6.1.7 Digicare Biomedical Technology
- 6.1.8 Midmark Corporation
- 6.1.9 Smiths Medical (ICU Medical)
- 6.1.10 Bionet America, Inc.
- 6.1.11 Merck & Co.
- 6.1.12 WHISTLE
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Veterinary Telemetry Systems Industry Segmentation
As per the scope of this report, veterinary telemetry is a sophisticated animal health technology that uses real-time data to track the. Movements, behaviors, and vital signs of animals as they move through their wild habitats, interact. With stimulus in a clinical setting or undergo veterinarian treatments.
The veterinary telemetry systems market is segmented by product (vital signs monitors, ECG/EKG monitors, wearables, anesthesia machines, others), application (respiratory, cardiology, neurology, and others), end users (veterinary hospitals and veterinary clinics, other end users), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally.
The report offers the value (in USD million) for the above segments.
| By Product | Vital Signs Monitors | |
| ECG/EKG Monitors | ||
| Wearables | ||
| Anesthesia Machines | ||
| Other Products | ||
| By Application | Respiratory | |
| Cardiology | ||
| Neurology | ||
| Other Applications | ||
| By End-User | Veterinary Hospitals and Veterinary Clinics | |
| Other End Users | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| South Korea | ||
| Australia | ||
| Rest of Asia-Pacific | ||
| Geography | Middle-East and Africa | GCC |
| South Africa | ||
| Rest of Middle-East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Veterinary Telemetry Systems Market Research FAQs
What is the current Veterinary Telemetry Systems Market size?
The Veterinary Telemetry Systems Market is projected to register a CAGR of 7.90% during the forecast period (2024-2029)
Who are the key players in Veterinary Telemetry Systems Market?
Masimo, Medtronic, Nonin, Bionet and Shenzhen Mindray Animal Medical Technology Co., LTD. are the major companies operating in the Veterinary Telemetry Systems Market.
Which is the fastest growing region in Veterinary Telemetry Systems Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Veterinary Telemetry Systems Market?
In 2024, the North America accounts for the largest market share in Veterinary Telemetry Systems Market.
What years does this Veterinary Telemetry Systems Market cover?
The report covers the Veterinary Telemetry Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Veterinary Telemetry Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Veterinary Telemetry Systems Industry Report
Statistics for the 2024 Veterinary Telemetry Systems market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Veterinary Telemetry Systems analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
