Veterinary Monitoring Equipment Market: Introduction
- Monitoring is the regular observation and recording of activities and vitals when animals are under anesthesia and also identifying other disease conditions. This aids in preventing further complications when performing surgery. Hands-on monitoring devices are preferred by animal health professionals, owing to their effectiveness and simplicity.
- Veterinary patient monitors are devices that help assess the heart and respiratory rate of the veterinary patient, the blood pressure, and other vital parameters that aid in preventing veterinary risk
- Demand for these devices has been increasing significantly owing to various factors including rising animal health expenditure, increasing demand for pet insurance, and expansion of the companion market
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Key Drivers and Restraints of Global Veterinary Monitoring Equipment Market
- Technological advancements in veterinary monitoring devices, including the development of endoscopic intubation techniques, airway devices, invasive and noninvasive blood pressure monitors, and positive intermittent pressure ventilators, play a significant role in enhancing the anesthetic outcomes and patient safety of exotic animals. This further boosts the veterinary monitoring equipment market.
- Increase in prevalence of diseases among companion animals, combined with the rising awareness among people concerning animal health, increasing number of animal healthcare practitioners, and rising animal health expenditure, fuel the veterinary monitoring equipment market
- The vital signs monitor is anticipated to contribute significantly to the rise in demand for veterinary monitoring equipment owing to an increase in focus on companion animal health along with a rise in focus on continuous monitoring of the vitals to prevent serious illnesses
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North America to Lead Global Veterinary Monitoring Equipment Market
- In terms of region, the global veterinary monitoring equipment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- North America dominated the global veterinary monitoring equipment market in 2019, owing to the strong presence of leading market players, increasing investments in research & development, and rising prevalence of diseases among companion animals in the region. Furthermore, an increase in the number of people adopting pets and rise in animal healthcare expenditure further propel the market in the region.
- Europe followed North America in terms of share of the global veterinary monitoring equipment market in 2019. The market in Asia Pacific is projected to expand at a rapid pace, followed by Latin America and Middle East & Africa. Significant growth in livestock farming, increase in per capita animal health expenditure, rise in pet adoption, presence of large domesticated animal population, and increase in awareness among people about animal health are key factors driving the veterinary monitoring equipment market in Asia Pacific.
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Key Players Operating in Global Veterinary Monitoring Equipment Market
Major market players are focused on expansion of their presence in the global veterinary monitoring equipment market primarily by adopting inorganic growth strategies. Leading players operating in the global veterinary monitoring equipment market are:
- Smiths Group plc
- DRE Veterinary
- Digicare Biomedical Technology
- Midmark Corporation
- Medtronic plc
- Bionet America, Inc.
- SonoScape Medical Corporation
- Hallowell EMC
- MinXray, Inc.
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
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