Home > Pressrelease > Veterinary Telemetry Systems Market size to surpass $485Mn by 2032
Veterinary Telemetry Systems Market size to surpass $485Mn by 2032
- Published Date: April 27, 2023
Veterinary Telemetry Systems Market size is slated to exceed USD 485 million by 2032, as per a new research report announced by Global Market Insights In
The rising demand for remote monitoring in veterinary care will augment the expansion for veterinary telemetry systems by 2032. Due to the COVID-19 pandemic, veterinarians had to limit personal contact with their clients. This has ushered federal administrations to relax their VCPR and telemedicine legislation, making telemedicine available to a broader range of pet owners. Telemetry systems allow the collection of animal data remotely through cloud-connected biosensors sported by animals outside a hospital or vet clinic and transmit data to a veterinarian’s mobile health application online 24/7.
ECG/EKG monitor sales to propel due to high incidence rate of CVDs among pets
ECG/EKG monitors segment is predicted to showcase over 5.5% CAGR by 2032. An electrocardiogram measures the electrical signal from the heart to diagnose various cardiac problems that help detect abnormalities such as arrhythmias, irregularities in the structure and size of the different heart chambers, peculiar conduction, and other heart defects. The surging incidences of cardiovascular diseases in companion animals increase the need for continuous heart monitoring, which, in turn, will boost the uptake of ECG/EKG monitors for companion animals.
Browse key industry insights spread across 190 pages with 318 market data tables & 18 figures & charts from the report, “Veterinary Telemetry Systems Market Size By Product (Vital Signs Monitors, ECG/EKG monitors, Anesthesia Monitors, Accessories), By Mobility (Portable, Floor Standing, Compact/Tabletop), By Animal (Small, Large), By Application (Respiratory, Cardiology, Neurology), By End-user (Veterinary Hospitals, Clinics), Industry Analysis Report, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
Increasing prevalence of lung disorders to boost product adoption in respiratory applications
Veterinary telemetry systems market revenue from the respiratory application segment to be worth over USD 185 million by 2032. Respiratory rate variations are among the first signs of severe pathologies, such as sepsis, metabolic acidosis, respiratory distress, and drug overdoses. Respiratory monitoring help identify pets with a risk of developing congestive heart failure and significant heart disease before the condition develops into an emergency, thus, favoring the market trends.
Clinics to become a prominent end-user due to patient outreach
Veterinary clinics segment of the veterinary telemetry systems market crossed over USD 100 million in 2022. The growing number of veterinary clinics coupled with better patient outreach are major factors for the expansion of the veterinary clinics segment. Also, the clinics are noted to witness a huge number of visits in case of any problems with the animal or animal’s annual check-up, which will help accelerate the segmental outlook.
Growing popularity of pet insurance to support market progress across Europe
Europe veterinary telemetry systems market is set to hit over USD 170 million by 2032. The growth of the European market can be attributed to the availability of advanced veterinary healthcare infrastructure. Besides, the considerable rise in the adoption of pet insurance and strategic initiatives by key players will help Europe emerge as a potential business hub by 2032.
New product development to remain a key progression strategy
Notable firms in the veterinary telemetry systems industry include Medtronic plc, DRE Medical, Inc. (Avante Health Solutions), Nonin, Shenzhen Mindray Animal Medical Technology Co., Ltd., Masimo Corporation, Digicare Biomedical, Dextronix, Midmark Corp., Smiths Medical (ICU Medical, Inc.), and Bionet.