Veterinary Telemetry Systems Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 10.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Veterinary Telemetry Systems Market Analysis
The Veterinary Telemetry Systems Market is expected to register a CAGR of 10% during the forecast period.
The veterinary telemetry systems market is majorly driven by factors such as increasing demand for remote monitoring in veterinary practices and technological advancements in veterinary healthcare. In addition, pet ownership has been growing globally, especially in Southeast Asian nations.
According to the American Society for the Prevention of Cruelty to Animals’ data 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 data published in Frontiers in Veterinary Science in December 2022, 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 expected to propel market growth.
In addition, rising technological innovations and initiatives by key market players are anticipated to drive market growth. For instance, in December 2022, 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 its device. These training tools are an important part of the complete pet ecosystem offered by the company. Such technological innovations in telemetry devices help increase their adoption to control pets, thus driving market growth.
Moreover, rising product launches by market players are expected to increase access to these systems, which is likely to contribute to the growth of the market studied over the forecast period. For instance, in January 2024, SunTech unveiled its latest innovation, the Vet40 Surgical Vital Signs Monitor, designed specifically for companion animals. Building upon the success of its proven SunTech Vet BP line, this monitor is tailored for both examination and operating rooms. Boasting a range of monitoring capabilities, the Vet40 covers essential parameters like NIBP, temperature, SpO2, and ECG and offers an optional ETCO2 feature, elevating the standards of veterinary care. Such product launches are expected to increase its demand, thereby boosting market growth.
Therefore, factors such as rising pet adoption, the surge in demand for remote veterinary monitoring, increasing initiatives, and technological advancements by 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 Expected to Witness Significant Growth Over the Forecast Period
Pet wearables refer to devices worn on a 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 by key market players to launch their products, such as pet wearable devices, will also bolster segment growth. For instance, in February 2024, pet wearables provider Tractive launched its first insurance product in partnership with Verisk-owned software house Ignite and insurer Covia. 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, in March 2024, PetPace unveiled PetPace 2.0, an AI-driven smart collar designed to save lives. This innovative collar offers continuous, almost real-time medical data, aiding in early detection, treatment, and monitoring of canine health. Additionally, it features GPS tracking. PetPace's mission is to enhance pets' health and well-being by providing remote monitoring, ultimately offering peace of mind to pet owners. 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’s growth.
With the development of technologically advanced wearable devices hand in hand with the importance of wearable devices in veterinary healthcare, the market segment is believed to register strong growth over the forecast period.
North America Expected to Register a Major Share in the Veterinary Telemetry Systems 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, along with increased spending on pet care, is fueling the market’s growth. For instance, according to the 2023-2024 National Pet Owners Survey conducted by the American Pet Products Association (APPA), 66% of US households own a pet, which equates to 86.9 million homes. In addition, according to the same source, between 2022 and 2023, around 65.1 million US households owned a dog, and 46.5 million families owned a cat, among other pet animals.
Besides that, according to the Canadian Animal Health Institutes in September 2022, from 2020-2022, the Canadian dog and cat populations continued to grow, increasing from 7.7 million to 7.9 million for dogs and from 8.1 million to 8.5 million for cats. Therefore, such a massive adoption of pets may drive the growth of the veterinary telemetry systems market in the longer-term process in the region during the forecast period.
Moreover, the rising initiatives by key market players in the region are further expected to bolster market growth. For instance, in January 2024, Invoxia at CES unveiled the Minitailz Smart Pet Tracker, an AI wearable that is designed for dogs and cats.
Hence, the high adoption of pets and the well-established veterinary healthcare system in the United States are expected to result in the country registering a strong share in the North American veterinary telemetry systems market.
Veterinary Telemetry Systems Industry Overview
The veterinary telemetry systems market is semi-consolidated, with a presence of key global companies across various regions. The factors contributing to the competition include increasing technological innovations in veterinary telemetry products and rising initiatives such as the launch of products. 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
- May 2024: Bionet America Inc. unveiled its latest innovation, the Brio XVet series. This cutting-edge line of multiparameter monitors has been specifically designed for veterinary surgery. The series comprises three models – the Brio X3Vet, X5Vet, and X7Vet – all characterized by their lightweight build and streamlined design. These monitors prioritize efficiency, precision, and safety, setting a new standard in veterinary surgical equipment.
- 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.
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 Costs of Equipment
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)
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
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
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 or interact with stimuli in a clinical setting or undergo veterinarian treatments.
The veterinary telemetry systems market is segmented by product, application, end user, and geography. By product, the market is segmented into vital signs monitors, ECG/EKG monitors, wearables, anesthesia machines, and other products. By application, the market is segmented into respiratory, cardiology, neurology, and other applications. By end user, the market is segmented into veterinary hospitals and veterinary clinics and other end users. By geography, the market is segmented into North America, Europe, Asia-Pacific, the 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 market sizes and forecasts in value (USD) 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 | ||||||||
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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 10% 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.
