Market Size of Veterinary Telemetry Systems Industry
| 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 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 | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Veterinary Telemetry Systems Market Size Summary
The veterinary telemetry systems market is poised for substantial growth, driven by increasing demand for remote monitoring in veterinary practices and advancements in veterinary healthcare technology. The market, which experienced a temporary setback due to the COVID-19 pandemic, is now gaining momentum as pet ownership continues to rise globally, particularly in Southeast Asia. The growing awareness of pet monitoring and the adoption of veterinary telemetry systems are further fueled by technological innovations and initiatives from key market players. These developments are expected to propel the market forward, despite challenges such as the high cost of equipment.
In North America, the United States is expected to hold a significant share of the veterinary telemetry systems market, supported by a large pet population and increased spending on pet care. The region's well-established veterinary healthcare system and the rising initiatives from market players, such as the launch of innovative pet wearable devices, are contributing to market growth. The competitive landscape is characterized by the presence of major global companies, with ongoing technological advancements and strategic collaborations enhancing market dynamics. As the demand for proactive veterinary healthcare solutions grows, the market is set to witness robust expansion over the forecast period.
Veterinary Telemetry Systems Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.2.1 Increasing Demand for Remote Monitoring in Veterinary Care
-
1.2.2 Technological Advancements in Veterinary Healthcare
-
-
1.3 Market Restraints
-
1.3.1 High Costs of Equipment
-
-
1.4 Porter's Five Forces Analysis
-
1.4.1 Threat of New Entrants
-
1.4.2 Bargaining Power of Buyers/Consumers
-
1.4.3 Bargaining Power of Suppliers
-
1.4.4 Threat of Substitute Products
-
1.4.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION (Market Size by Value - USD)
-
2.1 By Product
-
2.1.1 Vital Signs Monitors
-
2.1.2 ECG/EKG Monitors
-
2.1.3 Wearables
-
2.1.4 Anesthesia Machines
-
2.1.5 Other Products
-
-
2.2 By Application
-
2.2.1 Respiratory
-
2.2.2 Cardiology
-
2.2.3 Neurology
-
2.2.4 Other Applications
-
-
2.3 By End User
-
2.3.1 Veterinary Hospitals and Veterinary Clinics
-
2.3.2 Other End Users
-
-
2.4 Geography
-
2.4.1 North America
-
2.4.1.1 United States
-
2.4.1.2 Canada
-
2.4.1.3 Mexico
-
-
2.4.2 Europe
-
2.4.2.1 Germany
-
2.4.2.2 United Kingdom
-
2.4.2.3 France
-
2.4.2.4 Italy
-
2.4.2.5 Spain
-
2.4.2.6 Rest of Europe
-
-
2.4.3 Asia-Pacific
-
2.4.3.1 China
-
2.4.3.2 Japan
-
2.4.3.3 India
-
2.4.3.4 South Korea
-
2.4.3.5 Australia
-
2.4.3.6 Rest of Asia-Pacific
-
-
2.4.4 Middle East and Africa
-
2.4.4.1 GCC
-
2.4.4.2 South Africa
-
2.4.4.3 Rest of Middle East and Africa
-
-
2.4.5 South America
-
2.4.5.1 Brazil
-
2.4.5.2 Argentina
-
2.4.5.3 Rest of South America
-
-
-
Veterinary Telemetry Systems Market Size 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.
