Veterinary Holters Market Set to Record Exponential Growth by 2019 - 2027
Global Veterinary Holters Market - Introduction
Holter monitor is used in non-invasive techniques to monitor cardiac rhythm over a long period of time. The device continuously monitors the electric activity of the heart which is useful to determine occasional or intermittent cardiac arrhythmias. These devices are commonly used to diagnose heart diseases and any abnormality in functioning of cardiac system in animals, especially Boxer Dogs and Doberman Pinschers. Veterinary Holters can be worn throughout the day which helps in recording heart rate while performing normal day to day activities. The Holter is then returned to veterinarian’s office, where the recorded ECG is analyzed to find abnormalities. Veterinary Holters are also used to determine the effectiveness of drug prescribed to animals and evaluate pacemaker function.
Global Veterinary Holters Market - Competitive Landscape
Prominent players operating in the global veterinary Holters market are ALBA Medical, Biomedical Instruments Co., Ltd., Engel Engineering Services GmbH, and Dextronix, Inc.
ALBA Medical
Based in the U.S., ALBA Medical is a company that manufacturers veterinary Holters. The company operates in more than 40 countries. It sells K9 Holter monitors.
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Biomedical Instruments Co. Ltd.
Established in 1993, Biomedical Instruments Co., Ltd. offers cardiac diagnostic and monitoring products such as portable rest ECG, veterinary Holters, ambulatory blood pressure monitoring (ABPM), electroencephalogram (EEG), and cloud-based information management system. These products are sold in more than 60 countries. The company also offers original equipment manufacturer (OEM) Holter products for medical device companies in the U.S., Japan, and Germany. It has received the China Food and Drug Administration (CFDA) approvals and CE mark for various products.
Dextronix, Inc.
Headquartered in the U.S., Dextronix, Inc. is a manufacturer of medical devices for veterinary applications such as interventional radiology, cardiology, surgery, critical care, and emergency. The company supplies heart monitors, pacemakers, stents & catheters, guide wires, and extractors. The company offers ET-Scout Holter Monitor, which can be used with iOS and Android smartphones and tablets. The device is integrated with a software, Cardio Explorer, which can be used to download the data after Holter recording is completed.
Global Veterinary Holters Market - Dynamics
The global veterinary Holters market is projected to grow at a steady pace during the forecast period. Increase in the number of pet owners, rise in demand for cardiac monitoring devices in veterinary care, and increase in adoption of technologically advanced medical devices are anticipated to drive the global veterinary Holters market. Moreover, increase in expenditure in the pet industry is expected to boost the growth of the veterinary Holters market during the forecast period. Additionally, surge in awareness about cardiac monitoring and available diagnostic services for dogs is likely to contribute to the growth of the global veterinary Holters market.
Increase in Pet Ownerships: Key Driver of Global Veterinary Holters Market
The number of pet owners is rising, especially in the U.S. and other developed countries across the globe. According to the American Pet Products Association's 2017–2018 National Pet Owners Survey, 60.2 million and 47.1 million households owned dogs and cats, respectively, in the U.S. According to the European Pet Food Industry Federation (FEDIAF), nearly 80 million households in Europe own at least one pet animal. This will increase demand for medical supplies and diagnostic & treatment devices for pets, thereby boosting the growth of the global veterinary Holters market.
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Rise in Pet Care Expenditure
Exponential increase in pet care expenditure is projected to boost the growth of the global veterinary Holters market. According to the American Pet Products Association, Inc., the total pet care expenditure in the U.S. increased from US$ 60.28 Bn in 2015 to US$ 72.56 Bn in 2018. Of this US$ 72.56 Bn, US$ 16.0 Bn, and US$ 18.11 Bn were spent on supplies, OTC medicines, and veterinary care, respectively. The association expects the number to reach US$ 75.38 Bn by the end of 2019.
Global Veterinary Holters Market - Segmentation
The global veterinary Holters market can be segmented based on product type, end-user, and region.
In terms of product type, the global veterinary Holters market can be bifurcated into:
- Analog
- Digital
Based on end-user, the global veterinary Holters market can be classified into:
- Veterinary Clinics
- Veterinary Hospitals
- Others