Veterinary Patients Monitor Market Industry Research, Growth Trends and Opportunities During Forecast 2018-2026
Since the COVID-19 infection flare-up in December 2019, the malady has spread to right around 100 nations around the world with the World Health Organization proclaiming it a general wellbeing crisis. The worldwide effects of the coronavirus sickness 2019 (COVID-19) are now beginning to be felt, and will essentially influence the Healthcare Industry in 2020.
Veterinary Patients Monitor is the device used to assess pet’s heart and respiratory rate, blood pressure rate, and other vital signs to prevent any anesthetic risk. Veterinary Patients Monitor has witnesses the rapid growth due to factors like increasing animal health expenditure, rising demand of pet insurance, growing animal research, rising in the companion market, increase in the number of veterinary practitioners are the driving factors in the global veterinary patients monitor market. However, an unavailability of skilled veterinarians and the increasing of pet care expenses are expected to restrain the growth of veterinary patients monitor market. The growth in veterinary patients monitor market is mainly attributed to the population growth of animal and rising demand for animal food products, Moreover, technological advancements, and rising animal health expenditure and pet health insurance increasing the growth of veterinary patients market. However, high price of instruments and unawareness about animal health in developing countries are affecting the growth of veterinary patients monitor market. Low awareness about animal health in emerging markets is the major challenge in the veterinary patients monitor market.
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Over the past years, it has been observed that advancement in veterinary industry that rising the demand of veterinary technicians and veterinary patients monitor market across the country. Today, there are rising demand for treatment and medications for pets, which led pet owners to consult the veterinarian by coming into veterinary clinics for the better treatment required for their animal. This increase business demand for better professionally trained veterinary technicians and better treatment and technology advancement for animal health which boost up the demand for veterinary patients monitor. Nowadays, changing attitude of owners towards their pets and treating them as good companion or as family member attribute to the growth of veterinary patients monitor market. With the technological advancements and improvements the focus of veterinarians towards animal’s health and to provide affordability and accessibility allowed small practices to widespread.
Diagnostic lab equipment has become very easier to maintain not in the vet clinic but also in house which offers more immediate results that can easily be provided to pets owners. Less invasive procedures are provided by laparoscopic and laser surgery with shorter recovery time. Moreover, diagnostic imaging of pets allow earlier diagnosis of diseases and provide before and after care. Diagnostic imaging offers more in depth information and also provides more options for larger animals. The growth of technology advancements in veterinary care will continue to grow which increases the veterinary patients monitor market growth. And people are also investing money toward diagnostic and treatments for their pets which led to new drug inventions which may show higher profit potential in the forecast period for veterinary patients monitor market. Due to these trends, the pet health market will show higher growth which leads to the growth of veterinary patient monitor market.
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The global market for veterinary patients monitor market is segmented on basis of product type, target area, types of animal, end user and geography.
- Segmentation by Product Type
- Cardiac Monitoring Devices
- Respiratory Monitoring Devices
- Remote Patient Monitoring Devices
- Multi-Parameter Monitoring Devices
- Neuromonitoring Devices
- Others
- Segmentation by Target Area
- Cardiology
- Neurology
- Respiratory
- Weight Monitoring
- Temperature Monitoring
- Others
- Segmentation by Type of Animal
- Small Companion Animals
- Large Companion Animals
- Wild Animals
- Zoo Animals
- Aquatic Animals
- Exotic Animals
- Segmentation by End User
- Veterinary hospitals
- Veterinary clinics
- Veterinary research centers
On the basis of geography, the veterinary patients monitor market is segmented into six key regions viz. North America, Latin America, Europe, Asia Pacific excluding China, China and the Middle East & Africa. The North America veterinary patients monitor market is expected to register the maximum market share in the global market, followed by Europe, due to rising adoption rate advanced diagnostic procedures practices of small and large animal. Moreover, increasing demand for the pet health insurance, healthcare expenditure and pet adoption in many major countries is also some of the reason for growing market for veterinary patients monitor. The United States Animal Health Association is non-profit, voluntary organizations that protects animals and promotes animal health. Every year, approx. 6.5 million companion animals received shelter U.S. animal shelters. About 3.2 million shelter animals are adopted each year. However, Asia Pacific region is expected to grow at the highest CAGR and is projected to be a profitable market for new emerging market players in the veterinary patients monitor market due to the rising livestock population, pet adoption and increasing demand of animal food products. However, the market for veterinary patients monitor market in Latin America, and the Middle East and Africa regions are estimated to show a stagnant growth over the forecast period.
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Examples of some of the key players present in the veterinary patients monitor are ,
- Bionet America
- GE Healthcare
- B. Braun Vet Care GmbH
- Medtronic Plc.
- Carestream Health
- IDEXX Laboratories, Inc.
- Agfa Healthcare
- MinXray, Inc.
- EsaoteS.p.A
- Hallmarq Veterinary Imaging Ltd.
- Smiths Medical
- DRE Veterinary
- Midmark Corporation