Dublin, Jan. 09, 2024 (GLOBE NEWSWIRE) -- The "Veterinary Patient Monitoring Equipment Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global veterinary patient monitoring equipment market is projected to witness substantial growth, bolstered by technological advancements and the increasing prevalence of diseases among animals. A comprehensive market research report, offering insights into the market's latest trends, size, and future opportunities, is now available.
The report highlights that the market, valued at $0.46 billion in 2023, is forecasted to reach $0.49 billion by 2024, expanding at a compound annual growth rate (CAGR) of 6.8%. The veterinary patient monitoring equipment sector is expected to continue its robust growth trajectory, reaching $0.64 billion by 2028 with the consistent CAGR.
Several factors underpin this growth, including the increasing adoption of pets worldwide. This surge in pet ownership correlates with a rise in health-related expenditures for animals, driving the demand for state-of-the-art monitoring equipment. Additionally, the market is experiencing transformative changes with the introduction of wearable devices and telehealth solutions that further propel the industry's development.
The report delves into the various types of veterinary patient monitoring equipment that are gaining traction, such as:
- Cardiac and respiratory monitoring devices
- Remote patient monitoring technologies
- Multi-parameter and neuromonitoring devices
Veterinary patient monitoring equipment has become indispensable in multiple settings, including veterinary hospitals and clinics, as well as in research centers. The report identifies North America as the market leader, owed to high pet adoption rates and advanced healthcare infrastructure. However, Asia-Pacific is quickly emerging as a significant player, given its rapid development in pet healthcare services.
The emergence and integration of wireless connectivity, remote monitoring capabilities, and eco-friendly monitoring practices are spotlighted as key trends anticipated to shape the future of veterinary patient monitoring.
This surge in interest and market growth aligns with a wider acknowledgment of the pivotal role that such monitoring systems play in safeguarding the health and welfare of both companion animals and livestock.
Major companies in the industry are strategically partnering to expand their service offerings and technological capabilities. The report examines these collaborations and their implications for the market. High-profile acquisitions, such as that of Structured Monitoring Products, Inc. by Zomedica Corp., underscore the market's dynamism and its responsiveness to emerging technologies.
The comprehensive market research provides a critical tool for stakeholders, investors, and veterinary healthcare providers. It offers actionable insights and an array of data points that facilitate informed decision-making and assert the importance of continuous innovation in this sector.
For more information about this report visit https://www.researchandmarkets.com/r/3olf9x
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