Veterinary Telemetry Systems Market (By Animal Type: Small, Large; By Product: Wearables, Accessories; By End-use; By Mobility; By Application) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

The global veterinary telemetry systems market was estimated at USD 271.94 million in 2021 and it is expected to surpass around USD 475.53 million by 2030, poised to grow at a CAGR of 6.41% from 2022 to 2030

Report Highlights

• The small animal type segment dominated the industry in 2021 and accounted for the maximum share of more than 78.88% of the overall revenue. The segment is anticipated to expand further at the fastest CAGR during the forecast period. 
• The vital signs monitors product segment dominated the global industry and accounted for the highest share of more than 40.7% of the overall revenue in 2021. 
• The portable segment is estimated to register the fastest growth rate during the forecast period. 
• The respiratory segment accounted for the largest share of more than 35.95% of the overall market in 2021. 
• The veterinary hospitals/clinics end-use segment dominated the industry in 2021 and accounted for the maximum share of more than 78.8% of the overall revenue. 
• North America accounted for the largest share of more than 38.44% in 2021 of the overall revenue. 
• The Asia Pacific region, is projected to register the highest growth rate during the forecast years. 

The key factors driving the industry include rising product advancements, expenditure on pet healthcare, adoption of telemetry systems by veterinary hospitals and clinics, as well as the flow of investment. For instance, in June 2020, Dinbeat received EUR 500,000 investment, thus closing its second investment round. The company specializes in the development of innovative products for the companion animal sector. This includes Dinbeat UNO—its wireless pet health monitor. The funding enabled the company to reinforce its internationalization strategy, grow its team, and validate its technology for human use.

The COVID-19 pandemic resulted in dampened demand and sales across the industry. This was due to the lack of access to veterinary care, reduced vet visits, operational challenges, and supply chain hurdles. However, the industry recovered gradually in 2021 and is projected to grow notably over the forecast period. This growth, however, may be threatened or slowed down by uncertain market conditions brought on by macroeconomic factors, such as the Ukraine war, inflation, and labor costs. For instance, the spike in inflation in the U.S. in Q2 2022 is estimated to remain high in the near term due to the prolonged war in Ukraine as well as high wheat and oil prices. However, the overall pet care sector is estimated to thrive through an uncertain economic environment, according to Veterinary Practice news.

Increasing product advancements and launches by key players are major factors driving the industry. In February 2020, for example, Bionet America launched veterinary multi-parameter monitor series called the BMVet PRO Series. The newly launched series of monitors came equipped with upgrades and additional features including full proprietary Bed2Bed telemetry, WiFi capability, ETCO2, Anesthetic Gas parameter monitoring, and USB memory storage. As per Bionet America’s Sales and Marketing Manager, the new series provides an affordable alternative to the veterinary community in contrast to the cost-prohibitive premium monitors with anesthetic gas measurement. Similar initiatives by key companies are anticipated to contribute to the growth in the coming years.

Scope of The Report

Animal Type Insights

On the basis of animal types, the global industry has been further bifurcated into small and large animals. The small animal type segment dominated the industry in 2021 and accounted for the maximum share of more than 78.88% of the overall revenue. The segment is anticipated to expand further at the fastest CAGR during the forecast period. This is owing to most companies offering products catering to small animals comprising dogs, cats, and others. The SM100 veterinary patient monitor offered by Mano Médical, for instance, is developed specifically for cats, dogs, and other similarly-sized veterinary patients.

The device is intended for vital signs monitoring, anesthesia monitoring, ECG, blood pressure testing, and temperature monitoring, among others. The key factors contributing to the growth of the small animal segment include the increasing companion animal population, high pet expenditure, adoption of pet insurance plans, and rising pet humanization. The large animal type segment is also estimated to show notable growth in the near future, driven by product R&D for horses. The U.S.-based PonyUp Technologies Inc.’s VetCheq monitor, for instance, is a patented system that monitors horse health remotely and non-invasively. The device is fastened on the leg in a specialized wrap boot and helps monitor cardiac and respiratory function.

Product Insights

On the basis of products, the global industry has been further sub-segmented into vital signs monitors, ECG/EKG monitors, wearables, anesthesia machines, accessories, and others. The vital signs monitors product segment dominated the global industry and accounted for the highest share of more than 40.7% of the overall revenue in 2021. Vital signs monitors, also referred to as multi-parameter monitors and patient monitors, are the most used products for veterinary monitoring in clinics and hospitals. This is mainly because of the multiple parametric measurement functions offered by these devices.

Some monitors feature certain standard parameters while others include additional features, such as thermal recording, capnography, 2-IBP, and anesthesia monitoring. However, the high cost of premium monitors can restrain the segment growth. EDAN Instruments, Inc.’s veterinary monitor, for example, costs between USD 800 to 5,000 depending on the features. Costs can also vary based on connectivity, such as the Bluetooth-enabled PC VetGard. The wearables segment, on the other hand, is projected to expand at the fastest CAGR during the forecast years. This is owing to the entry of start-ups and research & development activities to introduce innovative pet wearable monitors to the market.

Mobility Insights

On the basis of mobility, the global industry has been further sub-segmented into portable, floor standing, and compact/tabletop. The compact or table-top telemetry systems are mainly used in hospital settings and clinics and thus, the segment accounted for the highest share of more than 34.60% of the overall revenue in 2021. LifeSense VET by Nonin, for instance, is a tabletop multi-parameter monitor designed exclusively for veterinary use. It measures EtCO2, SpO2, respiration, FiCO2, and pulse rate of intubated animals. The widescreen display offers a user-friendly touch panel for varied settings and adjustments.

On the other hand, as most of the recently launched veterinary telemetry systems are portable, the portable segment is estimated to register the fastest growth rate during the forecast period. Portable veterinary telemetry systems include hand-held monitors, wearable health trackers, fingertip devices, etc. Established companies are also releasing travel-friendly portable versions of their devices and equipment to provide more flexibility and control to the veterinarian. Veterinary Pulse Oximeter by eKuore, for example, functions as a substitute multi-parameter monitor during post-op and in low-risk settings.

Application Insights

On the basis of applications, the global industry has been further categorized into respiratory, cardiology, neurology, and others. The respiratory segment accounted for the largest share of more than 35.95% of the overall market in 2021. This is owing to the majority of telemetry systems offering some kind of respiratory parameter measurement, including respiratory rate, SpO2, CO2, etc. Respiration rate measurement is one of the core vital signs measured to track the body’s most basic functions. Respiratory monitoring can thus help identify pets with a risk of developing congestive heart failure and significant heart disease before the condition develops into an emergency.

The cardiology and neurology segments are also anticipated to grow notably in the coming years. The others segment comprising continuous glucose monitoring devices for chronic disease monitoring and other such devices is expected to expand at the fastest CAGR during the forecast period. The University of Georgia, U.S., has been offering iPro continuous glucose monitoring devices for dogs and cats since 2013. The device features a small disposable sensor and a recorder. The sensor is inserted under the animal’s skin to read blood glucose levels. The device records readings every five minutes for a period of 3 to 5 days.

End-use Insights

The veterinary hospitals/clinics end-use segment dominated the industry in 2021 and accounted for the maximum share of more than 78.8% of the overall revenue. The others segment, which includes veterinary research institutes and others, is expected to register the fastest CAGR from 2022 to 2030. Veterinary hospitals/clinics are the primary point of consultation and care delivery for pets. These facilities are also increasingly adopting vital signs monitors and other telemetry systems to improve patient outcomes. Furthermore, as most surgeries and procedures requiring anesthesia and intubation are conducted within the hospital and/or clinic settings, the segment is projected to maintain its dominant position in the coming years.

Pemberton Veterinary Hospital in Canada, for example, monitors heart rate, blood pressure, oxygen saturation, respiratory rate, end-tidal carbon dioxide, and body temperature in anesthetized pets. Another major factor propelling the growth of this segment is that most of the key companies are targeting hospitals and clinics to market their line of veterinary monitors. Bionet, for instance, offers a range of multi-parameter monitors to companion animals or equine clinics. The benefits provided include ease of use, customizable settings, 4 years warranty, and no need for reconfiguration.

Regional Insights

On the basis of geographies, the global industry has been further divided into North America, Asia Pacific, Middle East & Africa, Latin America, and Europe. North America accounted for the largest share of more than 38.44% in 2021 of the overall revenue. This is owing to advanced veterinary healthcare infrastructure, rising adoption of pet insurance, and strategic initiatives by key players. U.S. VetMeasure, Inc., for example, is developing a smart harness called MeasureON for continuous health monitoring of companion animals in real-time. This includes monitoring vital signs, such as temperature, heart rate, and respiratory rate, through Wi-Fi and the VetMeasure app.

The Asia Pacific region, on the other hand, is projected to register the highest growth rate during the forecast years. The fast growth of this region can be attributed to the improving veterinary healthcare facilities and services, an increasing number of local companies, and the rapidly growing pet population. In addition, the presence of major industry participants in APAC countries supports the growth. For instance, Mindray, Shenzhen Comen Medical Instruments Co., Ltd., Lepu Medical Technology, and Promed Technology Co., Ltd., are headquartered in China. Bionet, another key player, is based in South Korea.

Key Players

• DRE Veterinary, an Avante Health Solutions Company
• Medtronic
• Shenzhen Mindray Animal Medical Technology Co., Ltd.
• Nonin
• Masimo
• Dextronix
• Digicare Biomedical
• Midmark Corp.
• Bionet
• Smiths Medical (ICU Medical)

Market Segmentation

• By Animal Type Outlook
• Small Animals
• Large Animals
• By Product Outlook
• Vital Signs Monitors
• ECG/EKG Monitors
• Wearables
• Anesthesia Machines
• Accessories
• Others
• By Mobility Outlook
• Portable
• Floor Standing
• Compact/Tabletop
• By Application Outlook
• Respiratory
• Cardiology
• Neurology
• Others
• By End-use Outlook
• Veterinary Hospitals/Clinics
• Others
• By Regional Outlook
• North America

• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• MEA
• South Africa