Veterinary Monitoring Equipment Market is projected to grow at a CAGR of 10.14%

Veterinary Monitoring Equipment Market is projected to grow at a CAGR of 10.14%

By Knowledge Sourcing Intelligence Press Releases

Knowledge Sourcing Intelligence announces the publication of a new report on “Veterinary Monitoring Equipment Market - Forecasts from 2020 to 2025” to their offering.

Increasing zoonoses, growing adoption of companion animals, growing need for maintaining sound livestock heath, changing food consumption trends resulting in high demand for dairy and meat, among others are expected to effectuate the market growth.

As per the report, the market pertaining to veterinary monitoring equipment is expectedto reach US$482.191 million  by 2025, from US$270.115 million  in 2019

The factors which are known to drive the growth of the market albeit primarily associated with sound livestock and companion animal health have effectively shifted during the past few years due to rising incidences of zoonoses with COVID 19 being the most recent example of human-animal interaction. Both indirect and direct contact with animals has reportedly resulted in zoonoses that have been fatal to both animals and humans. Further animal diseases are also known to affect the livelihood of many who are directly as well as indirectly associated with animal husbandry which is expected to propel the growth of the market.  A brief outlook on animal diseases is as follows. of 6 out of every 10 known infectious diseases in people can occur from animals, and 3 out of every 4 new or upcoming infectious diseases in people are spread from animals as per findings of the U.S. Department of Health & Human Services. It also should be noted that in 2019 the value of U.S. poultry and poultry product exports to the world attained a value of $4.25 billion which as per USDA was reportedly down by 1 % in comparison with the figures registered in 2018. It is still reportedly unable to recover due to the pre-2015 Highly Pathogenic Avian Influenza (HPAI) outbreak levels. Further, in November 2020 Ministry of Agriculture, Forestry, and Fisheries (MAFF), Government of Japan had reportedly announced that highly pathogenic avian influenza (HPAI) had been detected on a layer operation in Mitoyo City, Kagawa. Further, the ministry had also communicated that the operation will be subjected to the culling of approximately 330,000 layers.

This announcement was successive to the confirmed detection of HPAI in wild duck droppings in Monbetsu, Hokkaido Prefecture in October this year. Since detection of HPAI in a commercial operation in Sanuki City, Kagawa Prefecture reported in January 2018 which had resulted in the culling of 90,000 head, this marks the first detection of HPAI in chicken population intended for commercial use. As of 2019 Kagawa prefecture had reportedly represented 3 % of layer population and 2% of the broiler population of the country. With a total chicken population estimated to be at 323 million constituting 185 million layers and 138 million broilers, 62% of Japan's chicken supply is sustained domestic production with the remaining 38% contributed by imports mainly from Brazil and Thailand. Moving towards the occident, and shifting towards swine and pork production Bulgaria’s livestock industry in 2019 was posed with significant challenges stemming from African swine fever (ASF). The country’s swine inventory was reduced to 25%. Further, the ASF outbreak had reportedly devastated the producers of small hog and also affected several leading large commercial farms. Despite a major share comprised smallholders, the total number of farms declined by 74 % According to the Ministry of Agriculture and Foods, Bulgaria around 38,000 backyard farms were compelled to stop hog production. Further, in September 2020 Chief Veterinary Officer of Poland had officially notified the National Veterinary Research Institute in Pu?awy had reportedly confirmed the outbreak of ASF on a hog farm which registered 6,480 heads. Located in the village of Zawroty in Ostroda County of the northeastern province of Warmia and Mazury this is reportedly the 3rd largest of the commercial ASF outbreaks since the beginning of 2020 which numbered at 82. Moreover, as of September 2020, the Federal Minister of Food and Agriculture of Germany had confirmed an ASF case in a wild boar found in Eastern Germany near the German-Polish border. It is reportedly the first case of ASF which has put $867 million in exports to China in jeopardy.

As a part of the report, the major players operating in the veterinary monitoring equipment market, which have been covered are Medtronic, Masimo, Jorgensen Labs, IMV Technologies, Hallowell Engineering & Manufacturing Corporation, ESAOTE SPA, DRE Veterinary (Avante Health Solutions), Digicare Biomedical, Covetrus, Burtons Medical Equipment, Bionet America, Inc. and Agfa-Gevaert Group.

View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/veterinary-monitoring-equipment-market

This report segmented the veterinary monitoring equipment market on the basis following terms

  • By Type
    • Anesthesia Monitors
    • Capnography & Oximetry Systems
    • ECG & EKG Monitors
    • MRI Systems
    • Vital Sign Monitors
    • Others
  • By Application
    • Cardiology
    • Multi-parameter Monitoring
    • Neurology
    • Respiratory Disorders
    • Weight & Temperature Monitoring
    • Other
  • By Animal Type
    • Companion Animals
    • Livestock
  • By End-Users
    • Veterinary Clinics & Diagnostic Centers
    • Veterinary Hospitals
    • Research Institution
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Italy
      • Others
    • The Middle East and Africa
      • Israel
      • Saudi Arabia
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Others