Veterinary Glucometers Market is expected to expand at a 5.1% CAGR through 2032. The worldwide veterinary glucometers market is presently valued at US$ 336.2 Million in 2022 and is expected to exceed US$ 579.4 Million by 2032.
Emerging Trends in the veterinary glucometers market suggest the growing cases of animal diabetes along with glucometers efficiency, which is specially used for dogs and cats, is anticipated to boost the demand for veterinary glucometers through 2032. New portable devices by key players are establishing new standards and manufacturing trends for the market.
Expanding veterinary glucometer market size is attributed to its easy-to-use glucose test in practice in the field or at home. It is based on biosensors and auto-code technology. These veterinary glucometers have an additional bell or whistle and have the ability to upload readings in an electronic format after performing the test. These are some of the primary factors boosting the demand for veterinary glucometers.
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What are the Major Drivers and Restraints of the Veterinary Glucometers Market?
The global market of veterinary glucometers is expected to be driven by advancements in technology. The market is expected to grow by some factors such as clients expecting a higher level of care and nominally invasive procedures for their pets which propositionally boost the sales of veterinary glucometers.
Based on animal type, it is the major segment of the veterinary glucometer market which includes companion animals such as dogs and cats. The other segment of the veterinary glucometers market is based on end-users which includes veterinary hospitals, veterinary clinics, and home care settings.
Veterinary Glucometers Market is Boosted by Rising Pet Obesity Rates
Obesity is the main risk factor for developing diabetes. The main element influencing the adoption of veterinary glucometers is thought to be the rise in the number of obese dogs. Approximately 35% of pets, according to statistics from the American Veterinary Medical Association, are obese or overweight. Diabetes and liver disease are two conditions that can develop in overweight animals. If untreated, these disorders could be lethal. Therefore, during the projection period, key players are likely to witness a considerable increase in sales of veterinary glucometers due to the rising incidence of obese pet populations that are at a greater risk of getting diabetes.
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Additionally, increased awareness of animal health presents a profitable opportunity for the manufacturers in the veterinary glucometers market. In addition, factors like an increase in the prevalence of diabetes in animals and a rise in the demand for livestock products also contribute to the veterinary glucometers market growth. However, the veterinary glucometers market growth is constrained by the absence of veterinary infrastructure facilities in poor countries.
Pet Glucose Monitors are devices used to measure the blood glucose levels of animals. These devices work in a similar way to human glucometers, using a small amount of blood to determine the glucose concentration in the blood.
Regional Analysis
What is the North America Growth Outlook for the Veterinary Glucometers Market?
North America is expected to lead the market with better healthcare facilities and growing advancing technology in the region. North American market holds a significant share in the veterinary glucometers market with 42% of the global market share. The rising demand for veterinary glucometers is mainly rising in the North American region due to the changing lifestyle of pets and animals, especially native lifestyle being the biggest problem.
How is Europe Performing in the Veterinary Glucometers Market?
With a global market share of 33%, the European veterinary glucometers market grows at a steady CAGR for veterinary glucometers. The second largest market is held by Europe market followed by Asia pacific due to increasing awareness for veterinary diseases. The veterinary glucometers market in this region is anticipated to be one of the fastest growing markets due to a large number of animal populations and rising diseases amongst animals due to inactive lifestyles and poor management.
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Recent mergers and product launches
- Pro zinc (protamine zinc recombinant human insulin) was introduced by Boehringer Ingelheim International GmbH in August 2020 as a daily single-dose medication for dogs with diabetes.
- In August 2019, Zoetis said that partner firms Merck Animal Health and Purina continue to support its Diabetes Pet Care Alliance initiative.
- Nova Biomedical introduced Ketone/Glucose Meter known as Nova Vet under its Nova biomedical section that measures blood beta-hydroxybutyrate (BHB) that gives the results in just 10 seconds. These fuels the sales of veterinary glucometers.
- TaiDoc Technology Corporation has added new modern vet glucose monitoring machines that have a reaction time of 5 seconds with a memory of 400 sets. These fuels the sales of veterinary glucometers.
Key players
- Nova Biomedical
- TaiDoc Technology Corporation
- BioNote Inc
- Woodley Equipment Company Ltd
- i-SENS. Inc.
- MED TRUST
- UltiMed, Inc.
- Biotest Medical Corp
Key segments
By Animal Type:
- Dogs
- Cats
By End User:
- Veterinary Hospitals
- Veterinary Clinics
- Homecare Settings
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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