Veterinary Telemetry Systems Market Size

Veterinary Telemetry Systems Market Analysis

The veterinary telemetry systems market is expected to register a CAGR of around 7.9% over the forecast period.

• The emergence of COVID-19 during the year 2020 has affected the market studied significantly due to the lockdown across the major countries around the globe. However, currently, the market is gaining momentum and is believed to witness significant growth over the forecast period. As per the article published in Consumer News and Business Channel (CNBC) in 2020, animal rescues and adoptions spiked during the initial days of the pandemic. However, the need for vaccination, neutering programs, and frequent veterinary doctor visits during the COVID-19 pandemic have been considered to restrict continued pet adoption during the pandemic. 
• Additionally, according to the study published in the Journal of Zoological and Botanical Gardens in March 2021, there is a need to have an increased understanding of the impact of closures and reopenings on animal behavior, thereby broadening understanding of whether zoo animals habituate to visitors. Such instances to understand animal behavior has led to the increased adoption of veterinary telemetry post-pandemic.
• The veterinary telemetry market is majorly driven by the factors such as increasing demand for remote monitoring in veterinary practice and technological advancements in veterinary healthcare. In addition, pet ownership has been growing globally, especially in the Southeast Asian region. 
• According to the American Society for the Prevention of Cruelty to Animals in 2023, every year, around 6.3 million companion animals are brought into animal shelters in the United States including 3.1 million dogs and 3.2 million cats. Moreover, as per December 2021 published in Frontiers in Veterinary Science, the estimated number of dogs in Thailand was 12.8 million heads, including 11.2 million owned dogs. Thus, the adoption of pets among the population globally is increasing the demand for pet monitoring which is believed to propel the market growth.
• In addition, rising technological innovations and initiatives from the key market players are further expected to drive market growth. For instance, in December 2021, The Link Smart Pet Wearable by Smart Tracking Technologies, LLC launched a series of dog obedience instructional videos to complement the remote tone and vibration tools of the device. The training tools are an important part of the complete pet ecosystem offered by the company. Such technological innovations in telemetry devices help in increased adoption to control pets, driving market growth.
• Therefore, factors such as rising pet adoption, the surge in demand for remote veterinary monitoring, rising initiatives, and technological advancements from the market players are all expected to drive market growth. However, the high cost of equipment is expected to hinder market growth.