Market Trends of Veterinary Telemetry Systems Industry
Wearables are Expected to Witness Significant Growth Over the Forecast Period
- Pet wearables refer to devices worn on the pet's body to serve various purposes, such as identification, tracking, monitoring, controlling, medical diagnosis, treatment, facilitation, safety, and security. One of the most common uses of pet wearables, such as smart collars, is tracking the whereabouts of pet animals.
- With the help of wearables, owners not only track their pets but also help other people identify pets that have strayed off and return them to their rightful owners. Owners can track the location of their pets and identify them easily within a limited time by using their smartphones. The advantages of wearable identification and tracking are expected to drive segment growth during the forecast period.
- Rising initiatives from the key market players in the launch of their products, such as pet wearable devices, will also bolster segment growth. For instance, in July 2021, Whistle launched its newest pet wearable, The Whistle Switch Smart Collar, a total health and fitness tracking and 24/7 GPS location monitoring device to help pet owners understand the key health indicators of their pets. Such initiatives help in the increased adoption of pet wearable devices, driving the segment's growth.
- With the advancements in telemetry, veterinary telemetry devices are largely being used in veterinary practices due to their profound importance. For instance, according to the study published in Science Direct in September 2021, wearable veterinary devices move the field away from a reactive healthcare system toward a proactive culture that can spot diseases early and enable veterinarians to remotely monitor a patient's vital signs in addition to other factors.
- The way veterinarians acquire and use patient data to perform medicine may be significantly altered by advancements in this technology. Such studies show the importance of wearable devices in veterinary healthcare, driving the segment growth.
- With the development of technologically advanced wearable devices hand in hand with the importance of wearable devices in veterinary healthcare, the segment is believed to witness strong growth over the forecast period.
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North America is Expected to Witness Strong Share in the Veterinary Telemetry Market During the Forecast Period
- In the North American region, the United States is believed to hold a significant share of the veterinary telemetry systems market. The growing awareness among pet owners about pet monitoring in the United States is one of the major factors driving the growth of the market in the country.
- The growing pet population in North America, with an increase in spending on pet care, is fueling the market growth. For instance, according to the 2021-2022 National Pet Owners Survey conducted by the American Pet Products Association (APPA), 70% of United States households own a pet, which equates to 90.5 million homes. In addition, according to the same source, during 2021-2022, around 69 million United States households owned a dog, and 45.3 million families owned a Cat, among other pet animals.
- Besides that, according to the Canadian Animal Shelter Statistics Report 2021, the number of cats and dogs that entered humane societies and SPCA shelters in 2021 were dogs (20,974) and cats (60,677). Therefore, such a huge adoption of pets may drive the growth of the veterinary telemetry market in the longer-term process in the region during the forecast period.
- Moreover, the rising initiatives from the key market players in the region are further expected to bolster market growth. For instance, in July 2021, Sure Petcare launched FELAQUACONNECT, a unique water delivery and drinking monitoring system for cats. The smart water delivery system of FELAQUACONNECT, created in partnership with top veterinarian behaviorists, gives cats a source of fresh water while allowing cat owners to monitor their cats' daily water intake via the SURE PETCARETM App.
- Hence, looking at the high pet adoption in the country and the well-established veterinary healthcare system, the United States is expected to witness a strong share in the veterinary telemetry market.
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