Veterinary Glucometers Scanner Market Set to Witness an Uptick Size US$ 336.2 Mn 2022 – 2032: Future Market Insights, Inc.

Veterinary Glucometers Market Outlook (2022-2032)

The sales of veterinary glucometers market size is anticipated to grow at a CAGR of 5.1% through 2032. The global veterinary glucometers market size is currently valued at US$ 336.2 Mn in 2022 and is anticipated to cross the revenue value of US$ 579.4 Mn 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.

COVID-19 led to the shutdown of veterinary clinics, including government and public spaces. The sales of veterinary glucometers increased as pet parents started adopting pet care devices, including diabetic machines. The hand-handled diabetes monitoring machines are basically used in the field or at home as well. 1.5µl of blood sample is mostly taken for performing the tests while the results come out after the period of 8 seconds.

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 glucometer.

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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.

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.

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.

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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. Covid-19 has also fueled the sales of veterinary glucometers as they are more convenient for homes, especially when other animal clinics were closed.

How Start-ups are Influencing the Veterinary Glucometers Market?

Startups in veterinary glucometers market are conducting research and developments to make devices lightweight, portable, and almost often subcutaneous. These new companies are trying to make veterinary glucometers that are simpler to use with little invasion and little need for blood samples.

For example, an easy-to-use veterinary kit called the AlphaTRAK blood glucose monitoring device from Zoetis aids pet owners in managing their diabetic pet. Additionally, the businesses offer online application software that is compatible with these gadgets and may be utilised to access trustworthy critical data on smartphones or tablets. For instance, the PetDialog App by Zoetis is utilised in conjunction with the AlphaTRAK monitoring system. These elements are assisting the market’s segmented growth.

How Key Players are Contributing to the Veterinary Glucometers Market?

Key participants have added cutting-edge technology along with the latest animal healthcare technology like the faster results. COVID-19 has also pushed the brands to adopt the technology to make monitoring more convenient. As the market rises and thrives its growth prospects, the competition amongst the key players keeps on increasing, making the market more dynamic.

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.

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Key players

• Nova Biomedical
• TaiDoc Technology Corporation
• BioNote Inc
• Woodley Equipment Company Ltd
• i-SENS. Inc.
• MED TRUST
• UltiMed, Inc.
• Biotest Medical Corp

Report Scope
Growth Rate

CAGR of 5.1% from 2022 to 2032

Base Year for Estimation

2022

Historical Data

2016-2021

Forecast Period

2022-2032

Quantitative Units

Revenue in US$ Million and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

• Type
• Animal Group
• Application
• End User
  Regions Covered
• North America
• Latin America
• Western Europe
• Eastern Europe
• The Asia Pacific excluding Japan
• Japan
• The Middle East and Africa

Key Countries Profiled

• The U.S
• Canada
• Brazil
• Argentina
• Germany
• The U.K
• France
• Spain
• Italy
• Nordics
• BENELUX
• Australia & New Zealand
• China
• India
• GCC
• South Africa

Key Companies Profiled

• 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

By Region:

• North America
• Latin America
• Asia Pacific
• MEA
• Europe

About FMI:

Future Market Insights (ESOMAR certified 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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