The market for veterinary glucometers is expected to grow at a 5.1% CAGR through 2032. The global veterinary glucometers market is currently valued at US$ 336.2 Million in 2022, with a revenue value of US$ 579.4 Million expected by 2032.
Emerging trends in the veterinary glucometers market indicate that increasing cases of animal diabetes, as well as glucometer efficiency, which is particularly useful for dogs and cats, are expected to drive demand for veterinary glucometers through 2032. Key players’ new portable devices are establishing new market standards and manufacturing trends.
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The growing veterinary glucometer market is attributed to its simple glucose test in practise, whether in the field or at home. Biosensors and auto-code technology are at the heart of it. After performing the test, these veterinary glucometers have an additional bell or whistle and the ability to upload readings in an electronic format. These are some of the primary factors driving veterinary glucometer demand.
What are the Major Drivers and Restraints of the Veterinary Glucometers Market?
Advances in technology are expected to drive the global market for veterinary glucometers. Some factors, such as clients expecting a higher level of care and minimally invasive procedures for their pets, are expected to drive market growth for veterinary glucometers.
It is the largest segment of the veterinary glucometer market, which includes companion animals such as dogs and cats. The other end-user segment of the veterinary glucometers market includes veterinary hospitals, veterinary clinics, and home care settings.
Regional Analysis
What is the North America Growth Outlook for the Veterinary Glucometers Market?
North America is expected to lead the market due to improved healthcare facilities and rapidly advancing technology. The North American market dominates the veterinary glucometers market, accounting for 42% of the global market. The growing demand for veterinary glucometers is primarily driven by the changing lifestyles of pets and animals, with native lifestyles posing the greatest challenge.
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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 is growing at a steady CAGR. Due to increased awareness of veterinary diseases, Europe holds the second largest market, followed by Asia Pacific. Because of the large number of animal populations and rising diseases among animals as a result of inactive lifestyles and poor management, the veterinary glucometers market in this region is expected to be one of the fastest growing markets. Covid-19 has also boosted sales of veterinary glucometers, which are more convenient for use at home, particularly when other animal clinics are closed.
How Key Players are Contributing to the Veterinary Glucometers Market?
Key participants have combined cutting-edge technology with the most recent animal healthcare technology, such as faster results. COVID-19 has also pushed brands to adopt the technology in order to make monitoring easier. As the market rises and thrives in terms of growth prospects, competition among key players intensifies, 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.
Key Companies Profiled
- Nova Biomedical
- TaiDoc Technology Corporation
- BioNote Inc
- Woodley Equipment Company Ltd
- i-SENS. Inc.
- MED TRUST
- UltiMed, Inc.
- Biotest Medical Corp
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Key segments
By Animal Type:
- Dogs
- Cats
By End User:
- Veterinary Hospitals
- Veterinary Clinics
- Homecare Settings
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