Global Veterinary Cardiac Monitoring Devices Market: Introduction

A cardiac monitor is a powerful tool in hospitals and used to control a patient’s health, as it provides the cardiac rhythm in real-time. It is quite easy to place the monitor in just 30 seconds and one can get three different leads depending on what is needed or if some areas block to get lead II. It can also be used as a heart rate monitor during a test effort without the necessity of shaving the animal. At the veterinary clinic, the cardiac measurements of a pet’s heart can be performed with standard ECG or with other modalities. Seismocardiography (SCG) is a well-known modality for measuring the heart’s motion using accelerometers attached on the chest. Holter monitoring is a non-invasive method of assessing the heart’s rhythm and rate. It is a 24-hour electrocardiogram that is recorded while the animal is wearing a recorder. Holter monitor’s extended recording period is useful for observing occasional or intermittent cardiac arrhythmias that could be difficult to identify in during a routine clinical examination.

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Key Drivers of Global Veterinary Cardiac Monitoring Devices Market

Increase in Pet Adoption

  • According to Pethealth, Inc. (September 20, 2019), in North America, pet adoption rose 5.2% in August, up from a 3.2% rise in July, as both dog and cat rescues increased. The increased level of control and care dog owners provide to their dogs and the increase in perception of dogs as family members are indicators of the changing human-dog relationship in the U.S. According to the Multidisciplinary Digital Publishing Institute (MDPI), data collected by PetPoint in the past eight years indicate that adoptions increased in the last decade and could have become an additional driver affecting recent euthanasia declines across the U.S. According to the National Center for Biotechnology Information, the U.S. National Library of Medicine, the adoption numbers have been relatively stable in the last three decades, but the percentage of intake adopted rose from 20% in 1984 to about 35% in 1991, and stayed relatively stable at 35% from 1991 to 2005, then started rising, and had reached 52% by 2016. The factors mentioned above led the increase in pet adoption, which in turn drives the global market.

Rise in Awareness about Animal Health

Animal diseases compromise animal welfare, reduce productivity, and can infect humans, but are often tolerated. Poverty, lack of awareness, and dangerous folkloric medicine are aggravating the situation. In 2005, the Humane Center for Animal Welfare (HCAW) received funding from the World Society for the Protection of Animals (WSPA) for a Mobile Veterinary Clinic in support of those who cannot afford to bring their sick animals to the hospital. According to the Humane Center for Animal Welfare, 1,625 animal owners participated in the project who owned, according to their own statements, 177,983 animals, among which were mostly goats and sheep and fowl (chicken and pigeons) as well as dogs, horses, camels, donkeys, and mules, cows, cats, fish, and poultry. Increase in awareness and training in participatory development are required for those veterinary professionals who determine how programs for poor farmers are designed and implemented. Developing public awareness will become an increasingly important function for national animal-health services. An essential component for the success of any major livestock-disease control or eradication effort is an effective, broadly based public awareness program. It must be directed at all levels of the public - producers, consumers, traders, transporters, processors, wholesalers, retailers and travelers, and it must include decision-makers from all levels of government, private industry, and livestock organizations.

North America to Account for Major Share of Global Veterinary Cardiac Monitoring Devices Market

  • North America is projected to account for major share of the global veterinary cardiac monitoring devices market during the forecast period. The market in the region is anticipated to grow at a rapid pace in the next few years due to increase in research & development and various government initiatives for the development of novel ideas. Europe is expected to be the second largest market during the forecast period.
  • The veterinary cardiac monitoring devices market in Asia Pacific is likely to expand at a high CAGR during the forecast period. This can be attributed to rise in investment in research & development by private & government organizations and increase in health care management.

Key Players Operating in Global Veterinary Cardiac Monitoring Devices Market

The global veterinary cardiac monitoring devices market is highly consolidated owing to the presence of key players. Leading players operating in the global veterinary cardiac monitoring devices market are:

  • Bionet America
  • Smiths Medical
  • Medtronic
  • Digicare Biomedical
  • HiggsB
  • Midmark
  • Mindray

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Global Veterinary Cardiac Monitoring Devices Market: Research Scope

Global Veterinary Cardiac Monitoring Devices Market, by Product

  • Holter Monitor
  • Event Recorder
  • Others

Global Veterinary Cardiac Monitoring Devices Market, by Animal Type

  • Small Companion Animals
    • Dogs
    • Cats
    • Other Small Animals
  • Large Animals
    • Equines
    • Other Large Animals
  • Other

Global Veterinary Cardiac Monitoring Devices Market, by End-user

  • Veterinary Hospitals
  • Veterinary Clinics
  • Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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