Jan 07, 2021 (The Expresswire) -- Global “ Veterinary Telemetry Systems Market ”Report 2021 studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors, and Porter's Five Forces Analysis. Also, Veterinary Telemetry Systems Market is predicted to grow at a CAGR of 6 during the forecast period. And report provides a complete market overview, a list of top manufactures, the scope of the report, key market trends of the Veterinary Telemetry Systems market, and the main aspect of the report- why do you have to buy this research report? So don’t miss it.
The report gives - Who are the global key players in this keyword market? What are their company profile, product information, and contact information? What Was the Global Market Status of Veterinary Telemetry Systems Market? What Was Capacity, Production Value, Cost and PROFIT of Veterinary Telemetry Systems Market?
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Veterinary Telemetry Systems Market Overview 2021:
The global veterinary telemetry systems market is expected to register a growth rate of CAGR of 6% during the forecast period, 2018-2023. Telemetry systems help collect data remotely, and transmit this data to receiving equipment for monitoring. A telemetry system refers to wireless data transfer, but could also refer to data transferred over wired technology, such as telephones, computer networks, and power line carriers. Major players are focusing on research and development, in order to bring innovative products to the market, which, in turn, is expected to drive the market studied. In addition, there has been an increase in the adoption of companion animals, across the world. For instance, in 2015, according to the estimates of the Animals and Society Institute, in the United States 65% of all households lived with a companion animal. The country also spent over USD 60 billion on pet food, toys, clothing, and travel paraphernalia, in that year. Thus, the increase in adoption of and expenditure on animals is expected to boost the veterinary telemetry systems market.
Tecchnological Advancements in Telemetry to Boost the Veterinary Telemetry Systems Market
The telemetry market has been experiencing various hurdles, owing to high costs. However, recent advancements are attracting customer interest, owing to the wide range applications in various types of animals, such as livestock animals, wild animals, and pets. Implantable telemetry and recent advances in the design of small, biocompatible antennas are helping users to collect regarding heart rate, blood pressure, electrocardiogram (ECG), electromyography (EMG), temperature, motor activity, etc. from animals ranging from small mice, to other larger animals, such as dogs, primates, and pigs. Hence, the capabilities of telemetry devices are being enhanced, to achieve improved animal welfare.
Additionally, factors, such as the augmentation of cloud computing and increase in healthcare expenditure on animals are also expected to drive the market growth.
Increasing Costs of Animal Testing and Veterinary Services to Restrain the Veterinary Telemetry Systems Market
The rising cost of animal testing and veterinary services may hinder growth of the telemetry services market. According to the US Bureau of Labor Statistics, the costs of veterinary care have been doubling since 2000. The costs have increased even faster than the cost of human healthcare. Thus, the increasing costs of veterinary services is expected to decrease the adoption of telemetry services, over the forecast period.
Other factors restraining growth of the market include the lack of awareness in the population and the lack of skilled labor for handling telemetry systems.
North America to Dominate the Veterinary Telemetry Systems Market
North America dominates the global veterinary telemetry systems market, owing to the increase in pet healthcare insurance, improved veterinary healthcare infrastructure, and better access to technologies in the region. According to the estimates of the North American Pet Health Insurance Association (NAPHIA), in 2014, the estimated value for the North American pet insurance market was USD 774 million. Furthermore, as per the estimates of American Pet Products Association (APPA), in 2017, USD 69.35 billion was spent on pets, by the US citizens. The rise in expenditure on pets and favorable insurance facilities in the region are expected to drive the market studied. However, Asia-Pacific region is expected to be the fastest-growing market, owing to rising awareness about pet care and an increase in incidences of diseases associated with pets.
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Top Key-players/Leading Manufacturers of Veterinary Telemetry Systems Market:
● Charles River ● DaVinci Biomedical Research Products ● Inc. ● Dextronix ● Inc. ● Digicare Animal Health ● DRE Veterinary ● Georgian Anesthesia ● GTS MED ● and TSE Systems International Group among others.
With tables and figures helping analyze the worldwide Global Veterinary Telemetry Systems market, this research provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
The Global Veterinary Telemetry Systems market analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.
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