Veterinary monitoring equipment global market to reach $573M by 2027
by Katie Pfaff
The worldwide market for veterinary monitoring equipment should reach a value of nearly $573 million by the year 2027, according to a report by market research group, Research and Markets. In 2020, the market was valued at $256 million and is projected to expand at a Compound Annual Growth Rate (CAGR) of 12.22% by 2027.
The growth of the veterinary monitoring equipment market has changed during the last few months due to COVID 19 and increasing awareness of zoonotic diseases arising from human-animal interaction that occurs almost daily. The ways individuals can get infected with germs that can cause zoonotic diseases generally include direct as well as indirect contact with animals. It also includes vector-borne, foodborne and waterborne diseases.
Due to increased pet ownership, at least one million direct and indirect jobs will be generated by pet ownership including veterinarians, breeders or connected supply industries. The increased propensity for pet ownership will fuel the need for medical attention and is expected to catapult the veterinary monitoring equipment market to a new echelon during the forecast period.
The vital sign monitors market should also develop significantly over the projected period. Monitoring aids in enhancing the consistency of surgical outcomes and, as a result, the reliability of data collected from animals.
Learn more about the report on Research and Markets’ website.
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