Healthcare & Pharmaceutical

Veterinary Glucometers Market By Glucometer Type (Venous, Subcutaneous, Capillary); By End-User (Veterinary Hospitals, Veterinary Clinics, Animal Research Institutes, Homecare Settings) - Global Demand Analysis & Opportunity Outlook 2027

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Report ID: 1102 | Published On: Jan 30, 2023

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.

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Global Veterinary Glucometers Market Overview

Veterinary glucometers measure the glucose content in the blood but since glucose levels are dependent on plasma quantity in the blood, most of the glucometers perform a calculation and report the estimated plasma glucose levels of the animals. Veterinary glucometers are also used in research to study obesity and diabetes in companion animals. Veterinary glucometer efficiency has been tested on various animals over the past such as in dogs, cats, deer, sheep, cattle, horses, birds, alpacas, ferrets, and rabbits. Veterinary glucometers gained attraction in the recent past for the purpose of checking blood sugar level in companion animals basically including cats and dogs. Veterinary glucometers are easy to use portable devices which can be easily handheld by vets and are suitable for use by diabetic pet owners. Veterinary glucometers generally work through auto code technology and biosensors. These devices are simple to use, be it on field or at home. Veterinary glucometers can estimate and report blood glucose level of companion animals in short period of time ranging from 8-10 seconds. Veterinary glucometers have the ability to upload readings in an electronic format after performing the tests. These devices are light, portable and mostly subcutaneous which makes it easier to use with minimal invasion and nominal blood sample requirement.

Market Size & Forecast

Veterinary Glucometers Market is anticipated to record a significant CAGR 3.8% over the forecast period. The veterinary glucometers market is anticipated to value at USD 20.6 Million during the forecast period. Various chronic and minor diseases as diabetes and obesity in prevailing animal population needing vaccination and treatment are anticipated to affect the global veterinary glucometers market positively over the forecast period i.e. 2018-2027.

The Veterinary glucometer market is anticipated to increase over the forecast period on account of increasing disposable incomes of the present population in developed as well as developing regions with increasing trend towards companion animal’s healthcare wellness. The rising trend of companion animal adoption for the purpose of safety, companionship and healthy heart, the veterinary glucometers market is expected to propel at a decent pace across the globe. Additionally, increasing geriatric population adopting companion animals and treating them as family is anticipated to expand the veterinary glucometer market during the forecast period.

On the basis of regional platform, global Veterinary Glucometers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

North America is anticipated to showcase the highest growth rate over the forecast period on account of increasing adoption rate of companion animals across the region over the forecast period and rising awareness regarding veterinary health among the population of the region. Europe is expected to follow North America in terms of value of veterinary glucometer market on the back of increasing healthcare awareness regarding animal health across the region.

Asia-Pacific is anticipated to display a significant growth rate on account of increasing disposable income of the demographics in the region with changing living standards of the population across the region on the back of improving economy. Additionally, rising trend of increased adoption of companion animals for better mental health is predicted to increase the demand for veterinary glucometers across the region during the forecast period. 

Veterinary Glucometers Market

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Market Segmentation

Our-in depth analysis of the global Veterinary Glucometers market includes the following segments:

By Glucometer Type

  • Venous
  • Subcutaneous
  • Capillary

By End-User

  • Veterinary Hospitals
  • Veterinary Clinics
  • Animal Research Institutes
  • Homecare Settings

By Region

Global Veterinary Glucometers Market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis.

Veterinary Glucometers Market Graph

Veterinary Glucometers Market
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Growth Drivers & Challenges

The increasing trend of embracing companion animal’s health across the globe for various reasons such as better mental health, safe and wholesome home environment as well as worthy companionship is expected to increase the demand for veterinary glucometers over the forecast period. Additionally, increasing health disorders such as diabetes and obesity in companion animals on the back of unhealthy and irregular feeding is anticipated to furthermore propel the veterinary glucometers demand among the pet owners as well as veterinarian’s population. American Veterinary Medical Association has reported that there has been an increase in the cases of companion animals diagnosed with type II diabetes since 2011. This increase in the number of veterinary diabetic patients is anticipated to add up to the speedy growth of veterinary glucometer market over the forecast period. Moreover, increasing living standards across the developed and developing regions of the world has displayed in an average adoption rate of 2 companion animals per family in the recent past which is predicted to increase the demand for veterinary glucometers across the globe over the forecast period. Furthermore, the minimally invasive application of most veterinary glucometers with the factors of portability and light weight is estimated to drive the market at a steady pace during the estimation period.

However, lack of expertise or dearth of knowledge to use these devices among the pet owners population is expected to behave as a restraint for the veterinary glucometers market in the developing and under-developed regions during the forecast period.

Veterinary Glucometers Market Graph
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