This report also examines various aspects of the veterinary wearable devices industry by assessing the industry using value chain analysis. It includes a qualitative narrative on market drivers, market restraints, future opportunities and key industry trends of the veterinary wearable devices industry. Furthermore, it provides an in-depth assessment of the market competition with company profiles of global as well as local manufacturers.
With a broad range of veterinary wearables featuring innovative features, veterinary wearable devices are likely to record an impressive CAGR of over 13.6% over the forecast period. This represents USD 1,498.4 million revenue in the year 2018. In addition, intensive research and development activities towards availability of affordable veterinary wearable devices is further fuelling the growth of global market.
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Veterinary wearable devices are the equipment which has integration of wireless sensor technology in them, and is used to transfer information and data such as medical history and others of an animal or someone’s pet. The main aim of these devices is to provide better healthcare services to the animals and pets and improve their well-being by offering suitable medical treatments for the pets suffering from certain conditions especially in times of emergency or at times when no one is ready to take responsibility of the pet animal or street animal. The device contains integration of several recent features such as Bluetooth, gyroscope, NFC and GPS which aids in creating communication. This device is remotely connected with the smart phone or tablet of any other web enabled device. Further, increasing implementation of several technologies such as IoT and sensor technology in various sectors to offer better features to the users are the factors contributing to the growth of global veterinary wearable devices market over the forecast period.
Technological advancements as well as adoption of new technologies in several industries is further creating opportunities for the industry growth over the analysis period. Further, increase in healthcare spending across several nations especially for the research and development activities to offer improved products and services is positively impacting the growth of global wearable devices market. Based on regional point of reference, the North America and Europe wearable devices market are witnessing tremendous gains over the last few years owing to the technological advancements and people’s increasing disposable incomes in the regions.
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The device gives thorough understanding for several aspects such as burned calories, daily activities, sleep patterns and other important aspects for animal well being. Rising prevalence of COVID-19 has caused negative impact on the industry growth owing to the temporary shutdowns of factories and industries and travel bans across several regions.
While the global veterinary wearable devices industry is still in the primary phase, many major companies are creating feature-rich pet wearables and application alternatives. i4C Innovations, FitBark, PetPace LLC, Whistle Labs Inc., Tractive, and Garmin International Inc. are among the leading players on the market. These market players are developing fresh approaches including new product development, acquisitions, and working with device making and application development firms to more efficiently develop their product and capture greater market share.
Table of content:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Veterinary Wearable Devices Market Overview, by Technology
Chapter 5. Veterinary Wearable Devices Market Overview, by Applications
Chapter 6. Veterinary Wearable Devices Market Overview, by Region
Chapter 7. Company Profiles
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