Veterinary Glucose Monitoring Devices Market Size, Share & Trends Analysis Report By Product (Glucose Meters, Consumables), By Animal Type (Dogs, Cats), By End-use, By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

Veterinary Glucose Monitoring Devices Market Size, Share & Trends Analysis Report By Product (Glucose Meters, Consumables), By Animal Type (Dogs, Cats), By End-use, By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

Veterinary Glucose Monitoring Devices Market Growth & Trends

The global veterinary glucose monitoring devices market size is estimated to reach USD 1.17 billion by 2030, registering a CAGR of 7.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. This market growth can be attributed to the growing pet ownership and humanization, rising incidence of diabetes in animals, increased focus on preventive healthcare, technological advancements, and rising awareness and education.

The increasing trend of pet humanization and ownership across different countries has led to a rise in pet insurance enrollment rates across the globe. Owners are increasingly opting for insurance coverage to mitigate their expenses related to the diagnosis and treatment of diabetes in their pets. Managing diabetes in pets often involves multiple veterinary visits and insulin injections throughout the year, making insurance coverage desirable.

Diabetes mellitus and insipidus are covered under these pet insurance policies, provided the pet was enrolled before the onset of the disease. However, pets diagnosed with diabetes cannot be enrolled in new insurance policies as the condition is considered pre-existing. Such policies generally cover the entire treatment cost for the condition. Pet owners typically prefer to enroll their cats and dogs in insurance policies at the time of adoption. Thus, a rise in pet insurance enrollment is expected to drive the market growth. With more pet owners opting for insurance coverage, they are increasingly willing to invest in advanced healthcare solutions for their pets, including glucose monitoring devices.

Key players have introduced specialized pet diabetes monitoring devices since human glucometers are ineffective for measuring animals' blood sugar levels. For instance, Zoetis introduced AlphaTRAK blood glucose monitoring system, which is a simple-to-use veterinary tool that can assist pet owners in managing their companion's diabetes. In addition, the company offers online application software that is compatible with these devices and can be used to view reliable critical data on cell phones or tablets. For instance, the PetDialog App by Zoetis is used in conjunction with the AlphaTRAK tracking system. These factors are supporting market growth.

Veterinary Glucose Monitoring Devices Market Report Highlights

• By product, the glucose meters segment held the largest revenue share of 33.06% in 2023. This can be attributed to a growing trend towards preventive healthcare for pets, which involves regular monitoring of various health parameters, including blood glucose levels
• In 2023, the dogs segment accounted for the largest market share by animal type. Cats are expected to witness the fastest CAGR over the forecast period due to rising prevalence of diabetes among cats is increasing rapidly
• Based on end-use, veterinary hospitals & clinics dominated the global market with a share of 33.55% in 2023. On the other hand, home care settings are expected to witness the fastest CAGR over the forecast period
• By region, North America dominated the global market with a share of 40.79% in 2023 due to highly developed veterinary healthcare infrastructure with numerous clinics, hospitals, and specialty centers equipped with advanced diagnostic and treatment capabilities
• Asia Pacific is expected to witness the fastest CAGR over the forecast period due to growing pet ownership rates, the increasing awareness of pet diabetes management, and the broader trend of pet humanization

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