Kenneth Research has recently added a report titled North America Patient (Veterinary) Monitoring Devices market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021-2025. The North America Patient (Veterinary) Monitoring Devices market is further anticipated to grow with a CAGR of 4.5% during the forecast period. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
The North America Veterinary Patient Monitoring Devices market reached USD 115.38 Million in 2013 by registering a CAGR of 4.5% across North America. Moreover, the market is expected to garner USD 189.22 Million by the end of 2025. The North American demand for Veterinary Patient Monitoring Devices is increasing due to the massive growth of the healthcare industry across the region. Further, increasing awareness about animal diseases and the rising incidence of animal diseases is the key growth driver for North America Veterinary Patient Monitoring Devices market over the forecast period.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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The U.S is slated to account for a market share of 88.0% by 2027 in the North America Veterinary Patient Monitoring Devices market. Further, the market is expected to account for USD 166.5 Million by 2025 from USD 100.4 Million in 2013.
The U.S. market is further segmented on the basis of product type into Cardiac Monitoring, Respiratory Monitoring Devices, Hematological Monitoring Devices, Anesthesia Systems Monitoring Devices, Renal Function Monitoring Devices, Telemetry Devices, Multi-parameter Monitors and Other monitoring devices. In this segment, Cardiac Monitoring devices hold the highest market share in 2013 and are expected to hold the same position with a 25.6% share in the year 2024.
The U.S. market is also divided on the basis of configuration into Portable, Implantable and Modular & Compact monitoring devices out of which portable devices are expected to achieve a heist CAGR of 5.0% over the forecast period.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
The market is also divided on the basis of type into wireless and wired patient monitoring device within which wireless devices are expected to grow with the highest CAGR of 5.0% over the forecast period and is expected to capture a market value of USD 60.9 Million in the year 2025.
The U.S. market is also divided on the basis of End-User into hospitals, clinics, and others out of which hospitals are expected to achieve a high CAGR of 5.0% over the forecast years and is expected to capture a CAGR of USD 106.6 Million in the year 2025.
Canada market is expected to expand at a CAGR of 3.8% during the forecast period i.e. 2018-2024. The market is projected to reach a valuation of USD 22.7 Million by the end of 2024 from USD 15.0 Million in 2013. It is also expected to mark a growth rate of 4.3% in 2025.
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