by The global veterinary blood glucose monitoring market consists of blood glucose monitors used to test blood glucose levels in animals. Blood glucose monitors measure the concentration of glucose in the blood through a small blood sample. They help veterinarians monitor diabetes and other metabolic conditions in pets. The rising prevalence of diabetes and obesity in cats and dogs is a key factor driving demand for easy-to-use, pain-free blood glucose monitors.
The Global Veterinary Blood Glucose Monitoring Market is estimated to be valued at US$ 530.27 Bn in 2024 and is expected to exhibit a CAGR of 15% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the veterinary Blood Glucose Monitoring Market Size are IBM Corporation (IBM Watson Health), Exscientia, GNS Healthcare, Alphabet, Inc. (DEEPMIND), Benevolent AI, Biosymetrics, Euretos, Berg LLC., Atomwise, Inc., Insitro, and among others. The key players are investing in artificial intelligence and machine learning to develop easy-to-use, pain-free, and accurate technologies for veterinary blood glucose monitoring.
The growing prevalence of diabetes and obesity in companion animals is driving the demand for veterinary blood glucose monitors. The rising pet adoption and increased spending on pet healthcare have also fueled market growth. According to statistics, over 350 million dogs and cats across the world suffer from diabetes.
Globally, North America dominates the veterinary blood glucose monitoring market due to growing companion animal care expenditures and supportive government initiatives. However, Asia Pacific is expected to exhibit the fastest growth over the forecast period owing to rising pet adoption, increasing awareness regarding pet health, and growing per capita animal healthcare expenditure in the region.
Market Key Trends
Artificial intelligence and machine learning technologies are enhancing the accuracy and usability of veterinary Blood Glucose Monitoring Market Size. Key market players are focusing on developing AI-driven solutions such as non-invasive AI monitors that can detect glucose levels from pet images with minimal pain and effort. This trend is expected to drive market growth by improving pet-owner experience and making veterinary diabetes management simple and pain-free.
Porter’s Analysis
Threat of new entrants: Low requirement for starting veterinary blood glucose testing. However, established brands have economies of scale.
Bargaining power of buyers: Buyers have several options but rely on veterinary practitioners for accurate diagnosis and treatment.
Bargaining power of suppliers: Major suppliers possess significant technical expertise limiting negotiations.
Threat of new substitutes: Limited threat as substitutes require infrastructure investment from healthcare facilities and practitioners to switch.
Competitive rivalry: Intense competition among established companies to gain market share through new product launches and technology upgrades.
Geographical Regions
North America currently holds the largest share in terms of value due to increasing pet healthcare expenditure and higher adoption of advanced diagnostics. The region witnessed US$ 255.34 billion market size in 2024.
Asia Pacific is expected to exhibit the fastest growth over the forecast period owing to rising pet ownerships, growing pet care awareness, and improving healthcare infrastructure in countries like India and China. The region is projected to reach US$ 150.56 billion by 2031, expanding at a CAGR of 17.8%.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
