According to a new report, published by KBV research, The Global Veterinary Glucose Monitoring Devices Market size is expected to reach $1.2 billion by 2031, rising at a market growth of 7.4% CAGR during the forecast period.
The Offline Stores segment is generating the highest revenue in the Global Veterinary Glucose Monitoring Devices Market by Distribution Channel in 2023; thereby, achieving a market value of $740 million by 2031. When shopping in offline locations, customers can connect with experienced staff, obtain product recommendations, and receive hands-on purchase assistance, which provides a personalized shopping experience. This personalized approach fosters customer trust and loyalty, especially in pharmaceutical industries where expert guidance is valued.
The Continuous Glucose Monitors (CGMs) segment is registering a CAGR of 7.2% during (2024 - 2031). CGMs provide continuous, real-time monitoring of pet blood glucose levels, offering a more comprehensive and detailed view of glucose fluctuations than traditional glucose meters. Also, CGMs offer a non-invasive or minimally invasive alternative to traditional glucose meters, eliminating the need for frequent blood sampling. This reduces pets' stress, discomfort, and pain, making glucose monitoring more tolerable and accessible for pet owners and veterinary professionals.
The Dogs segment is leading the Global Veterinary Glucose Monitoring Devices Market by Animal Type in 2023; thereby, achieving a market value of $622.8 million by 2031. Diabetes mellitus is a common endocrine disorder in dogs, with certain breeds being more predisposed to the condition. As a result, there is a significant population of diabetic dogs requiring regular glucose monitoring to manage their condition effectively. Dogs are among the most popular companion animals globally, with many pet dogs in households. The number of dogs as pets contributes to a higher demand for glucose monitoring devices tailored specifically for this segment.
The Veterinary Diagnostic Centers segment is experiencing a CAGR of 7.3% during (2024 - 2031). Veterinary diagnostic centers increasingly focus on preventive healthcare services, including screening for and monitoring chronic conditions like diabetes in pets. Glucose monitoring devices play a crucial role in these efforts by providing accurate and timely information about a pet’s blood glucose levels.
Full Report: https://www.kbvresearch.com/veterinary-glucose-monitoring-devices-market/
The North America region dominated the Global Veterinary Glucose Monitoring Devices Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $475.8 million by 2031. The Europe region is anticipating a CAGR of 7.1% during (2024 - 2031). Additionally, The Asia Pacific region would exhibit a CAGR of 8.3% during (2024 - 2031).
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