Amidst discourse surrounding the racing industry’s social license to operate, the welfare of racehorses and jockeys is often at the forefront of discussions. Specifically, catastrophic events and the sudden death (SD) of horses on race days tend to capture media attention and often place the racing industry under public scrutiny. While such occurrences are not frequent, they have negative ramifications on the welfare of both racehorses and jockeys. The development of advanced diagnostic technology is therefore paramount to bettering the safety and welfare of horses and jockeys, as well as maintaining the integrity of the racing industry. Most importantly, the application of such technology could reduce the prevalence of avoidable injuries and SD. This review discusses the relevance of monitoring horses’ cardiovascular, respiratory, and thermometry biometrics and examines the currently available commercial devices capable of doing so. The review also explores the relevance and application of such devices within the racing industry and suggests how they may fit in with currently-available tools for monitoring the musculoskeletal health of racehorses.