Veterinary Software Market

Global Veterinary Software Market

Veterinary Software Market - By product, Delivery Model, and Practice Type and Region.

Market Synopsis:

Global Veterinary Software Market is valued at USD 511.65 Million in the year 2022 and is projected to reach a value of USD 975.45 Million by the year 2030. The Global Market is anticipated to grow exhibiting a Compound Annual Growth Rate (CAGR) of 8.40% over the forecast period.

The prime factors that are projected to drive the Veterinary Software Market are the increasing demand for pet insurance with the growing animal healthcare expenditure and the increasing companion animal ownership. Moreover, the increasing requirement for the daily tasks in the veterinary hospitals is also one of the prime factors that are driving the Veterinary Software Market growth during the forecast period. In addition, the rising awareness about animal healthcare and the increasing demand for protein-rich foods are projected to boost the growth of the Veterinary Software Market in the upcoming years. Furthermore, the increasing demand for practice management systems (PMS) from veterinary doctors is the major contributor to the growth of the Veterinary Software Market during the forecast period.

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Additionally, the growth in the awareness regarding the benefits of the utilization of the software solutions and the rising number of clinical visits by the owners of the pets are projected to boost the demand for veterinary practices in the upcoming years. Furthermore, the animal healthcare industry is affected by the increasing companion pet ownerships and the worries associated with pet health which is expected to fuel the growth of the Veterinary Software Market during the forecast period. However, the increasing focus of the consumers on the safety and efficiency of livestock production is also another growth propeller factor for the market during the forecast period. Whereas, the rising adoption of cloud-based technologies is expected to provide lucrative opportunities for the growth of the Veterinary Software Market in the years to come.

Market Segmentation:

The Veterinary Software Market is segmented on the basis of product, delivery model, and practice type. On the basis of product type, the market is segmented as Veterinary Imaging Software, Veterinary Practice Management Software, and other Software. Based on the delivery model, the market is segmented into On-Premise Model and the Web-Based/Cloud-Based Model. Based on practice type, the market is segmented as Exclusive Small Animal Practices, Mixed Animal Practices, Predominantly Small Animal Practices, Predominantly Large Animal Practices, Exclusive Large Animal Practices, Exclusive Equine Practices, and Exclusive Bovine Practices.

The Veterinary Practice Management Software segment is projected to grow at the highest CAGR during the forecast period

Based on the product, the veterinary practice management software is expected to grow at the highest Compound Annual Growth Rate (CAGR) during the forecast period. The veterinary practice management software assists veterinarians in appointment management, boarding management, billing and invoicing, prescription labeling, maintaining patients’ records, and treatment management. Moreover, this software reduces the error possibility and the overall cost of the veterinary healthcare facilities, and thus these factors are likely to drive the Veterinary Software Market growth during the forecast period.

The on-premise delivery model segment is projected to acquire the largest market share during the forecast period

Based on the delivery model, the on-premise delivery software is estimated to acquire the largest share of the Veterinary Software Market growth during the forecast period. The highest growth of the on-premise segment is mainly attributed to the advantages of the on-premise delivery model like the low risk of data breach, availability of easy customization options, and flexible connection bandwidth.

North America is projected to account for the largest market share during the forecast period

North America is predicted to acquire the largest share of the Veterinary Software Market during the forecast period. The growth of North America is mainly attributed to the rising demand for quality pet care, and this in turn encourages vegetarian practices in order to adopt technology solutions like veterinarian practices management software, and digital imaging systems for better diagnosis.

Asia Pacific region is anticipated to be the fastest-growing region during the forecast period

Asia Pacific region is projected to be the fastest-growing region during the forecast period. The growth of the Asia Pacific is attributed to the increasing awareness among consumers about Veterinary Software and the increasing number of veterinary doctors in the Asia Pacific. The increase in the adoption of pets in emerging countries like India is also fueling the growth of Veterinary Software in the Asia Pacific during the forecast period.

Competitive Landscape:

The adoption of information systems by the key players in veterinary healthcare is authorizing more companies to enter the market and gain profit. Some of the key players in the market are Henry Schein Inc. (US), IDEXX Laboratories Inc. (US), Patterson Companies Inc. (US), Vetter Software Inc. (US), Animal Intelligence Software Inc. (US), Timeless Veterinary Systems Inc. (Canada), Britton's Wise Computer Inc. (US), ezyVet Limited (New Zealand), FirmCloud Corporation (US), OR Technology (Oehm Und Rehbein GmbH) (Germany), VIA Information Systems (US), Hippo Manager Software Inc. (US), Finnish Net Solutions (Finland), Carestream Health (Canada), ClienTrax (US) and others.

Segmentation of Global Veterinary Software Market: