Veterinary Software Market Growth Potential, Global Business Insights, Influencing Demand, Strategic Assessment, Key Updates Competitive Analysis by 2023

Veterinary Software Market is predicted to grow at an 8.9% CAGR over the forecast period (2018-2023), states the latest Market Research Future (MRFR) report

Veterinary hospitals give medical treatment to animals, and they have a hectic schedule to consult pet owners, run tests of animal patients, provide treatment, and bill the customers (pet owners) accordingly. All the tasks can be simplified via veterinary software. Published report on the global veterinary software market by Market Research Future (MRFR), concludes that this market could see growth at 8.9 % CAGR between 2018 and 2023.

The foremost market driver of the global veterinary software market is the growing adoption of an integrated software system for diagnosis and treatment. Other important factors boosting the market growth include growing animal health expenditure, growing product innovation & integration for better practice outcomes, mounting demand for pet insurance, rising prevalence of veterinary software, demand for animal health diagnostic, requirement for monitoring services, rising companion animal ownership, and surging consolidation of the veterinary healthcare industry. However, lack of awareness about veterinary software in developing countries and insufficient government support to adopt new technologies can slow down the market growth.

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On the contrary, poor government incentives, lack of awareness, reluctance in embracing the cutting-edge and new system, and the high initial cost of veterinary software are factors that may restrict the veterinary software market growth over the forecast period.

Key Players – Veterinary Software Market

Leading players profiled in the veterinary software market report include Onward Systems Inc (US), IDEXX Laboratories (US), Vetter Software (US), ClienTrax (US), Patterson Veterinary Supply Inc (US), Finnish Net Solutions (Finland), FirmCloud Corporation (US), ezyVet Limited (New Zealand), Carestream (Canada), MedaNext (US), Timeless Veterinary Systems (Canada), Provet Cloud (US), Animal Intelligence Software (US), Britton’s Wise Computers Inc (US), VetBlue (US), VIA Information Systems (US), OR Technology (Oehm Und Rehbein GmbH) (Germany), VETPORT (US), Henry Schein Inc (US), and Hippo Manager Software Inc. (US), among others. Key market players have used different growth strategies to expand their presence and strengthen the product portfolio. These include collaborations, partnerships, agreements, product upgradation, and product launch.

Petriage, a cloud-based B2B telemedicine service for veterinarians, has signed an agreement with Florida-based PSIvet which is the largest veterinary group purchasing organization in the USA. As per the agreement, Petriage is going to be the exclusive provider of telemedicine services to over 5,000 independent veterinary practice members of PSIvet. 18 JUL 2019

Segments – Veterinary Software Market

The global veterinary software market has been studied by MRFR on the basis of a segmentation that  covers delivery model, end-user, type, practice type, and product.

Based on the delivery model, this veterinary software market has been segmented into the on-premise model and web-based/cloud-based model. During the forecast period, the cloud/web-based solutions segment is expected to experience more profitable growth due to associated benefits.

Regarding end-users, the veterinary software market has been segmented into clinics & ambulatory practices, referral practices & veterinary hospitals, and specialty & emergency hospitals. By type, the veterinary software market has been segmented into integrated software and standalone software.

In the context of practice type, the veterinary software market has been segmented into exclusive bovine practices, exclusive equine practices, exclusive large animal practices, exclusive small animal practices, mixed animal practices, predominantly large animal practices, and predominantly small animal practices. The exclusive large animal practices segment includes exclusive bovine practices and exclusive equine practices. The mixed animal practices segment includes into predominantly large animal practices, and predominantly small animal practices.

As per the segmentation based on products, the veterinary software market features veterinary imaging software, veterinary practice management software, and other software.

Regional Analysis – Veterinary Software Market

Region-specific highlights of the global veterinary software market includes the Americas (North America & South America), Europe, Asia Pacific, and the Middle East & Africa (MEA).

The Americas holds the largest market share in the global as North America alone has the potential to capture the biggest pie in the global veterinary software market due to growing awareness about veterinary software and increasing government investment in the growing demand for quality. Other factors boosting the growth in the North American market include the presence of key market players, availability of advanced medical facilities, and easy availability of software and services in this region. Majority of the key market players are operating in the USA. Canada is the second most significant country-specific market in this region. North America is the bigger regional market segment, compared to South America due to the availability of advanced medical facilities.

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In Europe, the market is expected to surge during the forecast period due to increasing awareness of animal health. Due to reasons same as the Americas, Europe is witnessing a substantial rise in the market. The largest country-specific markets in this region are France, Germany, Italy, Spain, and the UK.

During the forecast period, the Asia Pacific region can stand as the fastest growing regional market due to the increasing prevalence of veterinary software, initiatives by the government and other private organizations to raise awareness regarding the veterinary software, and an undiagnosed pool of potential patients in countries like India. Other important country-specific markets in this region are Australia, China, Japan, and South Korea. The MEA region holds the least market share due to the presence of stringent government policies and poor economies.

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