Global Veterinary Software Market – Scenario
Market Research Future (MRFR) hypothesizes that the Global Veterinary Software Market is estimated to demonstrate 8.9 % CAGR during the forecast period (2018-2023) owing to the accelerating incidences of zoonotic diseases.
The veterinary software market is referred to as a sector consisting of two sectors; imaging software and practice management. While the practice management software assists the veterinarians to organize and manage appointments, the imaging software helps to capture the images of domestic companions like cats, dogs, and other farm animals.
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Competitive Dashboard
The prominent players operating the global veterinary software market are ClienTrax (US), Vetter Software (US), Finnish Net Solutions (Finland), Hippo Manager Software Inc. (US), Timeless Veterinary Systems (Canada), Carestream (Canada), Animal Intelligence Software (US), VETPORT (US), Britton’s Wise Computers Inc (US), MedaNext (US), OR Technology (Oehm Und Rehbein GmbH) (Germany), VIA Information Systems (US), Henry Schein Inc (US), FirmCloud Corporation (US), ezyVet Limited (New Zealand), Provet Cloud-Finnish Net Solutions Ltd (US), VetBlue (US), Onward Systems Inc (US), Patterson Veterinary Supply Inc (US), IDEXX Laboratories (US), and others.
Market Potential and Pitfalls
The global veterinary software market is likely to expand at a rapid pace throughout the appraisal period due to the increasing prevalence of zoonotic diseases globally. The augmenting adoption of an integrated software system for diagnostics and treatment is predicted to propel the market growth.
Factors such as mounting demand for pet insurance, augmenting companion animal ownership, rising animal health expenditure, and increasing product innovation are further gearing up the market growth.
On a brighter note, the emergence of cloud-based practice management systems coupled with the adoption of cost-efficient software solutions has stimulated the market growth over the years.
Additional factors promoting the market growth are the increasing digit of veterinary practitioners, the emergence of care centers, growing digit of pet owners, and the growing product advances and incorporation of add-on tools in order to improve practice results.
On the flip side, lack of awareness related to veterinary software coupled with the lack of government support in order to adopt latest technologies especially in the developing economies is considered some of the major concerns impeding the market growth throughout the appraisal period.
Moreover, the reluctance to embrace cutting edge and new systems is likely to restrain the market growth.
Global Veterinary Software Market – Segmental Analysis
The global veterinary software market has been segmented on the basis of product, type, practice type, delivery model, and end-user.
By mode of type, the global veterinary software market has been segmented into standalone software and integrated software.
By mode of product, the global veterinary software market has been segmented into veterinary imaging software, veterinary practice management software, and other software. Among these, the practice management software is likely to occupy the largest share as this software reduces the possibilities of error coupled with the overall cost of a veterinary healthcare facility.
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By mode of delivery model, the global veterinary software market has been segmented into web-based/cloud-based model and on-premise model.
By mode of practice type, the global veterinary software market has been segmented into mixed animal practices, exclusive small animal practices, and exclusive large animal practices.
Among these, the exclusive small animal practices segment is considered to dominate the market owing to the increasing annual spending on pet care in the developed economies coupled with the augmenting number of small pet owners.
By mode of end-users, the global veterinary software market has been segmented into clinics and ambulatory practices, veterinary hospitals and referral practices, and specialty and emergency hospitals.
Among these, the veterinary hospitals and referral practices are presumed to register the highest CAGR owing to the extensive usage of veterinary software for the management, preparation, and analysis of patient databases.
Detailed Regional Insights
Geographically, the veterinary software market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
Among all the regions, the North American region is considered to occupy the largest market share in the global veterinary software market. The growth is credited to the augmenting investment from the government in the growing demand for quality.
Factors such as increasing awareness regarding veterinary software coupled with the easy availability of software and services are promoting the market growth in this region.
The Asia Pacific region is anticipated to project the highest growth rate throughout the appraisal period. The growing prevalence of veterinary software, initiatives taken by the private organizations and the government in order to raise awareness associated with veterinary software, and undiagnosed pool in economies like India are highly contributing to the market growth in this region.
Europe is assessed to project the highest CAGR owing to the growing awareness of animal health worldwide. Meanwhile, the Middle East & Africa is predicted to occupy the least share in the global veterinary software market owing to the presence of strict government policies along with poor economies.
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Industry Updates
January 18, 2019: A San Diego-based pet care communication company, PetDesk has recently announced that they have raised around $12 million from a Silicon Valley-based firm PeakSpan Capital.
They have decided to use this Series B funding in order to expand from the veterinary industry into a pet grooming industry so that they can drive better health outcomes for companion animals in the North American region.
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