What are the Historical Developments and Current Growth Metrics of the Veterinary Software Market?
The veterinary software market has seen considerable growth due to a variety of factors.
• In recent years, there has been considerable growth in the veterinary software market. Predictions indicate that the market size will advance from $0.95 billion in 2024 to $1 billion in 2025, showing a compound annual growth rate (CAGR) of 4.8%.
This historical growth can be associated with factors such as a rise in pet ownership, the demand for regulatory compliance, improved patient care, amalgamation with laboratory services, and improved efficiency in business management.
What is the Market Size Forecast for the Veterinary Software Market?
The veterinary software market is expected to maintain its strong growth trajectory in upcoming years.
• The market for veterinary software is anticipated to experience swift expansion in the upcoming years. The value of this market is projected to reach $1.46 billion by 2029, growing at a compound annual growth rate (CAGR) of 10.0%.
The surge in growth during the forecast period can be associated with the adoption of telemedicine, a greater emphasis on preventative care, the rise in data analytics application, interoperability and integration, and the enlargement of specialized services. Noteworthy trends during the predicted period include electronic health records (EHR) for animals, distant monitoring of animal's health, inventory oversight in veterinary clinics, platforms for client communication and teaching, and conformity with veterinary regulations.
What Factors Are Driving Growth In The Veterinary Software Market?
The anticipated rise in animal health expenditure is set to accelerate the development of the veterinary software market. The growing tendency among pet owners worldwide to treat their pets as family members and dedicate equivalent resources to their health is being noticed. This rise in animal-related outlay and the growing pet population enables hospitals and clinics to invest more heavily in veterinary software for a more efficient and user-friendly service. As per the RSPCA’s animal kindness index from October 2023 based in the UK, it was noted that the growing costs of pet care caused anxiety for 81% of pet owners, a significant rise from 68% in 2022. Such a trend in healthcare expenditure is anticipated to uplift the veterinary software market in the estimated time frame.
What Are The Major Segments Within The Veterinary Software Market?
The veterinary software market covered in this report is segmented –
1) By Product Type: Veterinary Practice Management Software, Veterinary Imaging Software, Other Product Types
2) By Type: Integrated Software, Stand-Alone Software
3) By Practice Type: Exclusive Small Animal Practices, Mixed Animal Practices, Exclusive Large Animal Practices
4) By Delivery Mode: On-Premise, Cloud Or Web-Based
5) By End User: Hospitals Or Clinics, Reference Laboratories
Subsegments:
1) By Veterinary Practice Management Software: Appointment Scheduling, Billing And Invoicing, Client Communication Tools, Electronic Medical Records (EMR), Inventory Management
2) By Veterinary Imaging Software: Radiology Software, Ultrasound Imaging Software, CT And MRI Imaging Software, Image Analysis And Storage Solutions
3) By Other Product Types: Laboratory Information Management Systems (LIMS), Telemedicine Software, Client Management And marketing Tools, Inventory And Supply Chain Management Software
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Which Trends Are Expected To Transform The Veterinary Software Market?
Technological progression is becoming a popular trend in the veterinary software market. Companies within this industry are concentrating on creating cutting-edge products to augment the operational potential of businesses in the animal healthcare sector. In January 2022, Covetrus Inc., an American company specializing in veterinary health products and services, introduced Covetrus Pulse, a pioneering, cloud-based veterinary operating system. The functions of Covetrus Pulse range from managing prescriptions to customizing dashboards with favorite third-party apps and facilitating communication between colleagues and customers via a unified operating system. All data is securely stored on the cloud for easy retrieval whenever necessary.
Who Are the Key Players in the Veterinary Software Market?
Major companies operating in the veterinary software market include:
• Henry Schein Inc.
• Zoetis
• Patterson Companies Inc.
• Covetrus Inc.
• IDEXX Laboratories Inc.
• Carestream Health Inc.
• 2i Nova
• MWI Animal Health
• Sure Petcare
• Ezyvet Ltd.
• Hippo Manager Software Inc.
• Timeless Veterinary Systems
• Petabyte Technology
• ImproMed
• Finnish Net Solutions Oy
• Clientrax
• Business Infusions
• Vetspire
• Firmcloud Corporation
• OR Technology
• Vetter Software Inc.
• Animal Intelligence Software Inc.
• VetZ Limited
• Via Information System
• VetVision
• Quantified Veterinary Care
• GalaxyVet
• Animal Practice Management Solutions
• Masterpiece Veterinary
What Is The Most Dominant Region In The Veterinary Software Market?
North America was the largest region in the veterinary software market in 2024. The regions covered in the veterinary software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
