Veterinary Software Industry Overview
The global veterinary software market size is expected to reach USD 1.07 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.0% from 2022 to 2030. An increase in the prevalence of zoonotic diseases is a key factor for the growth of this market. Rising prevalence has triggered the demand for animal health diagnostics and monitoring services, which is expected to propel market growth over the forecast period. The growing adoption of integrated software systems for diagnostics and treatment is anticipated to fuel the market growth over the following years.
Veterinary Software Market Segmentation
Grand View Research has segmented the global veterinary software market on the basis of product, delivery mode, practice type, end use, and region:
Based on the Product Insights, the market is segmented into Practice Management Software, Imaging Software.
- Practice management software accounted for the largest revenue share of over 65.0% in 2021 due to the growing demand from consumers and the cost-effective nature of these systems.
- These systems help practitioners to support and record different standards of care protocols, healthcare recommendations, keep track of the patient's health with invoicing and billing, resource management, inventory tracking, and overall management of treatment procedures.
- The growing adoption of information systems in healthcare practices has significantly changed the way of care delivery to patients over the past decades. Novel veterinary practice management software permits hospitals and clinics to directly access results from diagnostic labs, hence bringing down the treatment time considerably and making life easier for pet proprietors.
- Cloud-based practice management systems are the best examples of technologically advanced and cost-efficient software solutions for pet health practices. The veterinary field has been following the paths of the human healthcare sector, which further supports the overall market growth.
Based on the Delivery Mode Insights, the market is segmented into On-premise, Cloud/Web-based.
- On-premise solutions dominated the overall industry in 2021 with a revenue share of over 50.0% owing to their low cost and widespread availability of these services. However, the cost of these platforms is higher as it includes the cost of the overall system and hardware and software package.
- This is expected to act as a restraining factor for the growth of on-premise services. The cloud/web-based solutions segment is anticipated to expand at a lucrative CAGR over the forecast period owing to its associated benefits. Users get remote access to health information and these solutions help in reducing the threat of information misuse.
- Moreover, the ease of access with proper IT infrastructure used in the deployment of the cloud/web-based solutions helps in increasing productivity and generating more profits for the organization. The high cost associated with their deployment is expected to limit their adoption by emerging players.
Based on the Practice Type Insights, the market is segmented into Small Animals, Mixed Animals, Equine, Food-producing Animals, Others.
- The food-producing animals segment held the dominant share of over 40.0% in 2021 due to the higher demand for cost-effective products to maintain livestock health.
- Increasing demand for such products from vet medicine manufacturers to control the process of manufacturing, maintain information related to product storage and quality, and monitor activities such as pharmacovigilance is fueling the segment growth.
- In addition, the introduction of veterinary control management systems that help in the identification and registration of livestock and maintenance of records of farms including owner details is expected to propel the adoption of these solutions over the coming years.
- The equine segment is expected to grow lucratively in the years to come owing to an increase in companion animal ownership, awareness, and demand for efficient pet care. An increase in pet ownership is a consequence of associated health benefits for humans.
Based on the End-use Insights, the market is segmented into Hospitals/Clinics, Reference Laboratories.
- The hospitals/clinics segment dominated the market for veterinary software and held a revenue share of over 50.0% in 2021. The adoption of these services is driven by technological advancements in pet care and this is anticipated to serve as a growth opportunity.
- These advancements include the advent of efficient information management systems and pet owner mobile technology. A high focus on innovation in animal health has given rise to certain measures that are being implemented or in the process of implementation, which are fueling the market growth prospects.
- The reference laboratories segment is expected to witness lucrative growth in the following years. These labs are developing various technologies for the detection and monitoring of various diseases.
Veterinary Software Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market for veterinary software is competitive. The industry is witnessing fierce competition owing to the increasing demand for practice management software. The registered growth in this sector is a consequence of undertaking extensive expansion strategies, geographical expansions, new product development, mergers & acquisitions, and collaborative research initiatives.
Some prominent players in the global veterinary software market include
- IDEXX Laboratories, Inc.
- Hippo Manager Software, Inc.
- VetZ Limited
- Esaote SpA
- Henry Schein, Inc.
- Patterson Companies, Inc.
- VIA Information Systems
- Onward Systems, Inc.
Order a free sample PDF of the Veterinary Software Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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