Veterinary Software Market size is set to grow by USD 164.9 million from 2024-2028, Rising pet population to boost the market growth, Technavio

NEW YORK, June 26, 2024 /PRNewswire/ -- The global veterinary software market  size is estimated to grow by USD 164.9 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.41%  during the forecast period.  Rising pet population is driving market growth, with a trend towards rising awareness about disease prevention and pet insurance. However, shortage of veterinary clinics in developing countries  poses a challenge. Key market players include Animal Intelligence Software Inc., Brittons Wise Computer Inc., Carestream Health Inc., ClienTrax, DaySmart Software, Esaote Spa, FirmCloud Corp., Henry Schein Inc., Heska Corp., Hippo Manager Software Inc., IDEXX LABORATORIES INC., Nordhealth AS, Oehm und Rehbein GmbH, Onward Systems Inc., Petabyte Technology Inc., Timeless Veterinary Systems Inc., VETport LLC, Vetspire LLC, VIA Information Systems, and Vitus Animal Health Inc..

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Key Market Trends Fueling Growth

The veterinary software market is experiencing significant growth due to the rising demand for animal health diagnostics and preventive healthcare. Pet owners are prioritizing their pets' wellbeing, leading to increased veterinary visits and vaccinations. This trend is fueled by heightened awareness of various animal diseases and the availability of pet insurance. Veterinary software plays a crucial role in managing animal data, enabling veterinary professionals to focus on delivering effective animal-centered services. 

The animal healthcare industry is rapidly embracing technology, with veterinary software becoming a trending solution for practice management. These software systems enable efficient delivery of veterinary services, offering features like appointment scheduling, patient record management, billing, and inventory control. Delivery of veterinary services is crucial, and software solutions help streamline processes, ensuring optimal patient care. Models and practices adopt these systems for improved productivity and enhanced client experience. The market for veterinary software is expanding, with companies developing innovative features to cater to the evolving needs of the industry. 

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Market Challenges

• The veterinary software market in APAC faces challenges due to insufficient regulations and resources for pet care. Countries like India, Sri Lanka, China, Indonesia, and the Philippines lack adequate veterinary clinics and services, hindering market expansion. The scarcity of regulatory bodies and organizations in these regions prioritizes the safety of endangered species over domestic pets. For instance, Haryana, India's significant livestock rearing state, experiences a shortage of veterinary surgeons. Consequently, the absence of well-established veterinary facilities in developing countries poses a significant obstacle to the growth of the veterinary software market during the forecast period.
• The veterinary software market faces several challenges in delivering optimal solutions for animal healthcare providers. These include the need for conditional reporting and integration with various clinical instruments. Additionally, software must be user-friendly and adaptable to different practice sizes and specialties. Data security and compliance with regulations such as HIPAA are also significant concerns. Furthermore, software should offer efficient inventory management and enable seamless communication between staff members and clients. Lastly, the ability to handle telemedicine and remote patient monitoring is becoming increasingly important. Addressing these challenges requires continuous innovation and collaboration between software developers and veterinary professionals.

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Segment Overview 

This veterinary software market report extensively covers market segmentation by

1. Product 
• 1.1 Practice management software
• 1.2 Imaging software
2. Deployment 
• 2.1 On-premise
• 2.2 Cloud-based
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Practice management software-  The veterinary software market experienced significant growth in 2023, with practice management software (PMS) leading the revenue share. PMS streamlines workflows, documents care protocols, monitors patient health, and manages resources in veterinary practices. New features, such as direct access to lab results and integration of all clinic processes, enhance efficiency and reduce medical errors. These advantages are expected to fuel segment growth and boost the overall market expansion during the forecast period.

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Research Analysis

The veterinary software market caters to the unique needs of hospitals and clinics in the animal healthcare sector. These solutions enable effective practice management, including billing and invoicing, resource management, and inventory control. They also facilitate the implementation of health guidelines for companion animal ownership and pet insurance. Veterinary software plays a crucial role in managing animal health expenditure and streamlining veterinarian operations. Furthermore, advanced veterinary software includes veterinary imaging software, enhancing the quality of pet care through digital imaging systems. These systems contribute significantly to the veterinary industry's overall growth and efficiency.

Market Research Overview

The Veterinary Software Market encompasses a range of solutions designed to assist veterinary practices in managing their operations more efficiently. These software solutions include practice management systems, electronic health records, veterinary billing software, and animal clinic management systems. They offer features such as appointment scheduling, inventory management, patient record keeping, and billing and invoicing capabilities. The market is driven by the increasing demand for digitalization in the veterinary industry, the need for streamlined operations, and the growing trend towards telemedicine and remote consultations. The software solutions also help veterinary practices comply with regulatory requirements and improve patient care through data-driven insights.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Practice Management Software
• Imaging Software
• Deployment
• On-premise
• Cloud-based
• Geography
• North America
• Europe
• APAC
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio