The new report by Expert Market Research titled, ‘Global Veterinary Software Market Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the veterinary software market, assessing the market supported its segments like product type, application, end-user and major regions.
The report tracks the newest trends within the industry and studies their impact on the general market. It also assesses the market dynamics, covering the key demand and price indicators, along side analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size: USD 1.4 billion
- Forecast CAGR (2023-2028): 6.1%
- Forecast Market Size: USD 2 billion
Several factors, such as the prevalence of animal diseases, increasing companion animal ownership, and high demand for animal health monitoring and diagnostics services, are expected to contribute to the market for veterinary software growing at a significant rate during the forecast period. During the forecast period, the veterinary software industry is expected to be propelled by an increase in the number of pet owners and product innovations with the integration of advanced technologies by key market players.
Industry Definition and Major Segments
Veterinary software is a type of software that aids in the prevention, diagnosis, and treatment of animal diseases. A veterinary software system keeps track of patient information, treatment plans, and schedules. It also helps veterinarians record different care protocols, which is a crucial factor driving the growth of this segment.
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The global veterinary software market can be segmented on the basis of product type, practice type, end user and deployment.
Based on product type:
- Veterinary Practice Management Software
- Veterinary Imaging Software
Based on type:
- Integrated Software
- Stand-Alone Software
Based on deployment:
Based on practice type:
- Exclusive Small Animal Practices
- Mixed Animal Practices
- Exclusive Large Animal Practices
- exclusive equine practices
- exclusive bovine practices
Based on end-user:
- Reference Laboratories
The veterinary software market is being driven by rising pet adoption, rising zoonotic disease prevalence, and rising demand for animal health diagnostics. The software is primarily used by veterinarians to manage patient information, treatment planning, and appointment scheduling. This software is also used for a variety of back-office functions, such as accounting and operations. Client after-care instructions, a client-patient database, billing, boarding/grooming, capturing lost charges, client communications, client reminders, electronic medical records, electronic whiteboards, inventory control, and other features are among the most common features of practise management software. It also keeps drug databases up to date, saves time, and boosts productivity.
Furthermore, the market is being propelled forward by the increasing adoption of technologically advanced software, such as cloud-based practise management systems that provide solutions for all processes on a single platform. This advanced software is cost-effective and aids in business profitability monitoring and data access from a mobile device. Over the forecast period, a number of other factors, such as rising demand for animal-derived food products and an increase in the number of veterinary practitioners, are expected to fuel market growth.
Key Market Players
The major players within the market are Carestream Health, Inc., IDEXX Laboratories, Inc. , Animal Intelligence Software, Covetrus, Inc., Vetspire – Fgspire, Inc., Timeless Veterinary Systems Inc. and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of those market players.
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