Global Veterinary Software Market By Product (Imaging Software and Practice Management Software), By End-Use (Reference Laboratories and Hospitals/Clinics), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Veterinary Software Market Overview:

The global Veterinary Software market was valued at USD 541.2 million by 2021. This market will grow at a 6.7% CAGR, from 2023 to 2032.

Market growth can be attributed to the growing demand for Practice Management Systems by veterinary practitioners. Additionally, increasing awareness of the benefits of using software solutions and an increase in pet owners’ clinical visits are expected to drive the adoption of software solutions within veterinary practices over the forecast period.

An increase in companion animal ownership and concerns about pet health are affecting the animal health industry. The safety and efficiency of livestock production are another important growth factor.

Global Veterinary Software Market Analysis

Product Analysis

The growing demand for practice management software (PMS) and its cost-effectiveness accounted for the highest revenue share at over 66% in 2021. These systems enable practitioners to track and maintain patient records, support various care protocols and healthcare recommendations, as well as invoicing and billing. They also allow for resource management and inventory tracking. The segment will see growth due to these benefits. PMS is a solution that provides efficient workflow management for veterinary care facilities. This helps improve animal health care.

In the last decade, healthcare providers have seen a significant shift in the way they deliver care to patients. Software for managing veterinary practices allows clinics and hospitals to access diagnostic lab results directly. This reduces the time it takes to treat patients and makes life easier for pet owners.

Sharing data over the internet improve treatment efficiency, and lowers the chance of medical errors. It is also expected that technologically advanced software will be available to help with all processes at veterinary clinics.

Cloud-based practice administration systems are one of the most technologically advanced and economical software solutions available for pet health. The overall market growth is supported by the fact the veterinary profession has followed the footsteps of the human healthcare industry.

Additionally, the growth of the practice management software sector is driven by increasing animal health expenditure across the world, an increase of veterinary practitioners, a rising pet population, and high demand for animal-derived food products coupled with the availability of pet insurance. Over the next few years, the adoption of PMS will also be fueled by innovative solutions that deliver accurate and fast results.

End-Use Analysis

In 2021, the hospitals/clinics market dominated the veterinary software market and held a high revenue share. Technological advancements in pet care are driving the adoption of these services and it is expected to provide a growth opportunity. These innovations include efficient information management systems for pets and mobile technology for pet owners.

Certain measures are in development or are in the process of being implemented because of the emphasis on innovation in animal care. This is fueling the market growth.

The market for reference laboratories is expected to grow in the next few years. These laboratories are working on various technologies that can detect and monitor different diseases. The government’s animal welfare policymakers encourage farmers to adopt veterinary practices for food-producing birds through targeted incentives.

This encourages more people to seek out animal health care facilities. Globally, government agencies are becoming more involved in the development and promotion of reference labs. This is expected to increase the market growth.

Key Market Segments

By Product

• Imaging Software
• Practice Management Software

By End-Use

• Reference Laboratories
• Hospitals/Clinics

Market Dynamics

PMS system developers offer comprehensive solutions to manage a veterinarian’s practice, including keeping records and scheduling. The American Veterinary Medical Association published data that shows that private practice is the norm for approximately 70,000 North American veterinarians and 25,000 British vets. This number is expected to rise over the forecast period. This is expected to drive the demand for these solutions in managing operations in clinics or reference labs.

The market growth will be affected by the outbreak of COVID-19. Most regions consider veterinary services essential and they continue to function even after the lockdown. This has led to the continuing revenue generation among veterinary practices, which in turn has helped to grow this market. The COVID-19 epidemic caused dramatic changes to the daily routine of patients, with social isolation and lockdown measures in place around the globe. Companion animal adoptions saw an increase due to the loneliness and disturbed mental state of most of the population during this pandemic.

As an example, the Japan Pet Food Association survey indicates that there has been a 17% rise in cat and dog ownership in 2021. In Japan, there were 8.49 million pets and 9.64 million cats as of October 2021.

This led to a surge in virtual pet care visits, and consequently high adoption of software solutions for veterinary medicine. This trend will continue over the next few years as pet owners have increased in number. According to the American Pet Products Association (APPA), 33% of pet owners had a dog while 27% owned cats. Thus, market growth is further accelerated due to the increased adoption of pets.

Regional Analysis

North America was the market with the highest revenue share, at 42%, in 2021. It is expected that it will continue to hold this position through the forecast period. This market is dominated by advanced healthcare IT infrastructure, well-established businesses, as well as pet owners with high spending habits. Investors in this sector have lucrative opportunities to take advantage of the large opportunities offered by PMS implementation in this region.

Market growth is also expected to be boosted by the increasing number of pet-health organizations, such as the World Small Animal Veterinary Association. This is in addition to the growing pet care expenditures by individuals and governments.

Due to the rising demand for veterinary practices management in the Asia Pacific, a steadily growing livestock population, growing demand for animal-derived food products, and increasing pet adoption, the market is predicted to grow at a profitable CAGR of 7.2% over the forecast period.

In the next few years, the market will continue to grow due to the growing awareness of patients and doctors about unmet medical needs. The market will continue to grow due to unmet clinical needs and growing awareness amongst patients and doctors.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

The market for veterinary technology is very competitive. Because of the growing demand for practice management programs, there is fierce competition in this industry. The sector’s growth is due to numerous expansion strategies, geographical expansions as well as new product development, and mergers & acquisitions.

Companies are investing heavily in R&D in veterinary software development to keep their edge. Established players are investing in imaging software. They also adopt mergers & acquisitions strategies and join local players in collaborative activities to expand their market share.

Маrkеt Кеу Рlауеrѕ:

• DEXX Laboratories Inc.
• VetZ Limited
• Hippo Manager Software Inc.
• Henry Schein Inc.
• Esaote SpA
• Patterson Companies Inc.
• VIA Information Systems
• ClienTrax
• Other Key Players

For the Veterinary Software Market research study, the following years have been considered to estimate the market size: