Segments - Global Veterinary Management Software Market by Products (Practice Management Software and Imaging Software), Delivery Mode (On-premise and Cloud/Web-based), Practice Type (Small Animals, Mixed Animals, Equine, Food-producing Animals, and Others), End-users (Hospitals/Clinics and Reference Laboratories), and Regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa) - Industry Analysis, Growth, Share, Size, Trends, And Forecast, 2023-2031
The veterinary management software market size was valued at USD 538.45 million in 2022 and is projected to reach USD 1.16 billion by 2028, expanding at a CAGR of 9% between 2023 and 2031.
Veterinary software is software that is used in the veterinary healthcare sector for functions other than medical practise, such as gathering client and patient information, billing tasks, appointment scheduling, client communication, and report generation.
Developers of PMS systems provide comprehensive solutions for managing a veterinarian’s office, including scheduling and record keeping. According to the reports published by American Veterinary Medical Association, there are around 68,000 and 22,000 veterinarians in North America and U.S.
Over the projection term, this number is expected to rise even further. The demand for these solutions to manage operations in clinics and reference laboratories is expected to rise as a result of the increase in number.
The outbreak of COVID-19 is expected to have a significant influence on market growth. Veterinary services are considered vital services in most areas, and were operational throughout the lockdown. The COVID-19 epidemic disrupted patients' usual routines around the world, resulting in lockdowns and social isolation. Companion animal adoption increased dramatically during the epidemic, owing to the loneliness and damaged mental health faced by the majority of the population.
Governments around the world offer less support to the veterinary software industry. In comparison to healthcare IT (HCIT) solutions like human EHR. This can be ascribed to a lack of incentives or funds for veterinary software implementation.
Government assistance for the installation of veterinary software is extremely limited in emerging nations like as Asia Pacific and Latin America which hampers the market growth.
This is a significant barrier for veterinary software suppliers who want to sell their goods and services all over the world.Web-based/cloud-based software is gaining popularity in the veterinary software market because it offers benefits such as reduced upfront, maintenance, and operational costs; data centralization capabilities; increased interoperability; storage flexibility; and automatic software upgradation.
The report on the veterinary management software market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Attributes |
Details |
Report Title |
Veterinary Management Software Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016-2021 |
Forecast Period |
2023-2031 |
Segmentation |
Products (Practice Management Software and Imaging Software), Delivery Mode (On-premise and Cloud/Web-based), Practice Type (Small Animals, Mixed Animals, Equine, Food-producing Animals, and Others), End-users (Hospitals/Clinics and Reference Laboratories) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players covered in the Report |
IDEXX Laboratories, Inc., Hippo Manager Veterinary Software, VitusVet, ESAOTE SPA, Covetrus, Patterson Companies, Inc., ClienTrax, VIA Veterinary Information Systems., and Onward Vet. |
Based on products, the market is bifurcated into practice management software and imaging software. The practice management software segment accounted for the major market share due to increased demand from consumers and cost-effective nature of these systems. T
hese systems assist practitioners in supporting and recording various standards of care protocols, healthcare recommendations, invoicing & billing, resource management, inventory monitoring, and overall treatment procedure management. By providing efficient workflow management solutions in veterinary care facilities, PMS aids in the delivery of superior animal health care.
On the basis of delivery types, the market is segregated into on-premise and cloud/web-based. The on-premise segment is projected to grow at a rapid pace during the forecast period owing to their low cost and extensive availability. The cloud/web-based segment is estimated to expand at a high CAGR during the forecast period. Users can access health information from any location, and these solutions help to limit the danger of data theft.
In terms of practice type, the market is fragmented into small animals, mixed animals, equine, food-producing animals, and others. The food producing animals segment held major market share in 2020 owing to increased demand for cost-effective solutions to preserve livestock health.
Growth of the segment is attributed to increasing demand from veterinarian medication makers who want to control the manufacturing process, keep track of product storage & quality, and monitor activities like pharmacovigilance.
Based on end-users, the market is segmented into hospitals/clinics and reference laboratories. The on-premise segment is estimated to grow at a rapid pace during the forecast period. Introduction of efficient information management systems and pet owner mobile technology are examples of developments in veterinary market. In the coming years, the reference laboratories segment is projected to grow at a rapid rate.
These laboratories are working on a variety of technologies for illness detection and monitoring. Farmers are being encouraged to adopt veterinary care techniques for food-producing species. Government agencies are becoming more active in creating guidelines for the promotion of reference laboratories around the world, which is projected to boost market.
On the basis of regions, the market is classified as North America, Latin America, Europe, Asia Pacific and Middle East & Africa. North American is anticipated to dominate the market during forecast period owing to the presence of well-established enterprises, advanced healthcare IT infrastructure, and high spending capacity of pet owners.
The growing number of pet health organisations, such as the world small animal veterinary association, as well as increased pet care spending by people and governments, are likely to fuel the market in the region.
Major players in the market include IDEXX Laboratories, Inc., Hippo Manager Veterinary Software, VitusVet, ESAOTE SPA, Covetrus, Patterson Companies, Inc., ClienTrax, VIA Veterinary Information Systems., and Onward Vet.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.