Veterinary Software Market will register a CAGR of almost 8.9% by 2023
Veterinary Software Market- Scenario
The global veterinary software market is anticipated to expand at 8.9 % CAGR during the forecast period (2018-2023) owing to the growing prevalence of zoonotic diseases, asserts Market Research Future (MRFR). Veterinary software market is a sector consisting of two software; practice management and imagining software. While the imaging software captures images of domestic companions such as dogs, cats, and other farm animals, the practice management software helps veterinarians manage and organize appointments.
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Veterinary Software Market- Competitive Analysis
The major players operating the global veterinary software market are Hippo Manager Software Inc. (US), Henry Schein Inc (US), VETPORT (US), OR Technology (Oehm Und Rehbein GmbH) (Germany), VIA Information Systems (US), VetBlue (US), Britton’s Wise Computers Inc (US), Animal Intelligence Software (US), Provet Cloud (US), Timeless Veterinary Systems (Canada), MedaNext (US), Carestream (Canada), ezyVet Limited (New Zealand), FirmCloud Corporation (US), Finnish Net Solutions (Finland), Patterson Veterinary Supply Inc (US), Vetter Software (US), ClienTrax (US), IDEXX Laboratories (US), Onward Systems Inc (US), and others
Drivers and Restraints Impacting the Market
The veterinary software market is rapidly growing owing to the rising prevalence of zoonotic diseases. With the adoption of integrated software system for treatment and diagnostics, the market is predicted to boom in the coming years. Increasing companion animal ownership, mounting demand for pet insurance, rising product innovation along with increasing animal health expenditure are leading the global veterinary software market. With the emergence of cloud-based practice management systems and cost-efficient software solutions, the market is predicted to expand.
On the flip side, lack of awareness associated with veterinary software and lack of government support to adopt latest technologies in developing countries are some of the major factors inhibiting the market growth during the forecast period.
Global Veterinary Software Market: Segmental Analysis
The global veterinary software market has been segmented on the basis of product, type, practice type, delivery model, end-user, and region.
By mode of type, the market has been segmented into standalone software and integrated software.
By mode of product, the market has been segmented into veterinary imaging software, veterinary practice management software, and other software.
By mode of delivery, the market has been segmented into web-based/cloud-based model and on-premise model. Among these, cloud/web-based solutions segment is predicted to grow at a profitable CAGR due to associated benefits.
By mode of practice type, the market has been segmented into mixed animal practices, small animal practices, and exclusive large animal practices. The segment for mixed animal practices has been further sub-segmented into predominantly large animal practices, and predominantly small animal practices. Exclusive large animal practices are sub-segmented into exclusive bovine practices and exclusive equine practices.
By mode of end-users, the market has been segmented into clinics and ambulatory practices, referral practices and veterinary hospitals, and specialty and emergency hospitals.
Global Veterinary Software Market- Regional Insights
Geographically, the veterinary software market spans across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World.
Among all the regions, North America is accounted for the largest share of the market owing to the growing government in demand for quality and increasing awareness about veterinary software. Also, easy availability of services and software in this region is expected to contribute to the market growth.
Asia Pacific is predicted to register the highest CAGR owing to the increasing prevalence of veterinary software, initiatives taken by private and government organizations to raise awareness about veterinary software, and undiagnosed pool in India.
The European region is predicted to witness the highest CAGR during the assessment period owing to the rising awareness of animal health globally. Meanwhile, the Middle East and Asia Pacific hold the least market share due to the presence of poor economies and strict government mandates.
Market Factor Analysis
- Porter’s Five Forces Analysis
- Value Chain Analysis
- Investment Feasibility Analysis
- Pricing Analysis
Provenance4, an Australian ID start-up will be launching a biometric ear tag that uses a bright-green day and night LED light which will alert managers to individual animal illness. This system tracks individual animal’s physical activity and temperature. The company signed a distribution agreement for New Zealand, Australia, and the Asia Pacific with the tag developer QuantifiedAG from Nebraska.
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