Veterinary Software Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Product, Delivery Models, Animal Type (Companion Animals and Farm Animals), and Geography

Market Snapshot

veterinary software market
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

7.1%

Key Players:

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Market Overview

The Veterinary Software market is majorly driven by the factors such as product innovation and software integration in the veterinary healthcare, increasing opportunities for practice management, adoption of information systems in the veterinary healthcare and growth in the demand for farm animals. 

According to the Veterinary Hospital Managers Association (VHMA), as a result of the growing demand for pet care, the requirement for more advanced equipment, processes, and most importantly, systems and software, has also increased. It has been acknowledged by veterinarians that the professional management of veterinary practices has become a prime concern, to remain competitive by fulfilling every possible requirement of the client. Being involved in various levels and aspects of responsibility regarding how a veterinary hospital works, a veterinary hospital manager needs to create scope for the team to deliver efficient and quality healthcare to animals. For example, a hospital administrator has the responsibility of supervising all financial, operational, human resource, and business development activities.

Owing to the fact that technological solutions help improve patient communication, diagnostic potential, and in incorporating the business, it can be inferred that software integration has the potential to reduce labor time and rate of error, and enhance productivity and the quality of patient care.

Moreover, veterinary practice software has experienced advancements in terms of integrating with diagnostic and laboratory equipment, and also for streamlining data, lab results, and images, directly into a patient’s medical record, which can be remotely shared with other veterinary practitioners for various purposes, such as consultations, dual treatments, training, etc. Thus, the increasing need for providing optimum care to animals by proper practice management is expected to drive the growth of the market studied.

Scope of the Report

Veterinary software refers to the software that serves the veterinary healthcare industry, used for dealing with everyday operations of an animal clinic, other than the medical practice, such as client and patient detail capturing, billing tasks, appointment scheduling, client communication, and report production.

By Product
Practice Management
Veterinary Imaging
Other Products
By Delivery Model
On-Premise
Cloud
By Animal Type
Companion Animals
Farm Animals
Geography
North America
US
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Practice Management is Expected to Witness a Healthy CAGR Over the Forecast Period

Veterinary practice management software is used by veterinarians to manage patient information, treatment planning, and scheduling, as well as back-office functions, such as accounting. Some of the features of practice management software are after-care instructions for clients, billing, boarding/grooming, capturing lost charges, client-patient database, client communications, client reminders, electronic medical records, electronic whiteboards, inventory control, and many others.

Certain strategic movements that are seen in the market are helpful for the growth of the same. For instance, recently, in May 2018, Cornell University College of Veterinary Medicine partnered with ezyVet to use the company’s cloud-hosted veterinary practice management software (PMS).

Such partnerships, along with the adoption of new technology, are expected to boost the overall growth of the veterinary software market, over the forecast period.

veterinary software market

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North America Dominates the Market

North America is expected to retain the largest market share in market studied, over the forecast period, owing to the rising companion animal adoption and increasing per capita animal healthcare expenditure.

In addition, growing awareness about pet health among the pet owners, rise in product innovation, software integration, sophisticated technology, a high percentage of tech-savvy owners, advanced healthcare IT infrastructure, and ample scope for the implementation of PMS are some other factors propelling the growth of the Veterinary Software in North America. Veterinary software has various benefits, as they help manage the administrative function and patient data, and also helps in billing and maintaining the client-patient database.

Some of the major players in the region are Henry Schein Inc. (US), Idexx Laboratories Inc. (US), Patterson Companies Inc. (US), and Britton's Wise Computer Inc. (US).

veterinary software market

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Competitive Landscape

The Veterinary Software market is moderately competitive and currently, adoption of information system in veterinary healthcare is allowing more companies to penetrate the market and gain profits. Global players such as IDEXX laboratories and Carestream Health are providing their services worldwide whereas, certain countries like the United States, Germany, etc are having a large number of local players as well.

Major Players

  1. Carestream Health
  2. IDEXX Laboratories Inc.
  3. Patterson Companies, Inc.
  4. Animal Intelligence Software, Inc.
  5. Henry Schein Veterinary Solutions

* Complete list of players covered available in the table of contents below

veterinary software market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Product Innovation and Software Integration

      2. 4.2.2 Increasing Opportunities for Practice Management

      3. 4.2.3 Adoption of Information Systems in Veterinary Healthcare

      4. 4.2.4 Growth in Demand for Farm Management

    3. 4.3 Market Restraints

      1. 4.3.1 Shortage of Technologically Skilled Veterinarians

      2. 4.3.2 Lack of Government Incentives for Software Adoption

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Practice Management

      2. 5.1.2 Veterinary Imaging

      3. 5.1.3 Other Products

    2. 5.2 By Delivery Model

      1. 5.2.1 On-Premise

      2. 5.2.2 Cloud

    3. 5.3 By Animal Type

      1. 5.3.1 Companion Animals

      2. 5.3.2 Farm Animals

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 US

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 UK

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Animal Intelligence Software Inc.

      2. 6.1.2 Carestream Health

      3. 6.1.3 FirmCloud Corp.

      4. 6.1.4 Henry Schein Veterinary Solutions

      5. 6.1.5 IDEXX Laboratories Inc.

      6. 6.1.6 OR Technology - Oehm und Rehbein GmbH

      7. 6.1.7 Patterson Companies Inc.

      8. 6.1.8 Timeless Veterinary Systems

      9. 6.1.9 Vetter Software Inc.

      10. 6.1.10 VIA Information Systems

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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