Press release
Veterinary Software Global Market Report 2024 - By Growth, Trends, Share, Size, Forecast To 2033
Veterinary Software Market
The Business Research Company offers in-depth market insights through Veterinary Software Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The veterinary software market size has grown strongly in recent years. It will grow from $0.92 billion in 2023 to $0.97 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to increase in pet ownership, regulatory compliance needs, enhanced patient care, integration with laboratory services, business management efficiency.
The veterinary software market size is expected to see strong growth in the next few years. It will grow to $1.31 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to telemedicine adoption, focus on preventive care, increased data analytics use, interoperability and integration, expansion of specialty services. Major trends in the forecast period include electronic health records (EHR) for animals, remote monitoring of animal health, inventory management for veterinary clinics, client communication and education platforms, compliance with veterinary regulations.
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Market Segmentation:
The veterinary software market covered in this report is segmented -
1) By Product Type: Veterinary Practice Management Software, Veterinary Imaging Software, Other Product Types
2) By Type: Integrated Software, Stand-Alone Software
3) By Practice Type: Exclusive Small Animal Practices, Mixed Animal Practices, Exclusive Large Animal Practices
4) By Delivery Mode: On-premise, Cloud/Web-based
5) By End User: Hospitals/Clinics, Reference Laboratories
Major Driver - Rising Pet Health Expenditure Fuels Growth In Veterinary Software Market
The surge in spending on animal health is expected to propel the growth of the veterinary software market. Pet owners across the globe are considering their pets as part of their family and are spending equally on their health. The increase in animal spending and the growing number of pets are allowing hospitals and clinics to spend more on veterinary software to provide a seamless and customer-friendly experience. For instance, according to the report published by Finmasters 2022, a Romania-based media company, 2 out of 3 American households have pets which equals to 90.5 million houses in 2021, and Americans spent $124 billion on pets overall in 2021 which is 17% rise from the previous year. Such an increase in health spending is expected to boost the veterinary software market during the forecast period.
Competitive Landscape:
Major companies operating in the veterinary software market report are Henry Schein Inc., Zoetis, Patterson Companies Inc., Covetrus Inc., IDEXX Laboratories Inc., Carestream Health Inc., 2i Nova, MWI Animal Health, Sure Petcare, Ezyvet Ltd., Hippo Manager Software Inc., Timeless Veterinary Systems, Petabyte Technology, ImproMed, Finnish Net Solutions Oy, Clientrax, Business Infusions, Vetspire, Firmcloud Corporation, OR Technology, Vetter Software Inc., Animal Intelligence Software Inc., VetZ Limited, Via Information System, VetVision, Quantified Veterinary Care, GalaxyVet, Animal Practice Management Solutions, Masterpiece Veterinary
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Top Trend - AI-Powered Diagnostics To Address The High Frequency Of Dermatologic Conditions
Major companies in the veterinary software market are focused on developing AI-powered diagnostics, such as AI-based dermatology, to address the high frequency of dermatologic conditions and gain a competitive edge in the market. AI-based dermatology refers to the use of artificial intelligence algorithms to analyze and diagnose skin conditions in a quick and automated manner. For instance, in March 2023, Zoetis, a US-based animal health company, partnered with Techcyte, a US-based software company, to launch AI Dermatology for VETSCAN IMAGYST, an all-in-one deep learning SaaS platform for veterinarians. This AI-based dermatology feature joins other indications such as AI fecal analysis and AI blood smear analysis on the platform. Recognizing the prevalence of dermatologic conditions in pets, this AI algorithm quickly analyzes digitized slides, providing veterinarians with efficient results and allowing them more time for patient care.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Veterinary Software Market Characteristics
3. Veterinary Software Market Trends And Strategies
4. Veterinary Software Market - Macro Economic Scenario
5. Veterinary Software Market Size And Growth
…..
27. Veterinary Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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