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Rising Pet Health Expenditure Fuels Growth In Veterinary Software Market Emerges as a Core Driver of the Veterinary Software Market in 2025
Veterinary Software
What Is the Expected CAGR for the Veterinary Software Market Through 2025?
There has been a consistent increase in the veterinary software market over the recent years. The market value is projected to surge from $0.95 billion in 2024 to $0.98 billion in 2025, marking a compound annual growth rate (CAGR) of 3.4%. The notable expansion during the historical phase can be credited to factors such as the rise in pet ownership, the need to comply with regulations, improved patient care, amalgamation with lab services, and efficiency in business management.
What's the Projected Size of the Global Veterinary Software Market by 2029?
Expecting robust growth in the coming years, the market size of the veterinary software is projected to expand to $1.38 billion by 2029, growing at a compound annual growth rate (CAGR) of 9.0%. The surge in growth during the forecast period is linked to the acceptance of telemedicine, emphasis on preventive healthcare, rise in the use of data analytics, linkages and consolidation, and broadening of specialty services. The forecasted period is likely to witness prominent trends like electronic health records (EHR) for pets, remote supervision of animal health, inventory administration in vet clinics, client engagement and awareness platforms, and adherence to veterinary regulations.
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Top Growth Drivers in the Veterinary Software Industry: What's Accelerating the Market?
The rise in expenditures on animal wellbeing is anticipated to drive the expansion of the veterinary software market. Globally, pet owners are treating their pets like members of their own families and are making health care a financial priority. The increase in spending on pets and a burgeoning pet population allows veterinary hospitals and clinics to invest more in software to deliver a smooth, pleasing customer journey. For example, the UK's RSPCA's animal kindness index for October 2023 highlighted that 81% of pet owners expressed concern over rising pet care costs, a significant increase from 68% in 2022. This trend in heightened health spending is set to stimulate growth in the veterinary software market over the projected period.
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What Trends Will Shape the Veterinary Software Market Through 2029 and Beyond?
Innovations in technology are becoming increasingly pivotal in the veterinary software market, with companies concentrating on creating cutting-edge products that boost operational capabilities of veterinary care providers. For instance, Covetrus Inc., an American company specializing in animal health products, unveiled a state-of-the-art, cloud-based veterinary operating system, Covetrus Pulse, in January 2022. This revolutionary system facilitates the prescription creation, renewal, and approval process, enables dashboard personalization, and allows integration with chosen third-party applications; all while enabling communication between colleagues and clients via one central system. All information can be securely stored and easily accessed from the cloud anytime it's needed.
What Are the Main Segments in the Veterinary Software Market?
The veterinary softwaremarket 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 Or Web-Based
5) By End User: Hospitals Or Clinics, Reference Laboratories
Subsegments:
1) By Veterinary Practice Management Software: Appointment Scheduling, Billing And Invoicing, Client Communication Tools, Electronic Medical Records (EMR), Inventory Management
2) By Veterinary Imaging Software: Radiology Software, Ultrasound Imaging Software, CT And MRI Imaging Software, Image Analysis And Storage Solutions
3) By Other Product Types: Laboratory Information Management Systems (LIMS), Telemedicine Software, Client Management And Marketing Tools, Inventory And Supply Chain Management Software
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Which Top Companies are Driving Growth in the Veterinary Software Market?
Major companies operating in the veterinary software market include 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
Which Regions Will Dominate the Veterinary Software Market Through 2029?
North America was the largest region in the veterinary software market in 2024. The regions covered in the veterinary software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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