Subjects: PET, MRR
Veterinary Software Market to grow by USD 184.07 million from 2022 to 2027|Rising awareness about disease prevention is one of the emerging trends- Technavio
NEW YORK, Dec. 10, 2023 /PRNewswire/ -- The veterinary software market size is set to grow by USD 184.07 million from 2022 to 2027, progressing at a CAGR of 6.25% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The rising awareness about disease prevention and pet insurance is an emerging trend in the market. The key factor for the growth is pet owners' concerns. This is due to the well-being, appearance, and health of pets. As a result, preventive healthcare for pets and other animals is becoming more popular. This includes vaccination regimens, nutrition, dental care, and other risk factor assessments. Furthermore, people are becoming more aware of these diseases, so pets are being diagnosed earlier, which improves clinical outcomes. Hence, the rising awareness among pet owners is expected to drive market growth during the forecast period. -Here is an Exclusive report about Market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes!
The report on the veterinary software market provides a holistic update, market size and forecast, trends, growth drivers, challenges, and vendor analysis.
Veterinary Software Market 2023-2027 - Market Dynamics
Major Driver
The rising pet population is a key factor driving the market growth. The number of domestic pets worldwide is increasing as number of people opting for adoption is rising. For example, most US households have at least one pet, usually a dog. In the US, there are significantly more dogs kept compared to cats. Furthermore, Brazil and India are also witnessing a significant increase in their pet populations. The key factor for adopting pets, according to a study on the psychology of pet owners, is that it helps in improving their physical and mental health. As a result, veterinary services and veterinary visits are rapidly rising globally. Hence, these factors are expected to drive the market growth during the forecast period.
Significant Challenges
The high cost of veterinary software is a major challenge restricting market growth. The price includes the cost of the software itself, the additional costs associated with the sale of hardware, the maintenance of servers and databases, and installation, support, add-ons, or upgrades fees. Furthermore, the price of the veterinary software depends on the end-user's preference. This software could be server-based/on-premises or cloud-based veterinary software. In addition, when using server-based/on-premises software, IT professionals' involvement is rapidly increasing in the modern veterinary team. Hence, these factors are expected to restrict the market growth during the forecast period.
Veterinary Software Market 2023-2027: Market Segmentation
The veterinary software market is segmented by product (practice management software and imaging software), deployment (on-premises and cloud-based), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
- The market share growth in the practice management software segment will be significant during the forecast period. The key factor driving the growth of the segment is high consumer demand and low prices. Medical professionals support and record various protocols and standards of care, monitor patient health, track inventory, and manage treatment processes with the help of practice management software. New management software for veterinary practices has shortened the treatment time and made life easier for pet owners. Hence, these advantages are expected to drive market growth during the forecast period.
This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report
What's New? -
- Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
- Global competitiveness and key competitor positions
- Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!
Companies Mentioned
- Animal Intelligence Software Inc.
- Brittons Wise Computer Inc.
- Carestream Health Inc.
- ClienTrax
- DaySmart Software
- Esaote Spa
- FirmCloud Corp.
- Henry Schein Inc.
- Heska Corp.
- Hippo Manager Software Inc.
- IDEXX Laboratories Inc.
- Nordhealth Ltd.
- Oehm und Rehbein GmbH
- Onward Systems Inc.
- Petabyte Technology Inc.
- Timeless Veterinary Systems Inc.
- VETport LLC
- Vetspire LLC
- VIA Information Systems
- Vitus Animal Health Inc.
Vendor Offering
- Animal Intelligence Software Inc. - The company offers veterinary software, namely AIGenesis.
- ClienTrax - The company offers veterinary software, namely ClienTrax Veterinary Practice Management Software.
- Heska Corp. - The company offers veterinary software such as easyVET and easyIMAGE through its subsidiary VetZ GmbH.
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TOC
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Product
- Market Segmentaion by Deployment
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Company Landscape
- Company Analysis
- Appendix
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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