Veterinary Software Market to Grow by USD 164.9 Million from 2024-2028, Driven by Rising Pet Population, Report on How AI Is Driving Market Transformation - Technavio

NEW YORK, Nov. 11, 2024 /PRNewswire/ -- Report with the AI impact on market trends - The global veterinary software market size is estimated to grow by USD 164.9 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.41%  during the forecast period. Rising pet population is driving market growth, with a trend towards rising awareness about disease prevention and pet insurance. However, shortage of veterinary clinics in developing countries  poses a challenge.Key market players include 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 AS, Oehm und Rehbein GmbH, Onward Systems Inc., Petabyte Technology Inc., Timeless Veterinary Systems Inc., VETport LLC, Vetspire LLC, VIA Information Systems, and Vitus Animal Health Inc..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Market Driver

The veterinary software market is experiencing significant growth due to the increasing demand for efficient practice management solutions in hospitals and clinics. Practice management software is a key trend, offering features like billing and invoicing, resource management, inventory control, treatment procedure management, and patient health condition tracking. Established economies are leading the market, but emerging countries are also investing in these systems due to health guidelines and the growing pet population. Important players include IDEXX Laboratories, Vetlandia, and Vetter Software. Delivery modes include on-premise and cloud-based solutions, with scalability and multilocation capabilities important for larger veterinary hospitals and independent clinics. Customization options, data centralization, interoperability, and automatic software upgradation are essential for operational efficacy and profitability. Small animal practices and large animal practices benefit from veterinary software, with a focus on patient care, business operations, surgery, imaging, emergency care, and specialized treatments. Digital tools like patient portals, appointment booking, and client experience management enhance customer satisfaction. Product developments and software integration are ongoing to meet the specific requirements of veterinarians and pet owners. The veterinary software market is influenced by factors like companion animal ownership, pet insurance, animal health expenditure, and the growing need for quality pet care. Digital imaging systems and customization options are crucial for effective decision-making and efficient business operations. Storage flexibility and automatic software upgradation ensure data security and system reliability. 

Pet owners prioritize their animals' health and wellbeing, driving demand for veterinary services and diagnostics. Preventive healthcare, including regular examinations, vaccinations, nutrition plans, and risk assessments, is a growing trend. Veterinary software plays a crucial role in managing this data, enabling veterinary professionals to deliver effective animal care services. Owners adhere to vaccination schedules and focus on preventative measures, such as dental care and nutrition, to keep their pets healthy. By streamlining data management, veterinary software empowers professionals to provide optimal care, enhancing the overall animal healthcare industry. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

 Market Challenges

• The veterinary software market is a growing industry that caters to the needs of hospitals and clinics in managing their practice operations. Challenges in this market include practice management, billing and invoicing, resource management, inventory control, treatment procedure management, patient health conditions, profitability, and operational efficacy. Important players offer solutions for hospitals, multilocation veterinary hospitals, and independent clinics, addressing the specific requirements of small and large animal practices. Product insights include appointment booking, patient portals, client experience, software updates, and decision-making tools. Key features include patient data management, billing, inventory control, treatment procedure management, patient health condition tracking, and digital tools for surgery, imaging, and emergency care. The market serves established economies with high companion animal ownership and pet insurance, driving animal health expenditure. Customization options, data centralization capabilities, interoperability, and automatic software upgradation are essential for meeting the diverse needs of veterinarians. Emerging countries present opportunities for standard software solutions, while scalability and delivery model flexibility are crucial for catering to various practice types and patient volumes.
• The veterinary software market in developing countries, particularly in Asia Pacific, faces challenges due to insufficient regulations and infrastructure for pet care. In countries like India, Sri Lanka, China, Indonesia, and the Philippines, the absence of regulatory bodies and proper veterinary clinics hinders market growth. For instance, in Haryana, India, which is a significant livestock rearing state, there is a shortage of veterinary professionals. Governments in these countries prioritize the safety of endangered species, leaving a gap in veterinary care for pets. This situation limits the expansion of the veterinary software market in these regions during the forecast period.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview 

This veterinary software market report extensively covers market segmentation by  

1. Product 
• 1.1 Practice management software
• 1.2 Imaging software
2. Deployment 
• 2.1 On-premise
• 2.2 Cloud-based
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Practice management software-  Veterinary practice management software (PMS) holds the largest market share in 2023 due to increasing consumer demand and affordability. PMS streamlines workflow in veterinary practices, enabling healthcare professionals to document care protocols, manage billing and resources, track inventory, and oversee treatment processes. New software solutions allow direct access to lab results, reducing treatment times and easing pet owner concerns. Integrated software platforms that manage all clinic processes enhance efficiency and minimize medical errors, driving PMS adoption and fueling the growth of the global veterinary software market.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The veterinary software market is a rapidly growing segment of the healthcare information systems industry, catering to the unique needs of hospitals and clinics that provide care for companion animals. These software solutions enable efficient practice management, ensuring adherence to health guidelines through electronic medical records and integrated billing and invoicing systems. Resource management and inventory control are also crucial features, allowing for effective organization and streamlined operations. Companion animal ownership continues to rise, driving demand for quality pet care, and veterinary software plays a vital role in facilitating pet insurance and managing animal health expenditures. Veterinary imaging software and digital imaging systems further enhance the capabilities of these solutions, contributing to the overall growth of the veterinary software market.

Market Research Overview

The veterinary software market is a dynamic and growing industry that caters to the unique needs of veterinary hospitals and clinics. Practice Management Software is a crucial component of this market, enabling efficient business operations through features like billing and invoicing, resource management, inventory control, treatment procedure management, and patient health condition tracking. These systems help improve profitability and operational efficacy by streamlining business processes. Veterinary software is essential for hospitals and clinics of all sizes, from multilocation veterinary hospitals to independent clinics. The market serves established economies as well as emerging countries, adhering to health guidelines and customizing solutions to meet specific requirements. Product developments include veterinary imaging software, digital tools, and patient portals that enhance client experience, appointment booking, and decision-making. Software updates, scalability, and interoperability are essential factors in the market, along with the delivery model, which can be on-premise or cloud-based. The veterinary software market serves small and large animal practices, focusing on quality pet care and specialized treatments. Factors like patient volume, appointments, patient records, inventory, customer satisfaction, and software integration are crucial in the market's growth. Animal health expenditure, companion animal ownership, pet insurance, and veterinarians are significant drivers for the veterinary software market. The market's future looks promising, with continued advancements in digital imaging systems, customization options, data centralization capabilities, and automatic software upgradation.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Practice Management Software
• Imaging Software
• Deployment
• On-premise
• Cloud-based
• Geography
• North America
• Europe
• APAC
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 across 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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio