Worldwide Veterinary Software Industry to 2029: Increasing Companion Animal Ownership and Need for Pet Insurance Drives Growth

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Feb 17, 2023, 19:20 ET

DUBLIN, Feb. 17, 2023 /PRNewswire/ -- The "Veterinary Software Market Analysis by Product, by Delivery Model, by Practice Type, and by Region - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.

The veterinary software market size is estimated to be USD 628 million in 2021 and is expected to witness a CAGR of 11.48% during the forecast period 2022-2029.

The increasing companion animal ownership and need for pet insurance, together with escalating animal health cost are expected to boost the market.

Additionally, rising disposable income, increasing social media influence are the factors contributing to the market growth. However, absence of government incentives for the adoption of veterinary software, the reluctance of veterinarians to adopt new technology, and a lack of understanding about veterinary software are expected to hinder the growth.

Companies Mentioned:

Henry Schein Inc. (US)
IDEXX Laboratories Inc. (US)
Patterson Companies Inc. (US)
Vetter Software Inc. (US)
Animal Intelligence Software Inc. (US)
Timeless Veterinary Systems Inc. (Canada)
Britton's Wise Computer Inc. (US)
ezyVet Limited (New Zealand)
FirmCloud Corporation (US)
OR Technology (Oehm Und Rehbein GmbH) (Germany)
VIA Information Systems (US)
Hippo Manager Software Inc. (US)
Finnish Net Solutions (Finland)
Carestream Health (Canada)
ClienTrax (US)

By Product

Based on product, the market is categorized into veterinary imaging software, veterinary practice management software, and other software. In 2021, the veterinary practice management software segment accounted for the highest revenue share owing to the rising customer demand and those other systems' low cost and the increasing use of information technologies in healthcare services.

By Delivery Model

On the basis of delivery model, the market is bifurcated into web-based/cloud-based model and on premise model. In 2021, the on premise model segment accounted for the highest revenue share due to these services are affordable and widely available, and the adoption of cloud/web-based solutions is made easier to use with suitable IT infrastructure, which boosts productivity and increases revenue for the company.

By Practice Type

Based on practice type, the market is categorized into mixed animal practices, exclusive small animal practices, exclusive equine practices, exclusive bovine practices, predominantly large animal practices, predominantly small animal practices, and exclusive large animal practices. In 2021, the exclusive small animal practices segment accounted for the highest revenue share owing to the growing number of small pet parents and increasing yearly pet care costs in wealthy nations.

Regional Markets

In 2021, North America region accounted for the highest revenue in the veterinary software market and is expected to maintain its dominance during the forecast period. This is attributed to the rising demand for high-quality pet care, increasingly turning to technology solutions like digital imaging systems and veterinary practise management software to improve diagnosis, growing knowledge of veterinary software, and simple availability of veterinary software and services in this region.

For more information about this report visit https://www.researchandmarkets.com/r/d35k7s

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