According to a report ,” Veterinary Software Market Analysis By Product (Practice Management Software, Imaging Software), By Delivery Mode, By Practice Type, By End Use, And Segment Forecasts, 2018 – 2025″ published by Grand View Research, Inc., The global veterinary software market is expected to reach USD 696.0 million by 2025, growing at a CAGR of 8.9%. Increase in prevalence of zoonotic diseases is a key market driver for the growth of this market. Rising prevalence has triggered the demand for animal health diagnostics & monitoring services, which is expected to drive the market growth over the forecast period.
Key Takeaways from the report:
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Practice management systems held the dominant share due to benefits with its usage including medical record maintaining, billing, appointment scheduling, and follow up of patients
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The imaging software segment is anticipated to witness lucrative CAGR over the following years due to increase in investments from veterinary product manufacturers coupled with introduction of advanced solutions
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Food-producing animals accounted for largest revenue share in 2016 owing to increasing demand from consumers
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The rise in production of animal-based food products is expected to lead to significant price reduction and help meet the increasing demand for these food products, globally. In addition, animal welfare organizations are consistently striving to achieve high food security
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Reference laboratories are expected to grow with the fastest CAGR during the forecast period owing to growing demand from veterinary practitioners
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The North America veterinary software market held the dominant share as of 2016, owing to increasing number of pet owners in this region
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Asia Pacific regional market is anticipated to show lucrative CAGR due to increase in number of mergers & acquisitions by established players in this region
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IDEXX Laboratories; Patterson Companies, Inc.; and Henry Schein, Inc. held the dominant revenue share of the industry owing to their wide regional presence and technologically advanced product offerings
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Competitive strategies such as new product developments, regional expansion, and merger & acquisitions are expected to propel growth
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For instance, in February 2016, the company completed the acquisition of RxWorks with an intention to set up veterinary practice management software business, primarily in the UK, Australia, New Zealand, Netherlands, and other countries
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Care Management Solutions Market: Increase in adoption of technologically advanced solutions to reduce cost, paperwork, and duplication of testing, as well as improve safety and health are key factors fueling market growth.
The growing adoption of integrated software systems for diagnostics & treatment is anticipated to fuel the growth over the following years. Pet health information systems that enable real-time analysis of prevalence of diseases will help researchers develop therapeutics. The incorporation of these solutions in laboratories is another growth propeller for veterinary reference laboratories.
Moreover, zoonotic diseases pose a major public health burden, especially in tropical regions due to lack of funds and healthcare infrastructure. Increase in willingness to pay for animal healthcare is expected to fuel the adoption of animal health diagnostics and imaging software over the forecast period.
Grand View Research has segmented veterinary software market on the basis of the product, delivery mode, practice type, end use, and region:
Veterinary Software Product Outlook (Revenue, USD Million, 2014 – 2025)
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Practice Management Software
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Imaging Software
Veterinary Software Delivery Mode Outlook (Revenue, USD Million, 2014 – 2025)
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On Premise
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Cloud/Web-Based
Veterinary Software Practice Type Outlook (Revenue, USD Million, 2014 – 2025)
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Small Animals
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Mixed Animals
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Equine
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Food Producing Animals
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Others
Veterinary Software End-use Outlook (Revenue, USD Million, 2014 – 2025)
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Hospitals/Clinics
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Reference Laboratories
Veterinary Software Regional Outlook (Revenue, USD Million, 2014 – 2025)
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North America
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U.S.
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Canada
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Europe
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U.K.
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Germany
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Asia Pacific
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Japan
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China
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India
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Latin America
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Mexico
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Brazil
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MEA
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South Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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