The veterinary software market to grow from USD 442 million in 2017 to USD 594 million by 2022, at a CAGR of 6.1% during the forecast period
The major factors that are expected to be driving the veterinary software market are rising companion animal ownership and demand for pet insurance with growing animal health expenditure. However, lack of government incentives for the adoption of veterinary software, reluctance of veterinarians towards adopting new technologies, and lack of awareness about veterinary software in the developing countries are restricting the growth of Veterinary Software Industry.
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By delivery model, the on-premise delivery model segment is expected to dominate the veterinary software market.
On the basis of delivery model, the global veterinary software market is segmented into two broad categories—on-premise model, and web-based/cloud-based model. The on-premise model segment is estimated to account for the largest share of the global veterinary software market in 2017. The large share of this segment can be attributed to the advantages of the on-premise delivery model, such as the low risk of data breach, flexible connection bandwidth, and the availability of easy customization options.
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By practice type, the exclusive small animal practices segment is expected to register the highest CAGR during the forecast period.
On the basis of practice type, the veterinary software market is segmented into exclusive small animal practices, mixed animal practice, and exclusive large animal practices. The exclusive small animal practices segment is expected to register the highest CAGR during the forecast period. The high growth in this segment can be attributed to the increasing number of small pet owners and rising annual spending on pet care in developed countries.
The North America Veterinary Software Industry is expected to grow at the highest CAGR during the forecast period
North America is expected to witness the highest growth from 2017 to 2022, owing to the growing demand for quality pet care. This, in turn, is encouraging veterinarian practices to adopt technology solutions such as digital imaging systems and veterinary practice management software for better diagnosis. Other growth factors include growing awareness about veterinary software and the easy availability of veterinary software and services in this region.
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Key Market Players:
Henry Schein (US), IDEXX Laboratories (US), Patterson Companies (US), Vetter Software (US), Animal Intelligence Software (US), Timeless Veterinary Systems (Canada), Brittons Wise Computers (US), ezyVet Limited (New Zealand), FirmCloud Corporation (US), MedaNext (US), OR Technology (Oehm Und Rehbein GmbH, Germany), VIA Information Systems (US), Hippo Manager Software (US), Finnish Net Solutions (Finland), Carestream (Canada), and ClienTrax (US)