Veterinary Software Market Size, Share, Opportunities, And Trends By Product (Practice Management Software, Imaging Software), By Delivery Mode (On-premise, Cloud/Web-Based), By Practice Type (Small Animals, Mixed Animals, Equine, Food-producing Animals, Others), By End-Use (Hospitals/Clinics, Reference Laboratories), And By Geography - Forecasts From 2023 To 2028

The veterinary software market is expected to grow at a CAGR of 7.57% from US$321.172 million in 2021 to US$535.192 million in 2028.

Veterinarians use veterinary software to complete back-office tasks like bookkeeping and streamline daily operations. It helps with patient data management, treatment planning and scheduling, and enhancing client interactions and communication. Additionally, it helps to streamline the procedure, boost the effectiveness of the veterinary team, gather data, provide reports, and adhere to sustainable practices by using less paper. At the moment, veterinary hospitals use cutting-edge practice management software, while smaller clinics use scaled-down versions.

Growth drivers for the veterinary software market

Increasing knowledge of the advantages of veterinary software solutions has led to a rise in the number of clinical visits by pet owners which is fueling the veterinary software market. Additionally, the growing utilization of Practice Management Systems (PMS) by veterinarians is another significant growth factor for the veterinary software industry. The growing concern about pet health as people keep pets as their companion influence the animal health business. 

Rising awareness of disease prevention and pet insurance 

Growing market trends include increased consumer knowledge of pet insurance and illness prevention. Pet owners are increasingly becoming more aware with concerns relating to the health, appearance, and well-being of their dogs. Pet owners' worries are what fuel the need for veterinarian appointments and animal health tests. Preventive animal healthcare includes routine examinations of animals to determine vaccination schedules, nutrition, dental treatment, and other risk factor assessments. Veterinary software assists in the preservation of data connected to routine exams and essential evaluations to deliver all sorts of animal-focused services, allowing veterinary professionals to focus on their work.

Practice Management Software to show significant market growth potential

The practice management software industry is expected to have biggest revenue share because of rising customer demand and the low cost of these systems. These systems assist healthcare professionals in managing treatment protocols overall as well as supporting and documenting various standards of care protocols, healthcare recommendations, and patient health tracking through billing and resource management. By providing effective options for managing workflow in veterinary hospitals, PMS aids in the delivery of improved animal health care which is further upsurging the veterinary software market growth.

Rising adoption of information systems 

The way patients are cared for has significantly changed with the growing use of information systems in the health industry. The reduced treatment time due to immediate test results obtained in hospitals and clinics is of great help to pet owners. The treatment accuracy and effectiveness is increased and the risk of any medical mistakes is reduced. Some of the technologically advanced systems provide a single platform for all the procedures and help with the veterinary software market growth.

Increased adoption of veterinary software

The veterinary software industry is also being favorably impacted by the rising number of veterinarians and the rising usage of veterinary software by veterinarians. For instance, according to the American Veterinary Medical Association, over 22,000 veterinarians were working in private practice in the United Kingdom and around 68,000 in North America as of 2021. Over the predicted term, it is expected that this number would rise even higher fueling the veterinary software market. This advancement is anticipated to increase the need for these solutions to manage operations in clinics and reference laboratories.

Deployment of cloud-based solutions

Acceptance of cloud-based solutions is anticipated to be accelerated by the development of veterinary control management systems. Some of these systems can map illness prevalence, treatment effectiveness, and immunization rates. Thus, it is anticipated that the widespread use of this software in animal health care for food production would accelerate the veterinary software market growth. For instance, the National Digital Livestock Mission (NDLM) was introduced by the Indian government in March 2022. The mission's objective was to create a farmer-centric system where farmers could quickly access services and information through an intentionally created national digital architecture using the available applications and information infrastructure.

Advancement in technology is fueling the veterinary software market

Advancements related to the integration of lab and diagnostic equipment are fueling the veterinary software market. Additionally, the direct integration of information, test results, and images into a patient's medical record enables remote exchange with other people, such as those taking part in consultations, training sessions, and dual treatments. The veterinary software industry is anticipated to exhibit notable features during the forecast period due to the need to provide the finest care for animals, 

The North American veterinary software market is anticipated to grow significantly.

The North American veterinary software market is anticipated to grow due to well-established companies in the region and sophisticated healthcare IT infrastructure. There is high growth potential with the adoption of PMS which can serve as profitable for industry investors. the Asia Pacific market is predicted to have a lucrative veterinary software market growth during the forecast period, due to the rising demand for veterinary practice management, which is brought on by the region's expanding livestock population, rising demand for food products derived from animals, and rising pet adoption rates, 

Market Key Developments

• In January 2023, Cindy Barnes, DVM, CVSMT, the owner and founder of Shepherd Veterinary Software, announced the launch of an Emotional Medical Record workflow designed specifically for Fear Free Certified® practices.
• In October 2022, the client education tool ClientEd, developed to save veterinary practices time and boost pet owner compliance, has been fully integrated into Shepherd's veterinary practice management software, according to LifeLearn Animal Health, a provider of online software solutions for practices.
• In May 2022, Ascend, a cloud-based practice management system (PMS) was developed by Covetrus, a pioneer in animal health technology and services, to support veterinary practices in the UK, EMEA, and Asia Pacific.

Segmentation:

• By Product
  • Practice Management Software
  • Imaging Software
• By Delivery Mode
  • On-premise
  • Cloud/Web-Based
• By Practice Type
  • Small Animals
  • Mixed Animals
  • Equine
  • Food-producing Animals
  • Others
• By End-Use
  • Hospitals/Clinics
  • Reference Laboratories
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others

1.  INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY

2.1. Research Data

2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. VETERINARY SOFTWARE MARKET, BY PRODUCT

5.1. Introduction

5.2. Practice Management Software

5.3. Imaging Software

6. VETERINARY SOFTWARE MARKET, BY DELIVERY MODE

6.1. Introduction

6.2. On-premise

6.3. Cloud/Web-Based

7. VETERINARY SOFTWARE MARKET, BY PRACTICE TYPE

7.1. Introduction

7.2. Small Animals

7.3. Mixed Animals

7.4. Equine

7.5. Food-producing Animals

7.6. Others

8. VETERINARY SOFTWARE MARKET, BY END-USE

8.1. Introduction

8.2. Hospitals/Clinics

8.3. Reference Laboratories

9. VETERINARY SOFTWARE MARKET, BY GEOGRAPHY

9.1. Introduction

9.2. North America

9.2.1. United States

9.2.2. Canada

9.2.3. Mexico

9.3. South America

9.3.1. Brazil

9.3.2. Argentina

9.3.3. Others

9.4. Europe

9.4.1. United Kingdom

9.4.2. Germany

9.4.3. France

9.4.4. Spain

9.4.5. Others

9.5. The Middle East and Africa

9.5.1. Saudi Arabia

9.5.2. UAE

9.5.3. Israel

9.5.4. Others

9.6. Asia Pacific

9.6.1. Japan

9.6.2. China

9.6.3. India

9.6.4. South Korea

9.6.5. Indonesia

9.6.6. Thailand

9.6.7. Others

10. COMPETITIVE ENVIRONMENT AND ANALYSIS

10.1. Major Players and Strategy Analysis

10.2. Emerging Players and Market Lucrativeness

10.3. Mergers, Acquisitions, Agreements, and Collaborations

10.4. Vendor Competitiveness Matrix

11. COMPANY PROFILES

11.1. IDEXX Laboratories, Inc.

11.2. Hippo Manager Software, Inc.

11.3. VetZ Limited

11.4. Esaote SpA

11.5. Henry Schein, Inc.

11.6. Patterson Companies, Inc.

11.7. ClienTrax

11.8. VIA Information Systems

11.9. Onward Systems, Inc.

11.10. DaySmart Software

IDEXX Laboratories, Inc.

Hippo Manager Software, Inc.

VetZ Limited

Esaote SpA

Henry Schein, Inc.

Patterson Companies, Inc.

ClienTrax

VIA Information Systems

Onward Systems, Inc.

DaySmart Software