Market Research Future published a research report on “Veterinary Software Market Research Report – Forecast To 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Market Scenario
Market Research Future (MRFR) hypothesizes that the global veterinary software market is estimated to demonstrate 8.9 % CAGR during the forecast period (2018-2023) owing to the accelerating incidences of zoonotic diseases. The veterinary software market is referred to as a sector consisting of two sectors; imaging software and practice management. While the practice management software assists the veterinarians to organize and manage appointments, the imaging software helps to capture the images of domestic companions like cats, dogs, and other farm animals.
Market Potential and Pitfalls
The global Veterinary Software Market is likely to expand at a rapid pace throughout the appraisal period due to the increasing prevalence of zoonotic diseases globally. The augmenting adoption of an integrated software system for diagnostics and treatment is predicted to propel the market growth. Factors such as mounting demand for pet insurance, augmenting companion animal ownership, rising animal health expenditure, and increasing product innovation are further gearing up the market growth. On a brighter note, the emergence of cloud-based practice management systems coupled with the adoption of cost-efficient software solutions has stimulated the market growth over the years. Additional factors promoting the market growth are the increasing digit of veterinary practitioners, the emergence of care centers, growing digit of pet owners, and the growing product advances and incorporation of add-on tools in order to improve practice results.
On the flip side, lack of awareness related to veterinary software coupled with the lack of government support in order to adopt latest technologies especially in the developing economies is considered some of the major concerns impeding the market growth throughout the appraisal period. Moreover, the reluctance to embrace cutting edge and new systems is likely to restrain the market growth.
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Industry Updates
January 18, 2019: A San Diego-based pet care communication company, PetDesk has recently announced that they have raised around $12 million from a Silicon Valley-based firm PeakSpan Capital. They have decided to use this Series B funding in order to expand from the veterinary industry into a pet grooming industry so that they can drive better health outcomes for companion animals in the North American region.
Key Players
Some of the key players in the global veterinary software market are Henry Schein, Inc (US), IDEXX Laboratories (US), Patterson Veterinary Supply, Inc (US), Vetter Software (US), Animal Intelligence Software (US), Timeless Veterinary Systems (Canada), Britton’s Wise Computers Inc (US), ezyVet Limited (New Zealand), FirmCloud Corporation (US), MedaNext (US), OR Technology (Oehm Und Rehbein GmbH) (Germany), VIA Information Systems (US), Hippo Manager Software, Inc. (US), Finnish Net Solutions (Finland), Carestream (Canada), ClienTrax (US), Onward Systems, Inc (US), Provet Cloud – Finnish Net Solutions Ltd (US), VetBlue (US), VETPORT (US), and others.
Segmentation:
MRFR, in their report on the global veterinary software market, analyzed both valuation and production, along with possible CAGR gain during the forecast period of segments such as type, conduct, delivery model, practice type, and end-user, for a better analysis. This would help in deciphering the upcoming years of the market.
- Based on the types, the veterinary software market includes integrated software and standalone software.
- On the basis of the product, the veterinary software market comprises veterinary practice management software, veterinary imaging software, and other software.
- Based on the delivery mode, the veterinary software market includes on-premise model, web-based/cloud-based model. The cloud-based model is expected to put forward a substantial claim owing to which the market can rise.
- On the basis of the practice type, the veterinary software market consists exclusive small animal practices, mixed animal practices, and exclusive large animal practices. The mixed animal practices segment includes predominantly large animal practices and predominantly small animal practices. The exclusive large animal practices segment encompasses exclusive equine practices and exclusive bovine practices.
- On the basis of the end-user, the veterinary software market includes clinics & ambulatory practices, veterinary hospitals & referral practices, and specialty & emergency hospitals. The veterinary hospitals & referral practices segment is doing substantial business owing to which the market can expect substantial rise in the revenue generation.
Regional Analysis:
The global veterinary software market, as discussed in the report by MRFR, includes four major regions, namely, – North America, Europe, Asia Pacific (APAC), and the Rest-of-the world (RoW). Technical supremacy has kept the North American market ahead of its peers. But other features such as easy integration of technical support and digitalization can play integral roles in taking the regional market forward. Government initiatives are providing ample support to the market to build up their infrastructures further and help in the expansion of the market.
The APAC market is all set to topple others in terms of CAGR during the forecast period. The regional growth is relying much on pet ownership and the inclusion of veterinary software, along with undiagnosed pet pools that can significantly boost the market forward.
The European is also going to showcase substantial growth. Its superlative technical structure is bound to back the regional market prospect substantially.
The MEA region’s growth would get hindered mostly due to the presence of several poor economies. Its market contribution would be far less than others.
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Intended Audience
- Veterinary software solution providers
- Government and Independent Regulatory Authorities
- Veterinary Research laboratories
- Research and Development (R&D) Companies
- Market Research and Consulting Service Providers
- Potential Investors
- Veterinary Educational Institutes
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