The veterinary software market provides practice and client software to facilitate improved patient care, appointments, medical records, client communication, and overall practice management. By automating key tasks associated with running a veterinary practice, veterinary software helps to streamline workflows and enhance productivity. Veterinary software solutions enable paperless record keeping, online appointment scheduling, integrated accounting software, and remote monitoring of patients.
The Global Veterinary Software Market is estimated to be valued at US$ 1.24 Bn in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the veterinary software market are Idexx Laboratories, Covetrus Inc., Shepherd Veterinary Software, DaySmart Software, ProVet, Asteris, Carestream Health, Heska Corporation, VetStoria, Planmeca OY, Instinct Science LLC, OnwardVet, VETport, ezyVet, and PetDesk. Veterinary practice management software (PMS) market is estimated to grow rapidly owing to increased adoption by veterinary hospitals and clinics to manage appointments, medical records, inventory, and finances more efficiently. Technological advancements including cloud-based software, integrated electronic health records, telehealth capabilities, and predictive analytics are augmenting the growth of veterinary software market.
Market Trends
Veterinary Software Market Growth preference for cloud-based veterinary software solutions:- Cloud-based veterinary software offers advantages such as remote access, automatic updates, data backup, and reduced IT maintenance costs. The demand for cloud-based software is growing mainly due to the mobility and flexibility offered to veterinary practitioners.
Increasing adoption of integrated veterinary software:- Integrated software solutions combine practice management software, electronic health records, client communication tools, lab diagnostic systems, and other functions into a single platform. This streamlines workflows, enhances decision making and leads to improved patient care. Leading players are focusing on developing integrated veterinary software suites.
Market Opportunities
Artificial intelligence and machine learning capabilities:- AI and ML tools can help automate routine tasks, recommend treatments based on medical records, facilitate predictive diagnostics, and offer personalized pet care solutions. Key players are focused on integrating these advanced technologies into their veterinary software.
Adoption in emerging markets:- Countries in Asia Pacific and Latin America offer high growth opportunities for veterinary software providers due to rising pet ownership, growing demand for advanced pet care and developing veterinary infrastructure. Penetration of such software remains comparatively lower in emerging nations.
Impact of COVID-19 on Veterinary Software Market Growth
The Veterinary Software Market News in COVID-19 pandemic severely impacted the growth of the veterinary software market globally. During the initial phases of the pandemic when lockdowns were imposed, many veterinary clinics had to temporarily shut down their operations or limit appointments only for emergency cases. This led to a steep decline in routine check-ups, vaccinations, and non-essential surgeries being conducted. As a result, the demand and adoption of digital veterinary solutions also witnessed a downfall. However, as lockdowns eased in several parts of the world, veterinary practices steadily resumed their regular operations while following strict safety protocols. Telehealth consultations emerged as a viable solution to bridge the gap and continued serving clients remotely via video calls and digital prescription refills. Moving forward, the veterinary software market is expected to rebound strongly as digital transformation of the industry gathers pace. Post-pandemic, veterinarians are looking to enhance operational efficiency, reduce costs and risk of infections through increased deployment of cloud-based software, electronic medical records, appointment scheduling, payment processing and other remote patient monitoring capabilities. Telemedicine is likely to remain an integral part of veterinary practices even in the non-COVID era to offer enhanced convenience and care to pet owners.
Geographical Regions with Highest Market Concentration
North America dominates the global veterinary software market in terms of value, accounting for over 40% share. The region has witnessed rapid and widespread digital adoption within the veterinary sector driven by the presence of advanced healthcare infrastructure, high pet care expenditure, and technology-savvy veterinarians and users. The US stands as the single largest market globally due to high pet ownership rates, growing companion animal population and ongoing tech-driven innovations. Western Europe is the second largest region riding on factors such as increased per capital spending on pet healthcare, burgeoning telemedicine trend and initiatives by veterinary organizations to push e-health adoption.
Fastest Growing Regional Market
The Asia Pacific region is poised to grow at the fastest pace during the forecast period backed by rising awareness about animal health, burgeoning pet care industry and progressive digitization of veterinary practices across major emerging countries like India and China. Rapid urbanization, higher disposable income, and government investments in ICT infrastructure is fueling the regional veterinary software market growth. Additionally, low market penetration currently presents immense untapped opportunities with respect to telehealth veterinary services, software solutions and customized offerings. Multinational providers are actively partnering with local players to strengthen their presence while catering to the diverse needs of Asia's veterinary community.
Get more insights on, Veterinary Software Market
About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)