The global Veterinary Software market size is expected to be worth around US$ 796.0 million by 2030, according to a new report by Vision Research Reports.
The global Veterinary Software market size was valued at US$ 422.8 million in 2020 and is anticipated to grow at a CAGR of 18.9 % during forecast period 2021 to 2030.
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.
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.
PMS accounted for the largest market share as of 2016 due to growing demand from consumers and cost-effective nature of these systems. These systems help practitioners to support and record different standards of care protocols, healthcare recommendations, keep track of the patient's health with invoicing & billing, resource management, inventory tracking, and overall management of treatment procedures. Such benefits of PMS are anticipated to propel the segment growth over the forecast period. PMS helps deliver better animal health care by offering efficient solutions for workflow management in veterinary care facilities. Growing adoption of information systems in healthcare practices has significantly changed the way of care delivery to patients over the past decades. This is anticipated to boost the adoption of PMS.
In addition, this segment is primarily driven by the growing animal health expenditure across the globe, rising pet population, increase in number of veterinary practitioners, and high demand for animal-derived food products, coupled with the availability of pet insurance. Introduction of innovative solutions that offer accurate and rapid results is also expected to fuel the adoption of PMS over the following years.
On-demand solutions dominated the overall industry as of 2016, owing to their low cost and widespread availability of these services. However, the cost of these platforms is higher as it includes cost of the overall system and hardware & software package. This is expected to act as a restraining factor for the growth of on-demand services.
The cloud/web-based solutions segment is anticipated to grow with lucrative CAGR owing to its associated benefits. Users get remote access to health information and these solutions help in reducing threat of information misuse. Moreover, ease of access with proper IT infrastructure used in the deployment of these services helps in increasing productivity and generating more profits for the organization. High cost associated with its deployment is expected to limit its adoption by emerging players.
However, deployment of cloud-based solutions is expected to change the dynamics. These services offer a single platform through which patients, researchers, and practitioners access medical information. These platforms minimize the risk of data theft by offering a secure platform for sharing information and enable veterinarians to keep track of information. This is further expected to boost the adoption of cloud/web-based services over the following years.
The food-producing animals segment held the dominant share as of 2016, due to higher demand for cost-effective products to maintain livestock health. Increasing demand for such products from vet medicine manufacturers to control the process of manufacturing, maintain information related to product storage & quality, and monitor activities such as pharmacovigilance are contributing toward the dominance of this segment.
According to Food and Agriculture Organization, in the emerging economies, food animal products account for one-third of human protein consumption. This leads to an increase in the demand for improving livestock productivity, which is critical to meet the dietary needs of the growing human population. These factors cumulatively are responsible for the significant share held by food-producing animals.
In addition, introduction of veterinary control management systems that help in identification & registration of livestock and maintenance of records of farms including owner details is expected to propel the adoption of these solutions over the coming years. Some of these systems are also capable of mapping prevalence of diseases, treatment rates, and vaccinations. Thus, wide applications of this software in food-producing animal health care is predicted to fuel the growth.
The equine segment is expected to grow lucratively owing to increase in companion animal ownership, awareness, and demand for efficient pet care. Increase in pet ownership is a consequence of associated health benefits for humans. This is expected to contribute toward the growth of other sub-segments over the forecast period. These health benefits include blood pressure maintenance, psychological stability, reduced frequency of cardiac arrhythmias & anxiety attacks, which helps improve the overall well-being of humans.
Hospitals/clinics are the largest end-users of veterinary software solutions. Adoption of these services is driven by technological advancements in pet care and this is anticipated to serve as a growth opportunity. These advancements include the advent of efficient information management systems and pet owner mobile technology.
High focus on innovation in animal health has given rise to certain measures that are being implemented or in the process of implementation, which are fueling the market growth prospects. The reference laboratories segment is expected to witness lucrative growth in the following years. These labs are developing various technologies for the detection and monitoring of various diseases.
Government animal welfare authorities and policymakers are encouraging farmers through targeted incentives about adoption of veterinary care practices for food-producing species. This thereby increases the demand for animal health care facilities. Government organizations are increasingly involved in issuing guidelines for the promotion of reference laboratories globally, which is expected to contribute to market growth.
The North American regional market for veterinary software held the largest revenue share as of 2016 and is expected to maintain its position throughout the forecast period. Presence of well-established companies, advanced healthcare IT infrastructure, and high spending capacity of pet owners are responsible for the largest revenue share of this segment.
There are substantial opportunities for the implementation of PMS in this region, which offers lucrative opportunities for investors in this industry. The increasing volume of pet health organizations such as the World Small Animal Veterinary Association coupled with rising pet care expenditure by individuals & governments is further expected to boost the growth in this region.
The Asia Pacific regional market is anticipated to witness lucrative CAGR during the forecast period due to growing demand for veterinary practice management, which is a result of a continuously growing livestock population, increasing demand for animal-derived food products, and rising pet adoption in this region.
Presence of unmet clinical needs and growing awareness levels amongst patients & practitioners are expected to fuel the market growth in the coming years. In addition, the alarming need to curb healthcare issues due to high incidence of zoonotic diseases and the requirement to manage disease outbreaks are anticipated to propel the market growth.
IDEXX Laboratories, Inc.; Patterson Companies, Inc.; and Henry Schein, Inc. The other market players are Hippo Manager Software, Inc.; VetZ Limited; Esaote SpA; ClienTrax; Onward Systems, Inc.; and VIA Information Systems.
Practice Management Software
Delivery Mode Outlook
Practice Type Outlook
The Middle East and Africa
The Veterinary Software market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Veterinary Software market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Veterinary Software market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Veterinary Software market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Veterinary Software market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Veterinary Software capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Veterinary Software by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Veterinary Software market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Veterinary Software market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Veterinary Software market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Veterinary Software industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Veterinary Software market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Veterinary Software market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Veterinary Software market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Veterinary Software market. These factors have benefited the growth of the global market for Veterinary Software. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Veterinary Software. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Veterinary Software are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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