Veterinary Software Market Size, Share & Trends Analysis Report By Product, By Delivery Mode (Cloud/Web-based, On-premise), By Practice type, By End Use, By Region, And Segment Forecasts, 2024 - 2030

Veterinary Software Market Size, Share & Trends Analysis Report By Product, By Delivery Mode (Cloud/Web-based, On-premise), By Practice type, By End Use, By Region, And Segment Forecasts, 2024 - 2030

Veterinary Software Market Growth & Trends

The global veterinary software market size is anticipated to reach USD 3.02 billion by 2030 and is projected to grow at a CAGR of 12.66%% from 2024 to 2030, according to a new report by Grand View Research, Inc. Veterinarians, veterinary practices, and pet owners can all benefit significantly from veterinary software. The benefits cover a range of areas related to patient care, clinic administration, and communication. Quick access and retrieval of patient records-including lab results, treatment plans, and medical histories-is made possible by digital storage. By doing away with the necessity for paper records, it lessens clutter and the possibility of data loss or damage. Clinics may better regulate patient flow and organize their daily schedules with the assistance of appointment scheduling tools. It minimizes the possibility of establishing multiple reservations or scheduling conflicts. It makes remote consultations possible, enabling vets to treat and counsel patients who are unable to visit the clinic physically. In addition, it broadens the clinic's clientele and offerings, particularly in emergency situations and socially awkward situations.

The market presents plenty of opportunities for expansion and novelty, attributable to industry demands, innovations in technology, and evolving consumer demands. Telemedicine has become increasingly popular in veterinary care, particularly since the COVID-19 pandemic. By providing telemedicine features that enable veterinarians to consult with patients and monitor them from a distance, veterinary software can take advantage of this trend and broaden its scope of practice. Veterinarian diagnostics might undergo a revolution thanks to AI and machine learning. Diagnostic accuracy and treatment outcomes can be enhanced by software solutions that use artificial intelligence (AI) for analyzing images, predictive analytics, and disease detection. Businesses of veterinary software can look into ways to grow internationally. Software that supports multi-language and multi-currency capabilities can meet the needs of clinics worldwide as veterinary care becomes more globally distributed.

Market players in the veterinary software space are strategically using mergers and acquisitions to expand their product lines and solidify their positions in the industry. To incorporate the latest innovations and broaden their service offerings, large corporations are purchasing smaller, innovative companies. Concurrently, there is a widespread use of collaboration and partnership strategies, as businesses form alliances to gain access to complementary expertise, expand their market reach, and provide more complete solutions. These adaptable tactics enable veterinary software suppliers to meet the varied demands of the changing veterinary sector, maintain their competitiveness, and take advantage of synergies. For instance, in February 2024, Instinct Science with the assistance of Mainsail partners acquired VetMedux, which is a veterinary education-providing company.

In May 2023, Hippo Manager partnered with Text Request. Users of Hippo Manager Software have access to Text Request's texting module directly from the Hippo Manager interface by using the Text Requests Chrome extension. This means that veterinary clinics can now use the same software they use to manage their daily operations to text clients to set up appointments, send reminders, and more.

Veterinary Software Market Report Highlights

• Based on product, the practice management software (PMS) segment led the market with the largest revenue share of 56.80% in 2023. However, telehealth software is expected to grow at the fastest CAGR of 19.65% during forecast period, due to the growing acceptance of Internet of Things (IoT) and Artificial Intelligence (AI) technologies
• Based on delivery mode, the cloud/web-based segment attributed to largest market share in 2023 and is projected to grow at fastest CAGR during the forecast period, owing to easy scalability as well as ease of use of cloud-based software
• Based on practice type, the small animals segment led the market with the largest revenue share of 60.37% in 2023. The segment includes software revenue from veterinarian practices that treat small companion animals (dogs and cats) as their primary source of care. Veterinarians and veterinary clinics can more efficiently manage their daily activities and deliver high-quality animal care with the aid of small animal PMS, a specialized tool
• Based on end use, the hospitals/clinics segment led the market with the largest revenue share of 85.80% in 2023, due to the accelerating digitization of veterinary practices and the growing awareness of the advantages that software provides to both patient care and business operations are what is driving the overall growth of the hospitals/clinics segment
• North America dominates the market with the largest revenue share of 35.85% in 2023. Conversely, Asia Pacific region is anticipated to grow at the fastest CAGR of 11.35% during the forecast period
• Multiple integrations of veterinary softwares, an increasing number of veterinary hospitals/clinics, an increasing animal population globally leading to an increase in adoption of telehealth softwares, rising prevalence of animal diseases leading to an increase in veterinary patient volume are expected to drive market growth

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