Global Veterinary Software Market 2023-2030

Global Veterinary Software Market 2023-2030

Global Veterinary Software Market Size, Share & Trends Analysis Report by Product (Practice Management Software and Imaging Software), by Delivery Mode (On-premise and Cloud-Based), by Animal Type (Companion Animals and Farm Animals), and by End-User (Veterinary Hospitals and Clinics and Veterinary Reference Laboratories) Forecast Period (2023-2030)

The global veterinary software market is anticipated to grow at a CAGR of 7.8 % during the forecast period. The Veterinary Software market has witnessed significant growth due to increase in companion animal ownership and concerns over pet health, surge in spending on animal health, and increase in need for streamlining daily tasks in veterinary hospitals. Additionally, growing awareness regarding the benefits of the use of software solutions, and focus on the efficiency and safety of livestock production is also another growth propeller. Beyond practice management optimization, veterinary software caters to the needs of veterinary professionals. Offering interfaces to animal hospitals and clinics, keeping an up-to-date drug database for veterinary pharmacies to access, streamlining and assuring industry compliance, and providing tools to promote client engagement are all veterinary software functionalities.

Segmental Outlook

The global veterinary software market is segmented based on the product, delivery mode, animal type, and end-user. Based on the product, the market is sub-segmented into practice management software and imaging software. Based on, delivery mode, the market is sub-segmented into on-premise and cloud-based. Based on animal type, the market is bifurcated into companion animals and farm animals. Based on end-user, the market is divided into veterinary hospitals and clinics and veterinary reference laboratories. Among the end-users, the veterinary hospitals and clinics sub-segment is anticipated to hold a considerable share of the market, as clinics or hospitals are primary users of veterinary software. Additionally, presence of large number of veterinary hospitals or clinics as compared to laboratories is driving the growth of this segment.

Companion Animals Sub-Segment Is Anticipated to Hold a Prominent Share in the Global Veterinary Software Market

Among the animal type, companion animals is anticipated to hold a prominent share of the market. More than half of the global population is estimated to have a pet at home. The COVID-19 disrupted people's usual routines, resulting in social isolation and lockdowns around the globe. As a result, many people were lonely, which had a severe impact on their mental health. Thus, many people adopted companion animals during the lockdown. For instance, according to the PDSA PAW report published in June 2021, 2.0 million people in the UK owned pets between March 2020 and May 2021. The COVID-19 disrupted people's usual routines, resulting in social isolation and lockdowns around the world. As a result, many people were lonely, which had a severe impact on their mental health. Thus, many people adopted companion animals during the lockdown. For instance, according to the PDSA PAW report published in June 2021, 2.0 million people in the UK owned pets between March 2020 and May 2021 and families in the US, EU and China alone have over half a billion dogs and cats.

Regional Outlook

The global veterinary software market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, the Asia-Pacific regional market is expected to grow considerably over the forecast period. The region is one of the largest livestock markets globally. Thus, it requires professional support to maintain high-quality animal food protein. To provide high-quality animal products, good livestock maintenance is required, which is facilitated by the clinics by using veterinary software.

North America is Expected to Hold a Prominent Share in the Global Veterinary Software

North America is expected to dominate the veterinary software market over the forecast period. The major factors supporting such dominance includes the rising adoption of companion animals along with the increasing per capita animal healthcare expenditure. According to the 2020–2021 National Pet Owners Survey conducted by the American Pet Products Association (APPA), around 67.0% of the US households, or 85.0 million families, owns a pet. Similarly, according to American Veterinary Medical Association (AVMA), the nation spent over $ 29.3 billion on veterinary services and care in March 2020. Therefore, the market is anticipated to have considerable expansion over the projected period in the

Furthermore, product launches owing to the high concentration of market players or manufacturers' presence is pushing adoption of strategic initiatives such as acquisitions and partnerships, accelerating the market growth. For instance, in October 2022 LifeLearn Animal Health, a provider of online software solutions for veterinary practice launched ClientEd. It is a client education resource created to save veterinary practices time and increase pet owner compliance. ClientEd has been successfully integrated into Shepherd’s veterinary practice management software.

Market Players Outlook

The major companies serving the global veterinary software market include Covetrus, Inc, Animal Intelligence Software, Patterson Companies, Inc., Antech Diagnostics, Inc., ClienTrax, DaySmart Software, Digitail Inc., and ESAOTE SPA, among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in August 2023, Hippo Manager Software, announced its strategic partnership with Aspiritech. With a focus on its development and testing strategies, Hippo Manager implemented agile methodologies and Aspiritech's quality assurance processes into its cycle. This streamlined approach will support Hippo Manager to confidently roll out new features, improving customer satisfaction and retention.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global veterinary software market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.