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(Medical-NewsWire.com, September 28, 2021 ) According to a market research report, The report "Veterinary Software Market by Product (Practice Management, Imaging, BI, Marketing), Delivery Model (On Premise, Cloud), Practice (Small Animal, Mixed, Large, Equine, Bovine), End User (Hospitals, Clinics, ASC, Emergency) - Global Forecasts To 2022", is projected to reach USD 594 million by 2022 from USD 442 million in 2017, at a CAGR of 6.1%. The growth of this market is majorly driven by factors such as the rising companion animal ownership, growing animal healthcare expenditure, growing product innovation and software integration, and the consolidation of the veterinary healthcare industry.
Veterinary practice management software segment dominated the market in 2017
Based on product, the veterinary software market is segmented into veterinary practice management software, veterinary imaging software, and other software. The veterinary practice management software segment accounted for the largest share of the market in 2017. The demand for this software is higher among veterinarians as it helps reduce the possibilities of errors and improve the cost-efficiency of operations.
Exclusive small animal practices segment dominated the veterinary software market, by practice type, in 2017
Based on practice type, the veterinary software market is segmented into exclusive small animal practices, mixed animal practices, and exclusive large animal practices. The exclusive small animal practices segment dominated the market in 2017 and is estimated to grow at the highest CAGR during the forecast period. This can primarily be attributed to the increasing companion animal population and the rising annual spending on pet care in developed countries.
Veterinary practice management software helps veterinarians in appointment management, billing & invoicing, boarding management, maintaining patient records, prescription labeling, and treatment management. This software reduces the possibilities of error and the overall cost of a veterinary healthcare facility. Such factors are likely to drive the market for veterinary practice management software.
The global veterinary software market is segmented into two broad categories—on-premise model, and web-based/cloud-based model. The on-premise model segment is estimated to account for the largest share of the global veterinary software market in 2017. The large share of this segment can be attributed to the advantages of the on-premise delivery model, such as the low risk of data breach, flexible connection bandwidth, and the availability of easy customization options.
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Veterinary hospitals & referral practices were the largest end users of veterinary software in 2017. This end-user segment is also estimated to grow at the highest CAGR during the forecast period majorly due to the extensive usage of veterinary software for the preparation, management, and analysis of patient databases for daily/weekly/annual animal hospital visits, monitoring veterinarians, and for easy and quick data accessing and sharing.
The high demand for veterinary software in North America can primarily be attributed to the growing demand for quality pet care in the region. Also, the growing awareness about veterinary software and the easy availability of veterinary software & services are the major factors that are expected to drive market growth in North America during the forecast period.
The exclusive small animal practices segment is expected to register the highest CAGR during the forecast period. The high growth in this segment can be attributed to the increasing number of small pet owners and rising annual spending on pet care in developed countries.
The veterinary software market is a fragmented market, with several large as well as emerging players operating in it. The prominent players in the veterinary software market include Henry Schein (US), IDEXX Laboratories (US), Patterson Companies (US), Vetter Software (US), Animal Intelligence Software (US), Timeless Veterinary Systems (Canada), Brittons Wise Computers (US), ezyVet Limited (New Zealand), FirmCloud Corporation (US), MedaNext (US), OR Technology (Oehm Und Rehbein GmbH, Germany), VIA Information Systems (US), Hippo Manager Software (US), Finnish Net Solutions (Finland), Carestream (Canada), and ClienTrax (US). These players are adopting various organic and inorganic growth strategies, such as product launch & product upgradation, agreements, partnerships, and collaborations to strengthen their product portfolios and expand their presence in the market.
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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