USD 436.26 Million
Report ID:
SQMIG35G2127 |
Region:
Global |
Published Date: July, 2024
Pages:
157
|Tables:
115
|Figures:
77
Veterinary Practice Software Market size was valued at USD 436.26 Million in 2023 and is poised to grow from USD 482.94 Million in 2024 to USD 1089.11 Million by 2032, growing at a CAGR of 10.7% during the forecast period (2025-2032).
Growing awareness regarding the benefits of the use of software in veterinary practice has increased demand for veterinary practice software. The market is impacted by an increase in companion pet ownership and concerns over pet health and focus on the efficiency and safety of livestock production are the factors for growth propeller. The management of a veterinarian’s office required maintaining schedules and records for that they used efficient software for veterinary practice.
Veterinary practice management software used for treatment planning, managing patient information, scheduling, communicating with patients, and supporting back-office functions, such as accounting and payments and is used by veterinary hospitals, referral practices, and ambulatory veterinary clinics for running their daily operations in an efficient way. The increasing ownership of dogs and cats has increased demand for veterinary practice management.
US Veterinary Practice Software Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 436.26 Million
Largest Segment
Practice Management Software
Fastest Growth
Practice Management Software
Growth Rate
10.7% CAGR
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Veterinary practice software market is segmented based on the product, delivery mode, practice type, end use and region. Based on the product, the market is segmented into Practice Management Software, Imaging Software. Based on the delivery mode, the market has been segmented into On-premise, Cloud/Web-based. Based on the practice type, the market has been segmented into Small Animals, Mixed Animals, Equine, Food-producing Animals. Based on end use the market is segmented as Hospitals/Clinics, Reference Laboratories. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Veterinary Practice Software Market Analysis by Product
Practice management software dominated the market and account for veterinary practice management software market share comparison of over 65.50% in 2021. The practice management software dominated market due to the growing demand from consumers and the cost effective nature of these systems. The software is used to record different protocol of patient, healthcare recommendations, keep track of the patient's health, invoicing and billing of patients, resource management, inventory tracking, and management of treatment procedures, to run daily routine fastest and easiest way. Imaginary software used for CARESTREAM VXR X-Ray System, Vita Flex CR System, or DRX Core Detector.
Veterinary Practice Software Market Analysis by End Use
The hospitals/clinics segment dominated the market for veterinary software and held veterinary practice management software share comparison in terms of revenue over 50.1% in 2021. The market growth is increased due to technological advancements in pet care which are increased used for veterinary practice software in management.
Reference laboratories segment is expected to fastest growth in the forecast period. In laboratory veterinarians use and develop various technologies for the detection and monitoring of various diseases. Government organizations are increasingly involved in issuing guidelines for the promotion of reference laboratories globally, which increased the demand for software used in veterinary practice management.
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North America dominated the market and held the largest revenue share of over 40.30% in 2021. The presence of well-established companies, advanced healthcare IT infrastructure in North America help increase demand for veterinary practice management software. The high spending capacity of pet owners have increased the revenue share of this segment. The increasing volume of pet health organizations is expected to boost the market growth in this region.
The Asia Pacific market is faster growing with CAGR of 11.2% during the forecast period. The fastest growth attributes to the continuously growing livestock population, increasing demand for animal-derived food products, and rising pet adoption in Asia Pacific region. The increasing population of pets has increased demand for presence of unmet clinical needs and growing awareness levels amongst patients and practitioners are expected to increase growth of the veterinary practice software management market during the forecast period.
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Veterinary Practice Software Market Driver
Rising Pet ownership
Veterinary Practice Software Market Restraint
Lack of Government incentives
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Veterinary practice software market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Veterinary Practice Software Market Top Player's Company Profiles
Veterinary Practice Software Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Veterinary practice software market analysis, North America captures higher market share and dominated the market and the growth of the region is attributed to presence of well established companies, advanced healthcare IT infrastructure. The US has emerged as a significant contributor to market growth in North America. In terms of product, the practice management software product segment dominates the market. This segment's leading position can be attributed to the growing demand from consumers and the cost effective nature of these systems. In terms of end use, the hospitals and clinics led the market and laboratory practice predicted to grow at the fastest rate.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 436.26 Million |
Market size value in 2032 | USD 1089.11 Million |
Growth Rate | 10.7% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Million |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Veterinary Practice Software Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Veterinary Practice Software Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Veterinary Practice Software Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Veterinary Practice Software Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35G2127
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