The growth of Veterinary Software 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.
Market Size
The global Veterinary Software Market is projected to reach USD 594 million by 2022 from USD 421 million in 2017, at a CAGR of 6.1%.
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“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.
Recent Developments
• IDEXX Neo (January 2016), rVetLink (June 2017), and IDEXX Web PACS (September 2015) are some of the products launched by the IDEXX Laboratories in the last few years.
• eVetPractice (2017), RxWorks (2016), and Vetstreet (2016) are some of the recent acquisitions made by the Henry Schein (US).
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