NEW YORK, December 20, 2021 / PRNewswire / – 41% of the growth comes from North America for the veterinary software market. The US is a key market for veterinary software in North America. The market growth in this region will be faster than the market growth in Europe, MEA and South America. Increased pet insurance, increased pet ownership and technological developments in the diagnostic field will fuel the growth of the veterinary software market in North America over the forecast period. The veterinary software market is expected to turn around $ 161.37 million at a CAGR of 5.81% from 2021 to 2026, according to the latest research from Technavio.
Attractive Opportunities in the Veterinary Software Market by Deployment and Geography – Forecast and Analysis 2022-2026
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The Veterinary Software Market spans the following areas:
Veterinary Software Market – Drivers
The global pet population is increasing as more households adopt pets. For example, about two-thirds of American households have at least one pet, most of which are dogs. The need to own a pet in the United States is based on the belief that pets make a positive contribution to human life. Other nations, like China, have come a long way in keeping pets, which was once considered illegal. Brazil and India are also experiencing a significant increase in their pet populations. A study of the psychology of pet owners shows that the majority of pet owners believe that their pets have a positive impact on their physical and mental health, which has resulted in a growing pet market. The increasing adoption of pets has increased the demand for pet care, veterinary services, and veterinary visits.
Veterinary Software Market Challenges
Countries, especially in APAC, such as India, Sri Lanka, China, Indonesia and the Philippines do not have such strict pet safety regulations. These countries lack suitable veterinary clinics and animal care services, which will hamper the growth of the market over the forecast period. This is due to the lack of organizations and authorities that regulate these issues. The governments of these countries mainly focus on the safety of endangered species. Thus, the lack of properly established animal services in developing countries will hamper the growth of the market over the forecast period.
The story goes on
Veterinary Software Market – Segmentation
Veterinary Software market analysis includes deployment (on premise and cloud based) and geography (North America, Europe, APAC, South America, and MEA).
The growth in market share of veterinary software in the on-premises segment will be significant for revenue generation. Veterinary software for local deployment is considered very secure as it is managed and maintained by end users such as hospitals and other related clinics. Due to the monitored and restricted access, the end users have complete control over the local solutions and can adapt veterinary software solutions as required. This market segment is dominated by large companies that pay more attention to functionality than cost. Since these organizations mainly deal with highly critical data, they are increasingly relying on the on-premise model, as it is more secure thanks to continuous quality control and without the intervention of third parties.
Mentioned companies
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Animal Intelligence Software Inc.
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Brittons Wise Computer Inc.
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Covetrus Inc.
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ezyVet software and applications
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FirmCloud Corp.
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IDEXX Laboratories Inc.
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Oehm and Rehbein GmbH
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Timeless Veterinary Systems Inc.
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Vetter Software Inc.
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VIA information systems
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Veterinary Software Market Size |
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Report coverage |
details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth dynamics & CAGR |
Accelerate with a CAGR of 5.81% |
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Market growth 2022-2026 |
$ 161.37 million |
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Market structure |
Fragmented |
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YoY Growth (%) |
5.13 |
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Regional analysis |
North America, Europe, APAC, South America and MEA |
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Contribute to the market |
North America at 41% |
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Main consumer countries |
USA, Germany, UK, France and China |
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Competitive landscape |
Leading companies, competitive strategies, level of consumer engagement |
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Company profile |
Animal Intelligence Software Inc., Brittons Wise Computer Inc., Covetrus Inc., ezyVet Software and Applications, FirmCloud Corp., IDEXX Laboratories Inc., Oehm und Rehbein GmbH, Timeless Veterinary Systems Inc., Vetter Software Inc. and VIA Information Systems |
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Market dynamics |
Overall market analysis, market growth factors and barriers, analysis of fast growing and slow growing segments, impact of COVID-19 and future consumer dynamics, analysis of market conditions for the forecast period, |
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Adjustment area |
If our report doesn’t contain the data you are looking for, you can contact our analysts and adjust segments |
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SOURCE Technavio
