Veterinary Software Market to Reach $2.08 Billion by 2027- Estimated to Observe Significant Growth

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Increased pet ownership and increasing animal health expenses are driving the growth of the global veterinary software market.

PORTLAND, OREGON, UNITED STATES, Aug. 18, 2021 / – According to the report, the global veterinary software industry was valued at $ 1.31 billion in 2019 and is expected to reach $ 2.08 billion by 2027, with an annual growth rate of 6.1% from 2020 to 2027. The increase in pet ownership, the increasing need to streamline daily tasks in veterinary clinics, and the increase in animal health spending are driving the growth of the global Veterinary Software Market. However, the lack of veterinary infrastructure facilities in underdeveloped countries is hindering the market. On the contrary, it is expected that the increasing introduction of cloud-based technologies and potential opportunities in developing markets will create opportunities for market participants in the future.

Browse Report Description –

Impact of Covid-19 on the Veterinary Software Market:

• During the Covid-19 pandemic, the demand for pets has increased as most people work from home and have enough time to spend with their pets. This has been beneficial for the veterinary software industry.

In addition, post-Covid-19 pandemic veterinary practice management software would experience a significant boom due to the remote monitoring, telemedicine solutions and custom customer communications offered by the software.

Get Detailed COVID-19 Impact Analysis On Veterinary Software Market:

The veterinary practice management software segment had the largest share in 2019, accounting for nearly two-fifths of the global veterinary software market as it helps manage the day-to-day operations of veterinary practices such as scheduling and collecting patient demographics. However, the veterinary imaging software segment is expected to have the highest CAGR of 7.7% over the forecast period as the need to keep the digital image records for all images, digital x-rays, videos and image sequences of an animal increases.

The cloud segment is expected to see the highest CAGR of 7.8% over the forecast period as it requires less investment in hardware infrastructure and vendors often offer flexible plans based on user usage. However, the on-premise segment held the lion’s share in 2019 and contributed to more than two-thirds of the global veterinary software market as most companies prefer to deploy veterinary software in their own environment for optimal application performance.

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North America had the largest share in 2019, accounting for more than two-fifths of the market due to the presence of key players in the region, high ICT spending and the early adoption of advanced technologies across the healthcare industry. However, the global veterinary software market across Europe is expected to show the highest CAGR of 7.7% during the forecast period due to the increasing number of pets, increasing animal health spending and the presence of veterinarians.

Important market participants

• Animal Intelligence Software, Inc.
• Covetrus Inc.
• ClientTrax
• IDEXX Laboratories Inc.
• Hippo Manager Software Inc.
• Patterson Companies Inc.
• MWI animal health
• Three plus group
• Petabyte technology
• Vetspire Inc.
• Timeless veterinary systems
• VetZ GmbH
• Vetter Software Inc.
• VIA information systems

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Allied Market Research (AMR) is a full-service market research and management consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides unmatched quality of “Market Research Reports” and “Business Intelligence Solutions” to global corporations as well as medium and small businesses. AMR provides focused business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services in 11 industries including Life Sciences, Consumer Goods, Materials and Chemicals, Construction and Manufacturing, Food and Beverage, Energy and Energy, Semiconductors and Electronics, Automotive and Transportation, ICT and Media, Aerospace and Defense, and BFSI .

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August 18, 2021, 7:28 PM GMT

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