As stated in our extensive report; providing insights onProduct, Delivery Model, Practice Type, and Region;the Global Veterinary Software Market accounted for USD 472.9 Million in the year 2021.
Recently, major factors propelling the growth of the market include product innovations and software integration by the players in the market, coupled with increasing opportunities for practice management and rapid adoption of information systems in veterinary healthcare.
The major factors that are expected to be driving the veterinary software market are rising companion animal ownership and demand for pet insurance with growing animal health expenditure. However, the lack of government incentives for the adoption of veterinary software, the reluctance of veterinarians towards adopting new technologies, and the lack of awareness about veterinary software in developing countries are restricting the growth of this market.
For instance, Finnish Net Solutions signed an agreement with Tolnagro Ltd to distribute the Provet Cloud veterinary practice management system in Hungary.
In 2016, Patterson Companies signed a partnership agreement with Vetter Software to develop eShelf, cloud-based software that provides veterinarians with a way to manage inventory in their clinics. The software allows veterinarians to set alerts for product reorders and place orders with Patterson directly from their Vetter Software accounts
Veterinary Software Market has been adversely affected in recent months owing to the outbreak of the pandemic, COVID-19, in December 2019. The outbreak has resulted in numerous countries imposing lockdowns and shutting down businesses except for essential services (allowed with minimum workforce). Several businesses have increased their focus on profitability and reduced their expenses in manufacturing, which is decreasing the demand for Veterinary Software Market.
Asia Pacific is expected to grow at the fastest Compound Annual Growth Rate (CAGR) in the coming years owing to the high demand for veterinary software.Additionally, this region has the majority of pet owners and companion animal demand thus helping flourish the market in coming years. Countries such as the U.S. & Canada are considered to be the most pet demanding countries, pet management, and others. These are a few of the reasons is expected to grow in the coming years.
Developing economies like India, China, and the Middle East are considered to gain huge opportunities in the adoption of veterinary software. North America held the largest share of the Veterinary Software Market in 2021, followed by Europe and the Asia Pacific. In major parts of the world, the market is still growing owing to insufficient funds, lack of awareness, minimum availability of Research and Development (R&D) facilities, underdeveloped veterinary infrastructure, and social constraints.
Major players of the Global Veterinary Software Market such as Henry Schein Inc. (US), IDEXX Laboratories Inc. (US), Patterson Companies Inc. (US), Vetter Software Inc. (US), Animal Intelligence Software Inc. (US), Timeless Veterinary Systems Inc. (Canada), Britton's Wise Computer Inc. (US), ezyVet Limited (New Zealand), FirmCloud Corporation (US), OR Technology (Oehm Und Rehbein GmbH) (Germany), VIA Information Systems (US), Hippo Manager Software Inc. (US), Finnish Net Solutions (Finland), Carestream Health (Canada), ClienTrax (US) and others.