The veterinary software market plays a pivotal role in enhancing the overall veterinary healthcare experience through solution such as patient management software, practice management software, and imaging software. These software help veterinarians to efficiently manage day-to-day operations and delivery of care.

The Global Veterinary Software Market is estimated to be valued at US$ 1.24 Bn in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the Veterinary Software are Idexx Laboratories, Covetrus Inc., Shepherd Veterinary Software, DaySmart Software, ProVet, Asteris, Carestream Health, Heska Corporation, VetStoria, Planmeca OY, Instinct Science LLC, OnwardVet, VETport, ezyVet, and PetDesk.

Veterinary Software Market Demand for pet insurance and rising animal health expenditure are fueling the growth of the market. Various software solutions help veterinarians to enhance operational efficiency, improve communication, perform diagnostics, and enable digital prescriptions and billing.

Globally, North America dominates the veterinary software market owing to higher pet adoption and growing veterinary healthcare infrastructure in the region. However, Asia Pacific market is expected to witness the fastest growth over the forecast period supported by increasing focus of key players and rising number of veterinary practices.

Market key trends

Integration of AI and blockchain is gaining traction in the veterinary software market. AI-based analytical tools help veterinarians to improve diagnostic accuracy and speed. Meanwhile, blockchain ensures accuracy and transparency of clinical and medical records of pets over their lifetime. This helps veterinarians as well as pet owners to monitor pets health in an efficient way.

Porter's Analysis

Threat of new entrants: The veterinary software market has high initial costs associated with R&D and brand building, which reduces threat of new entrants.

Bargaining power of buyers: Several small veterinary clinics have low bargaining power against established software vendors due to lack of alternatives and switching costs.

Bargaining power of suppliers: Established software companies have significant bargaining power over small tech/IT vendors due to their large market share and customer base.

Threat of new substitutes: Alternatives like low-cost cloud-based solutions from startup vendors provide some threat of substitution to traditional on-premise models offered by large players.

Competitive rivalry: The market is growing steadily but still consolidated, with top players competing more on brand reputation, features & customization than just pricing.

Geographical Regions

Veterinary Software Market Regional Analysis in North America currently accounts for the largest share of the global veterinary software market value due to high pet care expenditure and pet ownership in countries like the US.

The Asia Pacific region is expected to grow the fastest during the forecast period owing to rising awareness about animal health, growing pet population, and increasing spending ability in developing markets of China and India.

About Author:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)