Veterinary test is a medical process which involves the diagnosis and prevention of disease in animals and their treatment. This branch is gaining importance due to increase in animal population, increasing animal health expenditure, and growth in the number of veterinary practitioners and their revenue levels in developed countries. Veterinary practitioners use software systems to perform their operations with improved efficiency.
The driving factor for the global veterinary software market is rise in occurrence of zoonotic diseases. Increasing occurrence has driven the demand for animal monitoring services and health diagnostics, which is anticipated to increase the demand for veterinary software over the estimated period. The implementation of integrated software systems for treatment and diagnostics is predicted to grow over the forecast period. Moreover, increase in adoption of pet animals fuels the growth of the veterinary software market.
Additionally, increasing product innovation and integration of additional functions by top companies in this market further increases the demand. For instance, Timeless Veterinary Systems, Inc. has introduced a new teleradiology platform. The company has offered veterinary radiologists with an affordable first-class system to manage their entire online consulting service. However, the lack of government initiatives and awareness is hampering the growth of the market. Moreover, high initial cost of veterinary software is restraining the growth of this market.
The global veterinary software market is segmented on the basis of software products, software delivery model, end use vertical, practice type, and geography. Based on software product, the market is segmented into practice management software, electronic medical records (EMR) management, imaging software and others. On the basis of software delivery model, the market can be segmented into cloud based deployment and on premise.
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Geographically, the veterinary software market is fragmented into North America, Middle East & Africa, Asia Pacific, Europe, and South America. North America occupies the largest market share for veterinary software. This is due to advanced healthcare IT infrastructure and presence of well-established companies in this region. Additionally, countries in Asia Pacific such as China and India see substantial growth in the global veterinary software market owing to the growing demand for veterinary practice management and increase in pet adoption in this region.
The market for veterinary software is highly competitive in nature. The market is dominated by key market players such as VIA Information Systems (VCA Company), Patterson Companies Inc., Idexx Laboratories, Inc., Henry Schein Inc., Hippo Manager Software, Inc., Vetz GmbH, Onward Vet, Esaote SpA, Clien Trax, Animal Intelligence Software, Inc., Oehm und Rehbein GmbH (OR Technology), Britton’s Wise Computer, Inc. and others. The industry is observing fierce competition due to rising demand for practice management test. The growth in this market is due to collaborative research initiatives, geographical expansions, new product development, and mergers & acquisitions. Companies are heavily investing in research and development for veterinary software development to maintain competitiveness.
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