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Veterinary Software Market size was valued at around USD 600 million in 2022 and is expected to grow at a CAGR of 5-7% from 2023 to 2032. Veterinary software is a form of medical software that helps clinics track patients and manage their everyday administrative activities. Veterinarian practices need to collect patient records, monitor treatments, manage scheduling, and handle invoicing. The growing development for Practice Management Systems (PMS) from veterinarians is a major factor driving market expansion. Greater knowledge of the benefits of using software solutions as well as the increasing clinical visits by pet owners will drive the adoption of software solutions in veterinary clinics over the coming years. For instance, in May 2022, Covetrus, a worldwide pioneer in animal health technology & services, launched Ascend, a robust & cloud-based PMS designed to help veterinary offices in Europe and Asia Pacific.
The growing pet adoption is likely to increase the use of veterinary software by veterinarians, fueling market outlook during the forecast period. Some factors that will fuel market expansion include the rising adoption of cloud-based software, product innovations, and software integration.
The product segment in veterinary software market is further bifurcated into veterinary PMS, veterinary imaging software, and others. The veterinary PMS segment is poised to witness the highest gains by 2032 owing to growing consumer demand as it offers several advantages such as easy management of patient communication, patient intake, and payments. The Key market players are focusing on expanding & advancing their software to strengthen their position. For instance, in February 2022, Shepherd Veterinary Software expanded the automation capabilities of its PMS.
Based on the delivery model, the on-premises segment is slated to account for the highest market revenue in 2023 owing to the low cost and widespread availability of the model. However, the web/cloud-based segment is set to witness the fastest growth owing to increased consumer preferences for and adoption of these models. For instance, in December 2022, Weave, a customer communication & engagement platform for small & medium-sized enterprises, partnered with Patterson Veterinary's NaVetor veterinary cloud software.
The veterinary software market in North America is expected to grow due to the rising product launches, growing pet adoption in the U.S., and increased use of veterinary software by veterinarians. For instance, in January 2022, Covetous launched Covetrus Pulse, an innovative cloud-based Veterinary Operating System (VOS) that connects veterinarians to the technology required to manage their practices, freeing up more time to spend with the animals in their care.
The prominent players in the veterinary software industry are Idexx Laboratories, Inc., Hippo Manager Software, Inc., VetZ Limited, Esaote SpA, Henry Schein, Inc., Patterson Companies, Inc., ClienTrax, VIA Information Systems, Onward Systems, Inc., Animal Intelligence Software, ezyVet, Provet Cloud, VitusVet DaySmart Software, and NaVetor.