Northbrook, IL -- (SBWire) -- 04/19/2018 --According to a new market research report "Veterinary Software Market by Product (Practice Management, Imaging, BI, Marketing), Delivery Model (On Premise, Cloud), Practice (Small Animal, Mixed, Large, Equine, Bovine), End User (Hospitals, Clinics, ASC, Emergency) - Global Forecast to 2022", published by MarketsandMarkets™, the global market is expected to reach USD 594.3 Million by 2022 from USD 442.5 Million in 2017, at a CAGR of 6.1%. The growth of this market is mainly driven by factors such as the rising companion animal ownership, growing animal health expenditure, and growing product innovation & software integration.
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The practice management segment dominated the market in 2017
Based on product, the market is segmented into practice management software, veterinary imaging software, and other software. In 2017, practice management software segment accounted for the largest share of the Veterinary Software Market as this software reduces the possibilities of error and the overall cost of a veterinary healthcare facility.
Based on practice type, the exclusive small animal practices segment dominated the market in 2017
Based on practice type, the Veterinary Software Market is segmented into exclusive small animal practices, mixed animal practices, and exclusive large animal practices. The exclusive small animal practices segment dominated the market in 2017. It is also expected to register the highest growth rate during the forecast period. The growth of this segment is attributed to the rising annual spending on pet care in developed countries and increasing number of small pet owners.
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The veterinary hospitals and referral practices segment is projected to grow at the highest CAGR during the forecast period.
Based on end user, the market is segmented into veterinary hospitals and referral practices, clinics and ambulatory practices, and specialty & emergency hospitals. The veterinary hospitals and referral practices segment is expected to register the highest CAGR during the forecast period. This growth can be attributed to the extensive usage of veterinary software for the preparation, management, and analysis of patient databases for daily/weekly/annual animal hospital visits, monitoring veterinarians, and for easy and quick data accessing and sharing.
North America dominated the Veterinary Software Market in 2017
In 2017, North America dominated the market followed by Europe. The large share of this geographical segment is primarily attributed to the increasing government investments to the growing demand for quality pet care. Other growth factors include growing awareness about veterinary software and the easy availability of veterinary software & services in this region.
The Veterinary Software Market is fragmented, with the presence of several large as well as emerging players. Prominent players in the Veterinary Software Market include Henry Schein (US), IDEXX Laboratories (US), Patterson Companies (US), Vetter Software (US), Animal Intelligence Software (US), Timeless Veterinary Systems (Canada), Brittons Wise Computer (US), ezyVet Limited (New Zealand), FirmCloud Corporation (US), MedaNext (US), OR Technology (Oehm Und Rehbein GmbH) (Germany), VIA Information Systems (US), Hippo Manager Software (US), Finnish Net Solutions (Finland), Carestream (Canada), and ClienTrax (US). Players in this market are adopting various organic and inorganic strategies, such as product launches & upgradations, agreements, partnerships, and collaborations to widen their product portfolios and expand their presence in the market.
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Veterinary Software Market Worth 594.3 Million USD by 2022
The global veterinary software market is expected to reach USD 594.3 Million by 2022 from USD 421.4 Million in 2016, at a CAGR of 6.1%. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022.