REDDING, Calif., June 5, 2024 /PRNewswire/ — According to a new market research report titled, “Veterinary Practice Management Software Market Size, Share, Forecast, & Trends Analysis by Delivery Mode (On-Premises, Cloud) Practice (Companion Animals, Mixed, Equine) Functionality (Billing, EMR, Scheduling, Inventory) End User — Global Forecast to 2031″, published by Meticulous Research®, the veterinary practice management software market is expected to reach $674.5 million by 2031, at a CAGR of 7.7% from 2024 to 2031.
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Veterinarians use veterinary practice management software to manage patient information, treatment planning, and scheduling, as well as back-office functions, such as accounting. This type of software helps veterinary clinics with patient diagnosis and treatment management and allows nurses or technicians to deliver treatments efficiently. Administrative personnel use veterinary practice management software to manage patient communications, influx, and payments. More advanced veterinary practice management software is available for veterinary hospitals, while small clinics or private practices can use scaled-down versions.
The growth of this market is driven by key factors such as the growing pet & livestock population, the growing risk of developing chronic & infectious diseases in companion & livestock animals, the growing number of strategic partnerships resulting in product innovation and software integration, and increasing animal health expenditure & pet insurance in developed countries.
However, limited adoption among small veterinary medical practices restrains the market’s growth. Additionally, the dearth of veterinary practitioners for livestock animals poses a challenge to the market’s growth.
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Growing Risk of Developing Chronic & Infectious Diseases in Companion & Livestock Animals is Driving the Market Growth
In recent years, disease prevalence in companion animals has been changing. There are many conditions responsible for increasing the prevalence of diseases and affecting the health of the pet population. Obesity, diabetes mellitus, and heartworm diseases are the most common diseases diagnosed in canine and feline populations. Diabetes Mellitus is a chronic disease requiring lifelong treatment, medication, and proper monitoring. As of 2023, as per the data revealed by the Association for Pet Obesity Prevention (APOP), 28% of cats and 17% of dogs in the U.S. were considered overweight or obese. Similarly, the prevalence of diabetes is also high in companion animals.
In addition to chronic diseases, infectious diseases in animals increase the visits to veterinary clinics. Zoonoses, or infections spreading from animals to humans, disrupt the production and trade of products based on livestock. In livestock, pathogenic infections include atrophic rhinitis, bluetongue, bovine spongiform encephalopathy (BSE), avian influenza, swine influenza, and bovine diarrhea. According to the World Health Organization (WHO), approximately 60% of infectious diseases reported all over the world come from animals, including domestic and wild.
The veterinary practice management software market is segmented based on Delivery Mode (On-Premise and Cloud/Web-based Model), Practice Type (Companion Animal Practices, Mixed Animal Practices, Food Producing Animal Practices, and Equine Practices), Functionality (Appointment Scheduling, Electronic Medical Records, Inventory Management, Billing and Invoicing, Other Functionalities), End User (Veterinary Hospitals, Referral & Specialty Practices, and Ambulatory Veterinary Services), and Geography. The study also evaluates industry competitors and analyzes their market share at global and regional levels.
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The report also includes an extensive assessment of the key growth strategies adopted by leading market players over the past three to four years. Some of the key players operating in the veterinary practice management software market are IDEXX Laboratories, Inc. (U.S.), COVETRUS, INC. (U.S.), Hippo Manager Software, Inc. (U.S.), Advanced Technology Corp. (U.S.), VETport LLC. (U.S.), DaySmart Software (U.S.), AmerisourceBergen Corporation (U.S.), Animal Intelligence Software Inc. (U.S.), FirmCloud Corp. (U.S.), ClienTrax (U.S.), and ezofficesystems Ltd. (U.K.).
Among the delivery modes covered in this report, in 2024, the on-premises model segment is expected to account for the larger share of 58.7% of the veterinary practice management software market. However, the cloud/web-based model segment is expected to show the fastest growth rate of CAGR during the forecast period. Big or medium-sized veterinary settings generally use cloud/web-based veterinary practice management software. Cloud/web-based veterinary practice management software eliminates the need for a physical server and any maintenance costs that go hand-in-hand with a physical on-premises server. Cloud/web-based software works well with veterinarians who often work out of the clinic (or travel) to visit their patients on farms.
Among the practice types covered in this report, the companion animal practices segment is expected to account for the largest share of the veterinary practice management software market. Companion animal practices are the most common type of veterinary practice specializing in caring for small animals like cats, dogs, birds, rabbits, and some pocket pets. Companion animal practices generally use veterinary practice management software to assist daily operations such as scheduling appointments, communicating with patients, generating e-medical records, invoicing & accounting, reporting (revenues, products or services sold, end of the day reports), generating invoices, inventory tracking, and generating client database. Veterinary practice management software helps veterinarians deliver the best care to their patients by streamlining workflows and automating time-consuming tasks.
Among the functionalities covered in this report, the appointment scheduling segment is expected to account for the largest share of the veterinary practice management software market. This segment’s large market share can be attributed to increasing chronic diseases in pets and growing awareness of animal health.
Among the end users covered in this report, in 2024, the veterinary hospitals segment is expected to account for the largest share of 93.8% of the veterinary practice management software market. The large market share of this segment can be attributed to the growing number of veterinary hospitals, the rising number of veterinarians, and the adoption of advancements in veterinary hospitals.
Based on geography, the veterinary practice management software market is segmented into North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific), Latin America, and Middle East & Africa. In 2024, North America is expected to account for the largest share of 37.8% of the veterinary practice management software market. North America’s major share can be attributed to the rising pet ownerships, growing pet industry expenditures, rising prevalence of diseases in companion animals, and growing awareness about animal health.
The Asia-Pacific veterinary practice management software market is slated to register the highest growth rate of during the forecast period.
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Scope of the Report
Veterinary Practice Management Software Market, By Delivery Mode
- On-premises
- Cloud/Web-based
Veterinary Practice Management Software Market, By Practice Type
- Companion Animal Practices
- Mixed Animal Practices
- Food Producing Animal Practices
- Equine Practices
Veterinary Practice Management Software Market, By Functionality
- Appointment Scheduling
- Electronic Medical Records
- Inventory Management
- Billing and Invoicing
- Other Functionalities
Note: Other functionalities include prescription management and reporting & analytics.
Veterinary Practice Management Software Market, by End User
- Veterinary Hospitals
- Ambulatory Veterinary Services
- Referral & Specialty Practices
Veterinary Practice Management Software Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Switzerland
- Netherlands
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
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