Insights on the $780 Mn Veterinary Software Market is Expected to Grow at a CAGR of over 8.7% During 2022-2028 | Vantage Market Research – GlobeNewswire

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WASHINGTON, May 04, 2022 (GLOBE NEWSWIRE) — Vantage Market Research’s recent analysis of the Global Veterinary Software Market finds that the increasing companion animal ownership is expediting market growth. Primarily driven by rising adoption of information systems in healthcare practices, the total Global Veterinary Software Market is estimated to reach USD 780 Million by the year 2028.

The Global Market revenue stood at a value of USD 472.9 Million in the year 2021 and is expected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 8.7%.
Furthermore, the increase in implementation of web-based/cloud-based models is also anticipated to augment the growth of the Global Veterinary Software Market, states Vantage Market Research, in a report, titled “Veterinary Software Market Size, Share & Trends Analysis Report by Product (Veterinary Practice Management Software, Veterinary Imaging Software, Others), by Delivery Model (On-Premise Model, Web-Based/Cloud-Based Model), by Practice Type (Exclusive Small Animal Practices, Mixed Animal Practices, Predominantly Small Animal Practices, Predominantly Large Animal Practices), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”.
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Market Dynamics:
Increasing Companion Animal Ownership to Stimulate Global Veterinary Software Market
The increasing companion animal ownership is anticipated to augment the growth of the Veterinary Software Market in the years to come. The number of pet owners has risen vividly in recent years around the world, and this trend is expected to continue in the coming years. According to the American Pet Products Association’s National Pet Owners Survey from 2017–2018, 68% of households in the United States (84.6 million) had a pet. In the United States, the canine population grew from 69.90 million in 2012 to 89.70 million in 2016, while the feline population grew from 74.05 million in 2012 to 94.20 million in 2016. In Germany, the canine population climbed from 5.30 million in 2012 to 8.60 million in 2016, according to the European Pet Food Industry Federation (FEDIAF), while the feline population improved to 13.40 million in 2016 from 11.80 million in 2014. Thus, with the growing number of pet owners is expected to fuel the demand for veterinary software’s in the years to come.
The Veterinary Software Market covers the following key insights & findings:
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Benefits of Purchasing Veterinary Software Market Reports:    
Segmentation of Global Veterinary Software Market:
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Growing Adoption of Information Systems in Healthcare Practices to Accelerate Market Growth
The growing adoption of information systems in healthcare practices is anticipated to augment the growth of the Veterinary Software Market within the estimated period. New veterinary practise management software allows hospitals and clinics to easily access diagnostic test findings, significantly reducing treatment time and making life easier for pet owners. This form of internet-based data sharing also enhances treatment efficiency while lowering the danger of a medical error. Furthermore, the development of technologically advanced software in veterinary clinics that provides solutions in a single platform for all processes is projected to contribute to an increase in adoption rates. However, the lack of government incentives and lack of awareness about veterinary software in developing countries is expected to hamper the growth of the market in the years to come. Moreover, the increase in implementation of web-based/cloud-based models along with rising penetration in emerging economies through education and training are expected to create immense opportunities for the growth of the market within the forecast period.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the animal health industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
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The report on Veterinary Software Market highlights:
Regional Analysis:
North America Dominated the Global Veterinary Software Market
North America held the largest shares in 2021. The U.S. held the largest share in North America for the Global Veterinary Software Market. This is due to the already present advanced healthcare IT infrastructure in the region. Furthermore, the market’s regional growth is likely to be fuelled by rising spending capacity of pet owners in the region. Additionally, the growing implementation of PMS along with increasing volume of pet health organizations is also projected to drive the growth of the Veterinary Software Market in the region.
List of Prominent Players in the Veterinary Software Market:
Browse market data Tables and Figures spread through 143 Pages and in-depth TOC on “Veterinary Software Market Size, Share & Trends Analysis Report by Product (Veterinary Practice Management Software, Veterinary Imaging Software, Others), by Delivery Model (On-Premise Model, Web-Based/Cloud-Based Model), by Practice Type (Exclusive Small Animal Practices, Mixed Animal Practices, Predominantly Small Animal Practices, Predominantly Large Animal Practices), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)” View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/veterinary-software-market-206598
Recent Developments:
January, 2022: Covetrus, a global leader in animal-health technology and services, announced the launch of Covetrus Pulse, an innovative cloud-based veterinary operating system (vOS) that seamlessly connects veterinarians to the technology they need to manage their practices – freeing up more time to spend with the animals in their care.
June, 2021: IDEXX Laboratories, Inc., a global leader in veterinary diagnostics and software, announced the acquisition of ezyVet, a fast-growing, innovative practice information management system (PIMS). With the acquisition, IDEXX further expands its world-class cloud software offerings that support customers with technology solutions that raise the standard of care for patients, improve practice efficiency, and enable more effective communication with pet owners.
Key Questions Answered in Veterinary Software Market Report:
This market titled “Veterinary Software Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
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