Newly-released animal health software industry analysis report by Future Market Insights shows that global sales of Animal Health Software in 2022 were held at USD 623.8 million. With a 11% projected CAGR, the market is expected to reach a USD 1966.1 million valuation by 2033. Practice Management Software is expected to be the highest revenue-generating type, accounting for an absolute dollar opportunity of nearly USD 750 million during 2023 to 2033.
| Attributes | Details |
|---|---|
| Global Animal Health Software Market Size (2023) | USD 692.4 million |
| Global Animal Health Software Market Size (2033) | USD 1966.1 million |
| Global Animal Health Software Market CAGR (2023 to 2033) | 11% |
| U.S. Animal Health Software Market Size (2033) | USD 675.7 million |
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As per the Animal Health Software industry research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2018 to 2022, the market value of the Animal Health Software industry increased at around 10% CAGR, wherein, countries such as the USA, UK, China, South Korea and Japan held significant share in the global market.
Owing to the continuous adoption, the Animal Health Software market is projected to grow at a CAGR of 11% over the coming 10 years.
Animal Health Software provides a comprehensive solution for the management of a veterinarian's office, including the maintenance of schedules and records. According to the American Veterinary Medical Association, there are approximately 68,000 veterinarians in North America and approximately 22,000 in the United Kingdom who practice privately. This figure is expected to rise further over the forecast period. This increase is expected to drive demand for Animal Health Software for carrying out operations in clinics and reference research labs.
The demand for virtual pet care visits increased during the pandemic, resulting in the widespread adoption of Animal Health Software solutions. The number of pet owners has grown significantly over the years, and this trend is likely to continue in the years ahead. According to the American Pet Products Association, approximately 33% of pet owners owned a dog, while 27% of pet owners owned a cat. In total, it was estimated to be around 59% in 2023. As a result, the increase in the adoption of pets accelerates market growth.
Due to rising demand for Animal Health Software in developing nations, particularly India and China, the market in the Asia Pacific region is predicted to grow at the fastest rate of almost 9.5% during the forecast period. This rise can also be attributed to a higher standard of living. The need for software is likely to rise as the pet population grows and health issues for pets become more prevalent.
The market in the Asia Pacific is projected to increase at a significant pace throughout the projection period. Increased disposable income is predicted to improve the possibility of pet adoption and open up new commercial opportunities. The market is likely to grow throughout the forecast period as advanced healthcare infrastructure continues to be modernized. It has been reported that market opportunities, particularly in the Asia Pacific, have risen as a result of expanding veterinary healthcare expenditure and pet population lifestyle in countries such as China and India.
The Asia Pacific market is expected to grow at the highest rate during the forecast period due to the rising market for veterinary practice management as a result of the region's constantly growing livestock population, rising demand for animal-derived food products, and soaring pet adoption. The existence of unmet clinical needs, as well as rising levels of awareness among patients and practitioners, are expected to drive market growth over the coming years. The urgent need to address healthcare issues caused by the high prevalence of zoonotic diseases, as well as the need to manage disease outbreaks, are expected to drive market growth.
The United States market holds the highest Animal Health Software market share of more than 41%, which is expected to continue throughout the projected period. The presence of well-established businesses, advanced health IT infrastructure, and increased buying capacity of pet owners account for the majority of this segment's revenue share.
There are numerous opportunities for PMS implementation in this region which provides lucrative opportunities for investment in this industry. The growing number of pet health organizations, such as the World Small Animal Veterinary Association, combined with rising pet care spending by individuals and governments, is expected to drive market growth in this region even further.
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Over the last few decades, the increasing use of information systems in healthcare practices has significantly altered the way patients are cared for. The new veterinary practice management software enables veterinary service providers to directly access diagnostic lab results, thus reducing the treatment time and making it convenient for pet owners.
This type of data sharing via the internet also improves treatment efficiency and reduces the possibility of any medical slipups. The introduction of technically sophisticated software that provides solutions for all processes in veterinary clinics on a single platform is anticipated to produce an increasing adoption rate.
The food-producing animals retained a dominant position of more than 42% in 2022, owing to rising demand for cost-effective products to safeguard livestock health. The growing need for such goods from veterinarian medication makers to oversee the manufacturing process, maintain product stockpile and quality information, and monitor activities like pharmacovigilance is moving the segment ahead.
Nutritional animal products account for one-third of human protein intake in emerging nations, according to the Food and Agriculture Organization. This increases the demand for increased livestock output, which is necessary to meet the world's rising population's dietary needs. These pressures have an impact on the entire section.
The advent of veterinary control management systems that aid in the identification and registration of livestock, as well as the maintenance of farm records including owner information, is expected to accelerate the adoption of these solutions in the coming years. Some Animal Health Software systems can also map disease prevalence, treatment rates, and vaccination rates. As a result, widespread use of this software in food-producing animal healthcare coverage is expected to fuel growth.
Owing to their convenience, on-premise solutions are expected dominate the overall industry in 2023, with a revenue share of more than 51%. The cost of these platforms, however, is higher because it includes the cost of the overall system as well as the hardware and software package.
This is expected to be a barrier to the growth of on-premise amenities. Because of the associated benefits, the cloud/web-based strategies segment is expected to grow at a profitable CAGR during the forecast period. Users can access health information remotely, and these solutions help to reduce the risk of information misuse.
The ease of access provided by proper IT facilities used in the deployment of cloud/web-based solutions aids in increasing productivity and profits for the organization. The high cost of implementation is expected to restrict their adoption by new players.
The implementation of cloud-based solutions, on the other hand, is expected to alter the dynamics. These services provide a centralized location for patients, researchers, and practitioners to access medical information. These platforms reduce the risk of data theft by providing a secure platform for information sharing and allowing veterinarians to keep track of data. This is expected to increase the adoption of cloud/web-based solutions in the coming years.
The key Animal Health Software companies include IDEXX Laboratories Inc., Hippo Manager Software Inc., VetZ Limited, Esaote SpA, Henry Schein Inc, Patterson Companies, Vetter Software, Animal Intelligence Software, Timeless Veterinary Systems, ezyVet Limited, Britton’s Wise Computer, FirmCloud Corporation, Clientrax, VIA Information System, Finnish Net Solutions, Carestream Health, and OR Technology.
Some of the recent developments of key Animal Health Software providers are as follows:
| Report Attributes | Details |
|---|---|
| Global Animal Health Software Market CAGR (2023 to 2033) | 11% |
| Base Year for Estimation | 2022 |
| Historical Data | 2016 to 2022 |
| Forecast Period | 2023 to 2033 |
| Global Animal Health Software Market Size (2023) | USD 692.4 million |
| Global Animal Health Software Market Size (2033) | USD 1966.1 million |
| Quantitative Units | Revenue in USD Million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Product Type, Deployment Mode, Practice Type, End-User, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia & Pacific; East Asia; Middle East & Africa (MEA) |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Companies Covered | IDEXX Laboratories Inc; Hippo Manager Software Inc.; VetZ Limited; Esaote SpA; Henry Schein Inc; Patterson Companies; Vetter Software; Animal Intelligence Software; Timeless Veterinary Systems; ezyVet Limited; Britton’s Wise Computer; FirmCloud Corporation; Clientrax; VIA Information System; Finnish Net Solutions; Carestream Health; OR Technology |
| Customization | Available Upon Request |
The projected revenue of the market by 2033 is USD 1966.1 million.
The market CAGR for 2033 is projected to be 11%.
Vetstream, AccuVet System, Animal Intelligence Software are the key market players.
The market is estimated to secure a valuation of USD 692.4 million in 2023.
Precision livestock farming is becoming more popular as a result of affordable animal healthcare, legal compliance, e-learning, and open access to cloud computing.
| Estimated Size, 2024 | USD 16,131.2 million |
|---|---|
| Projected Size, 2034 | USD 29,329.2 million |
| Value-based CAGR (2024 to 2034) | 6.2% |
| CAGR | 7% |
|---|---|
| Market Size - 2023 | USD 5371.9 million |
| Market Size - 2033 | USD 10560.0 million |
| Market Valuation (2023) | USD 40.9 billion |
|---|---|
| Market Valuation (2033) | USD 62.3 billion |
| Market CAGR (2023 to 2033) | 4.3% |
| Market Value (2022) | USD 37,624.67 Million |
|---|---|
| Market Value (2032) | USD 56,828.56 Million |
| Projected Growth Rate (2022 to 2032) | 4.21% |
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Animal Health Software Market
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