The Veterinary Software Market is all set to be in the driver’s seat shortly. Technology adoption once looked upon as a costly endeavor, is slated to witness a drastic transformation in the form of granular applications. Technologies like DevOps and AIOps are constructively disrupting the healthcare IT sector and are expected to create wonders in this regard in the upcoming period.
Veterinary software has become popular in recent years as technology developments in software have helped streamline management practices and eased veterinary processes. Such software now caters to various small, medium and big veterinary practitioners and laboratories’ requirements. They find equal application in veterinary practices catering to companion and farm animals.
Competition Landscape
The veterinary software market is moderately competitive and the market is largely focussed in North America and Europe. The top three companies, Patterson Veterinary Supply, Henry Schein and IDEXX Laboratories, occupy a substantial share in the global market, while most of the other firms tend to be more country or region-specific.
Some of the key players in the veterinary software market include Patterson Veterinary Supply, Henry Schein, IDEXX Laboratories, Animal Intelligence Software, FirmCloud Corporation, Covetrus, Vetter Software, Finnish Net Solutions, Vet2Pet, VIA Information Systems, Onward Systems, Timeless Veterinary Systems, Esaote, ezyVet Limited, VetZ Limited, MedaNext, Britton’s Wise Computers, OR Technology, VetSuccess, Hippo Manager Software, Carestream Health, VetBlue, ClienTrax, Provet Cloud and VETPORT.
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Trends in the veterinary software market have seen a noticeable shift towards practice management software development; screening/imaging software and other process-specific software was the earlier priority area. Cloud-based integrated software is also a growing trend among developers.
Strategic partnerships are a key strategy adopted by veterinary software manufacturers to expand their market share through collaboration with other software makers or collaboration with veterinary clinics, hospitals and other pet healthcare providers.
A few recent examples of partnerships between software manufacturers and pet health care institutions and providers include ezyVet’s partnership with Cornell University’s College of Veterinary Medicine partnered for use of ezyVet’s cloud-based practice management software, and Vetter Software’s partnerships with online vet appointment booking platform Vetstoria and mobile pet health application Pawprint to make Vetter Software’s practice management solution accessible to these platforms,
Some examples of partnerships between software manufacturers include the partnership between Patterson Companies and Vetter Software to develop a cloud-based inventory management software for veterinary practitioners (the software is reportedly christened eShelf), and the partnership between Finnish Net Solutions and Hungarian veterinary software management company Tolnagro to aid the former’s entry into the Hungarian market; notably, Patterson Companies has also entered into agreements with VetSuccess and Vet2Pet to develop software that are custom-made to provide specific services.
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Region-Wise Analysis
The North American regional segment occupied a lion’s share of the veterinary software market due to several positive factors, including high percentage of domestic and farm animals, high awareness about benefits of veterinary software, high penetration of technology and favourable government policies.
The European regional segment occupied the second largest market share and is anticipated to be the fastest growing market in the years to come. East Asia is the other rapidly growing market, mainly due to increasing veterinary software adoption in China as the country has been adopting technology intensive solutions for animal health, especially that of farm animals. Oceania has also seen rapid growth as veterinarians have increased technology adoption.
The South Asian regional segment has huge potential for growth due to sheer market size, especially in the Indian sub-continent, but suffers from limited technology penetration. However, the market share in Southeast Asia has seen some growth in recent years. Latin America and Middle East and Africa too provide similar opportunities, while also sharing similar constraints.
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