Global Veterinary Software Market: Top Trends Shaping the Industry with a Strong 8-10% CAGR Until 2029

The global veterinary software market is set to witness a growth rate of 8-10% in the next 5 years. Rising companion animal ownership; growing demand for pet insurance coupled with increasing spending on veterinary care; increasing product innovation and integration to enhance practice efficiency; expanding consolidation in the veterinary healthcare industry; and growth in livestock population and veterinary services are some of the key factors driving the veterinary software market. 

Veterinary software is a specialized digital tool designed to streamline the management and operations of veterinary practices. It assists veterinarians in various tasks such as patient record-keeping, scheduling appointments, billing, inventory management, and communication with pet owners. Advanced veterinary software may also include features like diagnostic tools, treatment planning, and telemedicine capabilities, enabling better patient care. It can be cloud-based or on-premise, allowing access from multiple devices and improving collaboration among veterinary teams. By automating routine tasks, veterinary software enhances efficiency, reduces administrative errors, and ensures a higher standard of care for animal patients.

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Growing demand for pet insurance coupled with increasing spending on veterinary care to propel market demand

The growing demand for pet insurance, alongside increasing spending on veterinary care, is significantly driving the veterinary software market. As more pet owners invest in insurance, they seek higher-quality healthcare for their animals, boosting the need for efficient, well-managed veterinary services. Veterinary software solutions streamline operations like billing, claims processing, and patient management, ensuring smoother workflows for clinics handling insured pets. Additionally, rising pet healthcare expenditure encourages clinics to adopt software that improves practice efficiency, reduces errors, and enhances patient care, further propelling the market for veterinary software solutions in both small and large practices.

Expanding consolidation in the veterinary healthcare industry driving the market growth

Corporate consolidation in the veterinary industry has been on the rise for the last decade especially in the US. For instance, major players like Mars Veterinary Health, National Veterinary Associates (NVA), and Banfield Pet Hospital have expanded their portfolios by acquiring numerous independent practices. The expanding consolidation in the veterinary healthcare industry is driving growth in the veterinary software market. As veterinary clinics and hospitals merge into larger, more comprehensive networks, there is a rising need for scalable, integrated software solutions to manage complex operations across multiple locations. Consolidated practices require unified systems for patient records, billing, inventory, and communication to ensure consistency and efficiency. This consolidation also drives investments in advanced software to standardize care, improve workflows, and enhance data sharing across the network, further boosting the demand for robust veterinary software solutions that can handle these larger operations.

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Competitive Landscape Analysis

The global veterinary software market is marked by the presence of established and emerging market players such as IDEXX, Covetrus, Inc., Hippo Manager, DaySmart Software, Patterson Veterinary Supply, Provet Cloud, PetDesk, Onward Vet, Carestream Health, and Agfa-Gevaert Group; among others. Some of the key strategies adopted by market players include new product development, strategic partnerships and collaborations, and geographic expansion.

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Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy. Our methodology includes rigorous secondary research combined with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply side decision-makers.

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