The veterinary software market is expected to reach $368.7 million by 2019 from $280.1 million in 2014, at a CAGR of 5.6%.
Dallas, TX -- (SBWIRE) -- 05/28/2015 -- The global veterinary software market is categorized on the basis of product type, delivery model, practice type, end user, and region. The web-based/cloud-based model segment is expected to register the highest growth rate in the veterinary software market, by delivery model, during the forecast period. This high growth is attributed to the various advantages offered by this model—data centralization capabilities, automatic software upgradation, and easy customization. Furthermore, this model offers cost-effectiveness due to the elimination of purchasing costs of software and hardware.
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Major factors driving the growth of this market include rising companion pet ownership and care, and the increasing number of veterinary practitioners. Furthermore, increasing product innovation and the integration of additional functions/tools by market players for better practice outcomes is another major factor providing an impetus to the growth of this market. For instance, in May 2013, Timeless Veterinary Systems, Inc. (U.S.) introduced a highly customizable teleradiology platform, the Timeless Case Management System, designed to empower veterinary radiologists with an affordable first-class system to manage their entire online consulting service. The penetration in emerging economies by education and training can open an array of opportunities for the veterinary software market.
However, the lack of government incentives and awareness, and the reluctance to adopt new and advanced systems are expected to restrain the growth of this market. Web-based/cloud-based models, and exclusive small animal practices, are expected to serve as new revenue pockets for the veterinary software market in the coming five years. The companies profiled in veterinary software market research report are Henry Schein, Inc., Idexx Laboratories, Inc., Patterson Companies, Inc., Britton's Wise Computer, Inc., Firmcloud Corporation, Animal Intelligence Software, Inc., Timeless Veterinary Systems, Inc., Ezyvet Limited, OR Technology (OEHM UND Rehbein GMBH), and Medanext, Inc.
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Apart from the comprehensive geographical and product analysis and market sizing, the report also provides a competitive landscape that covers growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise basic views on key players in the veterinary software market and the product portfolios, developments, and strategies adopted by market players to maintain and increase their market shares in the near future. The above mentioned market research data, current market size, and forecast of future trends will help key players and new entrants to make the necessary decisions regarding product offerings, geographical focus, changes in strategic approach, R&D investments for innovations in products and technologies, and levels of output in order to remain successful.
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