Veterinary Software Market by Product (Practice Management Software, & Imaging Software), Delivery Model (On-Premise, & Cloud/ Web-based), Practice Type (Small Animal, Mixed, & Large Animal), & End User (Veterinary Clinics, & Laboratory) - Forecast to 2019
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%. 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.
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.
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 abovementioned 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.
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms, gain a greater market share. Firms purchasing the report can use any one or a combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios of top players in the veterinary software market. The report analyzes the veterinary software market by product type, delivery model, practice type, end user, and region
Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the veterinary software market
Competitive Assessment: In-depth assessment of market strategies, geographical and business segments, and product portfolios of leading players in the veterinary software market
Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the market for various veterinary software products across regions
Market Diversification: Exhaustive information about new products and services, untapped regions, recent developments, and investments in the veterinary software market