360 MARKET UPDATES Report provides a 360-degree overview of the global Veterinary Software Market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Report Title: “Global Veterinary Software Market – Segmented by Product, Delivery Models, Animal, and Geography – Growth, Trends, and Forecast (2018 – 2023)”
Global “Veterinary Software Market” is expected to register a CAGR of approximately approximately 7.1% during the forecast period of (2018 – 2023). Also, Veterinary Software Market report provides the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Veterinary Software Analysis.
Veterinary Software market Report provides a 360-degree overview of the global Veterinary Software market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Veterinary Software Market Report Covers Leading Manufacturers: Animal Intelligence Software, Inc., Carestream Health, FirmCloud Corp., Henry Schein Veterinary Solutions, IDEXX Laboratories, Inc., OR Technology – Oehm und Rehbein GmbH, Patterson Companies, Inc., Timeless Veterinary Systems, Vetter Software, Inc., and VIA Information Systems among others.
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The Veterinary Software Market is expected to register a growth rate of approximately 7.1% during the forecast period, 2018-2023. Veterinary Software refers to the software which serves the veterinary healthcare industry used for dealing with everyday operations of an animal clinic other than the medical practice, such as client and patient details capturing, billing tasks, appointment scheduling, client communication, and report production.
The market is primarily driven by product innovation and software integration, rise in opportunities for practice management, adoption of information system in veterinary healthcare, and growth in demand for farm management. As per the geographical analysis, North America followed by Europe is expected to dominate the market, while Asia-Pacific is expected to exhibit fastest growth rate owing to the factors such as rise in awareness about pet health and increase in demand of proper veterinary healthcare management.
Rise in Opportunities for Practice Management to Propel the Veterinary Software Market
The increasing demand for proper practice management system (PMS) in the field of veterinary healthcare is expected to propel the market growth. According to Veterinary Hospital Managers Association (VHMA), as a result of the growing demand for pet care, the requirement for more advanced equipment, processes, and most importantly, systems and software have also increased. It has been acknowledged by veterinarians that the professional management of veterinary practices has become the prime concern to remain competitive by fulfilling every possible requirement of the clients. Being involved in various levels and aspects of responsibility regarding how a veterinary hospital works, a veterinary hospital manager needs to create scope for the team to deliver efficient and quality health care to animals. For example, a hospital administrator has the responsibility of supervising all financial, operational, human resource, and business development activities.
Owing to the fact that technological solutions help to improve patient communication, diagnostic potential and incorporate the business, it can be inferred that software integration has the potential to reduce labor time and rate of error, enhance productivity as well as the quality of patient care. Moreover, veterinary practice software has experienced advancements for integrating with diagnostic and laboratory equipment and also for streamlining data, lab results and images directly into a patientâs medical record, which can be remotely shared with other veterinary practitioners for various purposes such as consultations, dual treatments, training, etc. Thus the increasing need of providing optimum care to animals by proper practice management is expected to drive the growth of Veterinary Software market.
In addition to the aforementioned factor, product innovation and software integration, adoption of information system in veterinary healthcare, and growth in demand for farm management are expected to propel the market growth over the forecast period.
Shortage of Technologically Skilled Veterinarians to Limit Growth of the Veterinary Software Market
The lack of opportunities for veterinarians to learn proper technological skills is expected to restrain the market growth. According to an article published in the Journal of the American Veterinary Medical Association in 2016, more than 30 private sector veterinary technician programs were in the process of being closed, attributing to challenging federal regulatory environment. Similarly, as per the results from the 2016 National Association of Veterinary Technicians in America (NAVTA) survey, 11% of veterinary technicians identified lack of resources and opportunities as the primary challenge faced by them in practice. Additional, according to the VHMAâs October 2016 Insidersâ Insight report, dealing with the issue of hiring and retaining veterinary technicians, 41% of the respondent managers claimed the number of available as well as skilled veterinary technicians to be insufficient for satisfying current demand.
In addition, 48% recognized the need of some college or foundational work for proper training of technicians, while more than 50% identified hands-on training to be a critical aspect and 10% wanted these programs to promote a culture of professionalism. Moreover, 26% acknowledged the fact that the training programs are troubled by a variety of issues such as lowered enrollment, expanded regulation and higher cost of living for students. As a result of these aforementioned factors, the lack of required technical and software skills in veterinarians is expected to restrain the Veterinary Software market. Hence, impeding the market growth.
North America to Dominate the Veterinary Software Market
North America is expected to retain its largest market share in Veterinary Software market over the forecast period owing to the rising companion animal adoption, and increasing per capita animal healthcare expenditure. In addition, growing awareness about pet health among the pet owners, rise in product innovation, software integration, sophisticated technology, high percentage of tech-savvy owners, advanced healthcare IT infrastructure, ample scope for the implementation of PMS, and growing volume of pet health organizations are some other factors for propelling the growth of the Veterinary Software in North America.
Asia-Pacific is expected to demonstrate highest growth rate owing to rising demand for veterinary practice management, large livestock population, increasing demand for animal-based food products, rising pet adoption, technological advancements, rapid westernization, high incidence of zoonotic diseases and the requirement to cure the diseases are anticipated to propel the market growth. Hence, the aforementioned factors are expected to fuel the growth of the Veterinary Software market in the Asia Pacific.
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Reasons to Purchase Veterinary Software Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
- Analysing various perspectives of the market with the help of Porter’s five forces analysis.
- The authentication mode is likely to witness the highest adoption of these systems in the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
“We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.”
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