New York, Aug. 25, 2020 (GLOBE NEWSWIRE) -- The Global Veterinary Software Market is projected to reach USD 771.6 million in 2027. A major driving force behind the development of this market is the increasing prevalence of zoonotic diseases. The increased prevalence of animal health diagnosis and monitoring services caused demand, which is anticipated to boost market growth during the forecast period.
The increasing implementation of integrated diagnostic and treatment software systems is projected to boost growth in the years ahead. Pet Health Information Systems helps researchers develop therapeutic products that enable an analysis of disease prevalence in real-time. Another growth propeller for veterinary reference laboratories is the application of these solutions in laboratories.
Additionally, zoonotic diseases pose a significant public health burden due to lack of funding and health infrastructure, particularly in tropical areas. A rise in willingness to pay for animal healthcare will drive the adoption over the forecast period of animal health diagnostics and imaging software.
The standards for more modern facilities, procedures, and, most significantly, systems and software have been stepped up, according to the Veterinary Hospital Managers Association (VHMA). Veterinarians understood that competent veterinary practice management had become a central priority in order to stay competitive, meeting all consumer requirements. A veterinary hospital manager needs to work at different levels and areas of responsibility to ensure effective and high-quality animal healthcare for his staff.
While technology technologies enhance patient engagement, diagnosis efficiency, and business integration, software integration has the ability to minimize time and error levels and increase productivity and patient care quality.
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COVID-19 Impact Analysis:
The COVID-19 pandemic would certainly jeopardize the sector’s growth on some level. Key players in the industry do not understand the prospects of the market and continue to change their approaches for support. Aviation was hit by the pandemic, and most foreign companies had to shut down their manufacturing and other operations. There is a shortage of jobs in some parts of the world because of regular lockdowns. COVID-19 affected international markets and exports and imports, leading to a substantial reduction in production. The biggest firms on the market are attempting to clear their stocks and focus on cash reserves. Real disposable profits for producers will certainly be reduced, and new goods would meet the needs of consumers at lower rates.
Further key findings from the report suggest
- The predominant proportion of practical management systems has been the benefits with its use, including maintaining medical records, billing, scheduling appointments, and patient follow-up.
- Due to increased investments from veterinary product manufacturers, coupled with the introduction of modern solutions, image software is anticipated to see lucrative CAGR in the following year.
- Most revenue shares in food-producing animals are attributed to increased market demand.
- The increase in the processing of animal foods would lead to substantial reductions in prices and help meet the rising worldwide demand for such food products. Furthermore, animal welfare organizations strive to achieve high food security.
- Due to the increasing number of animal owners in this area, the veterinary software market in North America is dominant.
- In June 2020, a leading provider of animal health technology solutions for pets, the Trupanion, and the Vetter Software announced an association between the cloud-based veterinary practice management software of Vetter Software and Trupanion’s proprietary patented software that enables direct payment on check-out for the veterinarian.
- Key players in the market include IDEXX Laboratories, Inc., Hippo Manager Software, Inc., VetZ Limited, Esaote SpA, Henry Schein, Inc., Patterson Companies, Inc., ClienTrax, Onward Systems, Inc., VIA Information Systems, and eVetPractice, among others.
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For the purpose of this report, Reports and Data has segmented the Global Veterinary Software Market on the basis of product, delivery mode, practice type, end-use, and region:
Product Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Practice Management Software
- Imaging Software
Delivery Mode Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- On-premise
- Cloud/Web-Based
Practice Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Small Animals
- Mixed Animals
- Equine
- Food-producing Animals
- Others
End-Use Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Hospitals/Clinics
- Reference Laboratories
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Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Benelux
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
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