The report "Veterinary Software Market by Product (Practice Management, Imaging, BI, Marketing), Delivery Model (On Premise, Cloud), Practice (Small Animal, Mixed, Large, Equine, Bovine), End User (Hospitals, Clinics, ASC, Emergency) - Global Forecasts To 2022", is projected to reach USD 594 million by 2022 from USD 442 million in 2017, at a CAGR of 6.1%.
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Veterinary practice management software segment dominated the market in 2017
Based on product, the veterinary software market is segmented into veterinary practice management software, veterinary imaging software, and other software. The veterinary practice management software segment accounted for the largest share of the market in 2017. The demand for this software is higher among veterinarians as it helps reduce the possibilities of errors and improve the cost-efficiency of operations.
Exclusive small animal practices segment dominated the veterinary software market, by practice type, in 2017
Based on practice type, the veterinary software market is segmented into exclusive small animal practices, mixed animal practices, and exclusive large animal practices. The exclusive small animal practices segment dominated the market in 2017 and is estimated to grow at the highest CAGR during the forecast period. This can primarily be attributed to the increasing companion animal population and the rising annual spending on pet care in developed countries.
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Henry Schein (US), IDEXX Laboratories (US), Patterson Companies (US), Vetter Software (US), Animal Intelligence Software (US), Timeless Veterinary Systems (Canada), Brittons Wise Computers (US), ezyVet Limited (New Zealand), FirmCloud Corporation (US), MedaNext (US), OR Technology (Oehm Und Rehbein GmbH, Germany), VIA Information Systems (US), Hippo Manager Software (US), Finnish Net Solutions (Finland), Carestream (Canada), and ClienTrax (US).
Henry Schein led the global veterinary practice management software market in 2016 with a market share of 36.5%. The leading position of the company can be attributed to its exhaustive product portfolio and strong geographic presence. Additionally, Henry Schein is a well-established company and one of the leading brand names in the animal health market. The company has an established customer base of over 1 million spread across 33 countries, which gives it a competitive edge in the market. The company focuses on inorganic growth strategies to enhance its market position, such as acquisitions that allow it to access the capabilities of complementary businesses and expand geographically. Some examples of the company’s acquisitions are eVetPractice (2017), RxWorks (2016), and Vetstreet (2016).
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