The global veterinary software market is expected to reach USD 696.0 million by 2025, growing at a CAGR of 8.9%
Increase in prevalence of zoonotic diseases is a key market driver for the growth of this market. Rising prevalence has triggered the demand for animal health diagnostics & monitoring services, which is expected to drive the market growth over the forecast period.
The growing adoption of integrated software systems for diagnostics & treatment is anticipated to fuel the growth over the following years. Pet health information systems that enable real-time analysis of prevalence of diseases will help researchers develop therapeutics. The incorporation of these solutions in laboratories is another growth propeller for veterinary reference laboratories.
Moreover, zoonotic diseases pose a major public health burden, especially in tropical regions due to lack of funds and healthcare infrastructure. Increase in willingness to pay for animal healthcare is expected to fuel the adoption of animal health diagnostics and imaging software over the forecast period.
IDEXX Laboratories; Patterson Companies, Inc.; and Henry Schein, Inc. held the dominant revenue share of the industry owing to their wide regional presence and technologically advanced product offerings