The top line investments are in Artificial Intelligence, Blockchain, Cloud Technology And Clinical Practice Management. This is a review of the Main Tech Solutions For Veterinary Medicine.
According to Grand View Research, the world market of veterinary software reached $ 322.8 million in 2016, and by 2025 it is projected to reach $ 699.0 million. With this forecast, the total annual growth rate of IT solutions for veterinary medicine will be 8.9% per year.
American Veterinary Medical Association estimates that there are 68 000 private veterinary practitioners in the USA, and 22 000 in the UK. Competition between private practitioners and the growth of zoonotic diseases (avian influenza, bird salmonella, toxoplasmosis, leptospirosis, campylobacteriosis, and SARS) will increase the demand for innovation in veterinary medicine.
Leading veterinary software developers are IDEXX Laboratories, Patterson Companies, Henry Schein, Hippo Manager Software, VetZ Limited, Esaote SpA, ClienTrax, Onward Systems, and VIA information systems. Market participants have completely occupied the sectors of clinic management and radiological information systems.
Blockchain, telemedicine and AI are transforming the market and creating new players.
- Telemedicine sector is represented by American start-up Fuzzy Pet and Canadian service Healthy Pets
- Healthytail – distributed storage of animal-related data
- Estonian project Petlife by Telemedicine OÜ brings together blockchain and telemedicine in the clinical protocols and electronic medical record. Release of an AI-based clinical assistant is planned for 2019.
IDEXX Laboratories – the manufacturer of laboratory equipment, reagents and expendable equipment for veterinary medicine – in 2014 acquired all the issued shares of the Dutch company Animana BV. After that the IDEXX Animana solution was presented on the market – cloud software for managing laboratory clinical practice. IDEXX Animana integrates with hematological analyzers as an information laboratory system, uploads a research protocol to the cloud server and automatically stores it in an electronic medical record. In order to ensure high efficiency of the practice, integration with IDEXX Reference Labs is necessary.
On June 25, 2018, a distributor of dental and veterinary products, technologies and services introduced a joint development with Cure Partners – NaVetor, a new cloud-based practice management software. NaVetor is a panel for quick viewing of important information, a consultations schedule, electronic medical records with prescriptions, an account manager, reports, a module of training and inventory.
A tech company from Lexington operates the information solution for veterinary practice – Hippo Manager. Hippo Manager is a cloud solution with a focus on private practitioners who do not have a budget for a large staff of IT professionals. The cost of a monthly subscription is $ 80. For this price a veterinarian will be able to schedule consultations, monitor departments, generate bills, manage storages, communicate with customers and receive e-mails. “Hippo Manager – A to Z solution for veterinarians”, – Sam Razor, co-founder of Hippo Manager Software Inc.
One of the leading providers of software for clinic management, web applications and digital X-ray systems in veterinary medicine. The image management software is used by veterinarians around the world.
Manufacturer of medical diagnostic systems and the world leader in the field of specialized MRI. Esaote holding is also one of the main players in the sector of specialized technologies for healthcare. Esaote develops products and solutions for non-invasive diagnostics – ultrasound, MRI and IT products for healthcare.
Provider of financial services in the veterinary industry. The ClienTrax software allows you to manage veterinary practice with powerful functions that can greatly enhance the efficiency and productivity of your practice.
Blockchain, telemedicine and AI are transforming the market and creating new players:
Fuzzy – telemedicine platform where pet owners receive veterinary services in real time.
FirstVet – mobile app and web platform that provides consultation and video conferencing services for pet owners.
Healthytail – distributed storage of pet-related data. Healthytail is developed on the blockchain to exchange data between doctors, pet owners and insurance companies.
Estonian project Petlife by Telemedicine OÜ brings together blockchain and telemedicine to implement clinical protocols and medical record. Release of an AI-based clinical assistant is planned for 2019.
According to BIS Research, introduction of new technologies in healthcare will grow from 2018 to 2025. It will lead to an increase in the telehealth market. By 2020 the market volume is projected to reach $36 billion. By 2015 the total volume of international digital healthcare market will reach $80 billion. By 2020 it will reach $200 billion with projected annual growth of 21%.