Canada Veterinary Healthcare Market - Segmented by Product (Therapeutics and Diagnostics), and Animal Type (Production Animals, and Companion Animals) - Growth, Trends, and Forecast (2018 - 2023)

Canada Veterinary Healthcare Market - Segmented by Product (Therapeutics and Diagnostics), and Animal Type (Production Animals, and Companion Animals) - Growth, Trends, and Forecast (2018 - 2023)

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Canada Veterinary Healthcare Market Overview

The Canada Veterinary Healthcare Market accounted for USD 847.37 million in 2017 and is expected to reach USD 1285.09 million by 2023 while witnessing a CAGR of 7.25% over the period of 2018-2023 (henceforth referred to as the forecast period). The veterinary healthcare market in Canada covers the animals’ medical products necessary for the farmers, veterinarians, and pet owners for keeping the animals healthy and promoting animals’ welfare.

Increase in Ownership of Pet Animals

The citizens of Canada prefer the ownership of pets, compared to other countries in similar geographic locations. As per Canadian Animal Health Institute (CAHI) in 2018 there is an estimated 8.8 million cats and 7.6 million dogs and in over a decade, cat and dog ownership have increased by about 10%. Approximately, 41% of Canadian households now include at least one dog, and similarly, around 37 % include at least one cat according to the same source. Furthermore, cats are more popular as pets than dogs, as according to the Canadian Animal Health Institute (CAHI) in 2017. From 2014 to 2016, cat and dog populations in Canada have risen with 8.8 million cats considered household pets in 2016, up from an estimated 7.0 million in 2014. Apart from these animals, birds, fishes, herptiles, and small mammals are also preferred by the Canadian citizens, as roughly 9 % of the Canadians were reported to own one of these as a pet. A 2017 survey that was commissioned by PetSmart Charities of Canada and conducted by Wakefield Research of Canada, showed that 93% of pet parents expressed that they had experienced at least one health benefit from their pet. These benefits are ranging from increased physical activity and weight loss to improved mood and decreased stress. Also, from the same survey showed that two-thirds of Canadian respondents selected adopting a pet would make them happier in the long run. Thus, all the factors and increased benefits of being a pet parent is likely to increase the growth of the market in Canada. Also, PetSmart Charities of Canada and 200 of their animal welfare partners across Canada has started national adoption weekend in 2018 across the country.

Use of Counterfeit Medicines

Illegal veterinary medicines include counterfeit, falsified, and unregistered products and unapproved parallel imports. They also include compounded pharmaceuticals and illegal autogenous vaccines when these products are not manufactured or used appropriately and according to regulations. The risks of illegal veterinary medicines are not only lack of efficacy and safety for animals given the products but also risks to human safety through food from animals treated with illegal veterinary medicines, less effective control of zoonotic infections and risks of increasing antimicrobial and anti-parasitic resistance. The availability of a considerable number of counterfeit animal drugs, including fake or copied companion animal drugs in the current market, can be identified as an obstruction to the growth of the market for genuine drug products. A study revealed in Canada, the losses from illegal veterinary medicines were approximately 10%. For the Animal Health industry as a whole, illegal veterinary medicines are a significant and growing problem. According to association Health for Animals in 2017, there are already significant problems with illegal veterinary medicines, for example, illegal compounded pharmaceuticals in Canada. The continuing rapid growth in online buying and selling of products (e-commerce) and a parallel growth in international trade especially of small packages, has created new opportunities for trade in illegal veterinary medicines which affect the growth of the market in Canada. Also, in a study published in the journal Illegal Veterinary Medicines in 2017, in Canada estimated that the losses from illegal veterinary medicines were approximately 10% which is developing a business risk for the major animal health companies arising from the potential for reputational damage by the presence of illegal veterinary medicines in the wider market. In Canada, the most important illegal veterinary medicines are for companion animals (equines, cats, dogs). Counterfeit, falsified, and unregistered illegal veterinary medicinal products, including bulk supplies, are a particular problem for companion animal parasiticides in Canada.

Market Segmentation Insights for the Canada Veterinary Healthcare Market

Insights on Therapeutics Segment

Under the Therapeutics segment, the largest market share in the current Canada Veterinary Healthcare Market is controlled by Anti-Infectives. The fastest growing sub-segment over the forecast period under the Therapeutics segment was estimated to be the Medical Feed Additives. The largest market share of Anti-Infectives in Canada Veterinary Healthcare Market is attributable to the increasing concern about antibiotic resistance in veterinary medicine, and introduction of new federal regulations by Health Canada’s Veterinary Drugs Directorate regarding veterinary oversight of antibiotics used in food animals, including those administered in feed or water is anticipated to have a positive impact on the market.

Insights on Diagnostics Segment

Under the Diagnostics segment, the largest market share in the current Canada Veterinary Healthcare Market is controlled by Diagnostic Imaging, while the fastest growing segment over the forecast period, and is expected to be the Immunodiagnostic Tests. The largest market share of Diagnostic Imaging, in the Diagnostics segment, is primarily due to the fact that zoos and national parks rely heavily on the sophisticated diagnostic imaging for prevention of illness in large animals. MRI scanning is one of the most advanced equipment used for veterinary diagnostic imaging. The most common diagnoses performed with the help of MRI are for brain tumours, strokes, spinal disk herniation, and others.

Key Developments in the Canada Veterinary Healthcare Market

  • June 2018: Elanco Animal Health Introduces New Respiratory PRRS Vaccine a modified-live respiratory vaccine, which is effective in the reduction of porcine reproductive and respiratory syndrome (PRRS), respiratory form, in piglets two weeks or older

Major companies include Bayer Healthcare, Boehringer Ingelheim, Ceva Animal Health, Inc., Elanco (Eli Lilly and Company), Idexx Laboratories, Merck Animal Health, Virbac Corporation, Vitoquinol S.A. and Zoetis Animal Healthcare, amongst others.

Canada Veterinary Healthcare Market Segmentation

Canada Veterinary Healthcare Market by Product Type

  • By Therapeutics
    • Vaccines
    • Parasiticides
    • Anti-Infectives
    • Medical Feed Additives
    • Other Therapeutics
  • By Diagnostics
    • Immunodiagnostic Tests
    • Molecular Diagnostics
    • Diagnostic Imaging
    • Clinical Chemistry
    • Other Diagnostics

Canada Veterinary Healthcare Market by Animal Type

  • Production Animals
    • Ruminants
    • Swine
    • Poultry
    • Others
  • Companion Animals
    • Dogs & Cats
    • Horse
    • Others

Country-Level Data Points Coverage and Deliverables for Canada Veterinary Healthcare Market

    

Canada Veterinary Healthcare Market Report Summary

Metrics

Details

Industry

Canada Veterinary Healthcare Market

Study Period

(2015 – 2023)

Growth Rate

7.25%

Segmentation Scope

Segmentation by Product includes Therapeutics (Vaccines, Parasiticides, Anti-Infectives, Medical Feed Additives, and Other Therapeutics), and Diagnostics (Immunodiagnostic Tests, Molecular Diagnostics, Diagnostic Imaging, Clinical Chemistry, and Other Diagnostics);

 

Segmentation by Animal Type includes Production Animals (Ruminants, Swine, Poultry, and Others), and Companion Animals (Dogs & Cats, Horses, and Others);

Regional Scope

Canada

Key Developments

•June 2018: Elanco Animal Health Introduces New Respiratory PRRS Vaccine a modified-live respiratory vaccine, which is effective in the reduction of porcine reproductive and respiratory syndrome (PRRS), respiratory form, in piglets two weeks or older

Companies Covered

Ceva Animal Health Inc., Elanco (Eli Lilly and Company), Idexx Laboratories, Merck Animal Health, Virbac Corporation, and Vitoquinol S.A, among others.

Report Offerings

Canada Veterinary Healthcare Market offers the latest trends, growth prospects, industry competitiveness, major players, a regional share of market and forecast to 2023.

Reasons to Purchase the Canada Veterinary Healthcare Market Report

  • Current and future of Canada Veterinary Healthcare Market outlook
  • Analysis of various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • The segment that is expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the market estimate sheet (in Excel)

Customization of the Canada Veterinary Healthcare Market Report

  • This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs

1. Introduction

                1.1 Market Definition

2. Research Methodology

3. Executive Summary

4. Key Inferences

5. Market Overview

                5.1 Current Market Scenario

                5.2 Porters Five Forces

                                5.2.1 Bargaining Power of Suppliers

                                5.2.2 Bargaining Power of Consumers

                                5.2.3 Threat of New Entrants

                                5.2.4 Threat of Substitute Product and Services

                                5.2.5 Competitive Rivalry Within the Industry

6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)

                6.1 Market Driver

                                6.1.1 Increase in Ownership of Pet Animals

                                6.1.2 Advanced Technology Leading to Innovations in Animal Healthcare

                                6.1.3 Risk of Emerging Zoonosis

                                6.1.4 Increase Awareness About Animal Health

                6.2 Market Restraint

                                6.2.1 Use of Counterfeit Medicines

                                6.2.2 Increasing Costs of Animal Testing And Veterinary Services

                6.3 Opportunities

                6.4 Challenges

7. Market Segmentation

                7.1 By Product Type

                                7.1.1 By Therapeutics

                                                7.1.1.1 Vaccines

                                                7.1.1.2 Parasiticides

                                                7.1.1.3 Anti-infectives

                                                7.1.1.4 Medical Feed Additives

                                                7.1.1.5 Others

                                7.1.2 By Diagnostics

                                                7.1.2.1 Immunodiagnostic Tests

                                                7.1.2.2 Molecular diagnostics

                                                7.1.2.3 Diagnostic Imaging

                                                7.1.2.4 Clinical Chemistry

                                                7.1.2.5 Others

                7.2 By Animal Type

                                7.2.1 Production animals

                                                7.2.1.1 Ruminants

                                                7.2.1.2 Swine

                                                7.2.1.3 Poultry

                                                7.2.1.4 Others

                                7.2.2 Companion Animals

                                                7.2.2.1 Dogs & Cats

                                                7.2.2.2 Horse

                                                7.2.2.3 Others

8. Company Profile and Competitive Landscape

             8.1 Bayer healthcare

8.2 Boehringer Ingelheim

8.3 Ceva Animal Health Inc.

8.4 Elanco (Eli Lilly and Company)

8.5 Idexx Laboratories

8.6 Merck Animal Health

8.7 Phibro Animal health

8.8 Virbac Corporation

8.9 Vetoquinol SA

8.10 Zoetis Animal healthcare

                **List Not Exhaustive

9. Future of the Market

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