Canada Animal Healthcare Market Insights Forecasts to 2033

• The Canada Animal Healthcare Market Size was valued at USD 2.65 Billion in 2023.
• The Market Size is Growing at a CAGR of 6.87% from 2023 to 2033
• The Canada Animal Healthcare Market Size is Expected to reach USD 5.15 Billion by 2033

The Canada Animal Healthcare Market Size is anticipated to Exceed USD 5.15 Billion by 2033, Growing at a CAGR of 6.87% from 2023 to 2033. The increasing ownership of pet animals, advanced technology & innovation in animal healthcare, and the risk of emerging zoonosis are driving the growth of the animal healthcare market in Canada.  

Market Overview

Animal healthcare refers to the healthcare of animals. Animal healthcare aims to prevent, diagnose, treat, and manage animal diseases, injuries, and other medical conditions in animal species. Enhancing animals' quality of life, promoting their longevity, stopping the spread of disease, and safeguarding public health are the primary goals of animal healthcare. Over 60% of Canadian homes own at least one dog or cat, according to the Canadian Animal Health Institute's (CAHI) Pet Population Survey. Pet adoption owing to the benefits such as emotional support, companionship, and physical and mental health improvement is anticipated to drive the demand for animal healthcare. Technological advancements and emerging technologies are facilitating patient care, therapy development, and animal diagnostic accuracy. Further, AI-powered diagnostic tools have improved patient outcomes by assisting veterinarians in accurately diagnosing illnesses.

Report Coverage

This research report categorizes the market for the Canada animal healthcare market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada animal healthcare market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Canada animal healthcare market.

Driving Factors

In Canada, the overall number of pets has been rising gradually. By 2025, there would be more than 28.5 million, up from 27.47 million in 2016 and 28.05 million in 2021. The increasing ownership of pet animals in the country is driving the market demand. The investment by the animal health industry in encouraging innovation and technological advancements for animal health and welfare is propelling the market growth. The emerging vector-borne diseases among the animals occurring in the country are significantly driving the Canada animal healthcare market.

Restraining Factors

The problem associated with counterfeit pet medicines is restraining the market. Further, the high costs of animal testing & veterinary services are hindering the Canada animal healthcare market.

Market Segmentation

The Canada Animal Healthcare Market share is classified into product and animal type.

• The pharmaceuticals segment dominated the market with the largest market share in 2023.

The Canada animal healthcare market is segmented by product into biologics, pharmaceuticals, medicinal feed additives, diagnostics, equipment & disposables, and others. Among these, the pharmaceuticals segment dominated the market with the largest market share in 2023. There is an increasing R&D activities and manufacturing of medications for mitigating disease transmission from animals to humans. Further, the increased pet healthcare expenditure surges the demand for pet insurance, thereby driving the market growth.

• The dogs & cats segment is anticipated to grow at the fastest CAGR during the forecast period.

Based on the animal type, the Canada animal healthcare market is divided into dogs & cats, horses, ruminants, swine, poultry, and others. Among these, the dogs & cats segment is anticipated to grow at the fastest CAGR during the forecast period. As dogs are more prone to infections, injuries, genetic diseases, and age-related illnesses than other pets, dogs frequently need more frequent veterinarian care while cats have a high adoption rate as pets. These factors are driving the market demand in the dogs & cats segment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada animal healthcare market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Dechra Pharmaceuticals
• Boehringer Ingelheim
• Ceva Animal Health Inc.
• Idexx Laboratories
• Merck Animal Health
• Phibro Animal health
• Virbac Corporation
• Vetoquinol SA
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In November 2022, Juno Veterinary, a design-forward, tech-enabled pet health company debuts its first location in the Summerhill neighborhood as Toronto's only membership-based veterinary practice.

• In October 2022, the Canadian Animal Health Institute (CAHI) launched its brand new logo, embodying its vision of healthier animals for a healthier Canada.

Market Segment

This study forecasts revenue at Canada, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Canada Animal Healthcare Market based on the below-mentioned segments:

Canada Animal Healthcare Market, By Product

• Biologics
• Pharmaceuticals
• Medicinal Feed Additives
• Diagnostics
• Equipment & Disposables
• Others

Canada Animal Healthcare Market, By Animal Type

• Dogs & Cats
• Horses
• Ruminants
• Swine
• Poultry
• Others