The veterinary healthcare market in Canada is expected to account for USD XX billion in 2021, at a CAGR of XX% from USD XX billion in 2016. The increase in exports of animal products from Canada to other countries of North America and Europe is the major opportunities for the market to grow.
The veterinary healthcare market by diagnostics may be defined as the diagnostic tests that are carried out for the detection of various diseases in animals. These processes are executed through various methods that use blood, feces, and tissue sample from animals.
Canada’s Veterinary Healthcare Market- Market Dynamics
Veterinary healthcare is gaining importance as a result of manufacturers focusing on the production of products with specialized formulations and manufacturing processes. These are essentially beneficial for animal lovers and companion animal owners.
There are several factors leading to the growth of the veterinary healthcare market in Canada. These include:
The rise in competition for cultivated land and scarcity of arable land are turning out to be restraints for this market.
Canada’s veterinary market can be broadly segmented based on animal types, products and diagnostic. Based on the animal type, the market is further segmented into farm animal health market (poultry, swine, fish, cattle and sheep) and companion animal health market (dogs, cats, horse). Based on diagnostic tools, the market is segmented into clinical chemistry, hematology tests, molecular diagnostics, diagnostic imaging and other veterinary diagnostic products. Based on the products, the market is segmented into vaccines, anti- infective, anti-parasitic, medical feed additives, and other pharmaceuticals.
Some of the key players in the market are:
Key Deliverables in the Study