Canada Veterinary Healthcare Market Size

Statistics for the 2023 & 2024 Canada Veterinary Healthcare market size, created by Mordor Intelligence™ Industry Reports. Canada Veterinary Healthcare size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Canada Veterinary Healthcare Industry

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Canada Veterinary Healthcare Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 2.78 Billion
Market Size (2029) USD 3.94 Billion
CAGR (2024 - 2029) 7.26 %
Market Concentration Medium

Major Players

Canada Veterinary Healthcare Market  Major Players

*Disclaimer: Major Players sorted in no particular order

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Canada Animal Health Care Market Analysis

The Canada Veterinary Healthcare Market size is estimated at USD 2.78 billion in 2024, and is expected to reach USD 3.94 billion by 2029, growing at a CAGR of 7.26% during the forecast period (2024-2029).

The COVID-19 pandemic had a significant impact on the market. Extensive information is available regarding animal coronavirus concerning its evolution and pathophysiology. According to the Government of Canada, in June 2022, different animal species tested positive for the virus that causes COVID-19 during the pandemic. Furthermore, according to the Canadian Food Inspection Agency, 2022, the COVID-19 pandemic was exacerbated by the intra-pandemic emergence of novel variants of concern (VOCs) and multiple ongoing outbreaks of highly pathogenic avian influenza (HPAI) in the country. The development, transmission, and impact of zoonotic illnesses are influenced by intersecting biological, ecological, and socioecological processes, which propel the market. However, post-pandemic pet care has increased in Canada. For instance, according to Canadian Animal Health Institute data updated in April 2022, between 2020-2022, the Canadian dog and cat populations continued to grow, increasing from 7.7 million to 7.9 million for dogs and 8.1 million to 8.5 million for cats. Furthermore, there is a 3% increase in the number of cats that visited a veterinary clinic in the previous 12 months, from 58% in 2020 to 61% in 2022. Thus, the increase in veterinary clinic visits is expected to drive the market during the forecast period.

The Canadian veterinary healthcare market is primarily driven by increasing animal adoption, the rising burden of animal diseases, and increased spending on animal health. For instance, according to an article published by Osler, Hoskin & Harcourt LLP, in June 2021, 18% of Canadian pet owners acquired their companion during the pandemic. The Canadian population has high levels of awareness regarding companion animals and livestock, resulting in the increasing adoption of these animals for social well-being and a healthy lifestyle, eventually driving the market's growth.

In addition, there has been increasing demand for analgesics, antibiotics, anti-inflammatory drugs, and anesthetics, followed by biologics and vaccines for veterinary services such as dogs and cats. According to MDPI, in September 2022, increased use of Tri-Solfen with NSAIDs significantly reduces pain and suffering in livestock, with enhanced healing of FMD lesions, reduced viral loads from Orf infections in lambs, and diminished necessity of 'antibiotic cover,' assisting antimicrobial-resistance (AMR) stewardship. The increased demand and advantage
of biologics and vaccines for veterinary services are supposed to drive the market.

Thus, the abovementioned factors are impacting the market growth of the Canada Veterinary Healthcare systems market. However, counterfeit medicines and the high costs of animal testing and veterinary services are expected to restrain the market growth.

Canada Animal Health Care Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)