Canada Veterinary Medicine Market Size & Outlook
Canada veterinary medicine market, 2018-2030 (US$M)
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Canada veterinary medicine market highlights
- The Canada veterinary medicine market generated a revenue of USD 1,638.3 million in 2023 and is expected to reach USD 2,919.6 million by 2030.
- The Canada market is expected to grow at a CAGR of 8.6% from 2024 to 2030.
- In terms of segment, pharmaceuticals was the largest revenue generating product in 2023.
- Biologics is the most lucrative product segment registering the fastest growth during the forecast period.
Veterinary medicine market data book summary
| Market revenue in 2023 | USD 1,638.3 million |
| Market revenue in 2030 | USD 2,919.6 million |
| Growth rate | 8.6% (CAGR from 2023 to 2030) |
| Largest segment | Pharmaceuticals |
| Fastest growing segment | Biologics |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Biologics, Pharmaceuticals, Medicated Feed Additives |
| Key market players worldwide | Zoetis Inc Class A, Boehringer Ingelheim, Merck & Co Inc, Elanco Animal Health Inc, Dechra Pharmaceuticals, Ceva Santé Animale, Phibro Animal Health Corp Class A, Virbac SA, Bimeda Ireland, Biogenesis Bago |
Other key industry trends
- In terms of revenue, Canada accounted for 3.5% of the global veterinary medicine market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. veterinary medicine market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 2,919.6 million by 2030.
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Veterinary Medicine Market Scope
Veterinary Medicine Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada veterinary medicine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to veterinary medicine market will help companies and investors design strategic landscapes.
Pharmaceuticals was the largest segment with a revenue share of 67.22% in 2023. Horizon Databook has segmented the Canada veterinary medicine market based on biologics, pharmaceuticals, medicated feed additives covering the revenue growth of each sub-segment from 2018 to 2030.
The Canada veterinary medicine market has shown strong growth over the last few years due to the high pet population, rising incidence of pet diseases, increasing number of local veterinary practices, presence of high-quality veterinary services, and growing number of veterinarians in the southern region, such as British Columbia & Ontario.
Besides, rising awareness of livestock diseases has created a strong demand for veterinary treatment in hospitals & clinics. For instance, Ontario has approximately 5,247 veterinarians, followed by 1,650 in British Columbia. Veterinarians can choose from a wide selection of vaccines designed to help prevent or lower the severity of diseases that threaten animals.
Every vaccine marketed for sale in the country must be licensed by the Canadian Food Inspection Agency with the Canadian Centre for Veterinary Biologics. Furthermore, manufacturers with FDA clearance in the U.S. have easy access to the Canadian market.
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Our clientele includes a mix of veterinary medicine market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada veterinary medicine market , including forecasts for subscribers. This country databook contains high-level insights into Canada veterinary medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada veterinary medicine market size, by product, 2018-2030 (US$M)
Canada Veterinary Medicine Market Outlook Share, 2023 & 2030 (US$M)
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