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Nov 13, 2020 (Market Insight Reports) —
Canada Veterinary Healthcare Market – Growth, Trends, And Forecast (2020 – 2025)
Canada Veterinary Healthcare market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics have been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio, and recent developments. The Market share and Market size prominent players for 2020 to 2025 are profiled in this report.
Competitive Landscape
The Canadian veterinary healthcare market has rapidly evolved over the last few years. The industry observed significant mergers and acquisitions, in recent years. For instance, Ehave, Inc. which is dedicated to empowering the mental health community with next-generation digital solutions, is expanding its business into veterinary medicine in Canada in 2017. The company to license core informatics platform to Companion Healthcare Technologies, Inc. for improving the quality of care for pets. ? The major companies in the Canadian veterinary healthcare market include Bayer Healthcare, Boehringer Ingelheim, Ceva Animal Health Inc., Elanco (Eli Lilly and Company), Idexx Laboratories, Merck Animal Health, Virbac Corporation, Vitoquinol SA, and Zoetis Animal Healthcare, among others.
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Scope of the Report
Canada veterinary healthcare market is primarily driven by the increasing animal adoption, the rising burden of animal diseases coupled with an increase in spending on animal health. Canada has high increased awareness regarding companion animals and livestock, considering the increasing adoption of these animals for social well-being and a healthy lifestyle. The business is mainly driven by the rising ownerships, as well as the technological advancements in therapeutics and diagnostics.? According to the Canadian Animal Health Institute (CAHI), in 2018, there were 8.3 million cats and 8.2 million dogs in Canada. The same report has stated that at least 41{b5d304c96e94113bdfc523ff4218a1efff4746200bdb9eeb3214a56a1302f2e4} of households have at least one dog and 38{b5d304c96e94113bdfc523ff4218a1efff4746200bdb9eeb3214a56a1302f2e4} of the households have at least one cat.
Key Market Trends
The Vaccines Segment Dominates the Canada Veterinary Healthcare Market
– Vaccines comprise viruses, bacteria, or other disease-causing organisms that have been killed or attenuated so that they cannot cause further disease and can boost immunity.
– Veterinary biologics, like vaccines, are regulated by the Canadian Food Inspection Agency, to ensure that the products used on animals in Canada are pure, potent, safe, and effective. The import of veterinary vaccines to Canada needs a valid import permit, issued by the CFIA-CCVB in Ottawa.
– In some parts of Canada, it is mandatory to vaccinate every cat and dog, where there are high risks of rabies. According to the veterinary community of Canada, every dog should be vaccinated with core vaccines.
– Furthermore, several initiatives have been undertaken by Canada. For instance, a public awareness campaign was organized in September 2018, by the Canadian Veterinary Medical Association (CVMA), hosted by veterinarians, to showcase the importance of vaccines.
– Morover, recent advancements and availability of vaccines, new product launches projected to fuel the sgemnet growth over the forecast period.
– In January 2019, Hipra Canada launched VEPURED, the latest vaccine to control edema disease in its clinical and subclinical form. Thus, the market for veterinary healthcare in Canada projected to grow over forecast period.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: Canada Veterinary Healthcare Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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