China Companion Animal Health Market

SKU: DMVH593 | Last Updated On: Aug 30 2022 | Available Formats

> China Companion Animal Health Market Expected to reach at a high CAGR of 6.50% By 2029: DataM Intelligence.

China Companion Animal Health Market is segmented By Product (Vaccines, Anti-Infectives, Medicinal Feed Additives, Parasiticides, Diagnostics, Others), By Animals (Cats, Dogs, Equine, Others), By End User (Veterinary Hospitals & Clinics, Homecare, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share Outlook, and Opportunity Analysis, 2022-2029

China companion animal health market size was valued at USD 3,913.3 million in 2021 and is estimated to reach USD million by 2029, growing at a CAGR of 6.5% during the forecast period (2022-2029). Companion animals are domesticated or domestic-bred animals whose physical, emotional, behavioral, and social needs can be readily met as companions in the home or in a close daily relationship with humans. The companion animal health market mainly comprises medicines, medicinal feed additives, and vaccines and caters to both foods producing and companion animals.

China Companion Animal Health Market Growth Dynamics

The China companion animal health market growth is driven by the growing popularity of owning pets in China represents a cultural shift. China’s pet ownership is booming as 24% of the population owns dogs and 12% of the population owns cats.

An increase in pet adoption, mostly by nuclear families drives the market growth  

The popular nuclear family trend across the country has accelerated pet ownership and is expected to continue during the forecast period. The trend of imbuing pets with human characteristics has increased the health and safety concerns among pet owners. This increase is a result of the growing human-animal bond, which defines consumers’ willingness to spend more money on their pets. In China, a large proportion of people have a companion animal in their home of which 25 percent of people have a pet dog and 10 percent have a cat. Many pet owners in China own more the one companion animal. The pet industry in China is booming and the growth rates in the region are comparable to the other developed countries. Hence, the increase in pet adoption has helped in driving the companion health market.​ With the increase in the number of companion animals, owners are becoming increasingly aware of their pet’s health and nutrition, and are also seeking veterinary services. This, in turn, is creating a growing demand for diversified forms of companion animal healthcare products. Furthermore, there are also increasing initiatives by the government and animal welfare association for creating awareness about the various disease against companion animals which will augment the growth of the market as awareness can prevent various animal-related diseases. ​

These organizations are involved in issuing guidelines for promoting veterinary health, which is expected to contribute to China's companion animal health market growth over the forecast period. For instance, OIE International Standards, a part of the WTO framework, issue standards to improve pet care and to promote the international trade of veterinary products.  ​In addition, the growing investments by key market players to develop advanced solutions for pet care is also one of the key contributors to the growth of the china companion animal health market.​

The use of counterfeit medicines in the country will hamper the growth of the market  

However, The availability of a considerable number of counterfeit animal drugs in the market, including a number of fake or copied companion animal drugs is identified as an obstruction to the growth of the market for genuine animal drug products.

These drugs are found to be unsafe and ineffective are found to be harmful to the health and well-being of pets and may affect a large section of the pet population. ​This is likely to hamper the market growth over the forecast period. Counterfeit products continue to be sold illegally, and research showed that 87% of shoppers purchased pet parasite prevention products from unaccredited sites that have been known to sell counterfeit pet medicines.

However, purchasing counterfeit medicine can cause serious health risks to pets, and potentially the families that look after them. Unsurprisingly, of those pet owners who felt they had been duped by counterfeit goods, 42 percent felt worried and 38 percent upset. For instance, rabies is spreading to areas beyond the traditional rabies hotspot in south China, where five provinces account for 60% of human infections despite the vaccination of dogs in the region.

The mismatch of data management systems often complexes the exchange of knowledge between the policymakers, the scientific community, and the animal health sector. This later might hamper the companion animal healthcare market growth.

China Companion Animal Health Market - Segmentation Analysis

The therapeutics segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)  

The China companion animal health market is segmented by Products into therapeutics and diagnostic. The therapeutics segment accounted for the largest market share in the forecast period owing to increasing cases of healthcare problems in companion animals and awareness of owners towards the availability of these products in commercial markets. The industrial development of China has uplifted its citizen's living standards. The popular nuclear family trend across the country has accelerated pet ownership and is expected to continue during the forecast period. The trend of imbuing pets with human characteristics has increased the health and safety concerns among pet owners. This increase is a result of the growing human-animal bond, which defines consumers’ willingness to spend more money on their pets.

In China, a large proportion of people have a companion animal in their home 25 percent of people have a pet dog and 10 percent have a cat. Many pet owners in China own more the one companion animal. For the past few years, prominent pharma players are emphasizing developing therapeutic products for companion animals. Moreover, the animal sector has witnessed technological advances and scientific innovations such as anti-neoplastic veterinary drugs and genomic tests among others

 

China Companion Animal Health Market Scope

Metrics

Details

Market CAGR

 6.50%

Segments Covered

By Product, By Animal, By End User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

COVID-19 Impact Analysis

Before the COVID-19 pandemic, a modest growth rate in the market was witnessed. But after the pandemic hit the market faced a worse impact. Many animals in Wuhan, the Chinese city that is the epicenter of the coronavirus outbreak, have died or are at risk of dying after residents evacuated their homes in the wake of the lockdown.

Vshine Animal Protection Association, China-based animal welfare and environmental organization that partners with Humane Society International, estimated that the number of dogs and cats left behind in apartments in Hubei cities is in the tens of thousands.

Members of the public are advised to differentiate that 'being infected' does not equal being infectious and capable of spreading the Covid-19 virus. Such fears have caused incidents of violence toward animals in China.

In another county in Zhejiang, a province with the most infections after Hubei, authorities warned dogs that are found in public would be exterminated, according to Reuters.

While the World Health Organization (WHO) has attempted to quash the false claims that animals can transmit the novel coronavirus, Chinese citizens in multiple cities have already begun to dispose of dogs and cats. A large population of companion animals is killed by their owners due to the misconception of the fear of spreading of COVI-19 virus.  Thus, the COVID-19 pandemic will have a worse impact on the China companion animal health market as people are afraid of there pets and killing them in large amounts.

China Companion Animal Health Market - Competitive Landscape

The China companion animal health market is a moderately competitive presence of local as well as global companies.  Some of the key players which are contributing to the growth of the market are Bayer AG, Elanco Animal Health, Vetoquinol SA, Zoetis Inc., Boehringer Ingelheim Group, MSD Animal Health China (Merck), China Animal Husbandry Co. Ltd., Dachang, Tianjin Ringpu, Jinyu Bio-Technology, Zhejiang Shenghua Biok Biology Co Ltd., Ceva Santé Animale, Virbac among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the China companion animal health market globally.

For instance, on July 27, 2020, Boehringer Ingelheim’s new product Aservo  EquiHaler was approved, becoming the industry’s first treatment for severe equine asthma. Aservo  EquiHaler  (ciclesonide inhalation solution) is the company's human pharmaceuticals and animal health business collaboration research and development results.

Bayer Healthcare  

Overview:

Bayer is a Life Science company with a more than 150-year history and core competencies in the areas of health care and agriculture. The Bayer Group is managed as a life science company with three divisions Pharmaceuticals, Consumer Health and Crop Science, which are also our reporting segments.    

Product Portfolio:

Advocate Spot On:  For dogs/cats suffering from, or risk from mixed parasite infection like ticks/flea infestation and GI infestation.

The China Companion Animal Health Market report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.

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