China Veterinary Healthcare Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

China Veterinary Healthcare Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The China veterinary healthcare Market studied was anticipated to grow with a CAGR of nearly 6% during the forecast period. The risk from zoonotic diseases and the growing consumption of meat, pork, and beef are the major factors fuelling the growth of the Chinese veterinary healthcare market. Inter-governmental organizations and food production agencies are making reforms to ensure proper health, by the process of surveillance and vaccination and by investing in R&D. CAHG is one of the two subsidiaries of China National Agricultural Development Group Corporation (CNADGC), under the governance of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), the People’s Republic of China (PRC). Additionally, advanced technology, leading to innovations in animal healthcare, is also a factor that is responsible for the growth of the Chinese veterinary healthcare market. However, the growing trend of counterfeit prescription pharmaceuticals and the lack of skilled veterinarians are a few factors that are hampering the growth of the Chinese veterinary healthcare market.

Key Market TrendsThe Dogs and Cats Segment Dominates the China Veterinary Healthcare Market

• The Chinese veterinary health products for dogs and cats are gaining positive recognition across the industry. The increased adoption of dogs and cats in China is the major driving factor for the market.
• There has also been an increased awareness about animal vaccinations and the overall health of dogs and cats, in recent years, in China. In 2017, in China, more than 3,500 cats and dogs were rescued from various diseases, primarily through animal welfare programs, funded by the Animals Asia Foundation. The animals were rescued and vaccinated efficiently. Thus, these organizations are focusing on protecting the animals’ health as well as saving their lives.
• Furthermore, company expansions, the launch of new products are projected to propel the market growth over the forecast period. For instance, in 2018, Zoetis expanded animal vaccine R&D in China to target the prevalent diseases in the country. The company is expecting that such vaccines will ultimately become a vital health management tool within this industry.

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Competitive Landscape

The China veterinary healthcare market is highly competitive. Over the recent years, multinational pharmaceutical enterprises began to realize that China provides great opportunities in the animal health sector, where the emergence of new diseases among pigs, new government policies to improve food safety, and the overall development of the pig industry point toward the future growth of the country's veterinary healthcare market. For instance, in January 2019, Boehringer Ingelheim launched its swine vaccine, Ingelvac PRRS MLV, produced by its veterinary vaccine manufacturing plant, in China Medical City in Taizhou, Jiangsu Province. This vaccine is now officially supplied to the Chinese markets.

The key market players operating in China veterinary healthcare market are Zoetis Inc, Vetoquinol SA, Ceva Sante Animale, Boehringer Ingelheim and Elanco among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Ceva Sante Animale
Boehringer Ingelheim GMBH
Elanco Animal Health Incorporated
Merck & Co., Inc.
Vetoquinol SA
Virbac Corporation
Zoetis Inc

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