China Companion Animal Health Market, By Type (Stainless Steel Bellows, High Nickel Alloys, and Others), By Application (High Vacuum Seals, Leak-Free Motion Feedthroughs, Flexible Joints, Volume Compensators, and Pressure & Temperature Actuators), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029

 

The expanding companion animal population, pet humanization, animal disease incidence, and significant company initiatives are the main drivers of market growth in the country. Boehringer Ingelheim, for example, got clearance from China's Ministry of Agriculture and Rural Affairs in May 2021 for GastroGard, a horse-specific medication. Boehringer Ingelheim became the first global animal health company to have an equestrian business in China as a result of this. The impact of the COVID-19 epidemic on the market was mixed. For certain market actors, the negative consequences of mobility limitations and logistical challenges resulted in poor demand and sales. In China, supply disruptions and veterinary medicine shortages have been reported, owing to temporary lockdowns of manufacturing sites, export bans, and increased demand for treatment to treat COVID-19. During the COVID-19 outbreak, there was a minor short-term detrimental impact on companion animal healthcare, owing to fewer veterinary visits and a scarcity of veterinary drugs. The increased popularity of pet ownership, rising spending on animal healthcare, and rising awareness of the different therapies available for companion animal diseases are driving the China companion health industry. The China Companion Animal Health Market accounted for US$ 965.34 million in 2020 and is estimated to be US$ 2871.33 million by 2030 and is anticipated to register a CAGR of 11.50%.

Rising Chinese government initiatives

In the near future, the market is expected to be driven by rising Chinese government initiatives to promote veterinary care goods. Initiatives like the 'One Health Initiative,' which aims to improve animal healthcare standards, have boosted the country's market growth potential. Several collaborative programmes are bringing together clinical care, disease control, disease surveillance, education, and research to better manage epidemic diseases. For example, Shandong University authorised a request to establish an Ecohealth/One Health Institute in China in August 2018. This new centre will bring together Chinese and international professionals to collaborate on a variety of veterinary and environmental health issues in order to address China's large and complicated health issues.

The most significant impediment to the market expansion is the high expense of animal testing. Furthermore, various constraints and laws on animal testing have rendered the establishment of a new advanced pharmaceuticals manufacturing facility for companion animals in China prohibitively expensive for several healthcare organisations. In recent years, the cost of veterinary medicines and products has also risen dramatically, making animal ownership too expensive for the middle class. Furthermore, the Chinese veterinary services market is uncontrolled and lacks standards. As a result, pet owners must pay a high premium for veterinary services, thereby restricting the animal health companion market in China.

 

Source: Prophecy Market Insights |Disclaimer: Data is only a representation. Actual data may vary in the final report.

The China companion animal health market is segmented based on product and animal type. Based on product, the target market is segmented into therapeutics and diagnostics. Therapeutics is further segmented into vaccines, parasiticides, anti-infectives, medicinal feed additives, and other therapeutics. Whereas, diagnostics is sub segmented into immunodiagnostic  tests, molecular diagnostics, diagnostic imaging, and other diagnostics. Based on animal type, the target market is segmented into dogs & cats, horses, and other companion animals.

Regional Insights:

China Companion Animal Health Market accounted for US$ 965.34 million in 2020 and is estimated to be US$ 2871.33 million by 2030 and is anticipated to register a CAGR of 11.50%.

The Veterinary Specialty Hospital of Hong Kong offers a variety of services, including imaging and diagnostics. MRI, CT, radiography, ultrasound, and endoscopy are examples of these. According to a Xinhuanet.com storey from October 2021, China had around 12,000 pet hospitals and an increasing number of students were interested in veterinary medicine. In the next years, this is expected to increase demand for pet medicine and diagnostic products.

Attribute	Details
Base year for estimation	2020
Forecast period	2020 – 2029
Market representation	Revenue in USD Million & CAGR from 2020 – 2029
Market Segmentation	By Product Type - Therapeutics And Diagnostics By Animal Type – Dogs & Cats, Horses, And Other Companion Animals
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

 

 

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the China Companion Animal Health Market report based on Product Type, Animal Type and Region.

China Companion Animal Health Market, By Region:

 

• North America
  • • • • U.S.
        • Canada
    • Europe
      • • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • • GCC
        • Israel
        • South Africa

• • • • • Rest of Middle East & Africa

The key players operating in the China Companion Animal Health Market includes Boehringer Ingelheim, Zoetis, Bayer Healthcare, MSD Animal Health (Merck), and Virbac. One of the most important participants in the animal health sector, Boehringer Ingelheim, is improving market competitiveness through innovation. In April 2019, Boehringer Ingelheim announced Arti-Cell Forte, the first-ever registered Stem Cell-Based Veterinary Medicine in Europe, for the treatment of mild to moderate recurring lameness in horses caused by non-septic joint inflammation.

• Bayer AG
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• Elanco Animal Health
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

•   Merck & Co.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
•   Virbac
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Zoetis Inc.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

Table of Contents

1. Research Objective and Assumption
   • Preface
   • Research Objectives
   • Assumptions
   • Abbreviations
2. Market Purview
   • Report Description
     • Market Definition and Scope
   • Executive Summary
     • Market Snippet, By Products
     • Market Snippet, By Animal Type
   • Opportunity Map Analysis
3. Market Dynamics, Regulations, and Trends Analysis
   • Market Dynamics
     • Drivers
     • Restraints
     • Market Opportunities
     • Market Trends
   • DR Impact Analysis
   • PEST Analysis
   • Porter’s Five Forces Analysis
   • Opportunity Orbit
   • Market Investment Feasibility Index
   • Macroeconomic Factor Analysis
4. China Companion Animal Health Market, By Products, 2019 – 2029, (US$ Mn)
   • Overview
     • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
     • Y-o-Y Growth Analysis (%), 2019 – 2029
     • Segment Trends
   • Therapeutics
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
       • Vaccines
       • Parasiticides
       • Anti-Infectives
       • Medicinal Feed Additives
       • Other Therapeutics
   • Diagnostics
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
       • Immunodiagnostic Tests
       • Molecular Diagnostics
       • Diagnostic Imaging
       • Other Diagnostics
5. China Companion Animal Health Market, By Animal Type, 2019 – 2029, (US$ Mn)
   • Overview
     • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
     • Y-o-Y Growth Analysis (%), 2019 – 2029
     • Segment Trends
   • Dogs & Cats
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
   • Horses
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
   • Other Companion Animals
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
6. Competitive Landscape
   • Heat Map Analysis
   • Market Presence and Specificity Analysis
7. Company Profiles
   • • Bayer AG
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • Elanco Animal Health
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • Merck & Co.
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • Virbac
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • Zoetis Inc.
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
8. Section
   • Research Methodology
   • About Us
   • Contact