The China Veterinary Healthcare Market size is estimated at USD 2.76 billion in 2024, and is expected to reach USD 4.43 billion by 2029, growing at a CAGR of 7.29% during the forecast period (2024-2029).
The COVID-19 has also impacted the market negatively during the pandemic. For instance, according to the study published on 'Effect of COVID-19 on animal breeding development in China and its countermeasures' in 'Animal Frontiers' in February 2021, during the COVID-19 outbreak, China's agricultural production has been severely affected and a significant amount of money was required for secure isolation and employee health management, causing some businesses to break the capital chain. This has led to a lack of proper nutrition in animals, which further leads to the probability of an increase of diseases in the animals due to lack of immunity, thereby driving the market growth.
Rising public organization initiatives in China on educating people about the adoption of stray animals are expected to drive the growth of the China Veterinary Healthcare market. For instance, in June 2021, Animal rights organizations in China have opened a new welfare center to educate the public about animals and encourage the adoption of stray animals, despite the fact that there are no laws in place to protect them. This will further expected to drive the growth in order to take care of stray animals, thereby expected to boost this market. Furthermore, the rise in pet adoption, advanced technology in animal healthcare, followed by rise in number of Government initiatives and initiatives from the animal welfare organizations are expected to drive the growth of this market in the forcast period.
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.
Furthermore, according to the news published in May 2020, Pet detective services are in high demand in China as the popularity of companion animals such as cats and dogs grows significantly. This will further lead to higher adoption of dog and cat veterinary healthcare services and is expected to drive the growth of this segment in China.
Moreover, technological advancements in pet health especially the dogs and cats in China is further expected to drive the growth of the segment in China. For instance, in Oct 2021, JD Health is expanding its telemedicine services to include dogs. JD Health and JD Pet had started "JD Pet Hospital," an O2O healthcare service platform that spans the entire lifespan of dogs, from disease prevention and diagnosis to comprehensive health management. The rising telehealth initiatives in veterinary health especially dogs and cats in China are further expected to drive the growth of this segment in China.
Therefore, factors such as increasing pet detective services and initiatives such as telehealth in veterinary medicine are expected to drive the growth of this segment in China.
This product will be delivered within 2 business days.
The COVID-19 has also impacted the market negatively during the pandemic. For instance, according to the study published on 'Effect of COVID-19 on animal breeding development in China and its countermeasures' in 'Animal Frontiers' in February 2021, during the COVID-19 outbreak, China's agricultural production has been severely affected and a significant amount of money was required for secure isolation and employee health management, causing some businesses to break the capital chain. This has led to a lack of proper nutrition in animals, which further leads to the probability of an increase of diseases in the animals due to lack of immunity, thereby driving the market growth.
Rising public organization initiatives in China on educating people about the adoption of stray animals are expected to drive the growth of the China Veterinary Healthcare market. For instance, in June 2021, Animal rights organizations in China have opened a new welfare center to educate the public about animals and encourage the adoption of stray animals, despite the fact that there are no laws in place to protect them. This will further expected to drive the growth in order to take care of stray animals, thereby expected to boost this market. Furthermore, the rise in pet adoption, advanced technology in animal healthcare, followed by rise in number of Government initiatives and initiatives from the animal welfare organizations are expected to drive the growth of this market in the forcast period.
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.
China Animal Healthcare Market Trends
The 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.Furthermore, according to the news published in May 2020, Pet detective services are in high demand in China as the popularity of companion animals such as cats and dogs grows significantly. This will further lead to higher adoption of dog and cat veterinary healthcare services and is expected to drive the growth of this segment in China.
Moreover, technological advancements in pet health especially the dogs and cats in China is further expected to drive the growth of the segment in China. For instance, in Oct 2021, JD Health is expanding its telemedicine services to include dogs. JD Health and JD Pet had started "JD Pet Hospital," an O2O healthcare service platform that spans the entire lifespan of dogs, from disease prevention and diagnosis to comprehensive health management. The rising telehealth initiatives in veterinary health especially dogs and cats in China are further expected to drive the growth of this segment in China.
Therefore, factors such as increasing pet detective services and initiatives such as telehealth in veterinary medicine are expected to drive the growth of this segment in China.
China Animal Healthcare Industry Overview
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. 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
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION (Market Size by Value - USD million)
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Ceva Sante Animale
- Boehringer Ingelheim GMBH
- Elanco Animal Health Incorporated
- Merck & Co., Inc.
- Vetoquinol SA
- Virbac Corporation
- Zoetis Inc
- China Animal Husbandry Co. Ltd
- BioChek BV
- Bayer AG
Methodology
LOADING...
