Market Research Report
China Companion Animal Health Market 2018-2025
|Published by||DataM Intelligence||Product code||745291|
|Published||Content info||100-120 Pages
Delivery time: 1-2 business days
|China Companion Animal Health Market 2018-2025|
|Published: September 1, 2018||Content info: 100-120 Pages||
China Companion Animal Health Market Overview
Companion animals are pets which are kept for protection of a person, company, property or residence. These animals help to avoid theft and render safe environment. Dog and cats are the most popular pets. Companion animals play an important role in the lives of many, providing a sense of belonging and responsibility. Animal health products, especially feeds are the most widely used products for animal healthcare.
China companion animal health market was worth USD XX million in 2017 and is forecasted to reach USD 1339.50 million by 2025, growing at a CAGR of XX% during the forecast period (2018-2025).
China Companion Animal Health Market - Market Dynamics
Pet ownership is on the rise in China, which has led to increased demand for veterinary care. Owners have become more conscious about the health and well-being of their pets. There are around 1.1 million animal clinics in China, 70% are family-run practices, and the rest are mostly small medical institutions. According to China's National Bureau of Statistics, China ranked third in the world in terms of ownership of pet dogs, at over 27 million. It is also second in global cat ownership, with 58.1 million cats reported. The two largest cities Shanghai and Beijing of China account for much of that pet ownership, with 24% of Shanghai's residents owning dogs and 11% owning cats. 25% of Beijing residents own dogs, while 8% own cats.
On the other side, The high cost of veterinary for animals and animal testing might be a barrier to the growth of the market. There are several restrictions and regulations on animal testing in China, which is hindering a number of healthcare companies from manufacturing newly advanced drugs. Also, because of the increasing regulations, animal testing is becoming expensive. The cost of veterinary medicines and products have also increased manifold in the recent years, which is making the animal ownership expensive and unfeasible for the middle-class.
China Companion Animal Health Market - Segment Analysis
China companion animal health market is categorized by various types of products such as Vaccines, Anti-Infectives, Medicinal Feed Additives, Parasiticides, Diagnostic and Others. Of these, paraciticides accounted for the largest market share of about in 2017. Demand for parasiticides is also on the rise because of an increase in flea and tick-infested Lyme disease in dogs and cats. Medicinal Feed Additives provide vital protection against disease-causing pathogen agents like bacteria, viruses, and fungi without involving the side-effects associated with vaccines and anti-infectives. The market is driven by the need for these products in tackling the increasing cases of healthcare problems in companion animals and awareness of owners towards the availability of these products in commercial markets.
China Companion Animal Health Market - Competitive Analysis
Chinese companion animal health market is fragmented with presence of many local and international players. However, Boehringer Ingelheim, Zoetis, Bayer Healthcare, MSD Animal Health (Merck), and Virbac holds major market share in the global companion animal health market. Elanco, Ceva Sante Animale, Ringpu, Bionik, and China Animal Healthcare Ltd. are the other prominent players in the market. Boehringer Ingelheim is the market leader with approximately 20% of the total market followed by Zeotis, Bayer Healthcare, and MSD Animal Health (Merck). Boehringer Ingelheim is became a market leader with the acquisition of Sanofi's animal-health business (Merial). The acquisition of Merial makes Boehringer Ingelheim the second-largest animal health company in the world. The U.S. animal-health market will be the largest for Boehringer Ingelheim, representing about 40% of annual sales.