China Companion Animal Health will grow at a CAGR of 6.5% during 2022-2029
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China Companion Animal Market Overview :
The China companion animal health market is expected to be valued at USD 567.28 million in 2020 and reach USD 1102.25 million by 2026, registering a CAGR of 11.71% during the forecast period 2021-2026.
The recent rise in pet ownership in China has led to increased spending on pet health care and the market is driven by increasing awareness of the various treatments available for companion animal diseases.
In recent times, animal adoptions in China have skyrocketed, with most dogs and cats being adopted because they are humans' favorite companions, according to data from the 2019 China Pet Industry Report by online pet forum goumin.com. With nearly 99.15 million dogs and cats adopted as pets in the country, dog and cat owners spent 202 billion yuan (29 billion US dollars) in 2019, an 18.5 percent increase from the previous year. With the growing animal population in the country, the market indicates a high demand for vaccination to maintain the optimal health of companion animals. The pet industry in China is booming and the fastest growing in China compared to other countries, the country's high adoption of pets is leading the way to drive the companion health market.
With the increase in pet adoption in China, owners are becoming more aware of their pet's health and well-being and are increasingly demanding veterinary services, which is gradually increasing the demand for companion animal health services, thus setting up veterinary services in the market, increasing the demand in the market, and the market is expected to benefit economically. It is estimated that in addition to this the government will create awareness about various diseases against companion animals which will increase the market growth as awareness can prevent various animal related diseases.
China Companion Animal Market Scope of the Report:
A surge in animal adoptions in China has fueled demand for vaccines and diagnostic tests to prevent animal diseases, which is fueled by the health-related needs of cats and dogs. In China, some airspaces have been established for these companion animal health market products (segmented by therapeutics (vaccines, parasites, anti-infectives, medicinal feed additives and other therapeutics) and diagnostics (immunodiagnostic tests, molecular diagnostics, diagnostics and other diagnostics) and cats, horses and other companion animals). The report provides value in USD millions for the above mentioned segments.
Vaccinations are an important part of health care for companion animals in China. The owners of adopted animals are educated on what kind of vaccines should be given to animals which are classified as core vaccines and non-core vaccines. Core vaccines are mandatory for all companion animals, but non-core vaccines are prescribed by lifestyle of the companion animal or based on geographic region. Newly discovered vaccines to prevent new diseases in China.
The Chinese government requires all dogs and cats to be vaccinated against rabies every year. Animal vaccinations have increased awareness in China about the health of dogs and cats this year. In the year 2017, more than 3,500 cats and dogs were treated for various ailments. Thus, animal welfare programs in China have saved many animals' lives from disease, These organizations focus on protecting the health of animals and saving their lives.?
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China Companion Animal Market Competitve Landscape :
Leading global companies have partnered with Chinese companies for their distribution in the country. The Chinese government has set up many health centers for animal health care. Some companies have partnered with China for market delivery, namely Meili Omni-Honesty, a leading global pharmaceutical company, Boehringer Ingelheim, and the world's second largest animal health company, Beijing KangMu Omni-Honesty Animal Health Products Co. Ltd, a joint venture, was established in 2018 to develop In addition to these, a few other companies are involved in the delivery of novel veterinary drugs. Among the key market players in the market are China Animal Husbandry Co. Ltd., Dachang, Elanco Animal Health, Merck & Co., Vetoquinol SA, Vibram and Zoetis Inc., etc.
Some of the major countries covered in the global report such as the United States, Canada, Brazil, Germany, Italy, Spain, United Kingdom, Russia, European countries, United Arab Emirates, Saudi Arabia, South Africa, Japan, China, India, South Korea, Australia, and rest of the countries over the globe.?
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China Companion Animal Market Segmentation:
By Product
By Animals
By End User
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