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China Companion Animal Health Market Research Report 2028 - Market Size and Forecast
China Companion Animal Health Market - DataM intelligence
China Companion Animal Health Market is estimated to reach a high CAGR of 6.5% by 2029
Companion animals are domesticated or domestic-bred animals whose physical, emotional, behavioral, and social needs can be readily met as companions in the home or in a close daily relationship with humans. The companion animal health market mainly comprises medicines, medicinal feed additives, and vaccines and caters to both foods producing and companion animals.
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Market Dynamics:
The use of counterfeit medicines in the country will hamper the growth of the market
However, The availability of a considerable number of counterfeit animal drugs in the market, including a number of fake or copied companion animal drugs is identified as an obstruction to the growth of the market for genuine animal drug products.
These drugs are found to be unsafe and ineffective are found to be harmful to the health and well-being of pets and may affect a large section of the pet population. This is likely to hamper the market growth over the forecast period. Counterfeit products continue to be sold illegally, and research showed that 87% of shoppers purchased pet parasite prevention products from unaccredited sites that have been known to sell counterfeit pet medicines.
However, purchasing counterfeit medicine can cause serious health risks to pets, and potentially the families that look after them. Unsurprisingly, of those pet owners who felt they had been duped by counterfeit goods, 42 percent felt worried and 38 percent upset. For instance, rabies is spreading to areas beyond the traditional rabies hotspot in south China, where five provinces account for 60% of human infections despite the vaccination of dogs in the region.
The mismatch of data management systems often complexes the exchange of knowledge between the policymakers, the scientific community, and the animal health sector. This later might hamper the companion animal healthcare market growth.
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Market Segmentation:
By Product
• Therapeutics
• Diagnostics
By Animals
• Dogs
• Cats
• Horses
By End User
• Veterinary Hospitals & Clinics
• Homecare
Major Companies:
Elanco Animal Health, Vetoquinol SA, Zoetis Inc., Boehringer Ingelheim Group, MSD Animal Health China (Merck), China Animal Husbandry Co. Ltd., Dachang, Tianjin Ringpu, Jinyu Bio-Technology, Zhejiang Shenghua Biok Biology Co Ltd., Ceva Santé Animale, Virbac.
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