China Companion Animal Health Market Global Report By 2030

China Companion Animal Health Market Overview:
The China Companion Animal Health Market was valued at US$ 1.6 billion in 2022, and by 2030, it is anticipated to develop at a profitable rate to reach US$ 3.7 billion. The projection period (2023-2030) calls for a CAGR of 11.4% for the China companion animal health market. Due to the rising prevalence of infectious diseases and increased research and development, the trends in the companion animal health market indicate an increase in regulatory approvals for companion animal health treatments. Companion animal health products and services are growing more and more well-liked in China as a result of increased pet adoption rates and rising expenditures for veterinary treatment. The size of the companion animal health market is also increasing as a result of rising demand for pet health insurance, the accessibility of pet drugs, innovative veterinary diagnostic and therapeutic technologies, and an increase in the number of new product launches. Due to increased research and regulatory clearances in these areas, the market is seeing an increase in demand for products from China. with substantial rivals actively competing in the industry, including Boehringer Ingelheim International GmbH, China Animal Husbandry Group, Zoetis Services LLC, and others.

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Market Dynamics:
The growth of the companion animal health market is driven by an increase in pet adoption, mostly by nuclear families. Due to the common nuclear family trend, which is expected to persist over the projected period, pet ownership has increased. The propensity for imbuing pets with human characteristics has increased owners' worries about their health and safety. The reason for this increase is the growing human-animal relationship, which impacts consumers' willingness to spend more money on their pets. In China, 10% of people have cats as a pet, and 25% of people have dogs. A sizable portion of the population keeps companion animals in their homes. Many pet owners in China have a variety of companion animals.

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Market Segment Analysis:
Due to the vaccinations industry, it is projected that the market will expand over the course of the forecast. The market trends for animal vaccines point to a rise in regulatory approvals for vaccines as a result of the rising frequency of infectious illnesses in animals and greater research and development. Animal vaccination refers to the immunization of a domestic, livestock, or wild animal. The business is in the veterinary healthcare sector. Vaccinations provide protection against diseases that can spread from animals to people.

China Companion Animal Health Market Companies:
The major China players in the companion animal health market include Boehringer Ingelheim International GmbH, Vetoquinol, Zoetis Services LLC, Elanco, MSD Animal Health China (Merck & Co. Inc.), China Animal Husbandry Group, Virbac, Jinyu Bio-technology Co., Ltd., Ceva and Bimeda, Inc. among others.

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