China Companion Animal Health Market - 2023-2030

Market Overview

The China Companion Animal Health Market reached US$ 1.6 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 3.7 billion by 2030. The China companion animal health market is expected to exhibit a CAGR of 11.4% during the forecast period (2023-2030). The increasing technological advancements and the growing novel product launches are driving up demand for companion animal health market trends.

Animals that are domesticated or domestic-bred and whose physical, behavioral, emotional, and social needs may be easily addressed as house pets or in close daily contact with people are considered companion animals.

The companion animal health market scope comprises diagnostic tests as immunodiagnostic tests, molecular diagnostics, diagnostic imaging and others, which has increased the companion animal health market share. The China market for companion animal health is expanding as a result of factors including the increasing adoption of pets in the country and their upcoming novel product approvals are also creating a positive outlook for the companion animal health market growth.

Market Dynamics

Advanced Technology in Animal Healthcare Drive the Growth of the Companion Animal Health market

In order to address the digestive and oral reasons of foul breath, Virbac launched dental care products with FR3SH technology for its first time ever in China. The World Small Animal Veterinary Association (WSAVA) states that regular at-home treatment (tooth brushing, chewing, and water additive solution) and professional descaling are both necessary for good dental health.

To combat dental plaque, tartar, and bad breath, Virbac has been providing products, including C.E.T. VEGGIEDENT chews for dogs and a VET AQUADENT an oral solution for cats as well as dogs. Only 30% of Chinese owners of pets provide their animals dental care, despite the fact that 82% of dogs in the country (which has a population of close to 70 million) are currently medically treated.

Thanks to the conjunction of three different ingredients-pomegranate, which is popular for its antioxidant effects and its capacity to reduce oral factors that cause bad breath; erythritol, that has a refreshing effect and enhances dental health; and inulin, a prebiotic that focuses on digestive causes of foul breath by aiding in the restoration of gut flora balance-this new, innovative formulation assists in combating the oral as well as digestive causes of foul breath.

Rising Research and Development by Major Companies Create Lucrative Opportunities for Manufacturers

Rising research and development by the key companies is the major factor for the growth of market in China. For instance, on November 29, 2022, a new sterilized filling line for liquid vaccines or diluents has been erected at VB8, a building devoted to the production of sterile forms, to meet the demand for pet vaccines around the world, including that of some nations, like China. All of their subsidiaries' companion animal vaccinations are made at the Carros facility.

They have established a cutting-edge production facility for the pharmaceutical manufacturing of liquid vaccines or diluents in response to the rising demand for these products globally. A significant hurdle for this project is that they hope to boost their production capacity with this new unit by about 20%. The goal is to create new biological products that are currently in development as well as increasing volumes of vaccinations at a competitive rate.

Use of Counterfeit Medicines in the Country will Hamper the Growth of the Market.

Contrarily, buying fake medications puts dogs' health and perhaps the families who care for them at considerable risk. Unsurprisingly, 42 percent of pet owners who believed they had been taken advantage of by fake goods felt frightened, and 38 percent felt angry. For instance, despite the fact that dogs in the area are vaccinated, rabies is expanding outside of the typical rabies hotspot in South China, whereby five provinces contribute to 60% of human illnesses.

The knowledge exchange between the scientific community, policymakers, and the animal health industry is sometimes complicated by the incompatibility of data management systems. The expansion of the companion animal healthcare market may be hampered by this later.

COVID-19 Impact Analysis

The COVID-19 epidemic and the worldwide lockdown have had an effect on the financial health of businesses in all industries. As a result, the U.S. Food and Drug Administration (FDA) released guidelines for the duration of the COVID-19 health emergency that include general considerations to assist sponsors and researchers, ensure trial participants' safety, follow good clinical practice (GCP), and reduce risks to trial integrity.

Russia-Ukraine War Impact Analysis

The Russia-Ukraine conflict is estimated to have a low impact on the companion animal health market, owing to the low number of key market players in this region. However, the impact of the import and export of raw materials is expected to have little influence over the companion animal health market growth over the forecast period.

Segment Analysis

The China companion animal health market is segmented based on product type, animals, end user and country.

Immunodiagnostic Tests from Diagnostic Tests Segment Accounts for 42.4% of Market Share Owing to Rising Utilization

Selective point-of-care tests that can be performed in a clinical context and fee-for-service diagnostic laboratories offer immunodiagnostic approaches for a variety of parasitologic infections. An immunologic test can be designed using one of two fundamental strategies. Specific chemicals linked to particular parasites are found in blood, serum, or fecal preparations by antigen detection assays, indicating the existence of the parasite in the host.

In contrast, tests for the detection of antibodies reveal how the host's immune system reacts to a pathogen through the generation of certain antibodies. It is presumed that the host organism is immunologically capable of responding to the pathogen as well as that sufficient exposure time has passed for the animal to create detectable antibodies in order for the test to be positive.

The test methods for immunodiagnostic tests are numerous. The enzyme-linked immunosorbent assay (ELISA) is a colorimetric test that is built with a number of wells in a plate or tray. The lateral flow immunochromatographic assay, which operates by capillary action with a succession of reagents traveling down a membrane and indicating the outcome as a colored dot or line on the membrane, employs identical principles and chemicals in a cassette format.

Competitive Landscape

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

Why Purchase the Report?

• To visualize the China companion animal health market segmentation based on product type animals, end user and country, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of companion animal health market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The China companion animal health market report would provide approximately 53 tables, 54 figures and 195 pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies