◆英語タイトル：China Companion Animal Health Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
The China Companion Animal Health market was valued at USD 567.28 million in 2020, and it is expected to reach USD 1102.25 million by 2026, registering a CAGR of 11.71% during the forecast period of 2021-2026.
Supply disruption and medicine shortages of veterinary medicines had been observed in China, primarily due to the temporary lockdowns of manufacturing sites, export bans, and increased demand for medicine to treat COVID-19. A slight short-term negative impact is witnessed on companion animal healthcare, primarily due to the reduced veterinary visits, along with the shortage of veterinary medicines, during the outbreak of COVID-19.
The China companion health market is primarily driven by the rising popularity of pet ownership and growing spending on animal healthcare and rising awareness regarding the various treatments available for companion animal diseases.
In recent years, there has been a significant increase in the adoption of dogs and cats that have been observed in China, as they are the most favorite companions of human beings. According to the data of China’s pet industry report in 2019 by online pet forum goumin.com. There are around 99.15 millions of dogs and cats were adopted as pets in the country and dog and cat owners spent a staggering 202 billion yuan (29 billion U.S. dollars) in 2019, an increase of 18.5 percent from the previous year. With the increasing animal population in the country, the demand for vaccination is expected to rise to maintain the companion animals’ proper health. The pet industry in China is booming and the growth rates in the region are comparable to the other developed countries. Hence, the increase in pet adoption has helped in driving the companion health market.
With the increase in the number of companion animals, owners are becoming increasingly aware of their pet’s health and nutrition, and are also seeking veterinary services. This, in turn, is creating a growing demand for diversified forms of companion animal healthcare products.
Furthermore, there are also increasing initiatives by the government and animal welfare association for creating awareness about the various disease against companion animals which will augment the growth of the market as awareness can prevent various animal related disease.
In addition, The growing investments by key market players to develop advanced solutions for pet care is also one of the key contributors to the growth of the china companion animal health market.
The availability of a considerable number of counterfeit animal products and drugs in the market, including a number of fake or copied companion animal drugs being identified as an obstruction to the growth of the market for genuine animal drug products. These drugs are found to be unsafe and ineffective that are found to be harmful for the health and well-being of pets, and may affect a large section of the pets population. This is likely to hamper the market growth over the forecast period.
Key Market Trends
Vaccines Contributed the Largest Share, in Terms of Revenues, in the Therapeutics Segment
Vaccines are a crucial part of preventive healthcare for companion animals. They are categorized as core vaccines and non-core vaccines. Core vaccines are compulsory for all companion animals, whereas non-core vaccines are indicated by companion animal lifestyle or based on geographical area. In China, new advanced vaccines are manufactured containing genetically engineered components derived from those disease agents.
In dogs, Rabies, Distemper, Hepatitis/Adenovirus, Parvovirus, and Parainfluenza are the core vaccines while, Bordetella, Leptospirosis, Lyme Disease, Giardia, and Canine Influenza H3N8 are the non-core vaccines. In cats, FVRCP (distemper)is the vaccine to protect against Rhinotracheitis (feline herpes), Calicivirus, and Panleukopenia. Also, Rabies FeLV (feline leukemia) vaccines are given to cats.
According to the Chinese government, all dogs and cats must be vaccinated against rabies annually. Moreover, in recent years, there has also been an increased awareness about animal vaccinations and the overall health of dogs and cats in China. In 2017, more than 3,500 cats and dogs were treated for various diseases, primarily through animal welfare programs funded by the Animals Asia Foundation. The animals were rescued and vaccinated efficiently. Thus, these organizations are focusing on protecting animals’ health and saving their lives.
Moreover, The vaccines segment of the Chinese veterinary healthcare market is expected to be driven by innovations in vaccines, growing awareness of animal health, increasing investments by government bodies and associations, and increased expenditure on the healthcare of companion animals. In April 2018, Zoetis expanded its animal vaccines research and manufacturing facility in Suzhou, China. The new facility is expected to focus on developing and producing quality vaccines for swine, cattle, fish, and companion animals, thereby protecting against the strains of diseases prevalent in China.
However, with COVID-19 impact in the country from end of 2019 to 2020, had affected the services provided to companion animals as supplies were reduced significantly for some period and the pet owners were confinedto their homes for significant period. Such factors dropped the treatment across the country, however, in forecast period, the services will have much positive impact on the market.
China Companion Animal Health Market is a consolidated market with few dominant players. Leading global companies are partnering with Chinese companies for their distribution in the country. For instance, Meili Omni-Honesty is a joint venture between Boehringer Ingelheim, a leading global pharmaceutical company, and the world’s second-largest animal health company, Beijing KangMu Omni-Honesty Animal Health Products Co. Ltd that was established in 2018 for the development of novel veterinary drugs. Key market players in the market include China Animal Husbandry Co. Ltd, Dachang, Elanco Animal Health, Merck & Co., Vetoquinol SA, Virbac, and Zoetis Inc., among others.
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1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Pet Adoption, Mostly by Nuclear Families
4.2.2 Increasing in Initiatives by the Governments and Animal Welfare Associations
4.2.3 Advanced Technology in Animal Healthcare
4.3 Market Restraints
4.3.1 Use of Counterfeit Medicines
4.3.2 Increasing Costs of Animal Testing and Veterinary Care
4.4 Porter’s Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Products
126.96.36.199 Medicinal Feed Additives
188.8.131.52 Other Therapeutics
184.108.40.206 Immunodiagnostic Tests
220.127.116.11 Molecular Diagnostics
18.104.22.168 Diagnostic Imaging
22.214.171.124 Other Diagnostics
5.2 By Animal Type
5.2.1 Dogs and Cats
5.2.3 Other Companion Animals
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 China Animal Husbandry Co. Ltd
6.1.3 Elanco Animal Health
6.1.4 Merck & Co.
6.1.5 Vetoquinol SA
6.1.7 Zoetis Inc.
6.1.8 IDEXX Laboratories, Inc.
6.1.9 Ceva Sant Animale
6.1.10 Pulike Biological Engineering
6.1.11 Tianjin Ringpu Biotechnology Co. Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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