China’s Companion Animal Health Market 2019-2024 - The Increase in Pet Adoption, Mostly by Nuclear Families, is a Key Driver - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 23, 2019--
The “China Companion Animal Health Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The Chinese companion health market is growing, due to the factors, like the rising popularity of pet ownership in China and the introduction of healthcare innovations converging with different therapeutic indications.
According to the National Bureau of Statistics of China, it has been estimated that China is the third-largest country, in terms of dog ownership, a total of 27.4 million pet dogs, standing behind the United States and Brazil, with 55.3 million and 35.7 million dogs, respectively. China also stands second in the ownership of pet cats (58.1 million).
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.
Vaccines Contributed the Largest Share, in Terms of Revenue, in the Therapeutics Segment
The three major types of vaccines available for companion animals are inactivated (killed) vaccines (which contain bacteria and virus that have been grown in cultures and then killed by heating or chemical treatments), live attenuated vaccines (which contain live viruses or bacteria that have been severely weakened), and subunit vaccines (which contain viral or bacterial antigens that can trigger an immune response).
In 2017, more than 3,500 cats and dogs were cured from various diseases in China through animal welfare programs, funded by the Animals Asia Foundation. The animals were cured and vaccinated efficiently, thus protecting their health and saving their life.
Leading global companies are partnering with the 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.
Key market players in the market include Bayer AG, China Animal Husbandry Co. Ltd, Dachang, Elanco Animal Health, Merck & Co., Vetoquinol SA, Virbac, and Zoetis Inc., among others.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 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 & 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
22.214.171.124 Medicinal Feed Additives
126.96.36.199 Other Therapeutics
188.8.131.52 Immunodiagnostic Tests
184.108.40.206 Molecular Diagnostics
220.127.116.11 Diagnostic Imaging
18.104.22.168 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 Bayer AG
6.1.2 China Animal Husbandry Co. Ltd.
6.1.4 Elanco Animal Health
6.1.5 Merck & Co.
6.1.6 Vetoquinol S.A.
6.1.8 Zoetis Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/fpefuq
View source version on businesswire.com:https://www.businesswire.com/news/home/20190523005265/en/
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Related Topics:Animal Healthcare/Veterinary
INDUSTRY KEYWORD: HEALTH VETERINARY
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 05/23/2019 05:14 AM/DISC: 05/23/2019 05:14 AM