China Companion Animal Health Market Size (2024 - 2029)

China Companion Animal Health Market Analysis

The China Companion Animal Health Market size is estimated at USD 1.04 billion in 2024, and is expected to reach USD 1.30 billion by 2029, growing at a CAGR of 4.69% during the forecast period (2024-2029).

Supply disruptions and shortages of veterinary medicines were observed in China, primarily due to the temporary lockdowns of manufacturing sites and increased demand for medicine to treat COVID-19. An article published in the Journal of Animals in July 2021 indicated that during the lockdown imposed on the COVID-19 pandemic, people were forced to leave their pets behind, significantly affecting the market's growth.

Also, some organizations in China announced campaigns to kill any cats or dogs found outdoors to prevent disease transmission. Such activities affecting the lives of pet animals drastically affected the growth of the companion animal health market in the nation during the COVID-19 pandemic. However, the market has recovered, and demand for companion health services has increased as the number of pet adoptions increased during the pandemic. Moreover, the market is expected to grow to its full potential over the forecast period.

The Chinese companion animal health market is primarily driven by the rising popularity of pet ownership, 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 in China, as they are the favorite companions of human beings. According to the article published in Sixth Tone in August 2022, there were more than 58 million pet cats in China in 2021, an increase of 19.4% from the previous year, while there were 54 million pet dogs in 2021. 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 companion animal healthcare products, thereby boosting the market growth.

Furthermore, there are also increasing initiatives by the government and animal welfare associations to create awareness about the various diseases that affect companion animals, which will augment the growth of the market as awareness can prevent various animal-related diseases. For instance, in April 2022, "Empowering 10,000 China Pet Retailers" was an initiative that was started by the China International Pet Show (CIPS) to create awareness about companion animal medicines. By the end of 2022, the team had held 200 seminars, events, and training sessions in six different cities. This is expected to create awareness among pet retailers about companion medicine products, which are expected to drive the growth of the Chinese veterinary healthcare market. 

Additionally, rising public organization initiatives in China to educate people about the adoption of stray animals are expected to drive the growth of the Chinese veterinary healthcare market. For instance, in June 2021, Animal Rights Organisations in China opened a new welfare center to educate the public about animals and encourage the adoption of stray animals, even though no laws exist to protect them. This will further be expected to drive growth in taking care of stray animals, thereby boosting this market.

In addition, the growing investments in the development of manufacturing plants for pet care products are also one of the key contributors to the growth of the Chinese companion animal health market. For instance, in February 2021, Delvigent opened its new feed additive plant in China. The first phase of the state-of-the-art factory has a capacity of 60,000 metric tonnes per year for the production of feed additives with short- and medium-chain fatty acids and essential oils as main components, with the possibility to expand to 120,000 metric tonnes of feed additives per year in the future.

Thus, all the aforementioned factors, such as the growing adoption of pet animals and the launch of awareness initiatives and strategic activities by the market players, are expected to boost market growth over the forecast period. However, the availability of a considerable number of counterfeit animal products and drugs on the market, including several fakes or copied companion animal drugs, is identified as an obstruction to the growth of the Chinese companion animal health market.

China Companion Animal Health Industry Segmentation

Companion animals provide companionship to human beings, as well as guard their houses and offices. Currently, the various types of health diseases in animals have increased the demand for vaccines and diagnostic tests. This surge in demand is primarily due to the need to treat and cure a variety of diseases associated with the health of cats and dogs.

The China companion animal health market is segmented by products (therapeutics (vaccines, parasiticides, anti-infectives, medicated feed additives, and other therapeutics) and diagnostics (immunodiagnostic tests, molecular diagnostics, diagnostic imaging, and other diagnostics)) and animal type (dogs, cats, horses, and other companion animals).

The report offers the value in USD for the above segments.