China Veterinary Medicine Market – Industry Trends and Forecast to 2031

China Veterinary Medicine Market Analysis and Size

China veterinary medicine market has been expanding rapidly, driven by urbanization, rising pet ownership, increasing demand for livestock products, and a growing awareness of animal health and welfare. The veterinary medicine market in China has been expanding rapidly, fueled by the growing demand for animal health products and services. China has witnessed a surge in pet ownership, particularly among urban middle-class consumers. The increasing disposable income and changing lifestyles have led to a growing preference for companion animals such as dogs, cats, and exotic pets. This trend has created a robust market for pet healthcare products, including vaccines, parasiticides, and prescription medications.

Data Bridge Market Research analyses that the China veterinary Medicine Market which was USD 20.23 million in 2023, expected to reach up to USD 5.33 billion by 2031, and is expected to undergo a CAGR of 8.22% during the forecast period. This indicates the market value. “Pharmaceuticals” dominates the product segment of the china veterinary medicine market owing to the rowing production of meat and milk products and the increasing demand for veterinary drugs. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Market Definition

Veterinary medicine, also known as veterinary science or veterinary medicine, is the branch of medicine that deals with the prevention, diagnosis, treatment, and management of diseases, disorders, injuries, and other health conditions affecting animals. Veterinary medicine aims to promote animal health, prevent disease spread, and ensure animal welfare under human care. Veterinarians, who are licensed medical professionals trained in veterinary medicine, play a central role in providing medical care to animals and advising animal owners on best practices for animal husbandry, nutrition, and disease prevention.

Veterinary Medicine Market Dynamics

Drivers

• Rising Pet Ownership

The increasing affluence and urbanization in China have led to a growing trend of pet ownership, particularly among the middle class. As more households embrace companion animals, there is a corresponding increase in demand for veterinary services, including preventive care, treatments, and healthcare products. As more people bring pets into their homes, there is a corresponding rise in the demand for veterinary services. This includes routine preventive care such as vaccinations, wellness exams, parasite control, dental care, and treatment for illnesses, injuries, and chronic conditions. Veterinary clinics and hospitals experience higher patient volumes, leading to increased business opportunities and growth in the veterinary healthcare sector.

• Government Support and Policies

The Chinese government has been implementing policies and initiatives to improve animal health, food safety standards, and the overall quality of veterinary services. Supportive government policies, subsidies for agricultural development, and investments in veterinary infrastructure create a conducive environment for the growth of the veterinary medicine sector.

Opportunities

• Technological Advancements

Advances in veterinary medicine technology, including diagnostic tools, imaging equipment, pharmaceuticals, and biotechnology, drive innovation and improve the quality of veterinary care in China. Veterinary professionals and companies leverage technological advancements to enhance animal diagnosis, treatment, and disease management.

• International Collaboration and Investments

Chinese veterinary medicine companies increasingly engage in international collaborations, partnerships, and investments to access new technologies, markets, and expertise. Collaborations with global pharmaceutical companies, research institutions, and veterinary organizations drive innovation and market expansion in China veterinary medicine sector.

Restraints/Challenges

• Regulatory Hurdles

Complex regulatory requirements and bureaucratic procedures can challenge market entry, product registration, and compliance with veterinary medicine regulations in China. Stringent regulatory oversight may delay product approvals, increase compliance costs, and limit market access for domestic and international companies. The approval process for veterinary drugs and vaccines can be lengthy and complex, requiring extensive preclinical and clinical studies to demonstrate safety, efficacy, and quality. Regulatory agencies such as the FDA's Center for Veterinary Medicine (CVM) in the United States and the European Medicines Agency (EMA) in Europe oversee the approval of veterinary pharmaceuticals. Meeting regulatory requirements and obtaining approval for new veterinary products can be costly and time-consuming for manufacturers, hindering innovation and access to animal treatments.

• Public Health Risks

Zoonotic diseases, such as avian influenza, rabies, and brucellosis, pose public health risks in China, highlighting the interconnectedness of animal and human health. Preventing and controlling zoonotic diseases require collaborative efforts between veterinary and public health authorities and investments in surveillance, vaccination, and outbreak response capabilities.

This veterinary medicine market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the China veterinary Medicine Market contact Data Bridge Market Research for an analyst brief, our team will help you make an informed market decision to achieve market growth.

Recent Development

• In November 2023, Bimeda, Inc., an Irish animal health company, announced the opening of its state-of-the-art sterile injectable manufacturing facility in China. This facility is expected to increase the company’s portfolio for a growing consumer base in both China and the AMEA-ANZ region
• In May 2023, Kuehne+Nagel announced a partnership with Elanco, an animal healthcare company in China. The company opened a manufacturing warehouse and a distribution center for Elanco's finished goods. This partnership is expected to increase Elanco’s footprint in China’s fast-growing animal healthcare market.

Veterinary Medicine Market Scope

The veterinary medicine market is segmented into three notable segments based on product, animal type, and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Biologics
• Pharmaceuticals
• Medicated Feed Additives

Animal Type

• Production Animals
• Companion Animals
• Others

Distribution Channel

• Veterinary Hospitals & Clinics
• E-Commerce
• Offline Retail Stores
• Others

Healthcare Infrastructure Growth Installed Base and New Technology Penetration

The China veterinary Medicine Market also provides you with a detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the China Veterinary Medicine Market, the impact of technology using lifeline curves and their impact on the India Skin Boosters Market.

Competitive Landscape and Veterinary Medicine Market Share Analysis

The China veterinary medicine market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, India presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.

Some of the major players operating in the market are:

• China Animal Husbandry Industry Co. Ltd. (China)
• Boehringer Ingelheim International GmbH (Germany)
• Zoetis Services LLC (U.S.)
• Bimeda, Inc. (U.S.)
• Merck & Co., Inc. (U.S.)

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