China Veterinary Medicine Market To Reach $5.39 Billion By 2030

China Veterinary Medicine Market Growth & Trends

The China veterinary medicine market size is anticipated to reach USD 5.39 billion by 2030, expanding at a CAGR of 8.2% during the forecast period, according to a new report by Grand View Research, Inc. The emergence of new animal diseases and the increasing need to address those diseases in China are some of the factors contributing to the market growth. For instance, in March 2019, DS Pharma Animal Health Co., Ltd., Sumitomo Corporation, and Shandong Sinder Technology Co., Ltd. made an agreement to license and sell the antiepileptic drug CONSAVE in China by 2022 to deal with epilepsy, a chronic disorder in dogs.

China is home to one of the largest pet populations in the world. This huge population of pet animals increases the demand for veterinary medicines in the country as pet owners are expected to spend on pet health. The increasing awareness about animal health and pet care is leading to the increased investments of pet owners in their pet health, thereby contributing to the market growth. Moreover, China has a huge population of dogs and cats, which contributed to the demand for preventive and treatment medicines for animals. For instance, according to an article in Rainwalk, Pet Adoption Statistics 2023, China has a total pet population of 53.1 million cats and 27.4 million dogs, which is the second largest population for both cats and dogs in the world after the U.S. This huge population of cats and dogs are anticipated to fuel the market growth.

The outbreak of diseases such as African Swine Fever (ASF) and Classical Swine Fever (CSF) is expected to increase the focus of government on the animal health in the country. For instance, an Animal Epidemic Prevention Law was adopted in China in 2021. The law aimed at strengthening animal epidemic prevention in the country and promoting the development of the breeding industry by preventing, controlling and eliminating animal pandemics. This increasing focus on animal health in the country is expected to drive market growth.

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China Veterinary Medicine Market Report Highlights

• Based on product, the pharmaceuticals segment held a revenue share of over 65% in 2023, owing to the increasing production of meat and dairy products in the country. On the other hand, the biologics segment is expected to grow at the fastest CAGR over the forecast period.

• Based on animal type, the production animal segment held the largest revenue share of around 60% in 2023, owing to increased focus on animal health in the dairy industry for better quality product.

• The increasing focus of market players on the development of advanced medicines and the emergence of new diseases is contributing to the market growth

China Veterinary Medicine Market Segmentation

Grand View Research has segmented the China veterinary medicines market based on product, animal type, route of administration, and distribution channel:

China Veterinary Medicine Product Outlook (Revenue, USD Billion, 2018 - 2030)

• Biologics

  • Vaccines

    • Modified/Attenuated Live

    • Inactivated (Killed)

    • Other Vaccines

  • Other Biologics

• Pharmaceuticals

  • Parasiticides

  • Anti-infectives

  • Anti-inflammatory

  • Analgesics

  • Others

• Medicated Feed Additives

China Veterinary Medicine Animal Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Production Animals

  • Poultry

  • Pigs

  • Cattle

  • Sheep & Goats

  • Others

• Companion Animals

  • Dogs

  • Cats

  • Horses

  • Others

China Veterinary Medicine Route of Administration Outlook (Revenue, USD Billion, 2018 - 2030)

• Oral

• Injectable

• Topical

• Other Routes

China Veterinary Medicine Distribution Channel Outlook (Revenue, USD Billion, 2018 - 2030)

• Veterinary Hospitals & Clinics

• E-commerce

• Offline Retail Stores

• Others

List of Key Players in the China Veterinary Medicine Market

• China Animal Husbandry Industry Co. Ltd.

• Boehringer Ingelheim International GmbH

• Bimeda, Inc.

• Merck & Co., Inc.

• Ceva

• Zoetis Services LLC

• Virbac SA

• Vetoquinol