The market was valued at USD 1528.28 million in 2016 and is projected to reach USD 3118.28 million by 2021, growing at a CAGR of 15.33% during the forecast period. The market is gaining importance as a result of manufacturers focusing more on the production of products with specialized formulations and manufacturing processes.
The significance of livestock animals is generating growth in the animal healthcare market owing to the fact that more people are consuming meat and dairy products nowadays. The growing population and a stable economy are expected to result in the increased demand for protein-rich foods, especially in developing regions. Animal health companies are well-positioned to address this growing market’s demand for higher-protein diets.
China Veterinary Health Market- Market Dynamics
The new type of diseases in animals and their subsequent transfer to humans via animal food product consumption and companionship are escalating the Chinese veterinary healthcare industry. The strategic decisions in research and development of manufacturers are expected to positively impact global veterinary healthcare market as well.
In this report, the China veterinary healthcare market is segmented by animal type into farm animal health market and companion animal health market. The farm animal health segment is further segmented into poultry health market, swine health market, fish health market, cattle health market, and sheep health market. The companion animal health segment is further segmented into the dogs and cats market and horse health market.
Some of the key players in the market are:
Key Deliverables in the Report