Market Size of China Veterinary Healthcare Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 2.76 Billion |
| Market Size (2029) | USD 4.43 Billion |
| CAGR (2024 - 2029) | 7.29 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Animal Healthcare Market Analysis
The China Veterinary Healthcare Market size is estimated at USD 2.76 billion in 2024, and is expected to reach USD 4.43 billion by 2029, growing at a CAGR of 7.29% during the forecast period (2024-2029).
The COVID-19 has also impacted the market negatively during the pandemic. For instance, according to the study published on 'Effect of COVID-19 on animal breeding development in China and its countermeasures' in 'Animal Frontiers' in February 2021, during the COVID-19 outbreak, China's agricultural production has been severely affected and a significant amount of money was required for secure isolation and employee health management, causing some businesses to break the capital chain. This has led to a lack of proper nutrition in animals, which further leads to the probability of an increase of diseases in the animals due to lack of immunity, thereby driving the market growth.
Rising public organization initiatives in China on educating people about the adoption of stray animals are expected to drive the growth of the China Veterinary Healthcare market. For instance, in June 2021, Animal rights organizations in China have opened a new welfare center to educate the public about animals and encourage the adoption of stray animals, despite the fact that there are no laws in place to protect them. This will further expected to drive the growth in order to take care of stray animals, thereby expected to boost this market. Furthermore, the rise in pet adoption, advanced technology in animal healthcare, followed by rise in number of Government initiatives and initiatives from the animal welfare organizations are expected to drive the growth of this market in the forcast period.
However, the growing trend of counterfeit prescription pharmaceuticals and the lack of skilled veterinarians are a few factors that are hampering the growth of the Chinese veterinary healthcare market.
