China Companion Animal Health Market is expected to grow at a CAGR of 11.3% from 2021 to 2028
China Companion Animal Health Industry Overview The China companion animal health market size was valued at USD 962.8 million in 2020 and is estimated to grow at a compound annual growth rate (CAGR) of 11.3% from 2021 to 2028. The growing companion animal population, pet humanization, incidence of diseases in animals, and initiatives by key companies are the key factors driving the market growth in the country. In May 2021, Boehringer Ingelheim, for example, received approval for GastroGard, intended for horses, from the Ministry of Agriculture and Rural Affairs of China. With this, Boehringer Ingelheim became the first global animal health company with equine business in China. The COVID-19 pandemic had a mixed impact on the market. The negative effects resulting from movement restrictions and logistical hurdles resulted in low demand and sales for certain market players. Gather more insights about the market drivers, restrains and growth of the China Compan...