The China animal vaccines market is suggested to have reached a value of around RMB 9.1 billion by the end of 2012, and is forecast to reach a total of RMB 15.9 billion by 2016. This suggests a CAGR growth rate of around 15% between 2012 and 2016. This is at a slower rate than previous years, as the 2004 to 2012 period saw CAGR growth of over 26%.
In view of the frequent occurrence of animal epidemic diseases over the years, the Chinese government has increased investment in epidemic prevention and implemented compulsory immunization system. Beginning in 2004, it has gradually included highly pathogenic avian influenza, highly pathogenic PRRS (porcine reproductive and respiratory syndrome), classical swine fever and peste des petits ruminants in the national compulsory immunization coverage following the FMD (foot-and-mouth disease), thus leading to rapid growth in animal vaccine market size.
Chinese animal vaccine products include swine vaccine, poultry vaccine, cattle & sheep vaccine, pet and other vaccines. As pig and poultry breeding is the core of China's animal husbandry, swine and poultry vaccines account for more than 85% of China's animal vaccine market. In addition, the emerging pet industry is boosting vigorous growth in demand for pet vaccine, while there are few commercial pet vaccines from Chinese animal vaccine companies, mainly dependent on imported products with stiff prices. In future, the Chinese pet vaccine market will usher in large room for promotion.
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