China animal vaccine market estimated at CNY 24 billion
Envisioning an accelerated development of the animal health industry, a National Animal Health Industry Integration Seminar was held. According to this seminar, a new period of rapid growth for the industry is coming.
The animal health industry is growing rapidly. With a growing attention to food safety, demand for high quality animal health products is escalating. The animal health market is projected to grow annually at a rate of 15-20% for the next 5-10 years.
The vaccine market is expanding quickly. The current market value of animal vaccines is estimated at a whopping CNY 24 billion, including the FMD vaccine valued at CNY 3.8 billion, PRRS vaccine at CNY 1.35 billion, Swine Fever vaccine at CNY 0.45 billion, PCV vaccine at CNY 1.15 billion, AI vaccine at CNY 2.2 billion, Brucellosis vaccine at CNY 0.5 billion, piglet diarrhea vaccine at CNY 0.5 billion, and PRV vaccine at CNY 0.3 billion.
Improvement and transformation of the animal health industry is in need. To prepare for the expected growth of the animal health industry, manufacturing companies must adapt to the changing market. Some steps they can take in improving and transforming the industry include:
$11. Shifting market target from farming companies to the government
$12. Providing higher quality, cheaper products
$13. Investing more in R&D and technology upgrades, with an emphasis on finding a new type of adjuvant, higher efficacy, and a purified antigen
Michael Boddington from Asian Agribusiness Consulting (AAC) has been involved in agribusiness in Asia since 2000. AAC has office both in Vietnam Ho Chi Minh City and China Beijing. So AAC has a thorough understanding of the Viet Nam and China aqua industry and produces up-to-date research reports on the market. We can offer insights on supply and demand trends and comments on the future structure of Asian agribusiness. If you would like to know more please email This email address is being protected from spambots. You need JavaScript enabled to view it.This email address is being protected from spambots. You need JavaScript enabled to view it.
Source: http://www.chinairn.com/news/20140703/14320548.shtml