(PharmaNewsWire.Com, June 25, 2020 ) Market Overview Chinaanimalmedical Devices Market is expected to grow at a high CAGR during the forecasting period (2020-2027).
Market Growth Growing awareness of the health and well-being of pets among Chinese owners is leading the veterinary healthcare market boom at an unprecedented rate. There are about 12,000 pet hospitals in China and more than 10% are chains from established brands currently. According to the industry report by Goumin.com, one of the biggest online communities for pet owners in China, there were 91.5 million pet dogs and cats in China in 2018 and the market value of the pet industry reached 170.8 billion yuan (24.84 billion U.S. dollars). As the market for professional pet care is booming, the demand for machinery and medical equipment is growing, which provides several opportunities for manufacturers of medical equipment. The National Medical Products Administration (NMPA), Chinas medical device market regulator, has published official Unique Device Identification (UDI) requirements that will take effect October 1, 2019. According to NMPA as well as Emergo by UL consultants in Beijing, the new rules lay out UDI responsibilities both for manufacturers as well as code agencies that will issue UDI labels for devices. UDIs in China will include product identification unique to particular devices as well as production identification data such as serial and batch numbers, production dates and manufacturing process information.
Market Key Player The Chinese animal healthcare market is highly competitive with large number of players adopting various key strategies to expand their business and gain share in the market. Some of the market players in animal medical devices market are Shenyang Dachang Medical Imaging Technology Co. LTD. (Dachang), Mindray Medical International, Ltd, Xuzhou Palmary Electronics Co., Ltd, Benemed Industry Co., Limited, Shanghai Baobang Medical Equipment Co., Ltd., Shanghai Sunbright Industrial Co., Ltd, Nanjing Superstar Medical Equipment Co., Ltd., Shanghai MedEco Industry Co., Ltd., among others. The companies are focused on development of new animal medical devices with increased safety and ease of use. For instance, In May 2019, Canon, the Japanese multinational imaging and optical products maker, entered into Chinese animal medical treatment market, marking the company's further step in expanding its business from camera to medical equipment.
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