Pet medicine is rising

       Pet health care determines the life length of pets. For pet breeders, it belongs to the field of just need. With the upgrading of pet care concept, pet medicine is quietly rising. According to the 2020 white paper on China's pet healthcare industry, pet healthcare has become the second largest consumption type in the pet consumption market with a market share of 23%.

       On the one hand, the role of pets began to change, and there was a kinship between pets. Once upon a time, dogs were kept to guard the house, and cats were kept to catch mice. With the emergence of empty nesters, unmarried people and other social phenomena, the companion attribute of pets began to highlight. As an important member of the family, pets have gradually established a close relationship similar to "parent-child" with people. According to the analysis of yiou think tank, 61% of consumers regard pets as their children or relatives. More and more pet owners are willing to treat "family members".

      On the other hand, the demand for pet medical care in China is expanding. The onset time of pets is concentrated in the middle-aged and elderly stage, and pets in China are about to enter the aging stage. According to the white paper on China's pet medical industry in 2020, due to the low age of most of China's existing pets, a large number of pets will enter the old age (over 8 years old) from 2022 to 2026. With the growth of pet age, the incidence rate of pets will also increase significantly, and the pet medical market will further expand.

      With the increasing affection and aging of pets, pet medical treatment has become more and more important and has become an important process of "pet keeping". The fire of the pet medical track is also getting hotter and hotter, and it has begun to become a new hot spot in the pet economy.

Forces from all sides seize the market

     Due to the late development of China's pet medical industry, the current domestic pet medical racetrack players are mainly divided into three areas, namely pet diagnosis and treatment, pet medical devices and pet insurance. All players rely on their own advantages to seize the pet medical market.

     First of all, as the carrier of pet diagnosis and treatment, pet hospital is the most popular field in the pet medical track. Players in this field seize the market by opening pet hospitals, but their playing methods are different.

     First, the players at the head of the track joined forces to speed up the layout of offline pet hospitals. As the  three leading players, Hillhouse capital, ruipeng group and Ruipai group have a trend of large-scale pet hospitals.  Hillhouse capital invested in ruipeng group to establish new ruipeng pet medical group for resource integration.           Since then, xinruipeng has further integrated industry resources through the acquisition of pet hospital brands and investment in pet pharmaceutical enterprises, completed the "enclosure movement" and accelerated the               occupation of the market. According to the data, as of September 2021, there were more than 1600 hospitals under xinruipeng, an increase of more than 2 times in three years.

     Second, the giant entered the market with a high profile, arranged online pet hospitals, and seized the market through online medical treatment. For example, JD Health launched the "pet hospital" to provide one-stop medical services for pets. According to titanium media reports, more than 1000 "JD pet" o2o stores have been launched. In addition, according to JD data, since the trial operation of JD pet hospital in July, more than 40000 users have              used the online consultation service in the past two months, with an overall praise rate of 98.76%. JD's entry adds online medical resources for pets.

     Third, regional pet hospitals maintain their own advantages in a chain way to catch up with racetrack players.          For example, Meng veterinary center has concentrated on opening stores in first and second tier cities such as Beijing and Shanghai to carry out chain operation and control the medical resources in the store. At the same        time, Meng veterinary center visualized and online the consultation process with the help of digitalization, so as to improve the operation efficiency of outpatient service. At present, Meng veterinary center has built its own front-end his system, middle-end BI system and back-end UMS system to enable the front-end digital service clinic.

      Secondly, medical device companies have developed a variety of medical devices suitable for pet diagnosis and treatment, seizing the pet medical market. For example, Jinrui biological released the animal brand "genvet" and a new series of professional pet diagnostic equipment. Hanyu medical designed v-clamp for mitral  regurgitation in small and medium-sized pet dogs. It also launched v-closer and pet multifunctional ECG monitoring system. With the increasingly prominent role of pet medical devices in pet diagnosis and treatment, more and more medical device companies have deployed pet medical devices to lay out the pet medical track.

       Finally, as the last link of pet medical care, pet medical insurance has great room for development, and insurance companies and giants are also making efforts. For example, PICC Property Insurance launched "pet Le insurance", Ping An Insurance launched "Ping An pet medical insurance plan", and JD launched "pet medical insurance card". Although pet medical insurance is a new species of the track, not a few players have entered the game. The emergence of pet insurance has alleviated the problem of expensive medical treatment for pets to a certain extent.

      According to the data, the scale of China's pet medical market has reached 40billion yuan, with a compound annual growth rate of 20%. It is estimated that the scale will exceed 130billion yuan by 2025. It can be seen from the data that the pet medical track in China is of great industrial value. The players on the track can really seize the blue ocean market by digging into the market demand for pet medical care and cutting into the track in combination with their own advantages.