Overview and Scope
Equine healthcare refers to healthcare services that are engaged in offering services and products intended for treating horses to enhance their quality of life, to develop the quality of animal food and to increase their lifespan. Equine healthcare includes veterinary services provided to horses used for racing and betting, competitive riding, and leisure. Routine veterinary care for vaccinations, parasite control, dental care, grooming, hoof care, and protection from natural elements such as rain, wind, and snow are all part of equine healthcare.
Sizing and Forecast
The equine healthcare market size has grown strongly in recent years. It will grow from $1.34 billion in 2023 to $1.42 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to equine aging population, preventive healthcare practices, equestrian sports and activities, rising awareness among owners, disease outbreaks and control.
The equine healthcare market size is expected to see strong growth in the next few years. It will grow to $1.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to genetic testing and personalized medicine, equine wellness programs, globalization of equine events, zoonotic disease preparedness, compliance with anti-doping regulations. Major trends in the forecast period include telemedicine and remote monitoring solutions, wearable technologies for horses, equine rehabilitation and physical therapy, equine dental care and dentistry services, herbal and alternative therapies.
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Segmentation & Regional Insights
The equine healthcare market covered in this report is segmented –
1) By Product Type: Drugs, Vaccines, Medical Feed Additives
2) By Disease: Equine Influenza, Equine Herpes virus, Equine Encephalomyelitis, West Nile Virus, Equine Rabies, Potomac Horse Fever, Tetanus
3) By Distribution: Veterinary Hospitals and Clinics, Retail Pharmacy, Online Pharmacies
North America was the largest region in the equine healthcare market in 2023. The regions covered in the equine healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing awareness of animal healthcare will support the growth of the equine healthcare market during the forecast period. People are becoming more aware of the importance of animals in the ecosystem, and animal health is critical not just for their safety and well-being, but also for the safety and well-being of humans. The diseases in animals can easily be transferred to humans hence, governments and private institutions are investing to develop the animal healthcare infrastructure in various countries. For instance, in September 2021, the US department of agriculture announced an investment of $3 billion in animal health and nutrition. Thus, the rising awareness among the human population about the importance of animal healthcare and increasing investment in animal healthcare will support the growth of the market, during the forecast period.
Key Industry Players
Major companies operating in the equine healthcare market report are Merck & Co. Inc., Bayer AG, Sanofi S.A., Boehringer Ingelheim, Zoetis Inc., Patterson Companies Inc., Elanco, Idexx Laboratories Inc., Covetrus, Ceva Sante Animale, Virbac, Hilltop BioSciences Inc., Dechra Pharmaceuticals PLC, CVS Group PLC, Vetoquinol, Greencross Limited, ESAOTE SPA, Purina Animal Nutrition LLC, National Veterinary Care Ltd., Applied Biologics, SOUND, Hallmarq Veterinary Imaging, Ethos Veterinary Health LLC, Jaguar Animal Health, Addison Biological Laboratory Inc., Animart LLC, Prisma Imaging, Bimini LLC, BioPredic International, Epona Biotec, Equine Therapy Solutions
The equine healthcare market report table of contents includes:
1. Executive Summary
2. Equine Healthcare Market Characteristics
3. Equine Healthcare Market Trends And Strategies
4. Equine Healthcare Market – Macro Economic Scenario
5. Global Equine Healthcare Market Size and Growth
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31. Equine Healthcare Market Other Major And Innovative Companies
32. Global Equine Healthcare Market Competitive Benchmarking
33. Global Equine Healthcare Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Equine Healthcare Market
35. Equine Healthcare Market Future Outlook and Potential Analysis
36.Appendix
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