The Equine Healthcare Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Equine Healthcare Global Market Report 2024, 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.
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.
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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
Major companies operating in the equine healthcare market are developing innovative products, such as protein-based vaccines, to meet larger customer bases, increase sales, and increase revenue. A protein-based vaccine would generally involve using specific proteins or antigens from the target pathogen to stimulate an immune response without using the live or killed form of the pathogen itself. For instance, in August 2022, Dechra Pharmaceuticals Plc, a UK-based pharmaceutical company, launched the Strangvac vaccine for horses and ponies. Strangvac stands out as the sole intramuscular vaccine designed to safeguard against strangles, a disease stemming from the bacterium Streptococcus equi. Distinguished by its composition, Strangvac incorporates recombinant proteins CCE, Eq85, and IdeE derived from Streptococcus equi. Notably, it incorporates a Differentiating Infected from Vaccinated Animals (DIVA) capability. A distinctive aspect is that its formulation is devoid of live bacteria or bacterial DNA, ensuring that it does not trigger positive results in culture or PCR tests. This unique feature enhances the vaccine’s efficacy and safety in preventing strangles in horses.
The equine healthcare market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Major Players:
- China Petroleum & Chemical Corporation (Sinopec)
- Badische Anilin- und Sodafabrik
- The Dow Chemical Company
- Mitsubishi Chemical Corporation
- Minnesota Mining and Manufacturing Company
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